Recap: DeFi Week of Sept. 2 🦄

Hello defiers! Hope you’re all having a great weekend, and great to see many of you at ETHBoston :)

Summing up last week in DeFi: Oracle builders were busy with MakerDAO unveiling the version two of its price feed system, while Chainlink created a tool to preserve privacy on smart contracts. Binance created its own Ethereum-based stablecoin, OpenLaw plans to launch the first for-profit DAO since The* DAO, and Pool Together improved its no-loss lottery. The Ethereum Foundation’s sixth round of grants were awarded and I looked into past rounds to analyze where the money is going.

ETH2 Gets Most of EF Funding, Live Chain Misses Out

The Ethereum Foundation’s stated goal is to spend resources on building the Ethereum of tomorrow, supporting the Ethereum of today, and developer growth and awareness. But funding is becoming increasingly concentrated on the Ethereum of tomorrow, or Eth2. (Read more)


This is How MakerDAO is Trying to Crack the Oracle Problem

Mariano Conti, the head of oracles at MakerDAO, chatted with me about the details of the version two of Maker’s oracle system. Oracles, or the systems used by blockchain projects to bridge real-world information with smart contracts, are considered to be the Achilles heal of decentralized finance. Many projects use Maker’s oracles for their own price feeds, so overhaul of how they’re calculating prices affects all of DeFi. (Read more)

Daily News


  • Ethereum Stablecoin Dominance Keeps Strengthening: Another day, another stablecoin launches on Ethereum. This time by the biggest crypto exchange, Binance.

  • An Improved No-Loss Lottery: Pool Together, which created a smart-contracts based lottery where users pool their money together for a chance to win a prize and get their money back if they lose, has released a version two.

  • Ameen Soleimani Digs Into Compound’s Risk: Ameen Soleimani of SpankChain and MolochDAO teamed up with a smart contract security expert to inspect Compound Finance, the second-biggest DeFi lending protocol.

    (Read post)


  • DeFi’s Largest Project is Changing How it Calculates Prices: MakerDAO is upgrading its oracles to have a faster, more decentralized system. Among the changes, the new oracle system will move price calculations off-chain.

  • OpenLaw Plans to Launch a For-Profit DAO: The LAO will be set up as a limited liability, Delaware-based entity, and use smart contracts to handle voting, funding, and allocation of collected funds. 

  • Chainlink Says it Can Make DeFi Private: Chainlink, which provides price feeds for blockchain applications, created a tool to preserve privacy in cryptocurrency transactions.

    (Read post)

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