Wall Street’s ETH Gateway is Surging
Hello Defiers! Here’s what’s going on in DeFi,
- Grayscale investment trust shows Wall Street is buying up ETH
- Aave launches a flash-loan powered V2 to make DeFi more seamless
- Nexus Mutual now provides cover for centralized exchanges
- A deeper dive into Yearn’s merger spree
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Wall Street’s ETH Gateway is Getting Ahead of Itself Again
Grayscale’s ether-based investment vehicle ETHE is surging above ETH itself as institutional appetite for crypto increases.
Aave Aims for a Seamless DeFi With Flash Loan-Driven V2
Aave, the third-largest DeFi lending protocol by assets, today unveiled its V2 revamp, where it leverages flash loans to make DeFi more seamless and composable.
Aave’s V2 includes several enhancements of its lending products, many of which are powered by flash loans. Flash loans don’t require any initial capital as long as the they’re paid back within the same blockchain block. Flash loans on Aave, which this month crossed the $1B mark, have been often behind financial exploits to DeFi protocols. Aave’s upgrade shows other ways flash loans can be used by investors.
👉 Read the story on thedefiant.io
Nexus Mutual Offers Cover on Centralized Exchanges
Cryptocurrency investors are now able to buy insurance on centralized exchange deposits via Nexus Mutual.
Mutual members who have verified their identity with Nexus can purchase insurance claims on select centralized custodians including Celsius, BlockFi, Nexo, inLock, Ledn and Hodlnaut.
👉 Read the story on thedefiant.io
Here’s a Breakdown of Yearn Finance’s Latest Mergers
Yearn Finance has partnered up with at least six different DeFi platforms in the past couple of weeks. Rather than combining into one giant DeFi conglomerate, at least initially, they will be leveraging each other’s products in a symbiotic type of relationship. Here are the stories you need to get caught up on the three latest mergers, by Sydney Lai.
👉 Read the stories in thedefiant.io:
- SushiSwap is Largest Target in Yearn Merger Wave
- Yearn Partners with Akropolis in Move for Institutional DeFi
- Yearn Merges With Cover to Make DeFi Safer
Visa Partners With Ethereum Digital-Dollar Startup That Raised $271 Million: Forbes
Visa said it is connecting its global payments network of 60 million merchants to the USDC, developed by Circle Internet Financial on the Ethereum blockchain, Forbes reported. Circle and Visa will work to help select Visa credit card issuers start integrating the USDC software into their platforms and send and receive USDC payments. Visa itself won’t custody the digital currency.
S&P Dow Jones Indices to Launch Cryptocurrency Indexes in 2021: Reuters
S&P Dow Jones Indices, a division of financial data provider S&P Global Inc, said on Thursday that it will launch cryptocurrency indices in 2021, making it the latest major finance company to enter the nascent asset class, Reuters reported.
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.
About the founder and editor: 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.
