Each week, we’ll round up the hottest news across the DeFi ecosystem to help you keep up to speed. 

DeFi on Bitcoin? Maybe. Bitcoin has completed its long-awaited Taproot enhancement, aiming to improve privacy, scalability, and most notably, smart contract functionality, in the network’s first major upgrade since August 2017. (The Defiant

Following on from surging interest in decentralized finance (DeFi) and non-fungible tokens (NFTs), DAOs are one of the most interesting topics in crypto right now. (TheDefiant

JPEGs are booming: Over 500k Ethereum addresses have bought or sold an NFT this year. (Consensys

As new Ethereum-based projects keep popping up, it’s hard to keep up with what’s what in Layer 2. This guide will help you make sense of the many different solutions. (DCBuilder Mirror

After initially saying there were no airdrop plans, decentralized exchange (DEX) aggregator provider ParaSwap Foundation is launching its native token $PSP on the Ethereum blockchain by doing a retroactive airdrop. The protocol airdropped 7.5% of its supply to its users. (The Block

Paradigm, a Web 3 investment and research firm, just announced a brand new crypto fund worth $2.5B. (Paradigm

Polygon is increasing its reach in the scaling solutions with another acquisition, this time of Miden, which will add STARK-based EVM-compatible rollups to Polygon’s suite. (Polygon’s Twitter

In odd news, a group of strangers tried to band together online to purchase the last remaining private copy of The U.S. Constitution, but were not successful. (ConstitutionDAO