DeFi Digest: Main Stories This Week
We continue our weekly tradition of publishing main stories in the DeFi market!
This week, the total value locked (TVL) in DeFi dropped below $50B for the first time since late May 2021. At the time of writing, the ecosystem’s TVL was hovering right around the ~$48B mark.
At this point, uncertainty is reigning. Many people still think the rest of 2021 will foster a bullish uptrend for crypto and DeFi, yet the recent market chop has more folks feeling bearish sentiments than we’ve seen for a while. In the meantime, the verdict’s still out, so bulls, bears, and those in between will just have to keep watching closely to see which way the market breaks next.
As for big recent news, the story of the week was easily the launch of the London upgrade on Ethereum’s Ropsten Testnet. London notably contains EIP-1559, which will improve the UX around paying Ethereum gas fees and will burn a small amount of ETH via every Ethereum transaction.
Malt Reimbursement Plan
Malt Finance, whose coins suffered the wrong end of a DeFi bank run earlier this month, outlines a reimbursement plan for users that lost funds in the incident.
Liquidity After Bootstrapping
The Balancer exchange team outlines the optimal way to manage “post-sale liquidity allocation” after using a Balancer Liquidity Bootstrapping Pool (LBP).
Bank of Israel to Use Ethereum for Digital Shekel
The Bank of Israel reveals it’s using Ethereum for trials of a digital shekel central bank digital currency (CBDC) system.
Crypto exchange giant Coinbase releases Solidify, a tool for automatically discerning smart contract security flaws.
Bringing institutional DeFi to the world
Circle, the creators of the USDC stablecoin, release the DeFi API. The service provides large businesses an easy avenue for accessing DeFi services.
RabbitHole raises 3.6M to build the on-chain resume for the future of work
RabbitHole, a platform that rewards users for making on-chain activities, raises $3.6 million in a funding round led by Electric Capital.
The DeFi market continues growing and we will continue watching it for you! AMPLIFY believes in keeping track of the market.and staying up to date with trends.