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DeFi Weekly Report | MakerDAO Multi-Chain Strategy, Uniswap V3 Liquidity Mining, and Arbitrum Deployment

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DeFi Weekly Report | MakerDAO Multi-Chain Strategy, Uniswap V3 Liquidity Mining, and Arbitrum Deployment

Dear DeFi enthusiasts,

If you are an investor who uses your own funds to invest in cryptocurrencies, I would suggest reducing the time you spend worrying about coin prices. After reading through this week's weekly report, you will have your own answer to whether the bull market is coming to an end.

This week's headlines include: Google Cloud's data analysis engine BigQuery integrates with the Ethereum layer 2 scaling solution Polygon network; MakerDAO releases a multi-chain strategy and roadmap, laying out plans for a multi-chain environment and scaling solutions; Uniswap V3 will allow other projects to offer liquidity incentives; Uniswap V3 may be deployed on the Ethereum scaling network Arbitrum, and more.

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Highlighted viewpoints from industry experts this week include: Why does EthHub co-founder Eric Conner question why people always compare each cycle to the last one? What did Binance founder Changpeng Zhao discover from the charts of CoinMarketCap and Bloomberg viewing counts? And why is Yearn developer banteg not worried at all about the phenomenon that all DeFi code is open source?

1. Headlines of the Week

MakerDAO Releases Multi-Chain Strategy and Roadmap, Expanding into Multi-Chain Environment and Scaling Solutions

MakerDAO, the leading lending protocol on Ethereum, has released a strategic roadmap, revealing its expansion strategy into a multi-chain environment. Apart from interacting with the extensive community and collecting feedback, MakerDAO's key focus is to acknowledge the reality of multi-chain existence and maintain its position as a leader in decentralized stablecoins.

Uniswap V3 to Allow Other Projects to Provide Liquidity Incentives

Hayden Adams, the founder of Uniswap, announced at the Consensus summit that in recent weeks, Uniswap's incentive programs have been awarded to those building liquidity mining smart contracts. "Building liquidity mining smart contracts refers to projects that can offer liquidity incentives on Uniswap V3. This is different from UNI's liquidity mining program, which should be decided by the Uniswap community governance," he stated.

Uniswap V3 May Deploy on Ethereum Scaling Solution Arbitrum

A community vote to deploy Uniswap V3 on the Ethereum scaling solution Arbitrum has been approved. Hayden Adams, the founder of Uniswap, mentioned, "If the vote passes, V3 smart contracts will be deployed on Arbitrum, and integration and deployment plans have already begun. Deploying Uniswap V3 on a Layer 2 solution will accelerate transaction speed and reduce transaction costs."

Google Cloud Data Analysis Engine BigQuery Integrates Ethereum Layer 2 Polygon

Google Cloud's data analysis engine BigQuery integrates with Ethereum Layer 2 sidechain Polygon network (MATIC). The integration of Google BigQuery and Polygon enables developers to access and analyze on-chain data on Polygon, including monitoring gas fees and smart contracts, in a more straightforward manner.

BSC Ecosystem Witnessed 7 Flash Loan Attacks in May, Estimated Total Loss Exceeding $100 Million

"Flash loans" are a special feature provided by lending protocols where the core principle is that "borrowing" and "repayment" must be completed within a single transaction to achieve uncollateralized borrowing. While originally intended as a tool for investors as a form of risk-free arbitrage, it has also frequently become a tool for hackers to launch attacks. In May this year, the BSC DeFi ecosystem experienced at least 7 flash loan attack incidents, with the total estimated losses exceeding $100 million.

🚀 DeFi Protocols

🖼NFT

⛓Blockchain

🏛 Exchanges, Regulation, Institutions

2. Insights from Industry Leaders

Eric Conner, Co-founder of Eth Hub: I don't understand why people always compare each cycle to the previous one.

Zhao Changpeng, Founder of Binance: Cryptocurrency is growing.

banteg, Ethereum Developer: Everything is open-source, the point is you can't fork months of accumulated knowledge.

3. Data Indicators

Data for this week is sourced from: DeFi Pulse as of 5/31/2021.

Overview of DeFi Market Data

Top Ten TVL DeFi Projects

4. Weekly Coin Picks

Uniswap UNI: Uniswap V3 has quickly become the largest project in the entire Ethereum DeFi trading volume within a few weeks, surpassing... Uniswap V2! With the community vote results this week, it is expected that in the near future, we will see Uniswap V3 operating on Layer 2 project Arbitrum without the burden of high Gas Fees, attracting many traders and liquidity providers.

Polygon MATIC: We introduced the potential of MATIC a few weeks ago, but it has exceeded everyone's expectations rapidly. Not only did it become the most resilient DeFi token during this recent downturn, but from this week's news, it's evident that it is continuing to expand its influence. It has partnered with Google Cloud Data Analysis Engine BigQuery, integrated with Lazy.com with Mark Cuban's support, and collaborated with renowned cross-chain project RenVM to support non-Ethereum chain assets like Bitcoin.

5. Weekly Memes