🦍 Ape Diaries: Inside Gasless Yield Farming on Aurora

Hello Defiers! Here’s what we are covering today,

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Most Read on The Defiant

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DAOs

📜 ConstitutionDAO Members Decry High Gas Fees After Narrowly Losing Auction

NEWS ConstitutionDAO fell short in its bid to purchase the last remaining privately owned first edition print copy of the U.S. Constitution in a public auction held on Nov. 18. And some of the community’s members are grumbling that high gas fees may have been partly to blame.

LAYER 2 Although the community raised about  $47M, the document was sold to an unknown bidder for $41M ($43.2M including auction fees).  Supporters speculated that the DAO lost because it couldn’t produce enough additional funds to maintain the document. Others said the DAO may have made a stronger bid if it had used a Layer 2 blockchain instead of Ethereum’s mainnet. 

AUCTION “The gas fees spent would have made up the difference of winning the auction,” said dennis hegstad, the founder of LiveRecorder founder. This version of the U.S. founding charter is one of thirteen surviving copies printed after the Constitutional Convention of 1787. The late real estate developer Howard Goldman purchased it from Sotheby’s in 1988 for $165,000.

👉READ THE FULL STORY IN THE DEFIANT.IO👈


DeFi Stablecoins

📈 Supply of Terra Stablecoin UST Doubles to $6.49B After Governance Move

DOUBLED The supply of UST stablecoin has more than doubled in the past nine days to reach $6.4B. That places the coin $2B behind DAI, the stablecoin produced by the Maker protocol, as of Nov. 18.

GOVERNANCE Fans of the Terra ecosystem, which produces the UST stablecoin, may need to hold off rejoicing though because the increase doesn’t stem from user demand but rather a governance proposal.

TREASURY Here’s what happened: The governance voted to burn 88.68M LUNA tokens, worth over $3.5B at the Nov. 18 price of $40.21. Those LUNA tokens came from “seigniorage rewards,” which were deposited in Terra’s treasury when users swapped them for UST tokens when demand pushed the stablecoin’s value above $1.

👉READ THE FULL STORY IN THE DEFIANT.IO👈


Yield Farming Primer

🦍 Ape Diaries: Gasless Yield Farming on Aurora, NEAR’s EVM-Compatible Blockchain

In which yyctrader walks us through a hot yield farming protocol and interviews Matt Henderson, head of product at Aurora.

YIELD FARM The first yield farm is live on Aurora, an Ethereum Virtual Machine (EVM) compatible blockchain built by NEAR Protocol. The best part? Zero gas fees as a gesture of goodwill to early adopters.

LIQUIDITY Trisolaris is a decentralized exchange on Aurora that launched its liquidity mining program on Nov. 16 and crossed $50M of Total Value Locked in just over a day.

SCALABLE “Aurora is an EVM built on the NEAR Protocol, delivering a turn-key solution for developers to operate their apps on an Ethereum-compatible, high-throughput, scalable and future-safe platform, with low transaction costs for their users,” says the website.

INTERVIEW We went straight to the source and interviewed Matt Henderson, head of product at Aurora.

👉READ THE FULL STORY IN THE DEFIANT.IO👈


Sponsored Post

Fintech Meetup is fintech's next big event! No Speakers. No Content. Just 30,000+ online meetings so you can meet the fintechs, banks, networks and investors who are driving DeFi and Fintech forward. Learn More & Get Ticket

Fintech Meetup: DeFi x TradFi x 30,000+ Online Speed Date Meetings! Join the next big event in Fintech and for the easiest way to create DeFi & Crypto opportunities, deals and partnerships.

Meet with DeFi & Crypto companies including BitPay, BlockFi, Circle, Onyx & Ripple (and many more!) plus the fintechs, networks and solution providers making DeFi & Crypto plays, including Finastra, Fiserv, JPMC Merchant Services, Mastercard, Veem & Visa (to name just a few!). Plus investors, banks, tech cos and many others.

Online, March 22-24. Qualifying startups can get discounted startup rates. Learn More & Get Ticket


The Tube

📺 SuperMassive NFT Show: J1mmy, Kingship and SupDucks' FrankyNines

📺 Keeping it Real: Taproot, Van Eck ETF shutdown and Coinbase NFTs

📺 First Look: Sweep the Floor with Genie | Metaverse Aggregator


Links

🔗 Binance Completes Aribitrum One Integration and Opens Layer 2 ETH Deposits: Binance

Binance completes the Arbitrum One mainnet integration and has opened deposits for ETH on Arbitrum One Layer 2. Please find your assigned ETH deposit addresses on the Aribitrum One Network in the Deposit Crypto page.

🔗 Introducing Aave Arc: Mirror

Since its launch in January 2020, the Aave Protocol—an open source, decentralized, non-custodial liquidity protocol—has experienced exponential growth with peak liquidity reaching over USD 30 billion, and total active users totaling nearly one million.

🔗 Chainlink Keepers Now Live on Polygon Mainnet to Automate Smart Contract DevOps: Polygon

Polygon is committed to providing developers with the best infrastructure for building secure and fully functional dApps in an accelerated manner. It’s why we integrated both Chainlink Price Feeds and Chainlink VRF to give developers access to time-tested infrastructure for decentralized price oracles in DeFi and secure RNG in gaming and NFTs. 

🔗 $400M funding round to help Gemini build in the decentralized metaverse: CoinTelegraph

The Winklevoss twins’ crypto exchange, Gemini, will allocate capital from its $400-million funding round into building a “Gemini experience in different Metaverses.”

🔗 Snoop Dogg, Deadmau5 Headline New Members of Outlier Ventures’ Metaverse Accelerator: CoinDesk

Celebrities Snoop Dogg and Deadmau5, consumer brand guru Shaun Neff and the founders of Sandbox and the Polygon Network are the newest members of Outlier Ventures’ Base Camp Web 3 accelerator and will invest in and advise the program’s startups.


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🧑‍💻 ✍️ Stories in The Defiant are written by Brady Dale, Owen Fernau, Samuel Haig, DeFiDad, and yyctrader, and edited by Edward Robinson, yyctrader, Bailey Reutzel, and Camila Russo. Videos are produced by Robin Schmidt, Alp Gasimov and Daniel Flynn. Podcast is led by Camila, edited by Alp.


The Defiant is a daily newsletter focusing on decentralized finance, a new financial system that’s being built on top of open blockchains. The space is evolving at breakneck speed and revolutionizing tech and money. Sign up to learn more and keep up on the latest, most interesting developments. Subscribers get full access, while free signups get only part of the content. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button above ($15/mo, $150/yr).