Weekly DeFi Update (Week 12, 21/03/2022 – 27/03/2022)
Terra’s UST is now exchangeable for BTC thanks to the integration by Thorchain. Minswap becomes top DeFi protocol on Cardano. Cronos Ecosystem Grant Program revealed batch 2 of grantees.
Key Takeaways
- Terra (LUNA) stablecoin UST has been integrated by the Thorchain (RUNE) protocol and can now be exchanged for Bitcoin (BTC) natively.
- Minswap (MIN), a recently-launched DeFi protocol on Cardano (ADA), has surpassed SundaeSwap (SUNDAE) in terms of TVL, making it the top DeFi protocol on Cardano with a TVL dominance of 65.85% at the time of writing.
- Former Polychain Capital partner Tekin Salimi launched a US$125 million crypto fund, dao5, to focus on investing in early-stage protocols and blockchain companies. Dao5 is on track to become a fully founder-owned DAO by 2025.
- The Cronos Ecosystem Grant Program, which focuses on supporting early-stage projects on Cronos, announced its second batch of beneficiaries.
- This week’s price and volume indices were positive at +11.29% and +20.91%, respectively, while the volatility index was negative at -47.26%.
Highlights
- Euler proposes eIP6: Bringing Chainlink (LINK) at the ensure degree
- Loopring (LRC) price surges by 50% after GameStop NFT marketplace integration
- DeFiance Capital rescues $13.3 million at risk of being stolen
- Solana (SOL) stablecoin project Cashio (CASH) plummets to zero after multi-million dollar hack
- MakerDAO (MKR) dev insists DeFi protocol should leverage real world assets to scale
- Litedex (LDX) protocol set to be listed on LBank exchange
- SushiSwap (SUSHI) community proposes Swiss legal structure to limit DAO liability
- FTMCRAZY: Introducing the new hybrid ROI DApp project in the crypto world
- dxFeed implements Airnode API3 to present pricing information for a broad array of Web3 applications
- Crypto investor Katie Haun raises $1.5 billion for Web3 venture fund
Check the latest prices on Crypto.com/Price
Top Token Metrics
| Metrics | Top 20 DeFi tokensmarket cap | Top 100 DeFi tokens market cap |
|---|---|---|
| Current | $99.14B | $126.25B |
| 7-Day Change | +6.82% | +8.86% |
| 14-Day Change | +15.39% | +18.46% |
Source: CoinGecko
DeFi Index Tokens
| Metrics | Price | Volume | Volatility |
|---|---|---|---|
| Top Gainers | LRC (+28.14%) REN (+21.41%) UNI (+16.21%) | LRC (+210.80%) NXM (+57.50%) COMP (+36.45%) | LRC (+159.95%) UMA (+4.55%) |
| Top Losers | SNX (-1.43%) | MKR (-22.63%) CRV (-18.28%) SNX (-16.35%) | COMP (-69.18%) YFI (-63.79%) NXM (-54.44%) |
| Benchmark | ETH (+11.08%) | ETH (+11.08%) | ETH (-55.21%) |
Notable Events
Notable Events
- Trader Joe (JOE) shows decline in TVL, possibly due to the cooling down of the native token AVAX after Avalanche launch on Anchor Protocol
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