🦄 Recap: DeFi Week of May 10

Hello Defiers! Hope you’re having a great weekend. Summing up the past week: What a rollercoaster! The crypto market started the week on fire, especially ETH climbing to a new high of $4,350 and dog-themed meme coins like DOGE and SHIB ripping higher. BTC...

Hello Defiers! Hope you’re having a great weekend.

Summing up the past week: What a rollercoaster! The crypto market started the week on fire, especially ETH climbing to a new high of $4,350 and dog-themed meme coins like DOGE and SHIB ripping higher. BTC was also trading above $55k. We covered the hype in the market at the start of the week by analyzing how many of the top 10 gainers had any real use — it turned out not many did. We also reported that traders were positioning for a pull-back.

And then the first blow to the meme-coin market was delt by Ethereum creator Vitalik Buterin, who sold part of his SHIB stash and donated the proceeds to charity. Next came “Technoking” Elon Musk, who said Tesla was not taking payments in BTC any longer out of concern for the environment. We reported the market stabilized the next day, led by proof-stake chains, which don’t require burning the equivalent amount of energy as entire countries, like BTC does. But crypto has kept slumping.

We also published a three-part series called Red Flag Alert, to provide a framework to evaluate crypto projects, and a report on what drives global women in crypto. We took a first look at Uniswap V3 in our “unboxing” style video series, and looked at yield farming Ethereum push notifications EPNS and how to provide liquidity on Raydium in our tutorials. We dove into the most recent hacks, Rari Capital and xToken, and did a rundown of the past weekend’s exploits. Our podcast this week was with Prysmatic Labs and Cryptex co-founder Preston Van Loon, who said Ethereum proof-of-stake is only six months away.

And there was more! There’s a lot going on, but we’ve got you covered :)

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🙌 Together with:

  • Balancer, one of the leading DeFi automated market makers (AMM) for multiple tokens. Dive into their pools at https://balancer.finance/!
  • Kraken, consistently rated the best and most secure cryptocurrency exchange, which can get you from fiat to DeFi
  • Aave, an open-source and non-custodial liquidity protocol where users can earn interest on deposits and borrow assets.
  • The DeFi Pulse Index, a capitalization-weighted index that tracks the performance of selected DeFi assets across the market.
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Video

📺 Defiant Weekly: The Best of the Defiant Weekly

📺 Quick Take: The Rari Capital Exploit

📺 Tuesday Tutorials: How to swap and provide liquidity on Raydium

📺 First Look: Uniswap V3

Interview

"Ethereum is About Six Months Away from Proof-of-Stake:" Preston Van Loon

In today’s episode, we interview Preston Van Loon. Preston co-founded Prysmatic Labs, one of the main teams building Ethereum 2.0, and has been leading that team for the past three years. On top of that, he recently founded a DeFi project which bundles the entire crypto market cap in one token to allow anyone to easily buy something like a crypto index. Preston talks about the latest in ETH2 —he says Etheruem’s big migration into its proof-of-stake chain is about six months away, give or take two months. He says Ethereum may be at a disadvantage relative to other Layer 1s, which are launching with more scalable technologies. But he also believes it will be hard for other chains to build the community Ethereum has, faster than Ethereum will upgrade.

🎙Listen to the interview in this week’s podcast episode here:

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📺Watch the Interview Here:

Op-ed

With hacks and exploits breaking every week in DeFi, participants are undoubtedly asking where to look for red flags, how to protect their investments and how to vet projects. This week, we present Red Flag Alert, a three-part series by researcher Eugenio Croitoru @CryptoCoping.

Red Flag Alert Part I: Tokenomics

Red Flag Alert Part II: Team and Backers

Red Flag Alert Part II: Mental Models

📬 Inbox Dump #8

Only for paid subscribers: The Inbox Dump is where we include the updates and announcements that flood our DMs each week and didn’t make it to our content platforms. At The Defiant we cover the most important DeFi-related news and developments but I know many of you are hunting for projects before they are fully developed and before they are newsworthy. The goal with this installment of the newsletter is to help you find them. Look at this as the starting point to DYOR. We also include a compilation of DeFi and crypto funding rounds in the past week so you have these in one handy place.

Tuesday

Tutorials

Markets

Dives

Wednesday

Dives

Markets

Thursday

Dives

Bytes

Links

💜Community Love💜

Thanking all the amazing Defiers for the support and love this week (and always)!

DeFi Resources 👨🏼‍🌾 apyvision.crypto 🚀 @DeFiResourcesWorth the watch, all my fav clips included 🤣 love it. @DirSchmidt @alpgasimov provide the best DeFi content in a most creative and educational fashion. You set the bar high for others to beat. @DefiantNews

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The Defiant @DefiantNews📽️It's time for a trip down #DeFi memory lane with @DirSchmidt and @alpgasimov 🔥 Every awesome skit, gag, joke and more⚡️ Presenting the @DefiantNews Weekly Mixtape Vol. 1 👇 https://t.co/uslTuGHbJ812:10 AM ∙ May 15, 20216Likes1Retweet

BIGGIEDIP 📈 @favourfrizzyHey guys 😊 Don't you just LOVE $PUSH notifications? Lets learn how to farm #DeFi's 1st Protocol for Push Notifications with this all-in-one @DefiantNews article/tutorial blend by @DeFi_Dad! @epnsproject #DeFi #BSC #blockchain thedefiant.io/defiant-degens…

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thedefiant.ioDefiant Degens: How to Farm in DeFi’s First Protocol for Push Notifications - The Defiant - DeFi NewsTo distribute the governance token PUSH, EPNS offers liquidity mining rewards currently at a rate of 131% APR for staking PUSH or 221% APR for providing liquidity to the PUSH / ETH LP in Uniswap v2.9:28 PM ∙ May 14, 202114Likes4Retweets

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Jake Liebert | jlieb.eth @jake_eth@DefiantNews @preston_vanloon @prylabs @CamiRusso @CryptexFinance One of my favorite interviews yet, thanks for sharing. Great mix of technical vs. non-technical content, and I loved the discussion on jumping from software dev to crypto8:25 PM ∙ May 14, 2021

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ROBNΞSS \/IRTUAL🇺🇸 @robnessofficialA DAMN TRAGEDY THIS FILM ISN'T OVER A 100K YET. FIX THAT PROBLEM. youtube.com/watch?v=cY9lM7… @DefiantNews #artshare #Blockchain #blockchaintechnology #Crypto

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youtube.comThe Greatest NFT Film Ever MadeIt’s official. NFTs have exploded. Prompting a wild free for all on one side with numbers you can scarcely believe and deep and justified skepticism on the o...4:01 PM ∙ May 14, 202114Likes3Retweets

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Sameer Govani @Sammodon@DefiantNews @VitalikButerin @Uniswap @neilsingh7 Great article @neilsingh7 very well written.2:01 AM ∙ May 14, 2021

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erixink @erixinkThis 3-part ‘Red Flag’ Series from @CryptoCoping & @DefiantNews is a MUST READ for anyone new to the #DeFi space. Part I.

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thedefiant.ioRed Flag Alert: A Framework for Vetting Crypto Projects - The Defiant - DeFi NewsBuckle up, cause we’re going to learn a framework to analyse crypto projects which will at least help you avoid scam tokens, if not help find gems.1:55 AM ∙ May 14, 202115Likes5Retweets

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BUIDLer @NonseOdion@florinpop1705 You should always do a thorough research before investing in any cryptocurrency. This 3-part series by @DefiantNews will help .

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thedefiant.ioRed Flag Alert: A Framework for Vetting Crypto Projects - The Defiant - DeFi NewsBuckle up, cause we’re going to learn a framework to analyse crypto projects which will at least help you avoid scam tokens, if not help find gems.5:46 AM ∙ May 13, 2021

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GoodGhosting @goodghostingValuable insights in to how women view crypto... - Want to save and invest rather than trade - Like to get paid in crypto - Are fascinated by the tech Great work from @DefiantNews 🙏 thedefiant.io/global-report-…

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thedefiant.ioGlobal Report on Women, Cryptocurrency and Financial Independence - The Defiant - DeFi NewsAccording to a recent study, the total number of global cryptocurrency users has surpassed 100 million for the first time. The highly specialized crypto landscape is increasingly diverse. Exchange platform surveys indicate women make up 15-55% of crypto users, depending on the region.7:22 AM ∙ May 13, 202123Likes5Retweets

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Paul Murphy @prmurphyNice work @DefiantNews.

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thedefiant.ioRed Flag Alert: A Framework for Vetting Crypto Projects - The Defiant - DeFi NewsBuckle up, cause we’re going to learn a framework to analyse crypto projects which will at least help you avoid scam tokens, if not help find gems.11:58 AM ∙ May 13, 2021

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Alfredo B Roisenzvit @aroisenzvitMuy buena explicación de @DefiantNews sobre el fenómeno $SHIB, que multiplicó los fees the ETH hasta x10 en los últimos 3 días. Un breve hilo sobre algunas aristas curiosas de este experimento. Y un par de reflexiones sobre la reacción de Vitalik

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The Defiant @DefiantNews🐶Meet Shiba Inu, the self-proclaimed new $DOGE Killer on #Ethereum that's been having an incredible run... That is, until @VitalikButerin decided to sell half the supply today📉 Read more👇 https://t.co/A4V28w5wkU https://t.co/tsMuMAEXIi11:11 PM ∙ May 12, 202111Likes4Retweets

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Manasi | Hiring for Skynet Labs @manasilvoraProud to have worked with you @MarinaSpindler. Thanks for your vision and lead on this research! Read our ‘Global Report on Women, Crypto and Financial Independence’ published by @DefiantNews cc @BlockchainGirls @susewang thedefiant.io/global-report-…

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Marina Spindler @MarinaSpindlerWe would like to recognize our talented editor @La__Cuen for bringing attention to our research in her article "The 4 key was some use cryptocurrency." We are also grateful to @susewang and @manasilvora @elenita_tweets and @yosoymelvera for elevating the quality of our content.6:44 PM ∙ May 12, 202113Likes4Retweets

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Fulvia 🍵 @fulviamoralesThankfully, for every uninformed piece of advice for women about crypto, there’s thousands of women out there doing their own research and taking control of their financial independence.

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The Defiant @DefiantNews🌐Global Report on Women, Cryptocurrency & Financial Independence by @MarinaSpindler and @paordgz7🔥 Women worldwide are embracing crypto and the report shows that they: ⚡️Are in it for the tech ⚡️Want to be paid in crypto ⚡️Hold digital assets 👇 https://t.co/bc3ibmz4iN https://t.co/dpIJN1sbJo3:53 AM ∙ May 12, 2021

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Edu Fernández @eduardoInteresantísimo todo lo que cuenta @santisiri en el podcast de @DefiantNews sobre identidad digital y @proofofhumanity

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anchor.fm“Identity is The One Vulnerability Being Exploited Across All Systems. It’s the Mother of All Battles:” Santiago Siri by The Defiant • A po…In this week’s podcast we interview Santiago Siri, who has been working on improving the way democracy works for over a decade. He started from the inside, co-founding a political party in Argentina, his home country, but realized traditional politics would change him before he could change politics…10:42 PM ∙ May 11, 20214Likes2Retweets

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Internationalist Capitalist ™ @IntlCapitalist700 people in Washington representing 300M people in USA doesn’t make sense. -⁦@santisiri⁩ Great podcast about #privacy and #cryptocurrency from ⁦@CamiRusso⁩ and ⁦@DefiantNews⁩

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podcasts.apple.com‎The Defiant: “Identity is The One Vulnerability Being Exploited Across All Systems. It’s the Mother of All Battles:” Santiago Siri on Appl…In this week’s podcast we interview Santiago Siri, who has been working on improving the way democracy works for over a decade. He started from the inside, co-founding a political party in Argentina, his home country, but realized traditional politics would change him before he could change politics…9:15 PM ∙ May 11, 202111Likes3Retweets

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Marina Spindler @MarinaSpindlerWe are honored to be featured in @DefiantNews and to bear witness to the extraordinary conviction of women from 31 countries who are using cryptocurrency to navigate uncertainty and support themselves.

the-defiant

The Defiant @DefiantNews🌐Global Report on Women, Cryptocurrency & Financial Independence by @MarinaSpindler and @paordgz7🔥 Women worldwide are embracing crypto and the report shows that they: ⚡️Are in it for the tech ⚡️Want to be paid in crypto ⚡️Hold digital assets 👇 https://t.co/bc3ibmz4iN https://t.co/dpIJN1sbJo6:02 PM ∙ May 11, 202144Likes13Retweets

the-defiant

Freya Jane 🌖👩🏻‍💼 @FreyaJane89Super important article courtesy of @DefiantNews (thx @CamiRusso ) With so much market mania its worth remembering there are a LOT of scam artists and VERY dubious tokens out there (?SafeMoon and half BSC launch projects it seems?!?) DYOR always!

the-defiant

thedefiant.ioRed Flag Alert: A Framework for Vetting Crypto Projects - The Defiant - DeFi NewsBuckle up, cause we’re going to learn a framework to analyse crypto projects which will at least help you avoid scam tokens, if not help find gems.11:20 PM ∙ May 10, 202120Likes6Retweets

the-defiant

Akshay BD @akshaybdHow to invest in DeFi by @DefiantNews Part 1 - Tokenomics. 1. Market cap. lower the market cap, higher the risk/reward 2. Current & future supply. More future supply = selling pressure. 3. Allocation. Concentrated holding = risk. 4. Quality use case.

the-defiant

newsletter.thedefiant.io🚩 Red Flag Alert: A Framework for Vetting Crypto ProjectsHello Defiers! Decentralized finance is a new industry full of opportunity, innovation, and also, full of risk. This weekend was, unfortunately, a great example of the latter as Rari Capital and Value DeFi both got exploited. We have an article detailing those risks in our DeFi 101 series12:26 AM ∙ May 11, 202150Likes11Retweets

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The Defiant is a daily newsletter focusing on decentralized finance, a new financial system that’s being built on top of open blockchains. The space is evolving at breakneck speed and revolutionizing tech and money. Sign up to learn more and keep up on the latest, most interesting developments. Subscribers get full access, while free signups get only part of the content. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button below ($15/mo, $150/yr).

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