DEFIPEOPLE

DeFi Weekly Report | Ethereum pushes EIP-1559 to reduce transaction fees, competing public chains emerge one after another

share
DeFi Weekly Report | Ethereum pushes EIP-1559 to reduce transaction fees, competing public chains emerge one after another

This article is authorized to be reprinted from Dapp Pocket. For the original article, please see this link.

Dear DeFi enthusiasts,

The challenges for Ethereum in 2021 are just beginning! Following BNB's strong climb to the third spot in market value, this week, amidst the Cardano hard fork upgrade effect, it surged against the trend to claim the position of the market's third-largest. On the other hand, the DeFi ecosystem generally followed the overall market downturn, only recovering in the last day or two. However, as always, we are focusing on the long-term development of blockchain and DeFi, and remain optimistic despite price fluctuations! For the reasons, please see below.

Advertisement - Continue scrolling for more

This week's headlines include: Ethereum core developers pushing for EIP-1559 to be included in the London hard fork upgrade; Is there a hidden dimension in the AC universe? Yearn founder tweeted multiple times to support Fantom, which has surged over 5000% this year; Web3 privacy product Mask Network completed its first Twitter issuance (ITO) and will airdrop to all participants; AAVE and Balancer jointly create Balancer V2's first asset manager, enhancing protocol asset utilization, and more.

Highlighted perspectives selected for you this week: Why does Vance Spencer, co-founder of Framework Ventures, believe that EIP-1559 will bring Ethereum wealth like a tsunami? What important indicator in the market that few people pay attention to is pointed out by Compound founder Robert Leshner? And why does EthHub founder Anthony Sassano believe that March will be an outstanding month for Ethereum and ETH performance?

Cappuu.com, Exclusive invitation code for the weekly report: DEFIER

1. This Week's Highlights

✨ Top Headlines of the Week

Ethereum Core Developers Forge Ahead with EIP-1559 for London Hard Fork Upgrade Despite Miner Disagreements

Following the Ethereum core developers' meeting, they decided to proceed with the "Berlin Hard Fork" upgrade on April 14th, summarizing five EIP proposals including optimizations for EVM, gas efficiency, and DDoS attack prevention. Subsequently, the "London Hard Fork," notably featuring EIP-1559, initially proposed by Ethereum co-founder Vitalik in 2018, aims to significantly alter the transaction fee calculation method, impacting ETH value capture, user experience, security, and more. This proposal aims to achieve: changing fee structure, altering fee destination, more flexible blocks, and optimizing user experience.

AC Universe Hidden Map? Yearn Founder Tweets in Support of Fantom, Which Has Surged Over 5000% This Year

Fantom, launched in 2018, is an intelligent contract platform based on Directed Acyclic Graph (DAG). As early as 2019, Yearn Finance founder Andre Cronje served as the technical committee chairman at Fantom, and he remains a technical advisor to the project. Following AC's tweet praising Fantom's cross-chain transaction experience as "making users not even realize they are on another chain, with all operations becoming faster and cheaper instantly," the FTM price quadrupled at one point.

Web3 Privacy Product Mask Network Completes First Twitter Issuance and Airdrops to All Participants

Web3 privacy product Mask Network has completed three rounds of its first Twitter issuance (ITO) and token sale on Balancer's liquidity bootstrapping pool (LBP). Additionally, Mask Network has distributed a second round of airdrops to all participants of the ITO, including unsuccessful transactions.

1inch to Deploy on Binance Smart Chain, Launch Liquidity Mining on BSC

DeFi aggregator 1inch announced its plan to deploy on the Binance Smart Chain (BSC), allowing users to access the same functionalities available on the Ethereum network. Currently, the 1inch Foundation has deployed corresponding tokens on BSC totaling 10 million tokens for BSC users.

AAVE and Balancer Collaborate on Balancer V2's First Asset Manager to Enhance Protocol Asset Utilization

One feature of Balancer V2 is the Asset Manager, where liquidity providers (LPs) can authorize the smart contract to utilize idle funds in the liquidity pool (within a safe range) for additional investments to enhance the pool's fund utilization efficiency. AAVE has become the first project to collaborate, enabling Balancer LPs to generate higher liquidity yields through lending on the AAVE platform.

🚀 DeFi Protocols

🔐 DeFi Security

🔗 Blockchain

🏛 Exchanges, Regulation, Institutions

2. Expert Opinions

Framework Ventures Co-founder Vance Spencer: EIP 1559 Will Bring Ethereum Wealth Like a Tsunami

Compound Founder Robert Leshner: Few Realize, This Is Currently the Most Important Metric in the Market

EthHub Founder Anthony Sassano: I Have a Feeling March Will Be an Outstanding Month for Ethereum and ETH Performance

3. Data Indicators

Data as of March 1, 2021. TVL (Total Value Locked) in Figure 1 indicates the amount of assets stored in DeFi platforms; Maker Dominance shows the proportion of the largest project by market value; DeFi Pulse Index is a DeFi weighted index from SetProtocol. Figure 2 displays the current top ten DeFi projects by TVL ranking. Source: DeFi Pulse.

4. Weekly Memes

Author Information

  • Raizel / YouTuber "BrainBro Chill Blockchain" promoting Bitcoin and DeFi

  • Thomas / DeFi enthusiast working in chip design in Boston

  • Anderson / Founder of Dapp Pocket & Cappuu, believes in DeFi deposits > bank deposits

Further Reading

  • 【Dapp Pocket】DeFi Weekly Report: Fourth Week of February: Binance Smart Chain (BSC) Gains Momentum, Ethereum to Undergo Berlin Hard Fork
  • 【Dapp Pocket】DeFi Weekly Report: Third Week of February: Alpha Homora Hacked, Another Red Packet from 1inch

Join Telegram now to get the most accurate blockchain news and cryptocurrency updates!