DefiLlama Round Up - Wednesday June 22th 2022
Credibly neutral coverage of all things DeFi, Ethereum, alt L1, L2, MEV and more
Did you miss these daily highlights in your life? Itās been close to a week since the last iteration of the round-up on substack. Did something happen? Did I stop? Absolutely not, to those who have been subscribed to the Telegram channel and/or visit our Discord have seen the regular daily update of the round-up (yo boy aināt stopping). However as described in the last iteration I was a bit under the weather but Iām back after shitposting my way through Twitter. So if I may have your attention, itās Wednesday June 22th, this is your host llamaintern coming at you live with the top market stories of the last 24h.
Market Update
Total market capitalization is down 2.7% to $940B
$BTC is down 4.2% to $20.486; Market cap is $390B
$ETH is down 6.1% to $1092; Market cap is $132.5B
DeFi TVL is down 0.73% to 72.51B
On Monday market sentiment picked up positively as the overall markets bounced from the lows that formed on Saturday. Several DeFi tokens did well with $SNX and $FXS being some of the outliers of this week. More on that later.
TVL movers brought to you by DefiLlama
Within DeFi, Synthetix has been an outlier with 90% growth in the last 7 days with volumes hitting +600m after integrations with 1inch and Curve. SushiSwap and Bancor on the other hand register double-digit drops in TVL with 40% and 28%. Bancorās recent drop can be traced back to their announcement this week suspending their impermanent loss protection.
Top 10 DeFi protocols by TVL
Top 10 chains by TVL
Top 10 stablecoins by TVL
Top 10 stablecoin yield with single exposure, no IL, audited and min 1 million TVL
Uniswap Labs enter NFT space by acquiring Geniexyz
Itās NFT aggregator acquisition season with another high-profile acquisition as Geniexyz has been acquired by Uniswap. This is the second high-profile acquisition within the NFT aggregation space since the acquisition of Gemxyz by OpenSea in April. With Uniswap being one of the leading AMM for ERC20 tokens, it now expands its product suite to also include NFTs.
Tether to launch GBPT
Tether is set to launch a new stablecoin with the launch of GBPT. The stablecoin is set to be pegged to the British Pound and will join four other fiat-currency pegged tokens Tether has on the market: USDT, EURT, CNHT and MXNT.
FTX extends $250m credit line to lender BlockFi
Zac Prince @BlockFiZac
Today @BlockFi signed a term sheet with @FTX_Official to secure a $250M revolving credit facility providing us with access to capital that further bolsters our balance sheet and platform strength.Another firm caught in the contagion after the recent Terra, Celsius, 3AC events. The agreement will give BlockFi the needed capital after already reducing headcount by ~20% in addition to other cost-cutting measures.
Synthetix ecosystem looking to flip Ethereum in fees
kain.eth (āØš“_š“āØ) @kaiynne
Iām not going to bet we flip Ethereum but this is a pretty ludicrous table. https://t.co/absBhqhdCSAfter a proposal was passed to increase trade speed, the derivatives protocol Synthetix has seen a surge in earnings as fees generated by the protocol and trading volumes soared.
Pirex by Redacted Cartel launches Standard Mode
Pirex is a liquid wrapper that allows for auto-compounding and the tokenisation of future yield/vote events. pxCVX (Pirex vlCVX) is the first Pirex liquid wrapper that allows users to deposit $CVX into Pirex and receive a wrapped version of $vlCVX that can be traded. In short, imagine Convex for Curve but now on top of Convex.
Thatās all for today, wish you guys the best of days and Iāll see you on the next iteration of the round-up. Take care
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