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DeFi Weekly | DEX aggregation platform ParaSwap has supported UniswapV3

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DeFi Weekly is a weekly summary column in the DeFi field launched by Jinse Finance, covering important DeFi data, DeFi project trends, etc. this week.

1. The total market value of DeFi: 133.984 billion US dollars

DeFi market capitalization data source: CoinGecko

2. Trading volume on decentralized exchanges in the past 24 hours: $6.63 billion

DEX trading volume in the past 24 hours Data source: Debank

3. The total amount of loans on DeFi lending platforms: 22.47 billion US dollars

DeFi project Benqi Finance raised $6 million: The DeFi project Benqi Finance raised $6 million in strategic financing. Investors include Arrington XRP Capital, Dragonfly Capital, Ascensive Assets, Mechanism Capital, etc. (beincrypto) [2021/4/15 20:23:01]

DeFi lending platform total borrowing data source: Debank

Top 10 Lending Platforms Ranking Source: Debank

Ouyi OKEx DeFi broadcast: The total market value of DeFi is 169.39 billion US dollars, and the Ouyi OKEx platform TAI leads the rise: According to Ouyi OKEx statistics, the current total market value of DeFi projects is 169.39 billion US dollars, and the total lock-up volume is 78.08 billion US dollars;

In terms of market conditions, DeFi tokens are generally rising today, and the top three DeFi tokens on OKEx platform are TAI, TRADE, and UNI;

As of 19:00, the popular DeFi currencies on the OKEx platform are as follows: [2021/4/12 20:11:06]

4. Assets locked in DeFi: $119.66 billion

Data: BAT became the most used token in DeFi in the second quarter of 2020: According to the latest report from Dapp.com, BAT, the token used to incentivize digital advertising consumption on Brave Browser, was the most used token in DeFi in the second quarter of 2020 most tokens. The transaction volume of BAT in DeFi reached 931 million US dollars, 300 million US dollars more than Ethereum. DappRadar’s director of communications, Jon Jordan, said the token’s overnight success was due to its highest compound return rate, not because of any characteristics of BAT. In June alone, over $500 million worth of BAT was borrowed through Compound, enough to make it the most traded digital asset in the DeFi space in Q2 2020. (Coindesk)[2020/7/7]

Top 10 rankings of assets locked in DeFi projects and locked positions, data source: Debank

HECO announces to provide underlying technical support for Rebase Hackathon

On May 14th, HECO announced to provide underlying technical support for the Rebase Hackathon. From May 14th to May 16th, the Rebase Hackathon will be launched simultaneously in Beijing, Nanjing, Chengdu, Shanghai, Shenzhen and other places. Developers and project parties of the Reabse Hackathon provide technical support and guidance. It is reported that this hackathon is jointly sponsored by the Rebase community, the ETHPlanet community, and Pure White Matrix, with the themes of DeFi, NFT, DAO, Layer2, etc., based on Ethereum, allowing hackers to build product prototypes within 72 hours. The winning teams will receive bonuses, technical and resource support. In addition, HECO’s first hackathon on HackerLink is underway.

DeFi platform Compound now supports USDT lending: In a recent vote on whether to add USDT to the protocol, 797,981.28 votes were in favor of the proposal and 85,580.73 were against. It’s worth noting that while users can make and use USDT loans, the stablecoin cannot be used as collateral. (theblockcrypto)[2020/5/2]

Founder of Real Vision: Currently in the middle of the bull market, the two major breakthroughs are Defi and NFT

Raoul Pal, a former Goldman Sachs executive and founder of Real Vision, tweeted earlier today that it is clear that we are in the middle of a bull market. The two major breakthroughs this time are Defi and NFT. As we enter the next down cycle, the field will clear and the winners will be ready for their mass adoption phase. He stated that it is completely unknown which protocols other than BTC and ETH will see real and meaningful adoption. Raoul Pal guesses that crypto users will reach 1 billion by 2025 or sooner. Diem will be a huge catalyst for all of this. In terms of users, the crypto space is growing at a rate of 113% per year. Even if slowed to the 63% increase in network adoption that the internet saw during the same period, it would still result in 4 billion users by 2030 or sooner.

Vitalik Buterin dumped over $40 million in meme tokens via Archer Swap

According to news on May 14, among the large number of meme tokens sold by Ethereum founder Vitalik Buterin yesterday, more than 40 million US dollars were sold through ArcherSwap. At first, Vitalik exchanged meme tokens for ETH through Uniswap. However, the transaction failed due to rushing and cost a lot of ETH. Later, Vitalik switched to ArcherSwap for transactions. Note: ArcherSwap can rely on Uniswap and Sushiswap liquidity without publicly broadcasting transactions to mempool. Archer, an Ethereum miner extractable value (MEV) arbitrage product developed by an anonymous team, was launched three weeks ago.

DEX aggregation platform ParaSwap has supported UniswapV3

On May 13th, the DEX aggregation platform ParaSwap tweeted that it has supported UniswapV3. Note: ParaSwap is a middleware that simplifies user interaction with various DeFi services. It aggregates the liquidity of major decentralized exchanges in one convenient interface, abstracting away most of the complexities of exchanges, thus making them conveniently accessible to end users.

1inch Network extended to Polygon network

Jinse Finance reported that the on-chain transaction aggregator 1inch Network has now expanded to the Polygon network (formerly Matic), which has brought more sources of liquidity to Curve, SushiSwap, QuickSwap, Aave V2, and Cometh. 1inch announced that it will immediately increase the liquidity pool of the exchange, and as time goes by, more protocols will be gradually added. 1inch described Polygon as an "important" infrastructure protocol for ensuring efficient ethereum scaling as the developer network transitions to proof-of-stake (PoS).

Sushiswap team developer: Sushi achieved a transaction volume of 40 billion US dollars in Q1

On May 11, Sushiswap team developer 0xJiro forwarded a reply to netizens saying that Sushi achieved a transaction volume of US$40 billion in the first quarter, of which xSUSHI holders received US$20 million in fees. In comparison, AAPL paid $3 billion in dividends to shareholders in the first quarter, $0.22 per APPL holder and $0.36 per xSushi holder.

The 24-hour liquidation volume of the lending agreement on Ethereum reached 27.83 million, an increase of 297% month-on-month

According to data from OKLink, affected by market fluctuations, the 24-hour liquidation volume of the lending agreement on Ethereum reached 27.83 million US dollars, an increase of 297% from the previous day. Among them, positions of Aave V2, Compound, and Dydx were liquidated for $18.64 million, $7.86 million, and $1.33 million, respectively.

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