Weekly DeFi Update (Week 1, 03/01/2022 – 09/01/2022)
Terra is investing $139M to enhance use cases for TerraUSD UST. AaveAave launches institutional product Aave Arc. TectonicFi TONIC is now listed on Crypto.com Exchange.
Key Takeaways
- Terra ($LUNA) announced that it would invest USD 139M in projects across different blockchains to enhance use cases for its TerraUSD (UST) stablecoin. (ref)
- Aave ($AAVE) launched its institutional product Aave Arc, a permissioned and regulated DeFi product aimed at institutions. (ref)
- Ethereum-based prediction markets platform Polymarket has been fined $1.4M and ordered to shut unlicensed markets by the CFTC. (ref)
- Tectonic ($TONIC) has been listed on Crypto.com Exchange. (ref)
- This week’s volume and volatility indices were positive at +64.63% and +7.83%, respectively, while the price index was negative at -3.62%.
Highlights
- Terra to deploy $139 million in DeFi projects to enhance UST use cases
- Aave has launched permissioned DeFi pools for institutions
- Solana DeFi major Serum’s ‘Incentive Ecosystem Foundation’ is raising $100M
- Study: Number of monthly active Web3 developers hit an all-time high in 2021
- Cosmos-based DEX Osmosis breaks above $1 billion in locked value
- DeFi Protocol Convex Finance crosses $20B in locked value
- Rug-Pullers and Black-Hats ran wild in 2021 with $2.2B lost to theft: report
- ERC-4626 proposes to make yield-bearing tokens their own DeFi lego
- Yearn passes new tokenomics, rewarding YFI stakers with up to $35M per year
- U.S. orders DeFi platform Polymarket to pay $1.4M and shut unlicensed markets
- Aave unveils mobile wallet and eyes V3 deployment on StarkNet
Check the latest prices on Crypto.com/Price
Top Token Metrics
| Metrics | Top 20 DeFi tokensmarket cap | Top 100 DeFi tokens market cap | DeFi dominance*vs. all crypto |
|---|---|---|---|
| Current | $100.42B | $134.11B | 6.73% |
| 7-Day Change | -9.10% | -10.44% | +0.06% p.p. |
| 14-Day Change | -14.51% | -13.89% | +0.35% p.p. |
Source: CoinGecko
DeFi Index Tokens
| Metrics | Price | Volume | Volatility |
|---|---|---|---|
| Top Gainers | LINK (+25.79%) | LINK (+164.20%) UMA (+159.77%) MKR (+77.51%) | UMA (+87.50%) NXM (+76.25%) SNX (+73.19%) |
| Top Losers | LRC (-26.06%) CRV (-21.80%) AAVE (-18.15%) | NXM (-31.07%) AAVE (-9.39%) | YFI (-46.10%) CRV (-32.50%) BAL (-19.19%) |
DEX Metrics
| Metrics | UniswapEthereum | SushiMulti-chain | PancakeBSC | SpookyswapFantom | RaydiumSolana | Trader JoeAvalanche |
|---|---|---|---|---|---|---|
| Market Cap | $7.13B | $1.33B | $2.86B | $151.98M | $433.38M | $231.45M |
| 7-Day Change | -18.61% | -26.40% | -16.40% | +5.31% | -22.56% | -28.62% |
| TVL | $7.83B | $5.02B | $4.93B | $1.12B | $1.23B | $1.71B |
| 7-Day Change | -9.98% | -8.11% | -11.14% | -3.67% | -23.91% | -13.29% |
| Mcap/TVL | 0.92x | 0.27x | 0.59x | 0.13x | 0.35x | 0.14x |
| 7-d Avg. Volume | $348.63M | $459.21M | $108.2M | $8.78M | $49.77M | $22.95M |
| 7-Day Change | -2.76% | -37.05% | +0.84% | -12.31% | -0.96% | -48.95% |
| Volume / TVL | 4.45x | 9.15x | 2.2x | 0.79x | 4.05x | 1.34x |
Source: CoinGecko, StakingRewards, DeFi Llama
Notable Events
- Trader Joe’s Bulletin Board #9 was released. (ref)
- Pancakeswap Community Roundup #2 was released. (ref)
Raydium announced that the P2E metaverse game SpaceFalconIO will launch on AcceleRaytor. (ref)
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