Weekly DeFi Index
This week’s market cap and volatility indices were positive at +2.84% and +14.28%, respectively, while the volume index was negative at -15.48%.
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DeFi Index Tokens
News Highlight
- Bitcoin Lightning Network infrastructure firm Lightning Labs released a test version of a software called Taro, which allows developers to create, send, and receive assets on the Bitcoin blockchain. According to Lightning Labs, Taro will make it possible to create Bitcoin and Lightning-native stablecoins that allow for “[instant settlements], low-fee, [and] peer-to-peer transactions without financial intermediaries”.
- Transit Swap, a multichain decentralised exchange aggregator, was exploited and lost roughly US$23 million on 1 October because of an internal bug on its swap contract. The hacker’s IP, email address, and associated on-chain addresses were quickly identified with the help of several blockchain security companies. After their efforts, the hacker returned 70% of the stolen assets, equating to roughly $16.2 million, within 24 hours.
- Layer-2 solution zkSync announced that its 2.0 mainnet is expected to be deployed around 28 October. According to Matter Labs, the developer behind zkSync, zkSync 2.0 will be the first EVM-compatible ZK rollup (zkEVM) solution to tackle Ethereum’s scalability problems.
DEX Protocols Metrics
Lending Protocols Metrics
Charts on Layer-2 Projects
- The overall L2 market was relatively stable last week, as its TVL dropped slightly by -0.63%. Optimistic rollup projects fell by -0.47% and zero-knowledge rollups decreased by -4.77%. Ethereum’s TVL change was negative at -0.02%.
- The TVL changes for all optimistic rollup projects were negative except Optimism (+2.53%). Arbitrum fell the most by -2.20%.
- ZK rollup projects’ TVL movement was mixed. StarkNet’s TVL kept the momentum and surged the most at +5.60%, while Aztec plummeted the most at -12.72%.
Further Reading
- SWIFT partners with crypto data provider Chainlink on cross-chain protocol in TradFi play
- T-Mobile parent Deutsche Telekom launches Ethereum validator, staking support
- Gnosis Safe launches SafeDAO, Safe Token
- IOTA launches Shimmer Network for zero fee asset tokenization
- Circle expands USDC stablecoin to five new chains, unveils cross-chain transfer protocol
- Jack Dorsey’s TBD teams up with Circle to take US dollar stablecoin savings and remittances global
- Ooki DAO moves to raise funds to defend against CFTC lawsuit
- Uniswap Labs to raise venture capital at $1B valuation
- Sushi community votes in ‘Head Chef’ to oversee decentralised crypto exchange
- Bitcoin miner Rhodium going public through reverse merger with SilverSun Technologies
- MEV bot earns $1M but loses everything to a hacker an hour later
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Research and Insights Team
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