Welcome to CryptoWhisper.com weekly round-up for DeFi in week 08-May-2022.
I am using a social listening tool called BrandMention.com to round up top DeFi updates posts of the week.
In this round-up, I am using “defi” as the keyword for this research from 01-April-22 to 08-May-22. With the analysis of 14,415 mentions around the webs, Twitter, Facebook, YouTube, Instagram, Pinterest, LinkedIn, Reddit, and Quora, the roundup below is arranged based on the number of reach measurements from BrandMention.com and the relevance of the content.
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All ten of the top DeFi protocols have seen significant 30-day TVL percentage declines
All ten of the top defi protocols, except for Anchor, have seen significant 30-day TVL percentage declines. Curve Finance is down 11.74%, Lido has lost 13.73%, Makerdao shed 16.81%, and Convex Finance has lost 10.59% since last month.
The biggest loser during the last 30 days is the Aave Protocol which lost 21.98% since last month. Curve Finance is the leading defi protocol as it dominates by 9.56% with today’s TVL of around $18.8 billion.
Data further shows that dex trade volume dropped during the month of April. In March dex volume was around $117 billion and statistics show that April’s dex trade volume was only around $92.18 billion.
The tweet from Bitcoin News has garnered 2,217,595 social media reach.
Anchor Protocol’s earn rate adjusted downward for the first time
Since the governance vote passed, the first semi-dynamic adjustment took place at the start of May, and depositors today are getting roughly around 18% APY. Since the change took place, the earn rate can increase or decrease per period to 1.5% depending on the increase and decreases in yield reserves.
With the current 18% APY, the change means this month, depositors will be getting less than they used to get prior to the adjustment change. Furthermore, in June the earn rate could very well change again depending on the protocol’s yield reserves.
Anchor Protocol now supports two blockchains, as Avalanche support was recently implemented. While $16.27 billion stems from Terra-based tokens, $202.48 million worth of Anchor’s TVL is comprised of Avalanche-based tokens. Currently, there’s $2.9 billion that’s been borrowed from the Anchor Protocol in defi loans.
This tweet from Bitcoin News has garnered 2,217,595 social media reach.
Blockchain and DeFi begin to merge with the financial markets
In mid-February 2020, the total value locked within decentralized finance (DeFi) applications first exceeded $1 billion. Fueled by the DeFi summer of 2020, it wouldn’t even take a year before it multiplied 20-fold to reach $20 billion and only another ten months to reach $200 billion. Given the pace of growth so far, it doesn’t seem outlandish to imagine the DeFi markets hitting a trillion dollars within another year or two.
Now that crypto is becoming a recognized global financial asset, it’s only a matter of time before the boundaries begin to blur with blockchain and DeFi. This is likely to move in two directions. Firstly, by bringing the liquidity from the established global financial system on-chain, and secondly, by the adoption of crypto-related decentralized financial products by institutions.
Several crypto projects have now launched institutional-grade products, and more are in the pipeline. There’s already a MetaMask Institutional wallet, while Aave and Alkemi operate Know Your Customer (KYC) pools for institutions.
On the other side, Sam Bankman-Fried is flying the flag for bringing the financial system on-chain. In March, he spoke at the Futures Industry Association in Florida, proposing to U.S. regulators that risk management in financial markets could be automated using practices developed for the crypto markets. The tone of the FT piece covering the story is telling – far from the dismissive, even scornful attitude that the traditional financial press used to have toward crypto and blockchain, it’s now loaded with intrigue.
This tweet from Cointelegraph has garnered 1,528,841 social media reach.
Sam Bankman-Fried and Matt Levine on How to Make Money in Crypto
The price of major cryptocurrencies like Bitcoin and Ethereum have been moving sideways for awhile. But it doesn’t seem like there’s any slowdown in terms of money entering the space. Every day, some new fund is being launched or some legacy financial institution is diving into it. But what’s all this money going to do? On this episode they speak with Sam Bankman-Fried, the CEO and co-founder of FTX, as well as Bloomberg Opinion columnist, Matt Levine, the money making opportunities that people are exploiting, whether it’s directional bets on coins or yield farming or arbitrage, and how much potential profit there is for the taking.
This Tweet from Bloomberg Crypto has garnered 789,802 social media reach
Total value locked in DeFi has dropped below $200 billion USD
A simple twett from Watcher.Guru has garnered 468,139 social media reach.