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Someone Made a 1000x Profit on an NFT Artwork

2 Feb 2021 1 minute read 16 comments Abhimanyu Krishnan

An investor in the Hashmasks NFT artwork collection has made a 1000x return on an investment after 3 days, according to data from the OpenSea NFT marketplace as of Feb. 2. Released in Jan. 2021, Hashmasks is an art collection consisting of 16,000 di...

DEX Trading Volume in Jan. Hits ATH of $56B

2 Feb 2021 1 minute read 3 comments Abhimanyu Krishnan

Trading on decentralized exchanges has hit a record high of $56 billion in Jan. 2021, with Uniswap alone accounting for more than $25 billion of the trading volume.  The record monthly volume is a significant leap in since Q4 2020, which saw monthly...

Harvest Finance Adds Farming Strategy for renBTC

1 Feb 2021 1 minute read 4 comments Abhimanyu Krishnan

DeFi yield farming platform Harvest Finance added a new farming strategy for renBTC in the last week of Jan. 2021, allowing users to farm KBTC against renBTC. The renBTCC farm provides one of the higher yields at a 52.72% APY; seeing 2.04 million al...

MakerDAO TVL Nears $5B

29 Jan 2021 1 minute read 27 comments Abhimanyu Krishnan

The TVL of MakerDAO protocol is nearing $5 billion, having reached $4.85 billion as of Jan. 29. Having gained over $2 billion in TVL since the start of the year, Maker is the DeFi protocol with the highest value locked in, ahead of Aave (AAVE) with...

SnowSwap AMM is Picking Up Steam

29 Jan 2021 1 minute read 1 comment Abhimanyu Krishnan

SnowSwap, a new Automated Market Maker (AMM) that is built around the concept of swaps for yield-baring LP tokens, is seeing increasing interest from the crypto-community after it launched the service in mid-Jan. 2021. Based on the Curve (CRV) AMM,...

Aave Releases Protocol Migration Tool

29 Jan 2021 1 minute read 3 comments Abhimanyu Krishnan

Decentralized lending and borrowing protocol Aave (AAVE) has released a new tool that migrates full positions directly from the Aave 1 dashboard, the team announced in a blog post published on Jan. 28. Powered by flash loans, the migration tool allo...

SushiSwap Gains Ground on Uniswap Following Yearn Merger

29 Jan 2021 1 minute read 1 comment Abhimanyu Krishnan

Following its merger with (YFI) in Jan. 2021, the SushiSwap (SUSHI) DEX has captured a chunk of market share from Uniswap (UNI), according to a report from Messari published on Jan. 29. The data from Messari shows that the exchanged ha...

BadgerDAO and UMA Collaborating to Create Exclusive Liquidity Pools on SushiSwap

29 Jan 2021 1 minute read 1 comment Abhimanyu Krishnan

On Jan 28., BadgerDAO co-founder Chris Spadafora published a proposal that would see BadgerDAO and UMA collaborate to create exclusive liquidity pools for new synthetic stablecoins on SushiSwap.  BadgerDAO and UMA are currently working to let users...

Reddit Forms First Blockchain Partnership With Ethereum Foundation

28 Jan 2021 1 minute read 9 comments Abhimanyu Krishnan

On Jan. 28, Reddit formally announced a partnership with the Ethereum Foundation, with the goal of bringing Reddit closer to being decentralized.  The collaboration, which is Reddit’s first-ever blockchain partnership, will see the two parties work...

Uniswap Airdrop is Now Worth $5700

28 Jan 2021 1 minute read 6 comments Abhimanyu Krishnan

Uniswap’s airdrop of 400 UNI tokens in Sep. 2020 has paid off handsomely for users that keep holding, as their value is now over $5700 as of Jan. 28. Uniswap airdropped 400 UNI tokens to users who had used the platform until that point The launch of...