Weekly DeFi Index

This week’s price, volume, and volatility indices were positive at +21.92%, +59.15%, and +44.81%, respectively.

DeFi Index Tokens

* DeFI index tokens: AAVE, BAL, CAKE, COMP, CRV, CVX, FXS, JOE, LDO, LINK, MKR, OSMO, REN, SNX, SPELL, SUSHI, UNI, VVS, YFI.

News Highlight

Aave passed a proposal to launch a crypto-based stablecoin, GHO. The fully collateralised stablecoin is native to the Aave ecosystem and will be initially available on the Ethereum network.
Ethereum’s tenth “shadow fork” went into effect. In preparation of The Merge, Ethereum has been undergoing a series of tests (or “shadow forks”), which copy data from the mainnet to a test network. Additionally, the Goerli testnet merge, the final update before the Merge date, is expected to happen on 10 August.
Harmony proposed a reimbursement plan to make up the US$100 million hack of its Horizon Bridge in June. The plan involves a hard fork of the chain, which will mint billions of ONE.

DEX Protocols Metrics

Sources: CoinGecko, DeFi Llama, Crypto.com Research

Lending Protocols Metrics

*LDR (Loan to Deposit Ratio) = Total Borrowed / TVL
Sources: CoinGecko, DeFi Llama, Nomics, Crypto.com Research

Charts on Layer 2 Projects

Overall, the L2 market saw +10.67% growth over the past week and the projects adopted Optimistic Rollup and ZK Rollup gained +13.94% and +4.51%, respectively, while Ethereum’s TVL rose 9.68%.

Optimistic Rollup still dominates the L2 market with over US$3.8 billion in TVL. Additionally, Optimism’s TVL surged around 32% during the week.

For ZK Rollup projects, StarkNet gained traction with over 15% growth in TVL week on week.

Further Reading

Author

Research and Insights Team

3 Aug 2022|MARKET UPDATES

DeFi & L1L2 (Week 30, 27/07/2022 – 02/08/2022)

Aave passed proposal to launch crypto-based stablecoin, GHO. Ethereum’s tenth “shadow fork” goes into effect. Harmony proposes a hard fork to reimburse users’ funds with minting billions of ONE.

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