I wish you a nice Wednesday DeFi Degens!
I used to expect to spend a large portion of that difficulty from Finance Redefined on analyzing Aave’s liquidity mining program. Traders feared that spending 2,200 AAVE per day (which is roughly 5% of the Ecosystem Reserve Fund’s 2.8 million AAVE per year) could depress the token’s value if farmers earn and discard.
I could be very uncomfortable holding an asset when the governance mark of an important protocol ends up in the arms of people who only consider short-term positive factors.
– Grogu (@ eip1559) April 26, 2021
It seems pointless: this system is a complete success. The AAVE token is practically up 15% because the liquidity run has started, to $ 462, and the total value of the log has increased to $ 11.8 billion – from just over $ 7 billion because the liquidity run has started .
Well-researched liquidity mining work. The one question is, when this system is discontinued, how much of this TVL gets sticky?
Different narratives to keep an eye on:
Cash Legos keep piling up
Earlier this year, it was hypothesized that DeFi would see some kind of novelty in 2021: one protocol acquires another, no doubt through a buyout of governance tokens. In particular, the roadmap for Synthetix 2021 opened the door to such an opportunity, unlike acquisitions in TradFi, and was impressed by Yearn’s merger / acquisition / collaboration Spree.
Still, large-scale mergers and acquisitions need to be carried out. There are some minor examples of the brewing – Inverse Finance is currently planning to buy Tonic for around $ 1.6 million – but as an alternative, we’re seeing an increase in deep integrations into the protocol and front-end areas.
Girls and men
Finally, we provide you with the primary DAO acquisition vote in the historical past of Crypto
NEW SUGGESTION FOR THE CHAIN: Buy Tonic Finance
Vote now: https://t.co/c4beGqz6t5
If you happened to delegate someone else, your delegate will vote on your behalf. Pic.twitter.com/inNwskammI
– Inverse.Finance (@InverseFinance) April 28, 2021
On Monday, Badger DAO and RenVM launched Badger Bridge, a brand new interface that allows native BTC to be saved to Badger vaults with just a few clicks. The combination is characterized for two reasons. One factor is that this is clearly mutually beneficial: Hodler is committed to some foolproof means of generating BTC returns, suggesting that Ren will get more exercise on his bridge (and subsequently in the protocol fees), while Badger additionally receives an increase in TVL.
The downside, however, is the willingness with which Ren subordinated his branding and let Badger – who I think has the stronger group – take over the touchdown website. Had it not been for absurd token reviews, it would have been an acquisition target for the opposite, considering everyone fulfills the simple desires. However, when Ren works together he gets everything he wants from a protocol like Badger, and so on, Badger and Ren do.
This begs the question: why problems with takeovers when a comfortable integration can produce identical results?
Another important instance is the announcement of the Balancer Gnosis Protocol. You will be able to see the fine print in my article, but Balancer v2 is successfully bringing some good improvements to AMM liquidity supply, and Gnosis’ CowSwap is a liquidity aggregator and offchain transaction batching log that is reported to be the extractable The miner’s value decreased. From the point of view of an LP and a retailer, the mixture of the two will lead to a considerably additional feature-rich DEX – probably even positioning the Balancer Gnosis protocol as a Uniswap v3 competitor.
In an announcement to Cointelegraph, Fernando Martinelli, CEO of Balancer, admitted that such a deep cooperation in the conventional currency world is unthinkable:
“In conventional finance, it is inconceivable to implement both protocols just because there is no trustworthiness there (you always want a middleman). Even if it was possible, combining these two protocols can be as difficult as integrating Constancy Index Funds (Balancer) with Nasdaq (Gnosis) under a single platform. “
Acquisitions will be an outdated mannequin. Interoperability and composability mean that protocols can benefit from each other without hostile takeovers.
The branding should still need to be discovered – the Balancer Gnosis Protocol isn’t exactly the perfect identity.
Do you communicate my language
The target posts for Ethereum maximalists keep shifting as natural exercises spread to different chains.
On Solana, for example, $ COPE and $ STEP have attracted key group followers and funding from key players (along with funds other than well known SOL backers, Alameda Analysis!). A hackathon was launched this morning aimed at leveraging the hashtag. “Solanaszn” to begin. “Various people have taken care of ‘Solana Summer Time’ within the DeFi summertime type of last year, no matter what your favorite sobriety is, the competitors are indeed.
The success has – perhaps predictably – caused some observers to poke holes in the development thesis of SOL. While, as with any chain, there are different alternatives for attack, one growing criticism is that Solana’s flagship language, Rust, is each harsh and unique.
1 / In my humble and naive opinion, Rust could be a temporary bottleneck for the adoption of Solana builders as it is just barely easier than learning C ++ and it takes a while to be taught
– 10spot (@ 10spot1) April 24, 2021
In an announcement to Cointelegraph, Solana founder and current president of the Solana base, Anatoly Yakovenko, rejected this view.
“Rust is a contemporary, normally accepted language suitable for writing secure, high-performance code. The stack overflow has been rated as possibly the most popular programming language by 65,000 programmers. We are sure later that this can play a key position within the natural evolution of our development group, ”he explained.
He was also famous for the Muse counting 2,000 builders building on Solana (he didn’t point out any methods or definitions used to get that amount, and it might sound a little hyped. One of ConsenSys) The study carried out resulted in 1,300 building owners of Ethereum and 2020 Electrical Capital puts the total diversity of ETH building owners at around 2,300. Solana building owners will not deal with “copies / pastes” of Ethereum tasks.
It’s also correct about the stack overflow check, although a 2018 poll on the Rust weblog found that over 20% of home builders using the language felt unproductive after a year.
No matter how you look at Rust, it’s undoubtedly a problem that cash can fix. And for this goal Solana steps on the pedal: The hackathon offers prizes and / or start-up capital of “up to 1 million US dollars”. I have the feeling that I am being taught a difficult language for this.
Different stories this week:
Uranium Finance tends to lose $ 50 million
ETH is cracking all-time highs
Aave’s liquidity mining program has been successful from the start
NYSE President upbeat about DeFi