DeFi Weekly | UNI 7 days down over 20% SUSHI supply reduction has officially started

1. The total market value of DeFi is 13.178 billion US dollars. UNI, YFI, and UMA have all fallen by more than 20% this week. The prices of the top ten currencies in market value and their rise and fall this week, data source: CoinGecko 2. The trading volume of decentralized exchanges: 719 million US dollars Top 10 DEXs by trading volume Data source: Debank 3. DeFi lending platform total borrowings: 2.09 billion USD Data: The total lock-up volume of the current DeFi protocol is 176.83 billion USD: According to news on September 29, according to Defi Llama data, the current DeFi The total locked position of the agreement is 176.83 billion US dollars, an increase of 2.62% in 24 hours. The top five locked assets are Curve ($13.62 billion), AAVE ($12.49 billion), MakerDAO ($11.7 billion), InstaDApp ($11.11 billion), and Compound ($10.42 billion). [2021/9/29 17:15:21] Data source: Debank 4. Locked assets in DeFi: total value of USD 10.919 billion DeFi top ten locked positions Data source: DeFi Pluse▌Yam Finance will submit 4 major proposals tomorrow Snapshot DeFi protocol Solv Protocol will launch a new product Solv Vouchers, made of vNFT standard: DeFi protocol Solv Protocol will launch a new product Solv Vouchers, referred to as SV. Solv Protocol stated that the current distribution of encryption projects is not conducive to decentralization, and it is almost impossible for the public to obtain distribution. Additionally, most allocations are "locked" and have no liquidity value. Solv Vouchers are made by the Solv Protocol Token Standard (vNFT Standard). The vNFT Token is semi-fungible, between the ERC-20 and ERC-721 standards, allowing it to encode information like 721 NFT Tokens, while being able to Like ERC-20 tokens are split or combined. Vouchers can be minted directly on the Solv Protocol platform, and projects distributed in the form of Solv Vouchers are more flexible in terms of liquidity. Because Vouchers are also NFT tokens, they can be bought and sold on any NFT-supported ERC platform (such as OpenSea). Projects that accept NFT tokens as collateral (such as NFTfy) also accept Solv Vouchers. [2021/6/14 23:35:32] On October 3, Yam Finance officially tweeted and announced that it will submit a snapshot for the current official forum proposal tomorrow and enter the voting process. Voting will start at 21:00 UTC on October 3rd (5:00 on October 4th Beijing time). Official reminder, please remove the liquidity at that time. The specific snapshot block details will be announced tomorrow. The official proposals on the forum mainly include: 1. Use the ETH/YAM pool as a new financial purchase pool to solve the problems of liquidity and capital flexibility. The proposal proposes to take incentives from the YAM/yUSD pool (formerly the fiscal pool), add incentives to the YAM/ETH pool, and convert the target price from 1yUSD to $1.00. 2. Proposal to amend the Yam protocol so that LPs among the motivators (i.e. "farmers") can vote in the on-chain governance process. Because the current personal governance voting rights are based on the base value of the YAM held when the account starts voting, it means that individuals in the incentive pool cannot vote. 3. Proposal for the Ministry of Finance to invest in the DeFi Pulse Index Set, that is, to purchase the DeFi Pulse Index Tokenset (DPI) for USD 250,000. The move is aimed at allocating part of the fiscal funds to the DPI to diversify risks. 4. Add the RageQuit function to provide a fair way for users to quit YAM. Specifically: a. Fiscal expenditures are determined based on YAM tokens; b. Users are paid from YAM treasury reserves, or bonds are issued at an equivalent denomination; c. Bonds are auctioned and funds are provided to users who burn tokens ;d. All future YAM treasury inflows must first repay the debt before flowing into YAM bonds. Korean DeFi project Donnie Finance will airdrop 5% of the total supply of DON to IOST users for the first time: According to IOST official news, the Donnie Finance team decided to airdrop 10% of the total supply of DON (Donnie Finance token) to IOST holders. It will be distributed through several events. Recently, Donnie Finance confirmed that it will airdrop 5% of the total supply of DON to IOST users for the first time. UPbit, one of the most trusted exchanges in South Korea, has officially announced that it will support the IOST snapshot DON airdrop. Donnie Finance has launched 7 products, and DON has also been launched on CoinOne, a leading Korean trading platform. Donnie Finance will launch liquidity mining in late February. [2021/2/18 17:26:51]▌YFI has been added to the Metamask default token list On October 3rd, yearn.finance core developer banteg tweeted that YFI has been added to the Ethereum light wallet MetaMask default List of tokens. ▌Comment: The theft of KuCoin shows that the risk of DeFi being used for money laundering is increasing. 13 million USDT was injected into the DeFi lending platform Aave: At 16:36 on November 19th, Beijing time, a sum of 13 million USDT was injected into DeFi lending through the Ethereum blockchain The platform, worth about $13,061,293, is transferred from FTX, a cryptocurrency derivatives exchange. [2020/11/19 21:22:55] According to a Forbes review article, the theft of KuCoin indicates that the risk of DeFi being used for money laundering is increasing. There are many risks in the innovation of DeFi, such as the lack of KYC/AML measures and the lack of guarantees during transactions. The lack of safeguards will lead to an increase in "bad guys", bringing this field to a dangerous situation, and also making some DeFi project parties involved in money laundering and terrorist financing. And this is not the first time DeFi has been used for money laundering. AOFEX’s DeFi liquidity mining income has been released today: AOFEX’s DeFi liquidity mining income has been distributed today, and OT is now quoted at 15.86AQ. The fourth phase is running stably, and the current annualized rate of return for the second phase (UNISWAP) mining activity is 63.49%. AOFEX will continue to screen high-quality liquidity mining projects for users and monitor them in real time, and users can participate by mortgaging OT. AOFEX is the world's leading digital currency financial derivatives exchange, aiming to provide users with quality services and asset security. [2020/10/3] ▌Compound launched governance proposal 025 and plans to support UNI tokens Just now Compound Labs officially tweeted that Compound co-founder and chief technology officer Geoffrey Hayes has submitted Compound governance proposal 025, planning to add UNI to the Compound protocol . Specifically: the mortgage factor is 60%; the storage factor is 20%; the loan limit is 2 million UNI. ▌dForce has a total lock-up volume of 200 million US dollars and will continue to connect to agreements such as Curve.fi in the future. On September 28, the decentralized financial agreement dForce officially issued a document, announcing the ninth week of dForce’s liquidity mining champagne tower pool and gold rush pool The incentives remain unchanged, that is, the champagne tower pool (Pool No. 1 supports dToken; the total amount of DF rewards is still 260,000 DF) and the gold rush pool (Pool No. 2 is for GOLDx/USDx; 25,000 DF) will end on October 5 ; The incentive plan for the ninth week of Singularity Pool will be notified separately. In addition, the official stated that as of September 28, the total locked position of dForce reached 200 million US dollars. In the future, dToken will continue to be connected to other liquidity protocols such as Curve.fi. ▌MakerDAO "Black Thursday" related lawsuit officially submitted to arbitration September 29 news, a lawsuit accusing MakerDAO of falsely stating DAI-related risks during the "Black Thursday" event has been officially submitted to arbitration. MakerDAO user Peter Johnson filed a lawsuit on April 14, 2020, claiming that DAI's terms of service deliberately distorted the structure of the MakerDAO agreement in order to downplay the risk of using the agreement, and claimed nearly $30 million in damages. Previously, on September 22, MakerDAO decided through a community vote that it would not compensate users who suffered losses in the "Black Thursday" event. ▌Data: Uniswap lock-up volume reached 2.32 billion US dollars According to OKLink data, as of 18:00 today, the total lock-up volume of Defi protocols on Ethereum is about 13.49 billion US dollars. Among them, the top three are Uniswap $2.32 billion (+0.05%), Maker $1.95 billion (-1.09%) and Curve $1.58 billion (-2.02%). ▌Yam Finance has officially submitted the on-chain proposal to modify the key parameters of the Yam protocol On the morning of September 30, Yam Finance officially tweeted that the on-chain proposal to modify the key parameters of the Yam protocol, MaxSlippage and RebaseLag, had been officially submitted to open governance voting. Officials said the voting would last for 48 hours, and if approved, would enter a 12-hour time lock. ▌Uniswap’s transaction volume surpassed the second largest CEX Coinbase ProUniswap’s cumulative total value locked (TVL) this week was as high as 2 billion US dollars. Among DeFi projects, Uniswap holds more than 18 percent of the $11 billion market, data on Tuesday showed. According to the trading volume data on Tuesday, the second largest CEX, CoinbasePro, had a transaction volume of US$343 million in the past 24 hours, and Uniswap is now much higher than Coinbase Pro at a price of US$398 million, making DEX the largest in terms of trading volume on September 29. The second largest cryptocurrency exchange. ▌Yearn.finance: Processing the return of ENM stolen assets On September 30, Yearn.finance officially tweeted that it is currently processing the return of ENM project assets. According to news on September 29, the newly launched ENM project of yearn.finance founder Andre Cronje encountered a Flash loan attack, and 8 million US dollars of stolen funds were sent to Andre's own yearn: deployer account. Subsequently, Andre Cronje plans to return $8 million in stolen funds. ▌SushiChef: SUSHI supply reduction has officially started On September 30th, SushiChef tweeted that the SUSHI supply reduction activity has officially started, that is, from now on, 2/3 of the newly produced SUSHI supply will be locked in 6 moon. The official reminded that users may only see 1/3 of the rewards now, and the annualized income will seem to drop by 3 times, but don’t worry, this is not the case, just because 2/3 of the rewards are locked. ▌SushiSwap Officially Announces the Progress of the Four Major Proposals in the CommunitySushiSwap officially released the "SushiSwap Proposal Progress Report" today. The article announced the progress of SushiSwap's four recent community proposals. The specific content-zce is: 1. Proposal 1, SushiSwap builds a new website. The new website allows users to set slippage and transaction deadlines, and provides real-time price information. In addition, the new website aggregates Swap and liquidity mining. 2. Proposal 2, SushiSwap will continue to update/add new liquidity pools, and 9 new pools have been launched today. 3. Proposal 3. The community has voted to approve the SUSHI reward lock-up proposal "SUSHI Emission", which means that the supply reduction of SUSHI will come into effect. 4. Proposal 4, for the "BentoBox Advanced Lending Solution", the current team has completed the design of the basic lending function and the construction of the oracle interface. The program will eventually include functions such as: setting up an independent risk liquidity pool, innovative mortgage lending, setting up a platform to adaptively adjust the loan ratio, optimizing smart contracts to reduce gas costs, etc..

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