Recap: DeFi Week of Oct. 5 🦄

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

Summing up the past week: After a big sell-off in crypto in the previous couple of weeks, it’s time to look back and reflect on the booming DeFi summer and its subsequent pullback. So, is DeFi dead? Of course not. Even amid the less ebullient environment, there were plenty of new DeFi protocols and upgrades coming up; the biggest one was probably MetaMask adding native token swaps. Also in the token swap space, Shell Protocol is the latest AMM to launch and Dharma introduced limit orders. Set Protocol released the Index Coop while PieDAO launched a new DeFi index. DeFi dollar released a new governance token with DFD, as did MetaFactory with ROBOT. The NFT space isn’t cooling off anytime soon, with Christie’s auctioning off its first non-fungible token ever.

Also, The Defiant’s own website launched this week! You’ll be able to find all The Defiant’s content more easily there, as well as a new DeFi 101 section with decentralized finance basics. Check it out.

That was just one week. Subscribe to get the latest DeFi news and analysis straight to your inbox and you don’t miss a thing. Free-signups get partial content, paid subscribers (only $10/month, $100/year) get everything. Click here to pay with DAI.

🙌 Together with Zerion, a simple interface to access and use decentralized finance, Perpetual Protocol, which provides decentralized perpetual contracts for any asset, and HackAtom V, a two-week virtual hackathon organized by Cosmos.

Friday

Dive

• DeFi Token Crash Doesn’t Show the Full Picture: The DeFi bubble might have popped but DeFi itself is stronger than ever.
• DeFi 2020 Recap Video: As builders and investors pick up the pieces, it’s a good time to reflect on the major developments so far this year, and on the lessons we can learn from them.

Thursday

Markets

• Traders Are Eager to Make the LEND to AAVE Switch: The anticipated protocol upgrade already had a strong impact on key metrics. Leveraging IntoTheBlock’s on-chain indicators we can observe that Aave supporters were eager to migrate their tokens and start staking.

Bytes

• Shell Protocol Draws $14M Three Days After Launch: Shell Protocol, a new automated market maker, is now holding almost $14M in its stablecoin liquidity pool three days after launch.
• DeFiDollar Introduces DFD Governance Token: DeFiDollar, which issues the DUSD stablecoin, is introducing a second platform token called DFD.

Links

• Solana Unveils Wormhole Cross-Chain Bridge to Ethereum: The Block
• Square Invests $50 Million in Bitcoin

Wednesday

Dives

• Maker Snaps Back With Stability Fees: MakerDAO has casually reintroduced stability fees for the ~$900M worth of DAI now in circulation.

Bytes

• DeFi’s Favorite Governance Tool Gets a Boost: Off-chain voting solution Snapshot got a stimulus boost thanks to $200k in funding from Aragon and Balancer yesterday afternoon.
• DeFi is About to Get More Tokenized Indexes: Set Protocol is doubling down on the success of the DeFi Pulse index by launching a new project - the Index Coop - focused on creating accessible crypto indexes.

Links

• The Graph Announces Foundation
• Dharma Adds Limit Orders
• Covalent Secures $3.1M in Funding Round

Tuesday

Dives

• MetaMask’s Native Token Swaps is Just the Beginning: MetaMask, the most popular Ethereum wallet, is often used as a gateway to DeFi but today it becomes part of the growing financial ecosystem itself as it introduces the ability to swap tokens directly on the app.

Bytes

• First NFT Ever to Be Sold at Christie’s Auction Tomorrow: A non-fungible token is set to be sold at one of the world’s most prestigious auction houses tomorrow, in a world’s first.
• MetaFactory Distributes Ownership Via ROBOT Token: What happens when you create a fair launch governance token for a community-owned digi-physical brand apparel platform? You get $ROBOT.

💜Community Love💜

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

Will | 🥧 PieDAO @williambrealey1Perfect start to a Sunday with @CamiRusso's 'The Infinite Machine'. Essential reading for anyone interested in Ethereum's origin story. DeFi fans who aren't subscribed to her newsletter thedefiant.substack.com what are you doing with your lives?

9:27 AM ∙ Oct 11, 202035Likes9Retweets

babylon.eth @babylon_eth@williambrealey1 @CamiRusso A true quality magazine! Way to go!! And a should read. @DefiantNews7:49 PM ∙ Oct 11, 2020

jonathanjoseph.eth @jonathanjosephwell put, @CamiRusso.

thedefiant.ioNo, DeFi is Not Dead - The DefiantDeFi Token Price Doesn’t Show the Full Picture The DeFi bubble might have popped but DeFi itself is stronger than ever. After an absolute DeFi explosion this (northern hemisphere) summer, with food-themed coins popping up everywhere, hundreds of millions in digital assets flowing into untested and u…10:16 PM ∙ Oct 9, 202061Likes12Retweets

Glib Glob the Crypto God @0xGlibGlob@RafaellaBaraldo @QwQiao @DefiantNews great YouTube content10:08 PM ∙ Oct 9, 2020

defi_n00b @defin00b@RafaellaBaraldo @QwQiao Noob recommends @DefiantNews @finematics @DeFi_Dad1:01 AM ∙ Oct 10, 2020

capitaliste 2.0 @leocrypt0« Best tech doesn’t always win, the best story does. And the most successful brands in blockchain will be the ones that understand how to weave viral story telling in that product blockchain offering and seduce users. Because they tell a fucking great story. » @DefiantNews 💥12:55 PM ∙ Oct 10, 20207Likes3Retweets

⟠ DeFi Dad ⟠ defidad.eth 👁⚡️👁 @DeFi_DadI just spit out my coffee laughing out loud this morning--watch this clip of @AndreCronjeTech Perfume because as @DirSchmidt said "if you could bottle Andre, people would buy it." The #DeFi year in review on @DefiantNews Youtube: youtu.be/zSVle3NTks4?t=…

12:28 PM ∙ Oct 10, 202056Likes18Retweets

Cripto Spanglish 🚀 @CriptoSpanglish2020 #DeFi Recap (so far) youtu.be/zSVle3NTks4 gotta love @DefiantNews #hilarious

youtu.be2020 DeFi Recap (so far)This is The Defiant x Harmony, a weekly series brought to you by Harmony Protocol’s Creative Director, Robin Schmidt, and Camila Russo, the founder of The De...12:14 PM ∙ Oct 10, 20201Like1Retweet

Anthony Sassano | sassal.eth ⛽ 🏴 @sassal0x4/ ~DeFi~ - Bankless by @BanklessHQ: bankless.substack.com - The Defiant by @DefiantNews: thedefiant.substack.com - This Week in DeFi by @DeFiRate: defirate.com/newsletter/ - DeFi Pulse Farmer by @defipulse:

yieldfarmer.substack.comDeFi Pulse FarmerYour go-to newsletter for all things yield farming. Made with honest work by DeFi Pulse.12:47 PM ∙ Oct 10, 202032Likes5Retweets

Ian Lee 💭 @ianjohnlee@AudiusProject intros $AUDIO @Collab_Land_ 40K users @graphprotocol 7.6B queries @defidollar launches LM program @Delphi_Digital $ANJ report @CalBlockchain #1 @hiFramework incubates @endaomentdotorg @variantfund hiring analyst @DefiantNews website @DystopiaLabs summit Links 👇4:06 PM ∙ Oct 9, 2020

Rubic @CryptoRubic[•••] DeFi itself is stronger than ever. Loved the article.

The Defiant @DefiantNewsNo, DeFi is not dead. In past 30 days: TVL +15% to 10.5B Loans outstanding +40% to $2.3B New daily addresses spike past 6k Tokens crashed, which means hype is cooling. That may be a good thing. Take a look at the year so far: https://t.co/Mir8UDptpy7:11 PM ∙ Oct 9, 20208Likes1Retweet

reneil.eth 🏴 @reneil1337Wow this is one of the coolest video I've seen for a long time. @DefiantNews is killing it with this @aavegotchi explainer. #DeFi x #NFTs ftw 🔥 youtube.com/watch?v=M_zreD… @coderdannn @gldnXross @Cooopahtroopa @CamiRusso

youtube.comThe Quest for Rarity: DeFi Meets NFTs With AavegotchiThis is The Defiant x Harmony, a weekly series brought to you by Harmony Protocol’s Creative Director, Robin Schmidt, and Camila Russo, the founder of The De...8:35 AM ∙ Oct 9, 202028Likes8Retweets

Elsa Schneider @ES_CrescofinCheck out the cool new home for The Defiant by @CamiRusso ! #DeFi #Crypto @DefiantNews here: thedefiant.io

10:29 AM ∙ Oct 7, 202018Likes10Retweets

PAYMYNT @PaymyntGroupCrypto fans - Did you know? #Stablecoins currently account for over $18B in total market cap across different #blockchains. Check out @DefiantNews for a breakdown on the important role stablecoins play in #DeFi

thedefiant.substack.comThe State of Stablecoins in DeFi: A Deep Dive by DappRadarDappRadar’s exclusive report on the growth and use of stable assets in decentralized finance.4:17 PM ∙ Oct 6, 2020

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 at $10/month or $100/year, while free signups get only part of the content.

About the founder: Camila Russo is the author of The Infinite Machine, the first book on the history of Ethereum, and was previously a Bloomberg News markets reporter based in New York, Madrid and Buenos Aires. She has extensively covered crypto and finance, and now is diving into DeFi, the intersection of the two.