Crypto.com Weekly DeFi Update (Week 36, 06/09/2021 - 12/09/2021)
dYdX Opened Access to Governance Token
According to DeFi Pulse, TVL (total value locked) in DeFi protocols now stands at $85B, down from nearly $100B last week. TVL dropped dramatically on the 8th of September to $76B before recovering to $85B. According to CoinGecko, market capitalisation of the top 100 DeFi tokens now stands at $124B, down from $140B last week. Their dominance in the crypto space stands at 5.8%.
Overall, both the volatility and volume indices increased by 214.44% and 19.82% respectively, while the price index decreased by 15.11%.
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Spotlight of the Week
dydX Opened Access to its Governance Token (08/09/2021)
dYdx, a decentralised derivatives exchange, released its governance token (DYDX) to its users. The number of tokens airdropped to each user was determined by their trading activity on the platform. According to CoinGecko, the market cap of DYDX is now $592M.
All tokens’ price decreased.
Top 3 decreases: YFI (-21.53%), UMA (-21.14%), MKR (-19.57%)
Top 3 increases: NXM (+790.53%), LINK (+60.66%), CRV (+19.11%)
Top 3 decreases: REN (-47.68%), LRC (-38.33%), BAL (-22.74%)
All tokens’ volatility index increased.
Top 3 increases: LRC (+427.17%), UMA (+400.89%), MKR (+295.31%)
Notable Events in DeFi
Cream Finance Hacker Returns $17.6M of Stolen Funds (08/09/2021)
Multisignature wallets belonging to Cream Finance received 5,152.6 ETH from the hacker’s address. It is unclear why the funds were returned. However, the hacker has kept a portion of the funds, around 606 ETH, which is worth about $2M.
Polkadot’s Decentralised Identity Project KLT Wins Kusama Parachain (09/0/2021)
KLT Protocol, an open-source blockchain protocol for self-sovereign, anonymous and verifiable credentials has won the sixth Kusama parachain auction. This auction is the first of the second of five parachain slots on Kusama, which is Polkadot’s test network.
Top DeFi News
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