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🔦 CZ Strives to Show Binance is Different From FTX

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DeFi Explainers
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⍺ DeFi Alpha Newsletter

DeFi Alpha is a weekly newsletter by The Defiant and DeFi Dad, packed with tutorials and tips on how to earn yield in DeFi. DeFi Alpha is exclusive to paid subscribers.

This Week: 

⍺ DeFi Alpha: Using the Shardeum Testnet for a Potential SHM -0.06%↓ Airdrop

A word from our wonderful sponsors, who make this newsletter possible: 

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DeFi should be better – and it’s about to get radically better with Radix. Get your free ticket to join RadFi2022 on December 8 and learn what the future holds for decentralized finance. Find out how!

Metis Andromeda is a permissionless & secure Ethereum Smart Layer 2 creating the decentralized finance foundations for the web3 economy. Bridge Free & explore our ecosystem during our first anniversary!

Chainalysis, the leading blockchain data platform. Download your copy of the 2022 Geography of Cryptocurrency report to access original research on crypto adoption around the world. Download today!

Binance Flex

🔦 CZ Strives to Show Binance is Different From FTX

Binance Begins Disclosing Wallet Assets in Transparency Push

By Samuel Haig

CZ Strives to Show Binance is Different From FTX

VULNERABLE 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? 

QUESTION That’s a pertinent question as Binance, which does $14B in daily trading volume, leans into playing the role of savior at a perilous moment for digital assets. 


DeFi Migration

📈 Crypto Users Jump to DeFi Platforms in Wake of FTX’s CeFi Crash

Nansen Data Show Double-Digit Jumps in Users at MakerDAO, Aave, and Other Protocols

By Owen Fernau

Crypto Users Jump to DeFi Platforms in Wake of FTX’s CeFi Crash

DOUBLE-DIGIT JUMPS Don’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. 


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. 

TradFi + DeFi

🧪 As Skeptics Dance on Crypto’s Grave the Fed and Big Banks Launch Digital Ledger Project

Citigroup, Wells Fargo, and MasterCard Test DLT to Connect Deposits

By yyctrader

As Skeptics Dance on Crypto’s Grave the Fed and Big Banks Launch Digital Ledger Project

TEST Even as the crypto industry grapples with a year-long bear market and the collapse of FTX, global financial institutions just can’t say no to blockchain-related technology. On Tuesday, a lineup of top-shelf firms — Citigroup, HSBC, Wells Fargo, and MasterCard, among others — joined forces with the Federal Reserve Bank of New York to explore using distributed ledgers to connect deposits. 


Layer 2s

💰 Layer 2s Defy Market Angst as Matter Labs Raises $200M

Zero-Knowledge Powered Rollup Garnering Momentum in Race to Scale Ethereum

By Samuel Haig

Layer 2s Defy Market Angst as Matter Labs Raises $200M

SERIES C In a sign of momentum for Layer 2s, Matter Labs, the team behind the nascent zkSync 2.0 network, raised $200M in a Series C round led by Blockchain Capital and Dragonfly, the venture announced on Nov. 16.


Crypto Payments

🤳🏽 Businesses Can Now Accept USDC With Apple Pay

Circle’s Move Comes as Stablecoin Has Been Losing Market Share

By Tarang Khaitan

Businesses Can Now Accept USDC With Apple Pay

FEATURE Circle, the issuer of the dollar-pegged USDC stablecoin, hasunveiled an integration with Apple Pay, the payment service with over half a billion users around the globe. Merchants will be able to accept USDC as payment using this new feature.



💪🏼 Let’s Revamp Tokenomics to Make DeFi More Useful and Valuable

It’s Imperative to Provide Real Value to Tokenholders, Not Just Governance Tools

Guest writer Mike Sall argues that it’s time for tokenomics to get real and prove it’s utility…

Let’s Revamp Tokenomics to Make DeFi More Useful and Valuable

VALUE In the midst of a harsh bear market, crypto investors are asking tough questions: “What actually drives value to this token, and why would I want to own this?” 

COMMUNITY I see it first-hand when people ask the same things about Goldfinch, the protocol I helped launch in 2021. The market downturn is forcing the crypto community to become much more discerning.


Defiant Video

📺 FTX Collapse: Mapping The Contagion

Podcast Video

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


BNB Chain is coming to NYC on Dec.3 and is calling for web3 start-ups to join and pitch their innovative ideas to our investors. Please fill out the short application!

DeFi Explainers

🤔 What is a DEX Aggregator?

A Step-by-Step Guide to This Important Swaps Tool

By Rahul Nambiampurath

What is a DEX Aggregator?

SWAPS When Uniswap popularized decentralized exchanges on the Ethereum network, it was a ground-breaking development. DEXs permissionlessly enable users to become liquidity providers for token pair swaps.


Trending in The Defiant


🔗 The Path Forward with Ryan & David: Bankless

This is the craziest moment we’ve experienced in crypto. So many things to unpack. But the biggest question remains… where do we go from here?

🔗 Proof of Reserves: Could it Have Prevented the FTX Meltdown?: CoinDesk

Crypto exchanges can go bust when they do not have the funds to fulfill customer withdrawals.

🧑‍💻 ✍️ 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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