The DeFi Drop Volume 19
05 Nov 2021, by Bittrex Team
Each week, we’ll round up the hottest news across the DeFi ecosystem to help you keep up to speed.
Check out this article by Hasu, a researcher with Paradigm and editor at Deribit Insights, who penned this piece to help provide mental models for DeFi users to understand DeFi protocol treasuries. (Uncommon Core).
Federal Deposit Insurance Corporation (FDIC) Chair Jelena McWilliams said earlier this week that U.S. banks should be allowed to hold cryptoassets during an interview at a crypto event. (CryptoGlobe)
Disney is getting into the NFT game with Veve, a layer 2 NFT platform. While specific IP has not been shared yet, the announcement mentions the inclusion of properties beyond core Disney, including Marvel and Pixar. This represents one of the largest IP owners making a foray into NFTs. (LedgerInsights)
Bug bounties are where software superstars try to find bugs in smart contracts before they go live to the public. These coders are paid for finding dangerous cracks. Immunefi, a crypto startup that helps DeFi protocols launch bug bounty programs on its platform, has raised $5.5 million in a seed funding round. (The Block)
After running an “Alice in Wonderland” themed DeFi cover that attracted big attention from cryptoland, The Economist has taken its own advice and leapt down the DeFi rabbit hole by selling the cover as an NFT. (DeCrypt)
Lots of Layer-1 blockchains have announced large developer funds to encourage more applications in their ecosystems. Avalanche is the latest with an announcement of $200M fund to attract DeFi developers. (The Defiant)
Following the waves from Facebook’s name change to Meta, metaverse-related tokens in DeFi have been on an accelerated rise, including projects like Decentraland and Sandbox. (CoinDesk)
In DeFi, project tokens get distributed to their communities often through retroactive airdrops, where teams send users who have interacted with the protocol tokens based on certain metrics. This “Ultimate Guide to Airdrops” provides a resource for projects that may provide an airdrop for users. (Bankless)