DeFiNews

DeFi (Week 25, 20/06/2022 – 26/06/2022) | crypto.com

Solend users vote to limit a whale to avoid major liquidation. USDC tops USDT in the daily number of transactions but not in volume. Bancor pauses impermanent loss protection.

Key Takeaways 

  • Solend users, a Solana (SOL)-based DeFi platform, voted to limit the platform’s largest whale account to avoid a major liquidation event.
  • USDC surpassed USDT‘s daily transactions on Ethereum (ETH). However, USDT maintained a significantly greater trading volume of US$55 billion against USDC‘s US$5.7 billion.
  • Bancor (BNT) protocol paused its impermanent loss protection mechanism citing adverse market conditions.
  • This week’s price index was positive at +31.68%, while the volume and volatility indices were negative at -0.11% and -32.47%, respectively.

Highlights

  • Celsius (CEL) recovery plan proposed amid community-led short-squeeze attempt
  • Goldman Sachs leading investor group to buy Celsius assets: Sources
  • Nexo threatens legal action against anonymous Twitter account
  • Lido DAO (LDO) begins voting on whether to limit its Ethereum staking dominance
  • Curve staking platform Convex suffers DNS hijacking
  • Crypto broker Voyager lowers daily withdrawal limits from $25K to $10K
  • Tether launches stablecoin pegged to the British Pound Sterling
  • Tether (USDT) to undertake full audit by top 12 firm for transparency over USDT reserves
  • MakerDAO pauses AAVE lending activities
  • Uniswap (UNI) tops Ethereum in terms of daily fees
  • DeFi moves into real estate with Tower Fund and Teller Protocol partnership

DeFi (Week 25, 20/06/2022 – 26/06/2022) | crypto.com 3 Check the latest prices on Crypto.com/Price

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