DeFi Bulletin: Aave has rebranded, and the founders of Opyn have left the industry
The decentralized finance (DeFi) sector continues to attract increased attention from cryptocurrency investors. ForkLog has collected the most important events and news of recent weeks in a digest.
Key indicators of the DeFi segment
The volume of blocked funds (TVL) in DeFi protocols increased to $45.3 billion. Lido remained the leader with an indicator of $17.48 billion, and Maker ($8 billion) and JustLend ($5.87 billion) held the second and third lines of the rating, respectively.
Data: DeFi Llama.
TVL in Ethereum applications has grown to $24.55 billion. The volume of trading on decentralized exchanges (DEX) over the past 30 days amounted to $69.2 billion.
Uniswap continues to dominate the market of non—custodial exchanges - it accounts for 63.1% of the total turnover for 7 days. The second DEX in terms of trading volume is PancakeSwap (14.1%), the third is Curve (3.85%).
Aave Companies has rebranded and bought the Family wallet developer
The Aave Companies team behind the development of the Aave platform has rebranded, changing its name to Avara.
According to the report, Avara will become the parent organization for Aave, Lens, GHO stablecoin, Sonar and other brands.
The head of the project, Stani Kulechov, explained that the team will continue to innovate in DeFi and create tools for developers, "while simultaneously offering new, intuitive and attractive products" for a wider user base.
According to him, the Aave protocol will continue to work under the same trademark through Aave Labs.
In addition to the rebranding, Avara announced the acquisition of the wallet developer Family — Los Feliz Engineering. Its founder Benji Taylor will join the team as Senior vice president of Products and Design.
At the beginning of the month, the Aave team had to suspend some operations in the protocol after the vulnerability was discovered. The incident did not affect user funds.
1inch Network has launched a "portfolio tracking" service
The 1inch Network, a liquidity aggregator from decentralized exchanges, presented the 1inch Portfolio solution for tracking positions in various crypto assets by users.
1/ ???? #Crypto tracking got too complicated?
Meet the ???? #1inchPortfolio – a super-tool that displays all your wallets on one screen.
✅ Dive in at https://t.co/H4s7vUZhhu and see how easy life can be when everything's under one digital roof!#1inch #DeFi pic.twitter.com/kXWRe2kq41
According to the statement, the tool provides portfolio data and detailed analytics on one screen. Users without having to resort to multiple applications receive information about crypto assets stored in different wallets and pools in several networks.
Sushi will test its own Bitcoin DeFi swaps
DEX Sushi has announced a partnership with the interoperability-oriented ZetaChain platform. It is assumed that the integration will allow exchange users to exchange their bitcoins in 30 networks.
ZetaChain works as a first-level blockchain and a platform for developers. The protocol provides the possibility of "economical, efficient and secure" cross-chain transactions thanks to the support of Omnichain smart contracts.
One of the features of ZetaChain is the support of the ZRC-20 standard. The solution is essentially an extended version of ERC-20, allowing for the input/output of various assets through many interconnected networks.
LidoDAO has launched the official version of wstETH on Base
The decentralized autonomous organization (DAO) Lido has approved the deployment of a derivative token of liquid staking Wrapped Staked Ether (wstETH) in the Base network.
Lido is on @BuildOnBase ????
You can now bridge your staked ETH to Base. https://t.co/JmmFeVwNnN pic.twitter.com/R9vN2XGs2g
In October, Kyberswap and Beefy Finance jointly launched an unofficial version of wstETH on the Coinbase-supported blockchain. The teams offered LidoDAO to take over the management and ownership of the asset.
The community approved the decision, giving 597 million votes for it, 255 million opposed
The founders of the Opyn DeFi project have left the crypto industry
The founders of the Opyn DeFi company Zubin Koticha and Alexis Gauba decided to leave the crypto industry after the regulatory measures taken by the CFTC to the project.
In September, the regulator fined Opyn $250,000 for unregistered derivatives trading and operating without a license as a trading platform.
According to Kotich, he and his partner joined the industry in 2017.
"For the last six years we have been working on incredible things that would never have been possible at TradFi — innovations in the field of structured products and derivatives. We thought that we would be engaged in cryptocurrency for the rest of our lives. But, unfortunately and unexpectedly, this is the end of the road," he wrote.
The project will continue to work, and the head of the research department, Andrew Keone, will take the post of CEO instead of Kotich at Opyn.
Also on ForkLog:
dYdX Chain was launched for beta testing in 33 markets.
Jupiter DEX aggregator will distribute airdrop among 955,000 Solana wallets.
Experts noted the growth of centralization in the DeFi sector.
PancakeSwap has launched a gaming marketplace.