Recap: DeFi Week of Feb. 3 š¦
Hello Defiers, hope youāre all having a great weekend!
Summing last week up: Thereās now $1 billion held in DeFi! MakerDAO raised Dai Savings Rate to 8.75 percent. Lots of platform updates; Social money was added to Sablier so it can now be streamed, DeFiZap launched Zap Out, Idle Finance released its v2, DEX.AG unveiled its Expert Trading interface, Maple Finance launched community-backed loans. Inventions and investigations; the first collateral swap via flash loans was executed, and most DeFi projects can unilaterally change their code on you. PoolTogether raised $1 million. I did an in-depth interview with 1inch co-founder Sergej Kunz, and crypto investor David Iach wrote a column how Ethereum is supercharging finance. And yes, thereās even more :)
Friday Op-Ed
Ethereum May Be One of The Most Important Innovations for Finance: David Iach
Crypto investor David Iach recently spurred up debate around the need for an Ethereum-based fundraising mechanism that aligns investorsā and projectsā incentives. Iach dives deeper into his āliquidity fundraisingā idea. He also describes two new innovations: āinfluencer financingā and āno-loss investing.ā
Monday Interview
"Soon, Nobody Will Use Centralized Exchanges Because They'll Have Lost Trust in Them," 1inch Co-Founder Says
This weekās interview is with Sergej Kunz, co-founder of 1inch, the dex aggregator with the highest volume. He attributes his early success to the algorithm his team developed to provide the best prices, and their aggressive strategy. But this strategy ā embodied in their logoās āmanic unicornāā has also stirred up some controversy in the ecosystem along with a debate on open source versus copyrighted code.
Thursday
First
Exclusive: DEX.AG Unveils New Interface Today: Decentralized exchanges are increasingly adopting the look and functionality of their centralized counterparts. The latest one to make strides in this direction is DEX.AG.
Dives
How to Earn 8.75% on Your Savings: The āDeFi central bankā has raised its savings rate to just under 9 percent, which means anyone can start earning that right now on a dollar-pegged digital asset. A step-by=step how-to with Argent.
Sums
Flash Loans Enable First Collateral Swap: Things in DeFi are getting weirder. Developer David Truong created the first collateral swap in DeFi using Aaveās flash loans and Uniswap.
Most DeFi Projects Can Single-Handedly Change Code: Most DeFi projects can unilaterally make changes to their code, content creator Chris Blec said in a video.
Bytes
Tuesday
Dives
Streaming Social Money is the Future of Work: Just in the past couple of months developers created an easy way for anyone to issue their own personal tokens, while a different team created a way for anyone to create payments streams. Today, anyone can streams those personal tokens, also known as social money.
Sums
Private Transactions on Ethereum are Live: Aztec recently launched a privacy network on Ethereum, enabling applications to integrate zkDai, a private version of Dai, which conceals the amount transacted.
Maple Finance Launches Community-Backed Loans: Most DeFi platforms have solved the challenge of issuing loans without trusted third parties with collateral. Maple Finance wants to solve this challenge with community.
Pool Together Raises $1 Million: PoolTogether, the no-loss lottery, has raised $1 million in a funding round led by IDEO CoLab Ventures with participation from ConsenSys Labs and DTC Capital.
Idle Finance Updates Automated Investment Protocol: Idle Finance, which allocates usersā tokens into the highest-yielding platforms, released its v2.
DeFiZap Makes it Easier to Un-Zap: DeFiZap, which lets users implement multi-step decentralized strategies in one click, introduced Zap Out, to make it just as easy to undo those strategies.
Bytes
CFTC chairman reiterates belief that ether futures will be launched: The Block
No-Code Is the Next Big Step for Crypto And Itās Here: Jack Knutson
šCommunity Loveš
Thanking all the amazing Defiers for the support and love this week (and always)!






Camila Russo @CamiRusso
"Ethereum might turn out to be one of the most important general purpose innovations for the financial sector," @davidiach says. He dives into his "liquidity fundraising" model and proposes two new ones, including the "no-loss investment." More herešhttps://t.co/R8QgSwztUY
Camila Russo @CamiRusso
"Ethereum might turn out to be one of the most important general purpose innovations for the financial sector," @davidiach says. He dives into his "liquidity fundraising" model and proposes two new ones, including the "no-loss investment." More herešhttps://t.co/R8QgSwztUY

Ash Egan @AshAEgan
The personal token sandbox is emerging, especially around ISAs, reputation, tokens for time, and tokens for services. Check out: @Bradley_Miles_ @bramanathan @SDinwiddie_25 @jessewldn @CamiRusso @tomhschmidt @defidude @pet3rpan_ @AlexMasmej @2100hq Who else?
Camila Russo @CamiRusso
Today in The Defiant: š@DEXAG_TokenWire launches new interface š¤How to go from USDs to @MakerDAO's 8.75% DSR via @argentHQ šMost DeFi projects have admin keys, @ChrisBlec shows š§āāļø@daveytea creates collateral swap via @AaveAave & @UniswapExchange https://t.co/cxs9jGzxV5
Camila Russo @CamiRusso
š²ICYM this monster issue: Streaming social money w/ @SablierHQ & @tryrollhq Private txs on Eth w/ @aztecprotocol Community-backed loans w/ @maplefinance @idlefinance upgrades to v2 @PoolTogether_ raises $1m @DeFi_Zap unveils Zap Out #monsterdefi https://t.co/q1jO0UxyDE
Camila Russo @CamiRusso
"We eliminated the biggest problem of dexes: low liquidity and a high price slippage." "Soon, nobody will use cexes; they'll have lost trust in them." @1inchExchange cofounder Sergej Kunz says. More, including his 'manic unicorn' philosophy, here šhttps://t.co/zvAkfpnJOL
The Defiant is a daily newsletter focusing on decentralized finance, a new financial system thatās 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 at $10/month or $100/year, while free signups get only part of the content.
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About the author: Iām Camila Russo, a financial journalist writing a book on Ethereum with Harper Collins. (Pre-order The Infinite Machine here). I was previously at Bloomberg News in New York, Madrid and Buenos Aires covering markets. Iāve extensively covered crypto and finance, and now Iām diving into DeFi, the intersection of the two.
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