Crypto.com Weekly DeFi Update (Week 26, 27/06/2022 – 03/07/2022)

MakerDAO users reject centralisation proposals and consider bond investing. Tether reduces its commercial paper holdings to US$8.4B. Aave launches Aave Arc, a new service approved by 30 institutions.

Key Takeaways 

• MakerDAO (MKR) users rejected multiple proposals to centralise the protocol's structure, while exploring diversification by investing in bonds.

• Tether (USDT) reduced its paper holding to US$8.4 billion following its announcement to remove all commercial paper from its reserves. 

• Aave (AAVE) launched Aave Arc, a new lending and liquidity service approved by 30 financial institutions.

• This week's price, volume, and volatility indices were negative at -14.77%, -25.75%, and  -42.56%, respectively.

Highlights

• Crypto firm Voyager Digital secures a US$500M line of credit from Alameda Ventures to cope with 3AC exposure

• FTX walked away from a deal with Celsius after seeing state of its finances: sources

• FTX seeks to acquire troubled crypto lender BlockFi: sources

• Circle denies comments USDC stablecoin is troubled amid market downturn 

• Azuro raises US$4M for ‘decentralised sportsbook protocol’

• Centrifuge introduces Connectors mechanism to integrate RWAs into DeFi

• Crema Finance shuts liquidity protocol on Solana amid hack investigation

• Napster reinvents itself as a Web3 company — complete with a $NAPSTER token

• Wonderland puts US$25M in new Sifu project

• Gnosis Safe adds support for Integral SIZE to simplify DeFi trading

  

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: AAVE, BAL, CAKE, COMP, CRV, CVX, FXS, JOE, LDO, LINK, MKR, OSMO, REN, SNX, SPELL, SUSHI, UNI, VVS, YFI

DEX Metrics

* % change is based on the difference between two consecutive weekly periods

** Omitted due to incomplete source data

Sources: CoinGecko, DeFi Llama, Nomics

Lending Protocol Metrics

TVL does not include borrowed assets value
* % change is based on the difference between two consecutive weekly periods

** Omitted due to incomplete source data

*** LDR = Total Borrowed / TVL

Sources: CoinGecko, DeFi Llama

---

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! 

Share with a friend if you like our email!