🦄 Recap: DeFi Week of April 19

Hello Defiers! Hope you’re having a great weekend.

Summing up the past week: It was a volatile week in crypto markets with ETH climbing to a new all time high of over $2,600 only to slide down closer to $2,300. Our Defiant Weekly video goes into liquidators who profit off this volatility. Beyond the rollercoaster ride, we caught up on Ethereum’s strengthening fundamentals. Wyoming passed a bill that addresses the legal treatment of DAOs, while Kevin Nielsen of Boardroom wrote the must-read ecosystem map on decentralized organizations, and Jake Ryan of Tradecraft Capital wrote a very actionable piece on what gives governance tokens value.

Booming activity finally stretched the limits of Binance Smart Chain, causing its most popular app PancakeSwap to slow down. Also in BSC, the latest of the chain’s pump and dump coins Safemoon made it all the way to TikTok, whiplashing buyers as it soared and crashed. And speaking of going viral, meme-makers are finally able to cash out on their popularity by selling NFTs of their images — the woman in the “Overly Attached Girlfriend” meme and the makers of Nyan Cat are just two of many getting hefty paychecks.

There were a few projects updates, with Balancer V2 launching, Ampleforth releasing the FORTH token, Synthetix adding syntheitx assets of FAANG stocks, Curve launching on Polygon (Layer 2), Liquity attracted $2B in two weeks, and NFTHub releases a landing pad for the metaverse. We have guides on how to join the Gyroscope testnet in our Tuesday Tutorials, and how to yield farm on BarnBridge in this week’s Defiant Degens.

And there was more! There’s a lot going on, but we’ve got you covered :)


The open economy is taking over the old one. Subscribe to keep up with this revolution. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button below ($15/mo, $150/yr).


🙌 Together with: 

  • Zerion, a simple interface to access and use decentralized finance

  • Balancer, one of the leading DeFi automated market makers (AMM) for multiple tokens. Dive into their pools at https://balancer.finance/!

  • Kraken, consistently rated the best and most secure cryptocurrency exchange, which can get you from fiat to DeFi

  • Aave, an open source and non-custodial liquidity protocol where users can earn interest on deposits and borrow assets. 


Video

📺 Defiant Weekly: Liquidators, The Silent Killers of DeFi

📺 First Look: EPNS, Ethereum Push Notifications

📺 Quick Take: Redeem Money From The Future with Flashstake


Tutorials

🧑‍🏫 Defiant Degens: How to Master Tranche Lending and Farm Yield on BarnBridge

Opportunities: BarnBridge offers 4 tranche lending products for stablecoins and 3 farming opportunities to earn BOND. Be aware all these estimated rates change constantly, unless you purchase senior bonds and get a guaranteed fixed rate for the life of the bond.

  1. 4.52% APY -> USDC Senior

  2. 6.78% APY -> DAI Senior

  3. 4.47% APY -> USDC Junior

  4. 6.68% APY -> DAI Junior

  5. 45.57% APY -> SMART Yield staking (for USDC Juniors only)

  6. 54% APY -> Staking BOND in BarnBridge DAO

  7. 133% APY -> Staking BOND/USDC LP

👉 READ THE FULL TUTORIAL HERE, IN THEDEFIANT.IO 👈


📺 Tutorial: How to Join the Gyroscope Testnet


DeFi 101

🗺 What is a DAO? Mapping Out the Ecosystem

Kevin Nielsen of Boardroom writes an in-depth introductory piece on what DAOs are, why they are important, and what the ecosystem looks like today, including the different projects and their categories, and the infrastructure stack. It should be the starting point for anyone wanting to learn about this radical new way of human coordination.

👉 READ IT HERE, IN THEDEFIANT.IO 👈

🗳 Governance Tokens: Investing in the Building Blocks of a New Economy

 Jake Ryan of Tradecraft Capital writes an introductory oiece of governance tokens, the tools that allow individuals to participate in DAOs via governance, gain exposure to a protocol’s success, and sometimes even directly benefit from their revenue. The piece dives into the different characteristics that make governance tokens valuable.

👉 READ IT HERE, IN THEDEFIANT.IO 👈


📬 Inbox Dump #5

Only for paid subscribers: The Inbox Dump is where we include the updates and announcements that flood our DMs each week and didn’t make it to our content platforms. At The Defiant we cover the most important DeFi-related news and developments but I know many of you are hunting for projects before they are fully developed and before they are newsworthy. The goal with this installment of the newsletter is to help you find them. Look at this as the starting point to DYOR. We also include a compilation of DeFi and crypto funding rounds in the past week so you have these in one handy place.


Friday

Dives
  • Wyoming is Turning Into the Delaware of Digital Assets: Governor Mark Gordon signed bill SF38 into law on Wednesday, making Wyoming the first state in the country to address the legal treatment of decentralized autonomous organizations, or DAOs. SF38 addresses liability concerns around DAOs by applying a limited liability company (LLC) status to them, effective July 1st. 

Markets
Bytes
Links

Wednesday

Markets
  • DeFi is Deleveraging After Liquidations: Decentralized lending markets experienced tumultuous action during the weekend. On-chain activity points to markets deleveraging and investor repositioning from lenders to yield aggregators amid the crash. 

Dives
Bytes
  • Synthetix to Add Tokens Linked to FAANG Stocks: Synthetix, the synthetic derivatives protocol, will launch its Alnilam update tomorrow which includes three Synthetix Improvement Proposals (SIPs) and adds support for eight new assets, including tokens tracking prices for FAANG stocks –– Facebook, Amazon, Apple, Netflix and Google

  • Injective Protocol Raises $10M at $1B Valuation: Injective Protocol, a decentralized derivatives exchange, said it raised a $10M at a $1B valuation from investors including Pantera Capital, BlockTower, Hashed, Cadenza Ventures (formerly BitMex Ventures), among others. 

Links

Tuesday

Dives
Bytes

💜Community Love💜

Thanking all the amazing Defiers for the support and love this week (and always)!

Twitter avatar for @DeFi_DadDeFi Dad ⟠ defidad.eth @DeFi_Dad
Learn how to lock in fixed rates lending stablecoins with @Barn_Bridge and for those in junior tranches earning variable rates, earn $BOND up to 44% APY. 🌉4 lending products 🌉3 farms ⚡️To become a BOND/USDC LP, go to @zapper_fi:
zapper.fi/invest?protoco…

The Defiant @DefiantNews

🎙️ In today's Defiant: #TuesdayTuts 👨‍🌾Yield Farming on @Barn_Bridge #DefiantDegens 🌀 @GyroStable testnet ⚡️ @CurveFinance launches on @0xPolygon ⚡️ @LiquityProtocol attracts $2.4B TVL ⚡️ @BalancerLabs V2 goes live ⚡️ @NFThub launches $gNFT Read more👇 https://t.co/rE4qVFmf0n https://t.co/PZXzK6mFMG

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 below ($15/mo, $150/yr).