🦄 Recap: DeFi Week of July 11

Hello Defiers! Rogue bots, trading dust-ups, exploits and contentious governance votes. That was just some of the drama that punctuated the DeFi week. Never a dull moment, eh? Amid the mayhem we also benefitted from solid research and captivating new video content courtesy of the invincible Robin Schmidt. So kick up your feet and unwind this weekend with the best of The Defiant this week…

For starters, we had a scoop on the new Ethereum documentary, The Infinite Garden, which will use — what else? — Ethereum tokens to finance its production via a crowdfunding round. Exclusive interviews with Vitalik Buterin and Aya Miyaguchi promise to make this an irresistible film. Can’t wait! The Defiant was also delighted to report on Damien Hirst’s new NFT project, in which the British artist will offer collectors a choice of digital versions of his famous spot paintings, or the actual versions on handmade paper.

But that was the tame side of a week that opened with a report from yyctrader on the clash between Adamant Finance and Alameda Research over a governance vote that pit the two entities against one another, at least for a spell. Not to be outdone, Owen Fernau waded into the controversial trades executed by the DeFi Education Fund and one of its committee members, the latest snafu to strike a project that’s already sparked a fair amount of angst about power grabs and centralization.

Meantime, The Defiant conducted its second Jam Session on our YouTube channel. These brainstorms are quickly becoming must-see TV for anyone in the community. And be sure to check out Camila Russo’s podcast with Tim Beiko and the future of Ethereum. It doesn’t get any more dynamic or fundamental than that! Enjoy…

ALSO, PSA: We are changing up our publishing schedule so that the weekly podcast will go out Mondays, and our jam-packed newsletter will go out Tuesday to Fridays, first thing in the AM.


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🙌 Together with: 

  • 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. 

  • The DeFi Pulse Index, a capitalization-weighted index that tracks the performance of selected DeFi assets across the market. 


Podcast

"It's Almost Like EIP-1559 Fixes an Economic Bug in Ethereum; More Usage Can Now Capture More Value:" Tim Beiko

In this week’s episode we speak with Tim Beiko, who organizes the Ethereum core developers calls and knows all the intricacies and latest development of the world’s most active blockchain. We spoke right after Beiko had proposed a date for the implementation of one of the biggest changes expected to happen to the Ethereum blockchain in recent history: EIP 1559. Tim explains in non-dev terms exactly how this change will reduce volatility in Ethereum gas prices and also reduce the uncertainty of whether user transactions are approved or not. Importantly, it also means that part of ETH paid per transaction will be burned, so that if demand for ETH and use of the Ethereum blockchain are greater than ETH issued, it should put pressure on the ether price to increase. 

📺 Watch:

🎙 Listen:


Video

📺 Jam Session 2: Lending giants feat. Stani, Rune, Leo and Calvin

📺 The Defiant Weekly: Bare Knuckle Governance, tales from the streets ($UNI, $SUSHI $ADDY)

📺 Tuesday Tutorials: GOD MODE UNLEASHED! Bumper Finance LP pools are FINALLY here

📺. Quick Take: Chainswap + Anyswap HACKED. What's up with GETH reorgs?

📺 First Look: Treasury Troubles Solved: with the UMA range Token


Opinion

🤖 Rogue Bots are Funneling Millions from Wax Blockchain’s Star Dapp Alien Worlds

In this week’s opinion piece, Man0000 blows the lid off the mining snafu going on in the blockbuster blockchain game, Alien Worlds. It’s a player’s lament on how rogue bots have been deployed in a beloved space, and what can be done to address the issue.


Inbox Dump #16

For paid subscribers only — The Inbox Dump is where we include the updates and announcements that flood our DMs each week and didn’t make it to The Defiant’s content platforms. We also include a compilation of DeFi and crypto funding rounds in the past week so you have these in one handy place.


Friday

Dive
Bytes
Research
Links

Thursday

Markets
Dives
Bytes
Links

Wednesday

Dives
Disputes
Research
  • The DeFi Future is Automated In this week’s research essay, David Liebowitz analyzes the state of play in development of the Ethereum-based automation and chronicles the efforts of a new crop of players in the space, Gelato, Keep3r, and Chainlink.

Links

Tuesday

Markets
  • Circle To Go Public in Q4 at $4.5B Valuation DeFi’s most popular stablecoin issuer is going public. Circle, which issues the USDC stablecoin, announced its plans yesterday to go public in Q4 of this year through a special purpose acquisition company (SPAC). The deal will happen with Concord Acquisition Corp. and Circle will trade under the ticker symbol CRCL with the transaction valuing the company at $4.5B.

Fundraising
Hacks
Links

💜Community Love💜

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

Twitter avatar for @brunoswerneckBruno Werneck de Almeida @brunoswerneck
'Tradfi' and DeFi yields converging was expected What wasn't is how quickly it happened after the DeFi devaluation in ~mid-May-21 Curious to see how this plays out during the next upswing cc '@LexSokolin @NikMilanovic @sytaylor
thedefiant.io/defi-rates-are… h/t @DefiantNews

𝚂𝚌𝚘𝚝𝚝 𝙻Ξ𝚠𝚒𝚜 🌾 @scott_lew_is

*THE COUPLING* of defi interest rates and tradfi interest rates is the least understood catalyst in defi right now. quickie thread on what that means for defi:

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).