Weekly DeFi Update (Week 21, 23/05/2022 – 29/05/2022)

Key Takeaways 

• Uniswap (UNI) hit a milestone of US$1 trillion in lifetime volume since its launch on Ethereum (ETH) four years ago.
• Tether (USDT) shed US$10 billion of its market cap since the Terra (LUNA) collapse, falling to US$72.47 billion. Meanwhile, USDT expanded its blockchain arsenal with a Polygon launch.
• Terra’s community voted to burn 1 billion UST in an effort to restore the dollar peg, while Nansen debunked the case that a single attacker destabilised UST.
• This week’s price index was negative at -11.73%, while the volume and volatility indices were positive at +4.12% and +12.21%, respectively.

Highlights

• TRON flips Shiba Inu (SHIB) in market capitalisation, 5.8 billion TRX burned
• TRON overtakes Avalanche to become the third-biggest network by DeFi TVL
• Lido (LDO) community to vote on limiting protocol’s share of ETH
• Common raises US$20 million to build DAO management platform, launch token
• WAVES announces DeFi Revival Plan to fix the aftermath of USDN’s depeg and the liquidity crisis at Vires Finance
• Dogecoin-Ethereum Bridge for DeFi use remains on track: DOGE developer
• Brave integrates Solana (SOL) as part of browser’s Web3 push
• Cardano (ADA)’s Epoch 340 is finished as smart contract usage spikes to 29%
• New DeFi Index targets ‘proven’ blue-chip assets
• Algorithmic stablecoin resiliency more important than growth: Vitalik Buterin
• Anchor Protocol got exploited with launch of Luna 2.0, user makes “free” US$800,000
• Siam commercial bank Is chasing DeFi yield through compound
• Yearn Finance (YFI)’s Q4 2021 report

Check the latest prices on Crypto.com/Price

Top Token Metrics

DeFi Index Tokens

DEX Metrics