41d19434 6817 4651 944b 89c83221faa3 880x495

🏎 MakerDAO Releases Speedy DAI Transfers and Tightens Controls on Vaults

NFT Roundup
Defiant Video
DeFi Explainers
Trending in The Defiant

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DeFi Lending

🏎 MakerDAO Releases Speedy DAI Transfers and Tightens Controls on Vaults

DeFi Lender Unaffected by FTX Yet Takes Steps to Fend Off Potential Contagion

By Samuel Haig

MakerDAO Releases Speedy DAI Transfers and Tightens Controls on Vaults

TRANSFER MakerDAO, the No. 1 DeFi platform with more than $8B in total value locked, now allows users to transfer its DAI stablecoin between Ethereum’s mainnet and Layer 2 networks, the protocol announced on Wednesday.

TWO CHAINS Dubbed Maker Teleport, the service supports leading Layer 2s Arbitrum and Optimism, enabling near-instant transfers between the two chains and fast withdrawals back to the Ethereum mainnet.


FTX Crisis: Contagion

🛑 Genesis Halts Withdrawals At Lending Business

Users Of Gemini Earn Unable to Withdraw Assets as FTX Contagion Spreads

By Aleksandar Gilbert

Genesis Halts Withdrawals At Lending Business

TURMOIL Genesis Global Capital, the lending arm of leading digital asset brokerage Genesis Trading, announced Wednesday that it has halted withdrawals and new loans due to “unprecedented market turmoil” created by FTX’s collapse. 


Sponsored Post

Liquity’s Chicken Bonds enhanced yield with DeFi Saver

DeFi Saver is an all-in-one dashboard for creating, managing and tracking positions with automatic liquidation protection and leverage management options for only the most trusted DeFi protocols, Liquity among them.

Liquity, interest-free borrowing protocol built on Ethereum, recently introduced a novel product offering The Defiant wrote about – Chicken Bonds. Chicken Bonds are a new, innovative form of bonding mechanism in DeFi.

Chicken Bonds are an innovative bonding mechanism offering several key benefits to those willing to bond their Liquity native stablecoin LUSD. In exchange for depositing and bonding LUSD, users accrue boosted LUSD (bLUSD), derivative token.

Primary benefit for bonding LUSD instead of supplying to Liquity’s Stability Pool is the amplified yield users get from Liquity’s internal liquidation mechanism as well as from other liquidity sources like the pools in Curve. Alongside improved liquidity for the LUSD stablecoin, the most important benefit to users is bonding with no time commitment or maturity. Users can withdraw principal LUSD fully and chicken out at any time, renouncing the accrued interest. The other option being to chicken in and claim accrued bLUSD, forgoing the initial LUSD deposit.

As the most comprehensive decentralized frontend for Liquity, DeFi Savercontinues its devoted support with dedicated Chicken Bonds dashboard and advanced protocol actions and strategies. Alongside basic actions, DeFi Saver offers users options to Claim and Sell bLUSD or Rebond (Claim, Sell and create new bond). DeFi Saver team is even preparing automation options for the new Liquity innovation.

Get the most out of your Liquity experience with DeFi Saver. 

Crypto Regulation

🏛 Congressional Hearing on FTX to Cast Spotlight on Crypto’s Annus Horribilis

House Financial Services Committee to Call SBF to Testify on Exchange’s Failure and Practices

By Samuel Haig

Congressional Hearing on FTX to Cast Spotlight on Crypto’s Annus Horribilis

HEARING In a year when regulators and lawmakers were bearing down on cryptocurrencies, the FTX disaster was the last thing the industry needed. And now, the U.S. House Financial Services Committee plans to hold a hearing in December on the failure of the No. 2 crypto exchange.


NFT Roundup

🧑🏻‍⚖️ SuperRare Auctions NFT Subscription Passes For More Than $4M

Magic Eden Raises ‘Fair Mint’ Mechanism in Busy Week for NFTs

By yyctrader

SuperRare Auctions NFT Subscription Passes For More Than $4M

COLLECTORS SuperRare, an Ethereum-based NFT marketplace that generated over $250M in sales, is experimenting with a new way for serious collectors to acquire pieces from leading artists in the NFT space.

PRICE On Nov. 16, a collection of 250 Genesis RarePasses was sold through a Dutch Auction that started at 138 ETH ($166,000) after RarePass #1 was purchased at that price.


Defiant Video

📺 DeFi Wins From FTX Collapse (kind of)

Podcast Video

📺🎙 Podcast: Robinhood is coming after MetaMask with Polygon Web3 Wallets

DeFi Explainers

🤔 What is Polygon zkEVM?

A Step-by-Step Guide to One of Ethereum’s Key Scaling Solutions

By Rahul Nambiampurath

What is Polygon zkEVM?

SCALABILITY Polygon has become a Swiss Army-knife for fixing Ethereum’s scalability problems. One of the latest methods Polygon uses to make Ethereum’s ecosystem faster and more efficient is zkEVM, the zero-knowledge Ethereum Virtual Machine. 


Trending in The Defiant
  • Crypto Users Jump to DeFi Platforms in Wake of FTX’s CeFi CrashDon’t look now, but the FTX collapse has spurred a wave of interest in decentralized finance platforms. DeFi protocols are experiencing double digit increases in the number of users over the past week, according to data from Nansen, the blockchain analytics platform. 
  • CZ Strives to Show Binance is Different From FTX Just like FTX, Binance maintains billions of dollars worth of its own tokens on its balance sheet. So is the globe’s No. 1 cryptocurrency exchange vulnerable to the same type of bank run that poleaxed Sam Bankman-Fried’s exchange last week? 
  • Unsecured DeFi Lenders Look Shaky in Face of FTX Contagion The fallout from FTX’s collapse is just starting and within decentralized finance, platforms enabling unsecured loans are the most exposed relative to collateralized counterparts with millions in loans on the line, while total value locked slides.


🔗 House Committee Calls on SBF, Binance to Testify on FTX Collapse: Decrypt

The House Financial Services Committee will next month hear from Sam Bankman-Fried on the collapse of his crypto empire, lawmakers announced today. 

🔗 FTX’s former CEO claims crypto exchange is still solvent: The Guardian

Sam Bankman-Fried, the former chief executive of the collapsed crypto exchange FTX, has claimed the company he founded is still solvent, even as its new boss, who oversaw the final days of Enron, begins the formal bankruptcy process.

Maker @MakerDAO

Overcollateralization in DeFi. Always traceable, block by block. → makerburn.com/#/rundown


3:28 PM ∙ Nov 16, 2022


🧑‍💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.

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