Week in DeFi: Total Value Locked Surges Higher
Crypto News

Week in DeFi: Total Value Locked Surges Higher

5 хв
4 months ago

Total value locked gains 29% over the past week as the DeFi space heats up — find out more in our weekly DeFi roundup.

Week in DeFi: Total Value Locked Surges Higher

Зміст

Kyber Network has been exploited in a carefully orchestrated strategy, resulting in $47 million lost across five chains, Dopex launches the Arbitrum Frontier quest campaign and PancakeSwap announces plans for a revamp of their token, CAKE.
Big week in the world of DeFi! Let’s dive deeper into what went down in DeFi this past week.

Overview

Total value locked (TVL) across all chains surged higher this week alongside the market as the ETF decision draws closer. Notable outperformers include zero-knowledge rollup (zk-rollup), ZkSync, which saw a jump of 40%, while smaller outperformer include fellow zk-rollup, StarkNet, and alt L1, Sui, which both saw increases of around 12%.

Source: https://coinmarketcap.com/chain-ranking/

Welcome to Alpha Central

0xKun discusses the difficulty in applying traditional investing frameworks in crypto investing and how investors can adapt and play the markets accordingly.

TL;DR:

  • Traditional value investing is tough as crypto is still in early adoption and future use cases tend to take precedence
  • Growth investing mindsets don’t quite work as well since it is hard to project historical growth into the future with such early projects
  • Key abilities for successful crypto investing include dealing with volatility well, managing risk to reward and playing off the fear and greed of market participants.
View post on Twitter

Ethereum: Kyber Network Exploited

Multi-chain DEX aggregator, Kyber Network has been exploited for $47 million across Ethereum, Arbitrum, Optimism, Polygon and Base, via its concentrated liquidity solution, Kyber Elastic.
View post on Twitter
Universal yield marketplace, Superform, introduces itself: a protocol enabling a user to deploy into any number of vaults on any of the eight supported chains, using any token. The platform is built on LayerZero, Hyperlane and Wormhole, with two bridge aggregators, Socket and LiFi, under the hood.
View post on Twitter

Other Product Launches and Updates

L2s: The Arbitrum Frontier

Options protocol, Dopex, partners with Arbitrum, Galxe and OKX to release the Arbitrum Frontier, a DeFi powered quest campaign through protocols such as Camelot, Radiant, JonesDAO and more. Participants will be eligible for rewards such as a share of the 100K ARB reward pool and a soulbound NFT.
View post on Twitter
LSDFi protocol, UnshETH, releases blETH, a liquid wrapper representing ETH deposits in Blast, the latest L2 on the market, which have been locked up for the upcoming three months. Upon Blast’s withdrawals, blETH holders will be able to withdraw their ETH along with the expected airdrop which will also be converted to ETH.
View post on Twitter

Other Product Launches and Updates

Solana: More Bridging Options Unlocked

Multi-chain bridging protocol, Synapse, now supports the Solana ecosystem, enabling seamless transfers of SOL, ETH and USDC between Ethereum mainnet and Solana.
View post on Twitter
Solana wallet, Phantom, releases cross-chain swaps within their wallet, powered by bridges, LiFi and Allbridge. A portion of the bridged token can also be swapped for SOL to provide for gas tokens on Solana.
View post on Twitter

BNB Smart Chain: CAKE Tokenomics Revamp

Binance Smart Chain top decentralized exchange (DEX), PancakeSwap announces plans for the revamped tokenomics for the CAKE token, with plans to introduce vote-escrow mechanisms with veCAKE and gauge voting.
View post on Twitter

Another Week, Another Airdrop

Cosmos liquid staking protocol, Stride Zone, announces plans for a 250,000 STRD token airdrop to stakers of the DYDX token in the first two months following the upcoming launch of the stDYDX liquid staking derivative token.
View post on Twitter
NFT trading platform, Blur, wraps up Blur Season 2, airdropping BLUR tokens to traders on the platform and NFT creators. Eligible users will have 45 days to claim their tokens. Blur Season 3 has also begun and will last for the upcoming six months until May 2024.
View post on Twitter

Tweet of the Week

Binance CEO, CZ, steps down from Binance after six years of leading the largest crypto exchange in the market, ushering in the era of his successor, Richard Teng.

View post on Twitter
Stay updated on your favorite projects and stay tuned for next week’s edition, and keep supporting your favorite projects, degens!
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
0 people liked this article