The DeFi Drop Volume 12
10 Sep 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 popular portfolio management tool has rolled out a new set of Apple-focused updates to help keep users connected across multiple devices. In the sparse land of wallet management solutions, Zerion is popular among DeFi users for their beautiful iPhone app. Now, with native iPad and Mac apps, plus iCloud Private Sync, users will never be too far away from their portfolio. Zerion doesn’t store or have access to any of your personal data stored on iCloud.
A supposedly leaked photo posted on Twitter by news page @Blockworks_ shows a new UI update for Twitter that will allow users to post and share their crypto addresses, starting with Bitcoin and Ethereum. This adds to the lore that CEO Jack Dorsey has been building around better aligning his social network with crypto in the future.
The team behind the UMA Protocol has made a move to add $1M in BED Index tokens to their treasury. The BED Index is a product by Index Coop and Bankless DAO that baskets 1/3 WBTC, 1/3 ETH, and 1/3 DPI (DeFi Pulse Index token, which aggregates top DeFi coins in its own index) to encapsulate the bulk of the market while shielding investors from risky volatility.
If you’ve kept your ear close to crypto this past week, it was impossible to miss the chaos that ensued following the release of the Loot (for Adventurers) NFT by Dom Hoffman (who also happens to be the creator of Vine). The NFTs were just a list of 7 items in Garamond font on a black square. They were free to mint, minus the gas fees.
In a historical community vote that predominantly flew under the news radar, the MakerDAO community voted to loan $21M to UPRETS, which will originate, underwrite and deposit 1st lien mortgage loans backed by land and solar farm facilities located on Long Island, New York, which are developed and owned by the borrower. This is a first-of-its-scale vote and loan by a DAO, especially related to off-chain activity.
According to data acquired from The Block, the DeFi space took a breather this week as over $116M worth of assets were liquidated from traders across the space. The largest liquidation day happened earlier this year in May, when markets corrected upwards of 60% across the board. Liquidations that coincide with price drops often are correlated, signaling an overheated, optimistic market. Do you consider this a healthy flush or part of a bigger macro to consider?