The largest DeFi protocols are now billion dollar projects. YFI, UMA, and Aave all sit right around $1 billion dollars in market cap value.

Not only that but several DeFi protocols have over $1 billion locked up in smart contracts.

These valuations and TVL looks great but how do we know these protocols aren’t just fueled by speculation and hype? A lot of research has been done over the past couple years on how to value these blockchain projects and now there are protocols that generate cash flows. Here are some DeFi Price-to-Sales Multiples.

Market Update (Monday 8:30 AM EST)

Percent Change (Rounded) Based on Last Monday Open (8:30 AM EST)

Bitcoin- $11,756 (No Change)

Ether- $437 (+8%)

Gold- $1,965 (+2%)

DJI Average- 28,642 (+2%)

NYSE Composite Index- 13,134 (+2%)

NASDAQ Composite Index- 11,718 (+3%)

S&P500 Index- 3,509 (+3%)

New Developments

1. ConsenSys acquires JP Morgan’s Qruorum Blockchain, CoinDesk

2. FOAM 2020 Summer Updates, Foam Blog

3. Decentralized Ethereum Exchange Uniswap introduces Token Lists, Uniswap

4. The SushiSwap Project, a spin-off of Uniswap with Liquidity Mining Token

5. v2 USDC Upgrade to advance usability and security, Centre

Industry Insights

• Ethereum Is a Dark Forest, Dan Robinson

• How DeFi redefined a “Fair Launch”, Deribit Insights

• Framework Labs (Chainlink and Synthetix Investors) closed $8M Series A, Forbes

• Tether is doing more daily volume than PayPal, CoinMetrics

  John Paul Koning @jp_koning Tether is now doing $3.55 billion in daily transfer value: coinmetrics.substack.com/p/coin-metrics…via @coinmetrics Not bad. In Q2 2020, @PayPal did just $2.94 billion per day:investor.paypal-corp.com/static-files/e…

  August 25th 2020

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For Developers

1. Apply to be a Cosmos Community Contributor (Dev/Community/Media)

2. ETH2 specs, Github

3. USDC v2 contracts for testing, Github

4. Internal MakerDAO Hackathon Winners, MakerDAO Blog

5. Create art using xDAI chain and scaffold-eth, Austin Griffith

6. Smart Contract Decimal Math to Prevent Yam-like bugs, Alberto Cuesta Cañada

Blockchain Activity

Create a smart contract to pay out multiple addresses all in the same transaction:

*Tools: Metamask, Remix IDE, Ethereum

# set pragma

pragma solidity ^0.5.0;

# import library

import "github.com/OpenZeppelin/openzeppelin-contracts/blob/release-v2.5.0/contracts/math/SafeMath.sol";

# contract

contract CrowdsaleGiveBack {
    using SafeMath for uint;
    address payable person_one;
    address payable person_two;
    address payable person_three;
    address payable person_four;
    address payable person_five;
    address payable person_six;
    address payable person_seven;
    address payable person_eight;
    address payable person_nine;
    address payable person_ten;
    uint send_amount;
    //constructor
    constructor(address payable _one, address payable _two, address payable _three, 
        address payable _four, address payable _five, address payable _six,
        address payable _seven, address payable _eight, address payable _nine,
        address payable _ten) public {
            person_one = _one;
            person_two = _two;
            person_three = _three;
            person_four = _four;
            person_five = _five;
            person_six = _six;
            person_seven = _seven;
            person_eight = _eight;
            person_nine = _nine;
            person_ten = _ten;
    }
    function balance() public view returns(uint) {
        return address(this).balance;
    }
    function deposit() public payable {
        uint tmp_amt = msg.value;
        uint amount = tmp_amt.div(10);
        person_one.transfer(amount);
        person_two.transfer(amount);
        person_three.transfer(amount);
        person_four.transfer(amount);
        person_five.transfer(amount);
        person_six.transfer(amount);
        person_seven.transfer(amount);
        person_eight.transfer(amount);
        person_nine.transfer(amount);
        person_ten.transfer(amount);
        uint remainder = tmp_amt.sub(amount);
        remainder = remainder.mul(10);
        msg.sender.call.value(remainder);
    }
    function() external payable {
        deposit();
    }
}

Earn Opportunity

One of the best ways to earn cryptocurrency right now is using DeFi products such as Compound.finance and MakerDAO to lend out cryptocurrency for interest in return. DeFi isn’t as “safe” as lending out dollars in a savings account so therefor there is a better return for doing something similar. One of the easiest ways to take advantage of the current landscape is by using Ether as collateral to open a MakerDAO Vault. This vault will allow the user to borrow/generate DAI (USD stablecoin) which can then be used to lend out on an application like compound.finance. MakerDAO offers 0% interest loans currently, so anything a user can return on compound is a net positive. However there are on-chain gas transactions to take into account as well. Here is a great step by step tutorial on creating a MakerDAO Vault.