Weekly DeFi Update (Week 21, 23/05/2022 – 29/05/2022)
Uniswap hits $1T in lifetime trading volume, USDT loses $10B in market cap and launches on Polygon. Terra will burn 1B UST in an effort to restore the dollar peg.

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
Source: CoinGecko
DeFi Index Tokens
DEX Metrics
** Omitted due to incomplete source data
Sources: CoinGecko, DeFi Llama, Nomics
Share with Friends
Related Articles
DeFi & L1L2 Weekly — 🚀 Ethereum’s Pectra upgrade successfully deployed on the Sepolia testnet; pump.fun saw a significant drop in token launches
📈 La dominance di Bitcoin ha raggiunto un massimo di 4 anni del 62%; Trump ha annunciato una riserva strategica di cripto con BTC, ETH, XRP, SOL e ADA
DeFi & L1L2 Mingguan — 🚀 Cronos memelopori transfer kripto-ke-debit yang mulus; Virtuals Protocol mengalami penurunan volume jual-beli sebesar 95%
Ready to start your crypto journey?
Get your step-by-step guide to setting upan account with Crypto.com
By clicking the Submit button you acknowledge having read the Privacy Notice of Crypto.com where we explain how we use and protect your personal data.