🔥Markets Roundup: Ethereum Burn Rate Surges as DeFi Tokens Post Mixed Performance

Hello Defiers! Here’s what we are covering today, News Polkadot’s Parachain Auctions Aim to Fulfill Promise of Scalability Markets Roundup: Ethereum Burn Rate Surges as DeFi Tokens Post Mixed Performance Opinion DAOs are Challenging VCs in the Race to...

Hello Defiers! Here’s what we are covering today,




🎙Listen this week’s podcast episode with NFT investor Zeneca here:




Most Read in The Defiant

DeFiCon Shoutout


The next crypto conference lighting up the season is DeFiCon 2021, hosted on December 18-19 in Brooklyn, NYC. As a nonprofit conference, DeFiCon steers away from the typical corporate and for-profit conference model. All of DeFiCon’s net proceeds will be donated to charity. The event is also engages civic leaders and activists. Featured keynote speakers are Stani Kulechov, the Founder and CEO of AAVE, and Jaz Gulati, the co-founder of Ren Labs. As a crypto native event, DeFiCon tickets are NFTs designed by the original artist of the Bored Apes Yacht Club, Seneca.

Mint now for early bird ticket pricing to own the full artwork and join frens in Brooklyn at DeFiCon next month on December 18-19.

To mint General Admission and VIP NFT tickets, visit: www.deficon.nyc - ALL net proceeds from ticket sales will go directly to nonprofit.

View the exclusive NFT slight reveal, released here on the Defiant first!



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🙌 Together with:

  • Balancer, one of the leading DeFi automated market makers (AMM) for multiple tokens. Dive into their pools at this link.
  • 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.
  • Fintech Meetup, join fintech’s largest online meetings event —30,000+ online speed date meetings. Learn More and Get Ticket


🔴 Polkadot’s Parachain Auctions Aim to Fulfill Promise of Scalability

STAKING With much of the Polkadot community locking up DOT amid the ecosystem’s first batch of parachain lease auctions, many participants are looking to contribute via projects offering innovative liquid staking products.

SCALABILITY Ethereum pioneered smart contract functionality with its mainnet launch in 2015, however its developers quickly realized that greater scalability would be needed to meet its objective of becoming the world’s decentralized computer.

SHARDED While Ethereum pledged to soon deliver a second version of the protocol validated by sharded proof-of-stake (PoS) consensus to achieve scalability, the long-awaited “Ethereum 2.0” upgrades have only been partially implemented today. The rollout is expected to finish sometime around the second quarter with the merge of the existing Ethereum chain and its recently launched proof-of-stake beacon chain.


DeFi Markets

🔥 Markets Roundup: Ethereum Burn Rate Surges as DeFi Tokens Post Mixed Performance

A weekly recap of DeFi market action from Sam Haig

DRAWDOWNS DeFi assets saw a mixed performance this week, with roughly half of the sector’s leading protocols suffering drawdowns by both TVL and token. Still, sector-wide TVL and market cap have continued trending into previously uncharted territory.

PREVIOUS HIGH According to CoinGecko, the combined capitalization of DeFi tokens has continued to press into new all-time highs this past week, currently sitting at a record of $173.7B equal to 16% more than the previous high from early May.

RANKINGS Terra (LUNA) remains at the top of the rankings with a nearly $22.9B market cap, followed by Chainlink (LINK) with $15.5B, and Uniswap (UNI) with $12.8B.



👀 How DAOs are Challenging VCs in the Race to Fund Web3 Projects

In this guest column, Lukas Schor writes how DAOs present an unprecedented to challenge to venture capitalists when it comes to backing Web 3 projects.

COMPETITION Investment in crypto and blockchain startups rose significantly in 2021 and changed how venture capital funding is received in Web3 projects. Now with the emergence of Decentralised Autonomous Organisations (DAOs), traditional VCs are facing competition. They have to rethink how they help companies raise money.

PROJECTS Despite a rocky start in 2016, DAOs have adapted and changed. Some early examples include dxDAO, DAOStack’s Genesis DAO, or MolochDAO, which have paved the way for more recent projects. Following on from surging interest in decentralised finance (DeFi) and non-fungible tokens (NFTs), DAOs are one of the most interesting topics in crypto right now.

WEB3 Crypto communities springing up as DAOs are pooling their funds in DAO treasuries and enabling members to vote and decide how the project should be managed. VCs are no longer monopolizing the funding scene, and they’ll have to change how they operate, how they invest in projects, and what value, if any, they bring to the table, particularly as Web3 grows.


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The Tube

📺 The Defiant Guide to Play to Earn - GameFi


🔗 Why Web3?: ConsenSys

This quarter, we are doing things a little differently by covering the major trends in Web3, not just DeFi.

🔗 The Curve Emergency DAO has killed the USDM gauge: Curve

Last night, some unusual price action on CVX was brought to our attention. This came from an address which had just swapped 46M USDM to DAI in a factory pool.

🔗 How Hashflow used Project Galaxy to turbo-charge to $600M of trading volume: Mirror

Growth in Web3 is a challenge; Web3 has no app stores, no targeted Facebook ads, no email marketing, no re-marketing, no affiliate marketing...yeah, you get it.

🔗 Sotheby’s to Allow Live Bidding in Ether for Works by Banksy: CoinDesk

Sotheby’s, the 277-year-old British auction house, will allow live bidding in ether cryptocurrency in an upcoming virtual exhibition on Nov. 18 to be held at its “headquarters” in Decentraland.

🔗 Miami to Give ‘Bitcoin Yield’ From MiamiCoin to Its Citizens: CoinDesk

The City of Miami will soon give out a “bitcoin yield” from the staking of its cryptocurrency to its citizens, Miami Mayor Francis Suarez announced on CoinDesk TV Thursday morning.

🔗 Universal Forms Metaverse Band Based on Bored Ape Yacht Club NFTs: Decrypt

Reimagining the virtual band playbook of Gorillaz with a crypto twist, major music label Universal Music Group announced today that it has formed a “metaverse group” featuring a quartet of characters depicted in the Bored Ape Yacht Club NFT collection.


TRON Foundation @Tronfoundation🚀The average daily transfer volume of #stablecoins on #TRON network reached $11,073,065,553 this week! #TRON ecosystem never stops to amaze!🚀🚀🚀


TRONSCAN @TRONSCAN_ORG🎉The average daily transfer volume of #stablecoins on #TRON network reached $11,073,065,553 this week! 💪Relying on the strong alliance of 4 #TRON -based stablecoins #USDT, #USDJ, #TUSD and #USDC​, the demands and circulation of TRON’s stablecoins are continuously increasing. https://t.co/cnY6u8TuXw9:41 AM ∙ Nov 12, 2021304Likes54Retweets


Solana @solanaThank you, #SolanaBreakpoint! ☀️


Solana Breakpoint 2021 @SolanaConfGoodbye #BreakpointLisbon! Thank you for a great final day (and night). If you missed anything, you can watch all the livestream and highlights here: https://t.co/UmEtuXCffV https://t.co/nS608GeTnl5:22 PM ∙ Nov 11, 2021789Likes105Retweets

Most Read in The Defiant

Ethereum Name Service Jumps to $1B Market Cap After Airdrop of ENS TokenENS, the governance token of Ethereum Name Service, hit a market capitalization of $1.15B in early morning trading EST. That’s equal to about 10% of the value of GoDaddy, the 24-year-old internet domain registrar and web hosting company.

Curve Turns Off Mochi’s Rewards After ‘Amazingly Scammy’ Tactics Trigger OutcryA fresh salvo has been fired in the Curve War and the Establishment isn’t happy.

ConsenSys Founder Joe Lubin Teases MetaMask Token $MASKOne of web3’s most essential tools may be getting a token. Joseph Lubin, founder of Ethereum incubator ConsenSys, set off speculation a token for the non-custodial wallet MetaMask is imminent after tweeting, “Wen $MASK? Stay tuned.”

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🧑‍💻 ✍️ Stories in The Defiant are written by Brady Dale, Owen Fernau, Samuel Haig, DeFiDad and yyctrader, and edited by Edward Robinson, Bailey Reutzel, and Camila Russo. Videos are produced by Robin Schmidt, Alp Gasimov and Daniel Flynn. Podcast is led by Camila, edited by Alp.

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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 above ($15/mo, $150/yr).