š·š»āāļø Polkadotās Parachain Winners Make Strides in Building Sharded Ecosystem
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News
Polkadotās Parachain Winners Make Strides in Building Sharded Ecosystem
Opyn to Unveil Squared ETH Token as DeFi Derivatives Race Heats Up
Strip Mall Icon RadioShack Resurrected as a DeFi Play With Token
Video
Tuesday Tutorial: How to be safer and smarter using Metamask
Quick Take: We fact-checked your favorite millionaire "Finfluencer" - what did we find?
Links
The Bull Case For ETH III | Anthony Sassano, DC Investor, Cyrus Youness: Bankless
The New Get-Rich-Faster Job in Silicon Valley: Crypto Start-Ups: The New York Times
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Polygonās Surprise Code Change Triggers Questions and Controversy
Market Action: Terra Leapfrogs Binance Smart Chain with Surge in TVL
DeFi Kingdoms Challenges Axie Infinityās GameFi Supremacy with NFT Play
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Balancer, one of the leading DeFi automated market makers (AMM) for multiple tokens. Dive into their pools at this link.
Kraken, consistently rated the best and most secure cryptocurrency exchange, which can get you from fiat to DeFi
Polymarket is a decentralized information markets platform, harnessing the power of free markets to demystify the real world events that matter most to you.Ā Learn More!Ā
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Parachains
š·š»āāļø Polkadotās Parachain Winners Make Strides in Building Sharded Ecosystem
AUCTIONS Polkadotās first round of five parachain auctions have concluded and the winners are now producing blocks, setting Polkadotās sharded ecosystem into motion for the first time.
BUILDING OUT The launch of parachains ushers functionality for smart contracts and other specialized computation on the Polkadot network, allowing top developers to begin building out Polkadotās DeFi and the broader ecosystem.
STAKING The first five parachains belong to fintech-focussed DeFi hub Acala Network, EVM-compatible smart contract network Moonbeam, WASM and EVM smart contract platform Astar Network, decentralized lending and staking platform Parallel Finance, and cross-chain compatibility platform Clover Finance.
TRANCHES OF TOKENS Each project went live as a parachain and began producing blocks on Dec. 18. The winners now predict their dapps and liquid staking derivatives will go live before February, with the initial tranches of tokens distributed through the auctions also slated to unlock during January.
šREAD THE FULL STORY IN THE DEFIANT.IOš
Tokenomics
š Yearn Finance Changes Up its Tokenomics and YFI Soars 85%
DOUBLE DIGITS Itās been a tough year for many DeFi protocols originating on the Ethereum blockchain. Despite being up in dollar terms, top tokens like UNI, MAKER, AAVE and Yearn Financeās YFI have bled double digits against ETH in 2021.
SEVEN DAYS There may be respite for one of them. Yearn, the yield aggregator, has introduced new tokenomics and its YFI token jumped 87.1% in the seven days ending Dec. 20, according to CoinGecko.Ā
CATALYST The apparent catalyst for YFIās momentum is the tokenās revamped tokenomics, according to a post linked by Yearn on Dec. 19. The proposal hasnāt been approved, but it is expected to do so, according to the post, which says the mechanics will create a āblack hole āfor YFI, meaning supply will come off the market along with a corresponding price increase.
YFI First and foremost among the proposed changes is the ability to stake YFI in exchange for xYFI, holders of which will receive additional YFI which Yearn buys on the open market. The mechanic will directly reward stakers while the purchases push YFIās price northward.
šREAD THE FULL STORY IN THE DEFIANT.IOš
DeFi Markets
š Opyn to Unveil Squared ETH Token as DeFi Derivatives Race Heats Up
NEWS Here comes SQUEETH.Ā Decentralized options protocol Opyn is readying to launch its Squared ETH or SQUEETH token, which is designed to hedge ETH-based liquidity provider (LP) positions on automated market maker (AMM) exchanges.
DEFI PRIMITIVE In a Dec. 17 blog post, Opyn developer Joe Clark described SQUEETH as a ānew DeFi primitiveā that allows stablecoin/ETH liquidity providers to earn swap fees without being exposed to the impact of price fluctuations in Ethereum.
YIELD The instrument will be a new addition to Ethereumās growing ecosystem of decentralized derivatives, with DeFi traders able to hedge using yield tokenization, leveraged tokens, structured options products, and futures contracts offered by decentralized protocols. Opyn has not announced an expected launch date for the product.
Comparative curvatures of Uniswap v3 LP position for USDC/ETH, SQUEETH, and ETH short positions. Source: Joe Clark
šREAD THE FULL STORY IN THE DEFIANT.IOš
DeFi Revivals
š§āāļø Strip Mall Icon RadioShack Resurrected as a DeFi Play With Token
BUZZ WORDS Crypto is an industry known for entrepreneurs slapping buzz words on projects they hope hit the jackpot. A less trod path is buying a venerable brand that went bankrupt in 2015, and resuscitating it as a DeFi project.Ā
OBJECTIVE Thatās whatās happening with RadioShack, a 100 year-old consumer electronics retailer revived by internet entrepreneurs Tai Lopez and Alex Mehr as a DeFi protocol. The new RadioShackās primary objective is to distribute blockchain technology, according to the projectās docs, which targetĀ āblue chip, large corporationsā as adopters.Ā
JUMP THE SHARK The project has raised some eyebrows as a possible jump-the-shark moment. āWe have a month, 6 weeks tops left in this bull market,ā tweeted Brantly Millegan, director of operations at Ethereum Name Service. āIf RadioShack DeFi and Melania NFTs arenāt a signal then I donāt know what is.āĀ
šREAD THE FULL STORY IN THE DEFIANT.IOš
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The Tube
šŗ Tuesday Tutorial: How to be safer and smarter using Metamask
šŗ Quick Take: We fact-checked your favourite millionaire "Finfluencer" - what did we find?
Links
š What made Sam Bankman-Fried launch FTX ā and what he now thinks about the world (Part 1): The Block
Episode 85 of Season 3 of The Scoop was recorded remotely with The Blockās Frank Chaparro and CEO Sam Bankman-Fried of FTX.
š The Bull Case For ETH III | Anthony Sassano, DC Investor, Cyrus Youness: Bankless
Anthony Sassano, DC Investor, and Cyrus Younessi return to Bankless to complete the Bull Case for Ethereum Trilogy.
š The New Get-Rich-Faster Job in Silicon Valley: Crypto Start-Ups: The New York Times
When Sandy Carter left her job as a vice president of Amazonās cloud computing unit this month, she announced in a LinkedIn post that she was joining a crypto technology company.
š Sorbet Finance Vulnerability Post Mortem: Medium
On December 11th around 10:15 CET, we were alerted of a critical vulnerability in a smart contract used on Sorbet Finance.


Trending in The Defiant
Polygonās Surprise Code Change Triggers Questions and Controversy In web3, there arenāt many words more fought over than ādecentralization.ā So if someone calls a blockchainās decentralization into question, itās going to draw a crowd.
Market Action: Terra Leapfrogs Binance Smart Chain with Surge in TVL Terra is still on a roll.Ā Defying a relentless selloff across crypto markets, the Layer 1 smart contract platformās LUNA continues to capture DeFi marketshare.
DeFi Kingdoms Challenges Axie Infinityās GameFi Supremacy with NFT Play Questioning the utility of NFTs as simple collectables may be missing the point.Ā DeFi Kingdom, an entrant to the blossoming GameFi sector, is expanding the definition of NFTs by offering its version of the tokens, called Heroes.
š§āš» āļø Stories in The Defiant are written by Brady Dale, Owen Fernau, Samuel Haig, DeFiDad, and yyctrader, and edited by Edward Robinson, yyctrader, and Camila Russo. Videos are produced by Robin Schmidt, Alp Gasimov and Daniel Flynn. Podcast is led by Camila, edited by Alp.
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