Crypto.com Weekly DeFi Update (Week 11, 14/03/2022 – 20/03/2022)
MetaMask offers its own token, plans to create a DAO. Aave v3 launches on multiple blockchains.
Key Takeaways
Aave (AAVE), one of the largest lending DeFi protocols by TVL, has launched Aave v3 across multiple blockchain networks, including Arbitrum, Avalanche (AVAX), Fantom (FTM), Harmony (ONE), Optimism, and Polygon (MATIC).
Synthetix (SNX), a protocol that enables the creation of synthetic assets, has announced the launch of its perpetual futures product on Ethereum layer 2 scaling solution Optimism, with Kwenta becoming the first partner to integrate this product.
Metamask, the popular Ethereum web 3.0 wallet, is officially launching its own token, with a DAO also planned in the future.
This week’s price and volume indices were positive at +13.03% and +12.33%, respectively, while the volatility index was negative at -28.62%.
Highlights
SushiSwap (SUSHI) is launching new Automated-Market-Maker (AMM) framework - Trident phase 1
Polkadot (DOT) lost nearly 78% of its DeFi TVL in a month, Moonbeam slides backward too
Cardano-based DeFi project BashoSwap (BASH) is developing a launchpad and DEX
DeFi protocols Agave (AGVE) and Hundred Finance (HND) exploited on Gnosis Chain for $11 million
Deus Finance (DEUS) exploit: Hackers get away with $3 million worth of DAI and Ether
MakerDAO (MKR) community proposal to replace its governance token
DeFi analytics firm Treehouse raises $18 million seed funding
Solana (SOL) payroll protocol Zebec (ZBC) raises $28 million in token sales
Universe Finance brings Uniswap V3 leveraged yield farming to Polygon
Aussie fintech to offer mainstream direct access to DeFi with a fixed rate
Parallel Finance launches DeFi ‘Super App’ for Polkadot crypto ecosystem
Check the latest prices on Crypto.com/Price
Notable Events
AAVE saw increases in all metrics due to the launch of Aave v3 on multiple blockchain networks.
Notable Events
The DeFi sector was the best performer this week when compared with other sectors, with the 7-day cumulative return at +8.58% as shown in Messari’s Weekly Recap newsletter.
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