🌊 Lido Floods Layer 2s with Staked ETH After Launching Incentives Program
Hello Defiers! Here’s what we’re covering today:
👀 Defiant Premium Story for Paid Subscribers (📜Scroll to the end!)
Trending in The Defiant
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).
Lido Scrambles to Counter Coinbase and Rocket Pool as Staked ETH Market Heats Up
INTEGRATION Lido is flooding Arbitrum and Optimism, Ethereum’s most popular scaling protocols, with its staked ETH tokens. And it’s set aside half a million dollars in incentives to do so. Less than a week after Lido announced its integration with Arbitrum and Optimism, the Layer 2 blockchains have received a combined $9M in wstETH.
XEN Accounts For More Than 40% Of Gas Used On Ethereum In The Past Day
By Owen Fernau
SUPPLY Well, that didn’t take long. Less than a month since The Merge, ETH supply has dropped by more than 2,000 digital tokens, according to ultrasound.money.
DeFi Saver is an all-in-one dashboard for creating, managing and tracking your positions with automatic liquidation protection and leverage management options for only the most trusted DeFi protocols.
Recently Compound introduced their much-anticipated version 3 of the famous protocol. DeFi Saver empowers the latest version’s experience with the most complete feature set to date.
Use DeFi Saver to manage your lending & borrowing positions in Compound with a dedicated Compound v3 dashboard with 1-tx (de)leveraging features or rely on the automated leverage management and liquidation protection to make sure you’re safe from liquidation when leveraging assets like ETH or BTC.
Simply migrate your Comp v3 position or transfer from other integrated protocols in a single transaction with the unique DeFi Saver’s Loan Shifer feature. You can also easily combine Comp v3 actions with other protocols, for example, to make use of the high interest and COMP incentives earned on the borrowing of the USDC. You can supply borrowed USDC to one of the yield farming protocols integrated in the DeFi Saver for additional interest. All this can be done in a single transaction using their Recipe Creator feature.
There is also the all *new* Notifications feature with prompt notifications about position ratio changes and executed automated transactions delivered straight to your email or Telegram.
Get the most out of your Compound v3 experience with DeFi Saver.
Bankruptcy Court’s Ruling Clashes With Crypto Privacy in Bellwether Case
INFURIATING At least they didn’t include home addresses. Bankrupt crypto lender Celsius disclosed the names and transaction histories of its customers in a court filing Wednesday, infuriating the privacy-obsessed crypto community, but drawing a shrug from experts who say that kind of disclosure is common in bankruptcy proceedings.
Move Comes Despite Founder’s Reservations About Real-World Assets
By Owen Fernau
INVEST The largest DeFi lender will soon invest up to $500M of USDC into U.S. treasuries and corporate bonds. A $1M test transaction has already been initiated with the full amount to follow shortly.
Smart Contract Bug Opened Up Swap Aggregator to $29M Hack
DEAL In a deal that demonstrates the mounting influence of bounties in crypto exploits. TransitFinance, a cross-chain swap aggregator, announced on Oct. 10 it had reached an agreement with a hacker behind the $29M exploit of the protocol last week.
Observers Suspects a Serial Scammer
By Owen Fernau
SCAM Yet another holder of Bored Ape Yacht Club (BAYC) NFTs has fallen prey to a phishing scam. The latest theft resulted in the loss of seven of the NFTs, each worth over $100,000 at current floor prices.
Orange Comet is proud to announce its distinguished partnership with Sir Anthony Hopkins and the launch of his first NFT series, The Eternal Collection
The NFT series will feature an exclusive once-in-a-lifetime IRL event for collectors, giving them access to engage with one of Hollywood’s greatest icons.
A Step-by-Step Guide to the Ethereum Compatibility Network
CHALLENGE More than half the traffic in the decentralized finance (DeFi) ecosystem runs is on Ethereum. This includes lending dApps, exchanges, blockchain games, and NFT marketplaces. So, how does a competitive blockchain challenge such a powerful first-mover advantage?
South Korean blockchain investment firm Blockwater Technologies defaulted on a loan from TrueFi, a decentralized lending protocol, TrueFi said in a statement Sunday.
Trending in The Defiant
Starkware Founders: Ethereum Could Surpass Visa’s Transaction Speeds Within Months Uri Kolodny and Eli Ben-Sasson are the co-founders of Starkware, one of the leading scaling solutions for Ethereum.
Sushi Rallies After GoldenTree Discloses $5M Position GoldenTree, a privately-held firm with $50B in assets under management, has bought and staked $5.2M worth of SUSHI tokens. The American asset manager disclosed its position on Oct. 5 in Sushi’s governance forum.
THORChain Breaks Free of Early Troubles With Avalanche Integration Despite a rough start that would have killed many young companies, THORChain continues to build and raise capital, buoyed by its unique place in the crypto ecosystem.
🧑💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.
Free subscribers to the newsletter get:
Daily news briefings
Sunday Weekly recap
General chat on The Defiant’s Discord server
👑Prime defiers get:
Full transcript of exclusive podcast interviews
DeFi Alpha weekly newsletter on how to put your money to work in DeFi by yyctrader and DeFi Dad
Weekly live DeFi Alpha call with yyctrader
Inbox Dump edition of The Defiant newsletter every Saturday with all the PR that didn’t make it to our content channels
Exclusive community calls with the team
Subscriber-only chats on The Defiant Discord server
Full access to The Defiant’s content archive
Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button below ($15/mo, $150/yr).
You can start a prime membership for free right now with this link. You’ll get full access for 7 days. It’s 100% risk-free.
👀 Defiant Premium Story for Paid Subscribers
DEX’s New Head Chef Rejects ‘Untrue’ Accusations of Ripoffs and Bestiality
By Samuel Haig
TURMOIL Less than a week after SushiSwap sought to end a period of turmoil with the election of Jared Grey as head chef, the decentralized exchange was engulfed in controversy yet again as a series of extraordinary allegations were leveled at its new hire.
SCAMS On Oct. 11, a self-styled “ETH and DeFi enthusiast” called YannickCrypto accused Grey of being involved with multiple crypto scams. Then Twitter lit up with bizarre allegations that Grey had engaged in bestiality with a horse.
To read the full story subscribe to The Defiant newsletter.
Keep reading with a 7-day free trial
Subscribe to DeFi, NFT & Web3 Insights - The Defiant to keep reading this post and get 7 days of free access to the full post archives.