Crypto.com Weekly DeFi Update (Week 12, 21/03/2022 – 27/03/2022)
Terra’s $UST now exchangeable for $BTC thanks to integration by Thorchain. Cronos Ecosystem Grant Program revealed batch 2 of grantees.
Key Takeaways
Terra (LUNA) stablecoin UST has been integrated by the Thorchain (RUNE) protocol and can now be exchanged for Bitcoin (BTC) natively.
Minswap (MIN), a recently-launched DeFi protocol on Cardano (ADA), has surpassed SundaeSwap (SUNDAE) in terms of TVL, making it the top DeFi protocol on Cardano with a TVL dominance of 65.85% at the time of writing.
Former Polychain Capital partner Tekin Salimi launched a US$125 million crypto fund, dao5, to focus on investing in early-stage protocols and blockchain companies. Dao5 is on track to become a fully founder-owned DAO by 2025.
The Cronos Ecosystem Grant Program, which focuses on supporting early-stage projects on Cronos, announced its second batch of beneficiaries.
This week’s price and volume indices were positive at +11.29% and +20.91%, respectively, while the volatility index was negative at -47.26%.
Highlights
Euler proposes eIP6: Bringing Chainlink (LINK) at the ensure degree
Loopring (LRC) price surges by 50% after GameStop NFT marketplace integration
DeFiance Capital rescues $13.3 million at risk of being stolen
Solana (SOL) stablecoin project Cashio (CASH) plummets to zero after multi-million dollar hack
MakerDAO (MKR) dev insists DeFi protocol should leverage real world assets to scale
SushiSwap (SUSHI) community proposes Swiss legal structure to limit DAO liability
FTMCRAZY: Introducing the new hybrid ROI DApp project in the crypto world
dxFeed implements Airnode API3 to present pricing information for a broad array of Web3 applications
Crypto investor Katie Haun raises $1.5 billion for Web3 venture fund
Check the latest prices on Crypto.com/Price
Top Token Metrics
*Top DeFi tokens based on CoinGecko
Source: CoinGecko
DeFi Index Tokens
*DeFI index tokens: LINK,YFI,AAVE,SNX,UNI,COMP,MKR,UMA,REN,LRC,NXM,BAL,CRV
Notable Events
Loopring (LRC) metrics surged after GameStop’s NFT marketplace integration
DEX Metrics
* % change is based on the difference between two consecutive weekly periods
** Omitted due to incomplete source data
Source: CoinGecko, DeFi Llama, Nomics
Notable Events
Trader Joe (JOE) shows decline in TVL, possibly due to the cooling down of the native token AVAX after Avalanche launch on Anchor Protocol
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