Crypto.com DeFi Research

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Crypto.com Weekly DeFi Update (Week 52, 27/12/2021 - 03/01/2022)
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Crypto.com Weekly DeFi Update (Week 52, 27/12/2021 - 03/01/2022)

Total TVL across for DeFi rose over 1,200% in 2021. OpenDAO’s $SOS token has crashed 64% since Christmas Day.

Crypto.com
Jan 3
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Key Takeaways 

  • The total TVL across all DeFi platforms rose over 1,200% in 2021, with an all-time high of USD 260.12 billion on 1 December, according to DeFi Llama. (ref)

  • OpenDAO’s $SOS token has crashed 64% since Christmas Day. The token was airdropped on Christmas Eve to users who spent money on OpenSea. (ref)

  • Roughly $1.8 million worth of ETH was lost in a fake Metamask token scam in the DEXTools trading app. Around 400 users appear to have been affected. (ref)

  • Tectonic ($TONIC) became the largest lending protocol on Cronos just two weeks after its mainnet launch with a Total Supply of $514 million. (ref)

  • This week’s price and volume indices were positive at +16.60% and +21.76%, respectively, while the volatility index was negative at -13.91%.

Highlights

  • Total value locked in DeFi surges over 1,200% in 2021 to surpass $240 billion

  • $1.8M lost to fake MetaMask token honeypot scam

  • OpenDAO's SOS token crashes 64% since Christmas Day

  • DAO treasuries surged 40X in 2021: DeepDAO

  • DeFi startup Umee raises additional $32 million in CoinList sale

  • Eth2's Rocket Pool reaches $350M TVL and 635 node operators in five weeks

  • DAO aims to raise $5M to resurrect Blockbuster Video

  • Cardano to launch DeFi loan service in Africa next year to foster crypto adoption for over 1.3B people on the continent

  • Uniswap token becomes most traded asset among Ethereum whales

  • DeFi traders push Terra’s UST stablecoin to $10B market cap

Check the latest prices on Crypto.com/Price

*DeFi dominance is defined as the total market capitalisation of DeFi coins as a percentage of that of all currencies (including DeFi coins), based on CoinGecko’s data. See CoinGecko’s definition of dominance for more information.
Source: CoinGecko

Notable Events

  • Uni.Vote was released. This tool allows for gasless voting and delegation for Uniswap ($UNI) community governance. (ref)

  • AAVE announced plans to build a mobile wallet. (ref)

Source: CoinGecko, StakingRewards, DeFi Llama

Notable Events

  • Trader Joe announced the platform’s 2022 Q1 roadmap. (ref)

  • Spookyswap passed Prop-007, which proposed to introduce a MATIC farm and adjust underperforming farms. (ref)

  • Pancakeswap added a WOOP-BNB farm and Syrup Pool. (ref)


Thank you for reading! We hope you find our Weekly DeFi Update enlightening!

Hungry for more? Visit our Research Hub and University to access other insightful crypto research! 

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