Weekly DeFi Update (Week 20, 16/05/2022 – 22/05/2022)
65.90% of voters favour a LUNA hard fork. South Korean parliament summons Do Kwon to inquire about LUNA and the aftermath. USDT and USDC boost transparency efforts.

Key Takeaways
- The Terra (LUNA) blockchain is heading for version 2.0, with 65.90% of the voters favouring a hard fork at the time of writing. The Luna Foundation Guard plans to compensate UST holders with its remaining funds.
- Do Kwon is summoned to a parliamentary hearing as politicians inquire further details about the LUNA incident and its aftermath.
- Tether (USDT) shrinks the portion of commercial paper in its reserves by 17%, while Circle commits to transparency with weekly USDC reports.
- Deus Finance’s DEI became the latest algorithmic stablecoin to lose its dollar peg, and plummeted to 55 cents. As of 22 May 2022, DEI is trading at about US$0.70.
- This week’s price, volume, and volatility indices are negative at -1.40%, -52.00%, and -56.92%, respectively.
Highlights
- Wormhole announces $10 million bug bounty payout
- Terra’s amended revival plan would decrease the allocation for post-attack UST holders
- Do Kwon amends Terra 2.0 proposal during the vote on it
- Fantom’s SCREAM Falls 50% After Algorithmic Stablecoins Cause Bad Debt
- Anchor saw $1 billion of liquidations during UST and Luna’s death spiral
- Crafting Finance brings synthetic asset issuance and trading on NEAR
- Curve Finance community initiates proposal to stop incentivising UST pools with CRV
- Institutional DeFi enabler? Data firm Kaiko probes DEX liquidity with new product
- Justin Sun still thinks algorithmic stablecoins are a good idea
- SWIFT, Capgemini team up to test using the international network for CBDC transfers
Check the latest prices on Crypto.com/Price
Top Token Metrics
Source: CoinGecko
DeFi Index Tokens
DEX Metrics
Partager avec des amis
Articles connexes
📉 BTC and ETH futures open interest on exchanges saw a 30% and 48% drop since their peaks, respectively; Crypto.com received a limited license to offer derivatives in the UAE
DeFi & L1L2 Weekly — 🚀 Ethereum’s Pectra upgrade successfully deployed on the Sepolia testnet; pump.fun saw a significant drop in token launches
🖊️ Trump a signé un décret exécutif pour une réserve stratégique de Bitcoin aux États-Unis; Cronos a proposé de réémettre 70 milliards de CRO pour une réserve stratégique de Cronos
Prêt à commencer votre aventure crypto ?
Obtenez votre guide étape par étape pour ouvrirun compte sur Crypto.com
En cliquant sur le bouton Soumettre, vous reconnaissez avoir lu l'Avis de confidentialité de Crypto.com où nous expliquons comment nous utilisons et protégeons vos données personnelles.