DeFi tokens bounce big, BTC new ATHs, building & sponsor updates
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ARE YOU NOT ENTERTAINED?!?!?!?!?
Haha jokes jokes, but wow this week has been an absolute doozy. About to record with a Bitcoin OG soon and talk about Web 3.0 data to cap off an insane several days.
Monday we covered how to hedge your downside risk in DeFi, then Wednesday the opposite, how to go all in…Thursday followed up with a detailed market overview and here we are with the recap.
Helluva week. Couldn’t do it without y’all.
Cheers to a good weekend.
P.S. Can you feel the sentiment? In my writing. Thats what bull markets do. Be self-aware & execute your plan.
-Andy
???? Big Ups To Our Great Sponsor Aave: Earn Interest & Leverage Your Assets with Aave, a non-custodial money market protocol leading the #DeFi charge.
ALPHA LEAK: Deposit LINK tokens into Aave to get aLINK, then head over to Yearn to put your aLINK into the yaLINK vault for extra yield. It all starts here with Aave!
???? Shoutout to DeversiFi! Trade at lightning speed, with deep liquidity, directly from your privately-owned cryptocurrency wallet on DeversiFi’s L2 gasless exchange!
????Their new roadmap is LIVE with liquidity mining on Beehive 1.0 coming soon????Wiretap Wednesday: Going Risk-On using DeFi Tools
Full Send Friday: WILD Week In Review 11/13
sOIL on Synthetix
The transformation of the legacy markets continues to chug along. Synthetix has introduced their $sOIL and $iOIL synthetic markets to represent Oil and Inverse Oil. This comes as the first product of a touted Synthetix – Chainlink partnership we expect to continue pushing out sophisticated DeFi products. Within the Synthetix ecosystem there are two ways to trade the synthetic Oil market, either with the $sOIL and $iOIL tokens, or by trading their binary options.
Market Bounce
Market volatility is in full swing. There have been plenty of macro forces at play with the election season and coronavirus theatrics. Thankfully, there is some relief in prices this week amidst the DeFi Winter. The DeFi pulse index, a bundle of the most popular DeFi tokens on Set Protocol, has grown 25% this past week. Some top performers of the bunch – $YFI 84%, $AAVE 62%, and $UNI 26%. Check out a deeper analysis of the market action this past week in our Market Overview:
Axie Infinity $AXS token launch
The popular gameplay dApp Axie Infinity, where players can organize their squad of Axies has launched their native token. The token, Axie Infinity Shards, is critical to gameplay on the protocol which serves as staking rewards and governance power within the game. The game has 7,000 monthly active users and shows no sign of slowing down. The $AXS token will add another layer of strategy to the already compelling skill game.
Yearn x Hedge Collab
A long awaited addition to the Yearn ecosystem has finally come to fruition. The Yearn team has joined forces with Hedge to provide an Options offering to Yearn. As Andre describes, the Yearn protocol is concerned with providing ‘downside mitigated savings accounts’. Hedge allows vaults and users to hedge positions with options. Buying or selling options can offset the downside of yield positions. There is still much research and development around optimizing these vault strategies.
Sponsor Updates
AAVE v2 on testnet
An exciting development from the financial engineers at AAVE. The popular borrowing and lending protocol is getting ready to launch their v2. The next version of AAVE is live on testnet and will undergo stress testing before moving to mainnet. In this version we can expect an overhaul of AAVE governance in addition to architecture redesigns and improvements to the UI and UX.
Deversifi Beehive
Deversifi is steadily progressing through their timeline of improvements. One of the top liquidity aggregators in DeFi, Deversifi is now adding technology to compete with the biggest and best beyond just DEXs. Beehive is the exciting launch that will add to the use case of $NEC, Deversifi’s native token. With Beehive implemented, alongside top liquidity and L2 scalable transactions, you’ll find all the tools necessary for farming on Deversifi.
Look Ahead
Plenty of exciting action on the Slate. We have new actionable developments in the pipe for our dedicated audience. Upcoming podcasts with the best in the biz…And nonstop DeFi material so you never fall out of the loop. Another great week!
⚠️ DISCLAIMER: Investing into cryptocurrency and DeFi platforms comes with inherent risk including technical risk, human error, platform failure and more. At certain points throughout this post, we might get commission for promoting certain projects, if this is the case we will always make sure it is clear. We are strictly an educational content platform, nothing we offer is financial advice. We are not professionals or licensed advisors.
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Check out some previous interviews:
DeFi Slate x TheEther: A social governance experience for Ethereum
DeFi Slate x Nick Fett: Oracles, Tellor, and the future of DeFi
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