DeFi Weekly Update | Uniswap V3 Finally Released! Musk Urges Everyone: Do Not Resist DeFi

Uniswap V3 is finally released, and Elon Musk tells everyone: Don’t defy DeFi. Visa announces support for USDC settlement.

Dear DeFi enthusiasts,

After much anticipation, Uniswap V3 has finally arrived! In addition, the NFT craze continues to sweep the world, and our team has been quietly observing. But don't think that DeFi has been overlooked. If anyone is still resisting DeFi, let them see what Elon Musk said this week.

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This week's headlines include: AMM leader Uniswap V3 is about to debut, what impact will it bring?; Asia's first basketball NFT is issued! The "City Hunter Legend" digital player card ignites a collecting investment craze; SushiSwap releases leverage lending product Kashi, supporting leverage lending and other services; Cappuu opens up bank account transfers for users to purchase US dollar stablecoin USDC, and Visa announces acceptance of USDC for payment settlement!

This week's selected viewpoints include: Tesla CEO Elon Musk urges everyone: don’t resist DeFi. How does Uniswap founder Hayden Adams explain that Uniswap V3 is the only way to counter free loss and slippage? And what does Bankless advocate Ryan Adams mean by efficiency?

1. This Week's Highlights

✨ Top News of the Week

Uniswap V3, the Dominant AMM, is Coming - What Impact Will It Have? Prophets Say: Curve is Dead

This week, Uniswap released details of its V3 version. Despite the UNI token price not showing much improvement, the introduction of features such as "custom liquidity" and "limit orders" has impressed the industry. Once the Optimism Layer 2 solution is successfully deployed in the future, transaction fees will be significantly reduced, making Uniswap more accessible to retail investors. Deribit researcher Hasu bluntly stated: "Uniswap V3 has basically dealt a fatal blow to its competitor Curve."

SushiSwap Launches Leveraged Lending Product Kashi, Supports Leveraged Lending Services

Decentralized exchange SushiSwap has launched the leveraged lending product Kashi, which consists of lending Kashi and the vault BentoBox. Kashi allows users to leverage long and short positions with a maximum leverage of 2x. Liquidation of a single trading pair will not affect the liquidation risk of other trading pairs, and the flexible interest rates adjust according to supply and demand. The initial leveraged trading pairs include ETH/WBTC, SUSHI/ETH, among others. Additionally, Kashi V2 is set to be released in a few weeks.

Visa to Accept Ethereum USDC for Settlement

Visa has announced that it will allow transactions on its payment network to be settled using the USD Coin (USDC) stablecoin. Crypto.com's CRO has reportedly collaborated with Visa in a pilot program. Digital bank Anchorage will be responsible for custodying the USDC that Crypto.com will use to pay Visa. This move is expected to lead to increased adoption of USDC by more financial institutions and banks within the traditional financial sector.

Cappuu Enables Users to Purchase USDC with Bank Account Transfers

Cappuu, a DeFi investment app designed for beginners, now allows users to purchase USDC with bank account transfers. By completing KYC verification and linking their bank account, users can transfer funds from their bank account to purchase USDC. The transfer will go directly to the U.S. payment company Circle and takes 1-3 business days to process. Once completed, Cappuu will transfer the USDC to the user's wallet. This feature is currently available for users in Taiwan.

Asia's First Basketball NFT Issued! "Lion City Legends" Digital Player Cards Spark Collectible Investment Craze

Recently, a global investment frenzy around "NFT" digital collectibles has emerged, with Taiwan's P.LEAGUE+ basketball league's Lion City team joining the trend. On the day of the March 27th game, they partnered with ACE Exchange to issue Asia's first basketball NFT, the "Lion City Legends" digital player cards. The first batch of NFT player cards, led by popular players such as "Gao Guohao, Tian Hao, Wu Daihao, Cheng Lihuan, and Xiao Shunyi," is limited to 150 globally, with ordinary cards limited to 1000 globally.

🚀 DeFi Protocols

• Ethereum Scaling Solution Optimism Delays Mainnet Launch, Expected in July

• MEME to Release V2 on April 12, Some Platform Fees to Be Returned to Users

• Decentralized Oracle NEST Protocol Plans to Cultivate Assets, Trading, Lending Protocols

• DODO Launches Raptor Program to Provide Trading Mining Incentives for Popular New Assets, Will List Tidal Finance

• Badger DAO to Collaborate with DefiDollar to Launch Interest-Bearing Bitcoin ibBTC

• Keep3r to Release V2 Oracle Functionality for Higher Gas Efficiency

🔗 Blockchain

• Matter Labs to Launch zkSync 2.0 Public Testnet in May, Mainnet in August

• Filecoin to Integrate Chainlink for Bidirectional Connectivity Between Filecoin Network and Blockchains like Ethereum

• Crypto.com Launches Mainnet Crypto.org Chain

• Solana's First IDO Platform Solstarter to Launch Soon

• Binance's $100M Seed Fund Invests in NFT Trading Platform Juggernaut on BSC

🏛 Exchanges, Regulations, Institutions

• Fidelity Files Bitcoin ETF Registration with the U.S. SEC

• Tesla's U.S. Website Now Supports Bitcoin Payments

2. Insights from Industry Leaders

Tesla CEO Elon Musk: Don't resist DeFi.

Uniswap Founder Hayden Adams: Uniswap V3 is the only way to combat impermanent loss and slippage.

Bankless Advocate Ryan Adams: This is what we call efficiency.

3. Data Indicators

Data as of 2021/3/29. The TVL (Total Value Locked) in Figure 1 indicates how much assets are stored in DeFi platforms; Maker Dominance shows the proportion of the largest projects by market value; and the DeFi Pulse Index is a DeFi weighted index from SetProtocol. Figure 2 displays the current top ten DeFi projects by TVL. Source: DeFi Pulse.

4. Weekly Memes

pic.twitter.com/ODePbd8Ruc

— ETH Memes (@EthereumMemes) March 26, 2021