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.

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)

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