【Dapp Pocket】DeFi Weekly Report - Fourth Week of April
Weekly Summary
After the hacker attack on dForce last week with approximately $25 million, this week the hacker dramatically returned all assets, raising more concerns in the DeFi community about risk management. Platforms like Opyn, a risk management platform, have gained more attention as a result. On another front, Coinbase announced its own oracle; Dharma and Dapp Pocket also launched new services, with the former opening up a payment feature mediated by Twitter, and the latter introducing a new DeFi asset management interface. EthereumPrice.org also launched an Eth2 staking calculator over the weekend, allowing users to estimate their future staking rewards.
This week's notable viewpoints include excerpts from the CEO of OKEx and the CMO of SmartContract.com on their views regarding China's digital currency DCEP, a reminder from Ryan to beware of crypto banks, and insights from a Tezos director on the construction of DeFi security. This week's expert visit features discussions with Wilson Huang, the founder of Steaker, and VP of Secret Silver, on cryptocurrency market investment services and challenges and prospects in the blockchain social field. Our perspective will cover thoughts on DeFi risk management and insurance products, as well as the development of stablecoins in the West like Libra and Celo, compared with China's DCEP, exploring their differences and similarities and their relationship with DeFi.
DeFi (Decentralized Finance) refers to decentralized financial services. Simply put, it provides financial services in a decentralized manner, addressing issues such as slow transaction speeds, high costs, vulnerability to hacker attacks, and potential misuse by governments or organizations in traditional finance. The current DeFi ecosystem offers interest-bearing lending, asset shorting, high leverage trading, and unique flash loan services.
Advertisement - Scroll down for more content
Table of Contents
Author Introduction
- Raizel / Economics major at NCCU, shifted focus to DeFi after being "stuck" in Bitcoin
- Thomas / DeFi enthusiast in chip design based in Boston
- Anderson / Founder of Dapp Pocket, DeFi deposits > bank deposits
Week Highlights
dForce Escapade: Lessons Learned
For all DeFi enthusiasts, the heart-stopping 53 hours with dForce raised concerns. The security team successfully identified the hacker, leading to asset return after cross-referencing resources. This incident prompts reflection on DeFi risks like smart contract security, lending DeFi risks, and blockchain platform risks.
Source: https://blockcast.it/2020/04/24/6-ways-to-protect-yourself-from-defi-hackers/
Lendf.Me Official Asset Recovery Guide
Opyn Introduces Options Contracts for DeFi Hedging
Token Terminal shared an interview with DeFi insurance protocol Opyn. Opyn, built on Convexity, offers options-based risk management for DeFi, providing users with hedging opportunities. The team aims to offer risk management tools for effective risk control across various crypto assets and platforms.
Source: https://medium.com/token-terminal/opyn-x-token-terminal-interview-with-aparna-krishnan-fcc6f22e414e
Chainlink's Rival? Coinbase to Develop Price Oracle for DeFi
To address DeFi's fragmented and vulnerable ecosystem, Coinbase announced the launch of a new service "Price Oracle" last Friday. This service aims to provide more accurate and resilient price data for DeFi protocols. Coinbase's oracle updates prices every 60 seconds and is secured by the same protection structure as customer crypto assets.
Source: https://www..io/coinbase-emerges-as-a-major-defi-contender-with-price-oracle-launch/
Dapp Pocket Launches New Feature "DeFi Asset Management"
The smart wallet Dapp Pocket introduced a new feature that allows users to view their fund allocations across various DeFi platforms with a single click. Users can also manage their asset allocations on different DeFi platforms with ease. This feature utilizes Zerion's latest DeFi SDK.
Source: medium.com/dapp-pocket
Dharma Introduces USD Payments via Twitter
Last Wednesday, Dharma announced the launch of social payments via Twitter, allowing users to send USD to any Twitter handle. Recipients must log in to Dharma to claim the payment or deposit the funds into Dharma to earn interest. Use cases for this social payment feature include tipping on Twitter and cross-border charitable donations.
Source:
1/ Introducing Social Payments 💸🐦📲 – a Twitter-native financial ecosystem.
Today, you can send USD to any Twitter handle, regardless of where that person lives — even if they don’t have a Dharma account.
Now *every* Twitter handle accepts (and earns interest on!) payments. pic.twitter.com/8sZ8MxxYvO
— Dharma (@Dharma_HQ) April 21, 2020
EthereumPrice.org Releases Eth2.0 Staking Reward Calculator Tool
Last Saturday, EthereumPrice.org released the Eth2.0 staking reward calculator tool, currently in beta testing. This tool calculates the annual ETH rewards and cumulative investment return for staking ETH for 10 years. Users can choose from various fiat currencies to display the value of their staked ETH, including USD, EUR, GBP, JPY, etc. Users can also adjust network settings to calculate rewards.
Source: https://www.chainnews.com/zh-hant/news/576379733051.htm
Other Highlights
- Will USDC be the Next Catalyst for a DeFi Security Incident?
- Global Stablecoin Scale Growth Hits Record High in 2020
- Decentralized Asset Locking Tool Trustless Fund Officially Launched, Currently unaudited
- Media: Chengdu Expected to Announce DC/EP Pilot Around May Day, Initial test merchants Gather Online and Offline for Integrated Consumption
Data Statistics
This week's data covers from 2020/4/22 to 4/28, with price extracted around 7:00 PM. TVL refers to Total Value Locked, indicating the total value of assets stored in the platform, a good indicator of platform size. Data sources include: DeFi Pulse, CoinMarketCap, Maker official website, Compound official website, AAVE official website, etc.
DeFi Lending Platform Scale
DEX Scale
Dai APR
Coin & Token Value
Expert Perspectives
Mythos Founder Ryan Sean Adams: Cryptocurrency's Potential and Regulated Crypto Banks
OKEx CEO Jay Hao: China's DCEP to Change Financial Landscape
SmartContract.com CMO Adelyn Zhou: DCEP's Blockchain Concepts
molly @molllliy
https://t.co/2ewrt8RKwK A deep analysis about DC/EP by our chief Economist Dr.Zou, cover the key characteristics of DC/EP, the design of it,the impacts on Payment , Monetary policy,RMB internationalization. Also the private sector’s opportunities in the development