Terra (LUNA), Uniswap (UNI) And Cronos News | crypto.com: "Weekly DeFi Update (Week 18, 02/05/2022 – 08/05/2022)"
Crypto.com Accelerate the... 09.05.2022 10:23
UST depegged after US$285M sell-off but quickly regains peg. Uniswap reports deeper liquidity on multiple Ethereum pairs than leading centralised exchanges. Cronos Ecosystem Grants Program announces third batch of grant recipients.
Key Takeaways
The world’s third largest DeFi protocol by total value locked (TVL), Anchor Protocol (ANC), has lowered the UST earn rate from 19.4% to 18.0% annual percentage yield (APY) since 1 May 2022. Also, a proposal to roll out voting escrow ANC (veANC) has been approved.
Terra’s UST depegged after a massive US$285 million sell–off on Curve Finance (CRV) and leading centralised exchange. It was soon stabilised and back to peg. Meanwhile, Luna Foundation Guard (LFG) has added another US$ 1.5 billion of Bitcoin (BTC) to its UST reserves.
Uniswap V3 (UNI) is reported to have deeper liquidity in multiple Ethereum (ETH) pairs than leading centralised exchanges by about 2x or more.
Cronos Ecosystem Grants Program announced the third batch of grant recipients, which include a few DeFi projects, such as Argo Finance.
This week’s price and volume indices were negative at -7.04% and -9.75%, respectively, while the volatility index was positive at +38.89%.
Highlights
Curve Finance (CRV) integrates with Near’s Aurora Network.
Terra’s LUNA declines 10% amid UST depegging concern
Hacked crypto platform offers ‘No Questions Asked’ US$10 million bounty for stolen funds
Total investment in Syndicate DAO tops US$28 million after latest funding round
Jane Street dives into DeFi with US$25 million USDC loan
Lido (LDO) briefly becomes top DeFi protocol by TVL with US$20 billion staked
Juno’s DAO votes to confiscate US$35 million in tokens from whale in messy dispute
’Revolution’ promised by Tron’s Justin Sun looks like clone of Terra’s algorithmic stablecoin
Ribbon Finance (RBN) gives half its protocol revenue to stakers
Vector Finance (VTX) TVL hits a record high as the Curve Wars shift to Avalanche
Tron DAO buys US$39 million worth of TRX as reserves for its USDD stablecoin whose circulating supply has exceeded US$200 million
Polkadex has won the 16th Polkadot’s parachain slot
Cardano’s first eUTxO cross-chain decentralised exchange goes live on public testnet
Check the latest prices on Crypto.com/Price
Top Token Metrics
Metrics
Top 20 DeFi tokensmarket cap
Top 100 DeFi tokens market cap
Current
$72.41B
$92.35B
7-Day Change
-12.73%
-11.70%
14-Day Change
-20.83%
-20.67%
*Top DeFi tokens based on CoinGeckoSource: CoinGecko
DeFi Index Tokens
Metrics
Price
Volume
Volatility
Top Gainers
CRV (+12.63%)UNI (+0.28%)FXS (+0.07%)
ANC (+161.57%)FXS (+101.52%)CRV (+22.22%)
ANC (+316.91%)FXS (+207.72%)SPELL (+141.28%)
Top Losers
VVS (-18.62%)MKR (-17.88%)LDO (-14.20%)
CAKE (-50.98%)SNX (-41.55%)AAVE (-33.17%)
LDO (-89.80%)SNX (-44.24%)CAKE (-43.75%)
Benchmark
ETH (-10.30%)
ETH (+2.43%)
ETH (+47.01%)
*DeFI index tokens: AAVE, ANC, BAL, CAKE, COMP, CRV, CVX, FXS, JOE, LDO, LINK, MKR, OSMO, REN, SNX, SPELL, SUSHI, UNI, VVS, YFI
Notable Events
CRV jumped as institutional capital flows in.
Tags
CRYPTO
CRYPTO RESEARCH
CRYPTOCURRENCIES
DEFI
Source: crypto.com