Crypto.com Weekly DeFi Update (Week 1, 03/01/2022 - 10/01/2022)

Terra is investing $139M to enhance use cases for TerraUSD. Aave launches institutional product Aave Arc.

Key Takeaways 

• Terra ($LUNA) announced that it would invest USD 139M in projects across different blockchains to enhance use cases for its weekly-defi-update-2021-week52stablecoin. (ref)

• Aave ($AAVE) launched its institutional product Aave Arc, a permissioned and regulated DeFi product aimed at institutions. (ref)

• Ethereum-based prediction markets platform Polymarket has been fined $1.4M and ordered to shut unlicensed markets by the CFTC. (ref)

• Tectonic ($TONIC) has been listed on Crypto.com Exchange. (ref)

• This week’s volume and volatility indices were positive at +64.63% and +7.83%, respectively, while the price index was negative at -3.62%.

Highlights

• Terra to deploy $139 million in DeFi projects to enhance UST use cases

• Aave has launched permissioned DeFi pools for institutions

• Solana DeFi major Serum’s ‘Incentive Ecosystem Foundation’ is raising $100M

• Study: Number of monthly active Web3 developers hit an all-time high in 2021

• Cosmos-based DEX Osmosis breaks above $1 billion in locked value

• DeFi Protocol Convex Finance crosses $20B in locked value

• Rug-Pullers and Black-Hats ran wild in 2021 with $2.2B lost to theft: report

• ERC-4626 proposes to make yield-bearing tokens their own DeFi lego

• Yearn passes new tokenomics, rewarding YFI stakers with up to $35M per year

• U.S. orders DeFi platform Polymarket to pay $1.4M and shut unlicensed markets

• Aave unveils mobile wallet and eyes V3 deployment on StarkNet

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

* % change is based on the difference between two subsequent bi-weekly periods

Source: CoinGecko, StakingRewards, DeFi Llama

Notable Events

• Trader Joe’s Bulletin Board #9 was released. (ref)

• Pancakeswap Community Roundup #2 was released. (ref)

• Raydium announced that P2E metaverse game SpaceFalconIO will launch on AcceleRaytor. (ref)

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