Your Weekly DeFi News in Bite-Sized Fashion

This week’s issue covers events between May 9th and May 16th, 2021.

Welcome to the 42nd 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 9th and May 16th, 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

• xToken got recently exploited for $25M.

• bEarn also got exploited recently for $11M.

• More than $1.8M was stolen from BSC’s PancakeSwap lottery pool.

• After their attack, Rari Capital has allocated more than $26M from their developer fund to compensate the victims.

• According to a report from CipherTrace, more than $156M was stolen in DeFi hacks just this year.

• The Maker Foundation Company is focusing on its dissolution at the earliest for December 31st, 2021, as the next step for decentralization.

• Want to know about the best Polygon DeFi Projects and its ecosystem? Find out here.

• Binance is to reportedly list Shiba Inu (SHIB) in their innovation zone.

• AKITA, SHIB, and a few other dog-themed tokens were sending LP tokens to Vitalik Buterin wallet in a kind of marketing gesture. Then VB dumped these tokens and donated profits to charity.

• Aave is revealing a ‘permissioned pool’ for institutions.

• Tether has detailed their reserve composition for the very first time.

• Opium Protocol and their turbos have gone live on BSC.

• Wall Street traders are finding new leases and using old tricks in the crypto market.

• Elon Musk’s appearance on SNL didn’t help the value of DOGE, and definitely didn’t help his public appearance.

• Curve has recently begun discussion on further expansion of sidechains and L2s.

• Huobi Group’s Investment Arm has dedicated more than $100M to DeFi investment.

• The Brooker Group, a listed financial consultancy, is to invest almost $50M in DeFi and dapps.

• dTrade has closed a $6.4M seed investment round with Three Arrows Capital, Polychain, and more.

• The Polkadot-centric derivatives exchange has raised more than $6.4M in seed investment funding.

• The founders of Deribit are leading a $2.5M round for a decentralized referral network, Attrace.

💱 DEX Report

• The DEX aggregator ParaSwap has raised more than $3M in a seed extension round.

• Balancer V2 also launched this week, after a year in development.

• The DOGE-USD Perpetual market has recently gone live on a Layer 2 at dYdX.

💎 NFT News

• Binance is announcing Binance NFT, a large NFT Marketplace launching in June of 2021.

• Sky Mavis Series A has raised more than $7.5M so that they can scale Axie Infinity and NFT gaming to millions of users.

• JennyDAO has raised $7M to acquire and fractionalize many NFT Collections.

Thanks for reading, and be sure to catch the 43rd issue of The Defiprime Post out this time next week! 👋♦️👋