- Yearn Finance (YFI) announced its support for the newly-passed ERC-4626 standard for Yearn’s V3 vaults. The new standard is expected to enhance the composability of yield-bearing vaults across multiple networks.
- Following its recent Bitcoin purchase, Luna Foundation Guard (LFG) announced a deal with Avalanche Foundation to acquire US$100 million of AVAX to back Terra’s algorithmic stablecoin UST.
- MM Finance (MMF) announced a strategic reboot this week. The set of changes include less aggressive bond sales, huge burning strategy, and liquidity mining incentives.
- WAVES’s algorithmic stablecoin USDN lost its U.S. dollar peg. This followed its native token that backs the dollar-pegged cryptocurrency WAVES saw a double-digit price slide.
- This week’s price and volume indices were negative at -13.94% and -38.50%, respectively, while the volatility index was positive at +10.22%.
- Convex Finance (CVX) addresses bug that could have led to a US$15 billion rug pull
- Near Protocol (NEAR) to launch its own stablecoin USN on 20 April 2022
- Inverse Finance loses over US$15 million in DeFi platform hack
- Sushi (SUSHI) and Synthetix (SNX) get the boot in Grayscale DeFi fund rebalancing
- Gamma’s AI-powered liquidity strategies for Uniswap (UNI) are coming to Polygon (MATIC)
- Terra Wallet Leap raises US$3.2 million in private token sale
- CLabs to work with eCurrency to integrate CBDCs with DeFi
- Cardano (ADA) DEX Bashoswap (BASH) expands to Mikomedia Testnet and announces private BASH token sale
- Lithium Finance (LITH) updates its whitepaper with quite a few new classes
- Bastion Protocol (BSTN) raises round led by ParaFi Capital
- EverLend (LEND), first lending protocol on Everscale Network, kicks off operations with successful LEND token launch
- Interlay introduces new protocol for Bitcoin’s reciprocal relationship with DeFi
- DeFi platform EQIFi (EQX) introduces new mobile app with yield aggregator
- DeFiChain adds new tokens associated with MicroStrategy, Intel, and Walt Disney
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- FXS price has been cooling down after Terra’s introduction of stablecoin pool ‘4pool’.
- AAVE was possibly cooled down after a recent surge over its V3 launch.
- BAL topped the change metrics following a Vote-Escrow system launch.
- The performance of the DeFi sector declined in general this week, with Spookyswap (BOO)’s TVL sliding the most, at -17.21%. This was likely associated with the price drop of Fantom (FTM), which the price fell by -24% from 4 April to 10 April.