This Week in DeFi – July 24th

To our DeFi Community,

Your participation is needed now more than ever. As DeFi continues to act as a black hole for ETH, governance will continue to play an increasingly important role in the expansion and sustainability of open finance. With over $1B in new liquidity fueling Ethereum’s hottest sector in the past 7 days alone, it’s impossible to ignore the rapid innovation taking form right before our eyes.

Best exemplified by yEarn and the release of its zero pre-mine, no initial offering governance token – YFI – the DeFi community is driving yEarn into one of the most active conversations around decentralized governance the sector has seen to date. Whether it be the vote to extend YFI liquidity mining incentives, distribute minting capabilities to trusted community members, or amendments to the governance process, the yEarn governance forum has 100k views in under a week of being live.

This discussion is complemented by prominent projects like Balancer debuting their first BAL votes, effectively amending liquidity mining to favor BAL liquidity, lower penalties on high fee pools, and add a small penalty to soft-pegged pools to incentivize useful liquidity. DeFi’s leading insurance platform, Nexus Mutual, also underwent a significant change to its Minimum Capital Requirement (MCR) increment, essentially sacrificing short term price appreciation for NXM in favor of long-term scaling to expand its cover capacity for DeFi users. Even mStable, the new kid on the block, immediately responded to community concerns about investor vesting with extended lockups and complete transparency about MTA emissions in the coming months.

Tying it all together, it’s clear that projects are finally taking governance seriously, and this trend is one that is only going to grow in the coming months. With Aave foreshadowing its new Aavenomics, tokenholders will be directly responsible for curating protocol incentives regarding both safety and economic rewards. KyberDAO’s first vote looks to modify it’s 0.2% fee allocation and Compound is undergoing a vote to upgrade the cDAI interest model.

This has lead to many DeFi Twitter accounts contributing to the conversation in the form of extended governance commentary – a significant upgrade from 2017 chatter of “number go up” and “when Binance”.  All and all, DeFi has paved a foundation for users to create what Jesse Walden’s new fund Variant coined as the Ownership Economy.

In pursuit of a more equitable and innovative internet, I’m launching something new 🚀
@VariantFund is early-stage venture capital for crypto networks and founders building The Ownership Economy.

Whats that? I explain here:

Thread 👇

— Jesse Walden (@jessewldn) July 14, 2020

If you’ve yet to take a look at what’s going on under the hood, you’d be pleasantly surprised by the number of constructive governance discussions happening each and every day. To that, DeFi’s parabolic growth is set to proliferate throughout the rest of 2020 and beyond.

In the meantime, you can read about it all right here on DeFi Rate.


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Top Stories

yEarn Release YFI Governance Token

Liquidity aggregator yEarn has taken DeFi by storm with the release of its native governance YFI which can only be earned through liquidity mining.

Zerion Debuts DeFi Asset Management Upgrade

Zerion releases an overhaul of its non-custodial DeFi asset management platform to easily keep tabs on your portfolio across web & mobile.

Balancer Launches BAL Voting for Liquidity Mining

Balancer debuted it’s first BAL votes to introduce a balFactor, changed feeFactors and a soft-peg penalty for BAL liquidity mining.

KeeperDAO Launches Pooled Liquiditations & Arbitrage

KeeperDAO debuts v1 of it’s pooled platform for anyone to easily capture arbitrage and liquidation profits in a permissionless fashion.

Aragon Launches ANT Liquidity Rewards

Aragon debuts ANT incentives for Uniswap v2 liquidity in tandem with a native LP dashboard.



In Other News…

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