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. Unrelated to the venture unit, Uniswap has also released a widget this week to enable users to more easily swap tokens across the web. The widget is already available on OpenSea, Oasis and FWB.
— hayden.eth 🦄 (@haydenzadams) April 11, 2022
Near Protocol may be taking a bite out of UST’s market share, setting an April 20th launch date for its new USN stablecoin – complete with an interest rate of around 20%. The project appears to be modelled upon Terra’s UST stablecoin and Anchor protocol, which provided similar incentives until recent changes for sustainability.
Zoran Kole revealed in "The Future is NEAR" that Near will announce the launch of the stablecoin USN on April 20, which will provide an annual interest rate of about 20%, modeled on UST. Additionally, 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 that allows users to spend crypto without selling it. Instead of selling crypto directly to fiat upon making a purchase, the card’s back-end instead borrows fiat against the crypto used for the purchase.
The #NexoCard is here!
Get yours now!
— Nexo (@Nexo) April 13, 2022
Volt Protocol has raised $2 Million for an ‘Inflation-Resistant Stablecoin’ – possibly the first innovation of its kind. Volt’s stablecoin will track the CPI-U consumer price index, via a Chainlink oracle.
Basically, we think Volt could give users the ability to maintain their purchasing power in inflationary times.
— Framework Ventures (@hiFramework) April 11, 2022
Highest Yields: Nexo Lend at 8.55% APY, BlockFi at 8.50% APY
Cheapest Loans: Celsius at 1.00%, Aave at 3.50% APY
DAI Savings Rate: 0.01%
Base 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: $120.94B (down 11.49%)
DEX Weekly Volume: $18B (up 5.88%)
[Uniswap Team – Uniswap Blog] – Uniswap Drops Swap Widget
[Jordan Finneseth – Cointelegraph] – Indicators flash bullish on COTI ahead of its mainnet and Djed stablecoin launch
[Cameron Thompson – CoinDesk] – DEX Aggregator 1inch Expands to Fantom Network
[Osato Avan-Nomayo – The Block] – Ethereum Push Notification Service raises $10 million in Series A funding
Alejandro is a blockchain writer and consultant who has been involved in the space since early 2016. Being extremely passionate about this emerging technology, he has written content for a myriad of projects and news outlets.