Weekly DeFi Update (Week 22, 30/05/2022 – 05/06/2022)

Terraswap is live on Terra 2.0, and Terra Classic LUNC is hacked. Kava Networks partners with Sushi in a move to expand its DeFi offerings. Chainlink’s VRF v2 launches on Polygon.

Key Takeaways 

• New applications launched on Terra 2.0 (LUNA), while on Terra Classic (LUNC), a US$90M hack went undiscovered for seven months.
• Chainlink VRF v2 launched on Polygon (MATIC), upgrading the developers’ toolkit for decentralised applications.
• The Kava Network (KAVA) partnered with Sushi (SUSHI) in a move to expand its DeFi offerings.
• This week’s price index and volatility were positive at +3.16% and +19.81%, respectively, while the volume was negative at -9.28%.

Highlights

• Crypto lender Celsius partly responsible for Terra collapse, says Nansen
• Chainlink (LINK)  brings price feed data to Solana (SOL) for DeFi support
• Stakeall Finance launches liquid staking shuttle for Lido (LDO) on Polygon
• DeFi crypto wallet aims to decentralize inheritance of crypto and NFTs
• Tron (TRX) becomes DeFi’s third-largest blockchain thanks to Terra-Like stablecoin
• WAVES jumps 27% after vote to liquidate USDN whales’ accounts gets massive support
• Velodrome (VELO) AMM launches airdrop on Optimism
• DeFi educator says $22B in ETH 2.0 funds won’t be liquid immediately after PoS transition

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