To the DeFi community,
This week Uniswap Labs has announced a venture unit, which will invest in promising web3 projects. Uniswap Labs also plans to actively participate in the governance of the projects it invests in. Separate from the venture entity, Uniswap also released a widget this week to make it easier for users to exchange tokens over the internet. The widget is already available on OpenSea, Oasis and FWB.
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🚀 I’m excited to start @Uniswap Labs Ventures which will invest in innovative projects and companies building in Web3 https://t.co/VdXQpyfxQU
— hayden.eth 🦄 (@haydenzadams) April 11, 2022
Near Protocol could reduce UST’s market share and set an April 20 launch date new USN stablecoin – complete with an interest rate of around 20%. The project appears to be modeled after Terra’s UST stablecoin and anchor protocol, which offered similar incentives until recent sustainability changes.
Zoran Kole revealed in The Future is NEAR that Near will announce the April 20 launch of stablecoin USN, which will offer an annual interest rate of around 20% along the lines of UST. In addition, Near will be listed on Coinbase in the coming months. https://t.co/K7BPoEC4wp
— Wu Blockchain (@WuBlockchain) April 8, 2022
Centralized crypto lending platform Nexo has launched the first crypto-funded bank card, allowing users to do so Spend crypto without selling it. Instead of selling crypto directly to fiat upon purchase, the card’s back-end instead borrows fiat against the crypto used for the purchase.
The #NexoCard is here!
Say hello to the only card that lets you spend the value of your #crypto without selling it!
Get yours now!
1/2https://t.co/saMvEgcgMg
— Nexo (@Nexo) April 13, 2022
Volt log has Raised $2 million for an “inflation-resistant stablecoin” – possibly the first innovation of its kind. Volt’s stablecoin will track the consumer price index CPI-U via a Chainlink oracle.
1/ We just carried the $2M seed round for @VoltProtocol, an inflation-resistant stablecoin protocol that uses CPI data pulled on-chain via @Chainlink.
Basically, we think Volt could give users the ability to maintain their purchasing power during inflationary times.
A 🧵👇 https://t.co/Mv6LPnIHnl
— Framework Ventures (@hiFramework) April 11, 2022
Central banks have continued to embrace crypto over the last week, with the Bank for International Settlements (BIS) introducing a very interesting term: “Does secure DeFi need CBDCs?”. Integrating CBDCs (central bank digital currencies) into the DeFi world as we know it would represent an intriguing mix of two opposing worlds, but also open up some very interesting possibilities. Imagine a DeFi world where no fiat gateway is required – just send your daily CBDC dollars to a smart contract and start lending or yield farming right away.
Of course, it may not really be that simple. In all likelihood, governments will try to keep CBDCs on a tight leash, either by whitelisting “decentralized” applications to allow CBDC integration at their discretion, or in other ways. In any case, it will be an odd concept to watch as the traditional financial system transitions to DeFi in whatever capacity.
Perhaps we will inevitably have two separate crypto ecosystems: A garden-walled and government-sanctioned “DeFi” ecosystem that tracks CBDC activity and verified wallets. On the other hand, we will have the wild west of DeFi, where everything is allowed – and without central bank influence. While “traditional” finance and real crypto will look more alike than ever, it is likely that there will also be an increasing disconnect between the two worlds as CBDCs shut down more real crypto gateways than today.
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MakerDAO Updates
DAI savings rate: 0.01%
Basic fee: 0.00%
ETH Stability Fee: 0.50%
USDC Stability Fee: 0.00%
WBTC Stability Fee: 0.75%
Highest Yields: Nexo Lend at 8.55% APY, BlockFi at 7.76% APY
Cheapest loans: Celsius at 1.00%, Aave at 3.46% APY
Total Value Locked: $76.67B (down 3.90% since last week)
DeFi Market Cap: $120.94 billion (down 11.49%)
Weekly DEX Volume: $18B (up 5.88%)
DAI supply: 8.79 billion (down 2.01%)
[Uniswap Team – Uniswap Blog] – Uniswap drops swap widget
[Jordan Finneseth – Cointelegraph] – COTI indicators are flashing bullish ahead of mainnet and Djed stablecoin launch
[Cameron Thompson – CoinDesk] – DEX Aggregator 1inch extends to the Fantom network
[Osato Avan-Nomayo – The Block] – Ethereum push notification service raises $10 million in Series A funding
Alejandro is a blockchain author and consultant who has been in the field since early 2016. Extremely passionate about this emerging technology, he has written content for a variety of projects and news outlets.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
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