Recap: DeFi Week of Dec. 2 🦄

Hello defiers, hope you’re having a great weekend!

Summing up las week: Ethereum successfully upgraded with changes to allow for more private and scalable dapps by making zk-SNARKS and zk-STARKS cheaper to implement. As a result, zk-based solutions are on fire. Eth2 development is also making progress. One of the first Dai-based financial primitive was launched with Chai, and there’s a Dai-first wallet in development.

Also: My book The Infinite Machine, about the history of Ethereum, is available for pre-order! You can get a physical, audio or digital copy now to get right on the July 14 launch.


News & Views

Friday

  • Ethereum Wallet That Doesn’t Make Users Hold ETH: Authereum is building a wallet in which DAI is the primary asset displayed upfront by default, users can buy DAI with their debit cards directly and transaction fees can also be paid in DAI.

  • Matter Labs Promises VISA-Like Scalability With ZK Sync: The Matter Labs team says its Layer 2 solution can achieve high throughout and privacy, without compromising on decentralization or security.

  • Brave Crosses 10m Monthly Active Users: Brave browser crossed 10 million monthly active users and almost one fourth of them have a BAT token address.

Thursday

  • Ethereum About to Undergo a Major Upgrade: The Ethereum network is scheduled to upgrade in the Istanbul hard fork, paving the way for more scalable and private applications.

  • DeFi Dashboard Raises $2 Million in Seed Round: Zerion raised $2 million in a seed funding round led by Placeholder, with participation from Blockchain Ventures and Gnosis.

Tuesday

  • Chai Lets You Earn Interest on Your Dai: Chai is a token wrapper which allows Dai holders to easily start earning interest on their stablecoin.

  • Does DeFi Cannibalize PoS?: There’s a risk that decentralized finance will cannibalize proof-of-stake as its platforms offer higher returns than becoming a validator, Haseeb Qureshi of Dragonfly Capital wrote in a blog post.

  • Report Shows DeFi Explosion in the Third Quarter: Graychain published a Crypto Credit Report for the third quarter, focusing on DeFi, showing a Coinbase program spurred an explosion of DeFi addresses.

💜Community Love💜

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


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