Your Weekly DeFi News in Bite-Sized Fashion
This week’s issue covers events between May 2nd and May 9th, 2021.
Welcome to the 41st issue of The defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between May 2nd and May 9th, 2021.
Want more in-depth knowledge? We have communications over at our Telegram channel @defiprime. Check out defiprime’s latest news, interviews, guides and more with daily updates.
🔥 The DeFi Bulletin
RariCapital exploited for $14M
Ethereum hit $3000 days ago, and has overtaken Bank of America, the Walt Disney Company, and even Facebook in total market capitalization.
Chainlink’s founder, Sergey Nazarov, believes that the DeFi market could swell to $1 Trillion in value in the next year.
Robinhood servers crashed (as usual) during a Dogecoin spike, and traders aren’t happy.
The Maker Foundation has returned Dev Fund Holdings of more than 84,000 MKR to the MakerDAO.
Speaking of DAOs, the Open DeFi alliance has announced a new DAO to support their entire ecosystem.
OKEx is to support direct deposits and withdrawals onto the Ethereum L2 scaling solution, Arbitrum.
The Eth2 staking project, Lido Finance, has raised more than $73M in funding led by Paradigm.
The Secret Network has raised more than $11.5M to further privacy and app development.
Formation Fi has closed a $3.3M in funding through strategic sales, from early DeFi UniCorns so that they could build the Smart Yield Farming 2.0 framework.
Dapp List has raised $1.7M from CMS and other industry heavy-weights to build a multi-chain ecosystem.
💱 DEX Report
Uniswap V3 launched on the Ethereum mainnet.
What are privacy-preserving contracts and how SecretSwap works? Learn about them in an interview with Secret Network’s Co-Founder Can Kisagun.
💵 State of the Stablecoins
PayPal is holding exploratory talks about launching its very own stablecoin.
As mass adoption continues, stablecoins are reportedly presenting new dilemmas for regulators of currency around the globe.
💎 NFT News
eBay is reportedly very open to accepting cryptocurrency in the future, and is exploring NFTs.
Multicoin Capital has announced a $100M fund to invest in NFT, DeFi, and other web3 projects.
The NFT startup RTFKT has raised $8M in seed funding, led by investors like A16Z.
Paradigm and 3LAU have backed a $7.6M raise to attempt to build a ‘NFT Social Network’.
Upshot raised $7.5M, so that they could bring price clarity to NFTs.
Burnt Finance have raised $3M to attempt to build an NFT Platform on the Solana Blockchain.
Drops has closed a $1M private funding round so that they could create new value for NFTs.
Charged Particles has raised $1M in a 10x over-subscribed seed round.
Thanks for reading, and be sure to catch the 42nd issue of The Defiprime Post out this time next week! 👋♦️👋