DeFi Drop Volume 7
04 Aug 2021, by Bittrex Team
Each week, we’ll round up the hottest news across the DeFi ecosystem to help you keep up to speed.
The original DeFi app is finally decentralized, with the dissolvement of the Maker Foundation announced by founder Rune Christensen. MakerDAO ($MKR) is the lending and borrowing protocol that is responsible for maintaining the DAI stablecoin, and one of the original successful Ethereum-based projects to be built on the network.
In the crowded and highly-competitive AMM space on Ethereum, Sushi Swap has announced Trident, a new AMM model that promises four customizable liquidity pool options, plus significant capital efficiency for depositors. Sushi CTO Joseph Delong announced the news at the Ethereum Community Conference in Paris.
Launch of new investment product and index reflects increasing investor interest in Decentralized Finance (DeFi). The Grayscale DeFi Fund will provide investors with exposure to a selection of industry-leading DeFi protocols through a market-capitalization weighted portfolio designed to track the CoinDesk DeFi Index. For institutional and retail investors, this will be an easy way to get exposure to a number of DeFi tokens (many available singularly on Bittrex).
For DeFi traders looking to swap assets on Ethereum, or users who wants to provide liquidity to a popular AMM, Uniswap has been the place to do it. In a move that caused ripples through the community, Uniswap recently announced they were removing a number of “risky” DeFi assets from their site’s interface. Critics ponder the decentralization of Uniswap following this move, and Uniswap purports the code is still 100% decentralized.
The Thesis is responsible for some exciting and increasingly important products in DeFi, such as tBTC, a BTC pegged token that is EVM compatible. CEO Matt Luongo says the raise will help launch new projects, including a Web 3 wallet. Thesis is also looking to expand its tech capabilities, enter new markets, and grow its ecosystems, said Luongo, without disclosing specific details.
The president of the Siam Commercial Bank made remarks to a large cryptofinance conference this month, where he lauded the DeFi industry as having experienced “tremendous growth” to the tune of $100B in total value locked inside DeFi this year. Instead of regulation, the president purports there needs to be a framework for how DeFi can be integrated with the rest of the financial ecosystem.
In this opinion article written by lawyer Paul H. Jossey, the author argues that regulators should prosecute fraud, but also acknowledge the limits of their effectiveness and allow DeFi to mature. He invokes a number of laws to articulate how the government could effectively stifle, hemorrhage, and “kill the promise” of DeFi for Americans, while other countries win out.