This Week in Blockfolio Signal — Aave, Solana, Avalanche, IOTA, Zilliqa, Yearn Finance, Golem
Every week we comb through hundreds of Blockfolio Signals to bring you the most significant team updates with brief analyses to help you understand the latest developments in blockchain.
Macro crypto news this week:
- Beeple NFT Artworks Sells for $69.3 Million
- No Announcement on Rumor of Oracle Investing $4B into BTC
- Meitu Snaps Up $40M in BTC and ETH
- Grayscale Halts Investments in Bitcoin Trust at 15% Discount
- Vitalik Announces Rollup Solution to Increase Capacity 100x
- EIP 1559 Scarcity Engine Set for July, Reduces Net Issuance of ETH
- Etherum Berlin Hard Fork to Optimize Fees/Security Set for Mid-April
- JP Morgan Launches ‘Crypto Exposure Basket’
- PayPal Purchases Crypto Custody Firm Curv
Top Blockfolio Signals of the past week:
- Aave Protocol Integrated with Taurus to Improve Banking Access to DeFi
- Tether Goes Live on Solana Blockchain
- The Blocknet is Migrating Infrastructure to Avalanche
- IOTA Releases New Pollen Testnet to Test Mana Implementation
- Zilliqa Capital Has Launched to Fuel DeFi Market
- Yearn Finance Launches New v2 yVaults
- Golem Launches New Mainnet Dubbed Yagna
Aave Protocol Integrated with Taurus to Improve Banking Access to DeFi
“Taurus has integrated Aave Protocol V1 + V2, enabling institutional and banking clients to directly deposit and borrow a wide range of digital assets.”
— Isabel Kivlighan, Digital Marketing Manager
- Taurus Group said it has integrated the Aave Protocols’ version 1 and 2 into its end-to-end digital asset infrastructure.
- Aave is a DeFi protocol used for both retail and institutional clients, providing users with a decentralized backend infrastructure for lending and borrowing.
- The Aave Protocol is being used in the Taurus Group custody product “Taurus-PROTECT” as well as its smart contract issuance and interaction platform “Taurus-CAPITAL,” allowing institutional clients to deposit, withdraw and borrow assets, and stake AAVE tokens, said the firm.
DeFi provides transparent, efficient, and cost-effective solutions for banks to deploy their capital more effectively. Aave is demonstrating this capability, which signals interest from the traditional finance sector in DeFi.
Price at the time of Blockfolio Signal: $425. View AAVE on Blockfolio.
Tether Goes Live on Solana Blockchain
“USDT-SPL on Solana is live. Looking to add Solana native USDT support?
Check out our SPL Token integration guide: https://spl.solana.com/token#wallet-integration-guide
The USDT Token mint can be seen here: https://explorer.solana.com/address/Es9vMFrzaCERmJfrF4H2FYD4KCoNkY11McCe8BenwNYB”
— Austin Virts, Marketing & Growth
- Stablecoin issuer Tether has announced that USDT tokens have launched on the Solana (SOL) blockchain.
- Tether’s CTO said that the integration with the layer 1 blockchain promises to support a wide array of projects in the Decentralized Finance, or DeFi, sector and other Web 3.0. activities.
- According to Tether, Solana will enable users to transact USDT at speeds higher than 50,000 transactions per second. It also claims that transaction fees could be as low as $0.00001 each.
This lower-cost, higher-speed alternative to Ethereum will provide a boost to new applications and projects in the DeFi space. Having Tether on Solana will open up new DeFi possibilities and attract new investors to the ecosystem.
Price at the time of Blockfolio Signal: $16.15. View SOL on Blockfolio.
Avalanche Announces The Blocknet is Migrating Infrastructure to their Platform
“The Blocknet is migrating its interchain infrastructure to Avalanche, extending Avalanche’s cross-chain capabilities for subnets and smart contracts.”
— Sinan Mellaart, Digital Marketing Manager
- The Blocknet is extending the power of Avalanche’s subnets with a decentralized indexing system, enabling dapps to use Avalanche contracts and transactions with those on any other blockchain in a trustless fashion.
- After the release of the indexing system, the Blocknet will migrate to Avalanche.
- Blocknet will employ its XRouter technology alongside Avalanche’s Ortelius indexing tool to surface chain data via a GraphQL interface.
With the Blocknet integration, interoperability with almost every blockchain in existence can become a reality for Avalanche. The “interchain ecosystem” is necessary to the future growth of decentralized finance and applications.
Price at the time of Blockfolio Signal: $31.40. View AVAX on Blockfolio.
IOTA Releases New Version of the Pollen Testnet to Test Mana Implementation
“We’re starting our journey with mana! We’re delighted to release our new version of the Pollen testnet aiming to test the first iteration of the mana implementation. Come try it out and share your comments.”
— Thabata Dias, Social Media Manager
- With the Mana module being successfully implemented, the next stage of their Coordicide testnet called “Nectar”, the first feature-complete Coordinator-free testnet, is around the corner.
- Core modules, such as the IOTA congestion control, the Fast Probabilistic Consensus, the autopeering, and the distributed Random Number Generator, will leverage Mana as their Sybil protection mechanism.
- This version bump resets the network as well as the Tangle, and all the balances and tokenized assets. A new GUI Pollen wallet has been released.
- This release brings new APIs, a new Mana section on the local dashboard, the Pollen Analyzer dashboard as well as on the Grafana dashboard.
Mana provides IOTA a way to handle network congestion and a reputation system to help make the network more secure. It combines the advantages of a fund-based Sybil protection mechanism with those of a reputation system.
Price at the time of Blockfolio Signal: $1.44. View IOTA on Blockfolio.
Zilliqa Capital Has Launched to Fuel DeFi Market
“Zilliqa Capital has officially launched with a BIG mission to invest in high-growth blockchain projects that can fuel the billion-dollar DeFi market across ASEAN and India.
The company will identify promising ventures which have the potential to be built ON or INTEGRATE Zilliqa #BaaS, invest and then help them scale. The possibilities are limitless across industries — whether it is payments, remittances, lending, DeFi, gaming, NFTs, entertainment. These solutions will form the bedrock of the new DigitalEconomy and Web 3.0.
Our brilliant board of Directors will be instrumental in helping Zilliqa Capital realise its objectives, and we’re thrilled to welcome them into the family!”
— Milan Shoukri, VP — Partnerships & Marketing
- Zilliqa Capital is a blockchain investment company that invests in next-generation FinTech, Open Finance, and Decentralised Finance solutions across the APAC region, with a focus on ASEAN and India.
- Operating as a permanent capital vehicle, Zilliqa Capital aims to foster the creation of an open and interoperable financial network in the APAC region via focused investments in blockchain-related products and services as well as traditional FinTech startups.
- In particular, by leveraging its strategic relationship with Zilliqa, the company will seek to become the central investment hub for the Zilliqa ecosystem and tap into the investment opportunities in Zilliqa’s thriving ecosystem of venture builders, developers, startups, and its broad community, while also looking to attract new development.
This venture vehicle will help to identify, vet, and fund developers that build new DeFi projects on the Zilliqa platform. Thus, it should serve to accelerate DeFi development on Zilliqa and bring new products to market faster.
Price at the time of Blockfolio Signal: $0.157. View ZIL on Blockfolio.
Yearn Finance Launches New v2 yVaults
“Our v2 yVaults are more advanced and lucrative than our v1 vaults.
We encourage depositors to transition over to our v2 yVaults. To make this process easy, we are introducing a 1-click migration starting with our YFI vault.
— Facu Ameal, Lead Communications
- Yearn Finance recently released version 2 of their vaults and has been adding new vaults every week. The yVaults represent some of the most efficient and profitable yield-farming products in DeFi.
- These vaults offer higher yields and greater security than v1 vaults. Yearn Finance has exceeded $1b in total value locked (TVL).
- New vaults launched recently include the v2 ETH Vault (13% APY currently), v2 DAI vault (18% APY), v2 USDC Vault (24% APY) v2 YFI vault (173% APY), as well as several utilizing Curve Finance and Uniswap.
- Yearn added two net strategies to the popular v2 yDai vault and increased the deposit limit.
- yVaults targets those that want to earn yield with almost zero effort. The yVaults pool capital together and earn yield collectively. By pooling capital together and harvesting yield for the entire vault, they are able to socialize the gas costs related to yield-farming across the entire vault.
Yearn’s new v2 vaults not only improve yields and increase security, but they offer several new investment options for investors looking to maximize returns. They offer a simple interface with some of the highest yields in the DeFi sector, which is sure to help increase adoption and attract capital.
Price at the time of Blockfolio Signal: $37,725. View YFI on Blockfolio.
Golem Launches New Mainnet Dubbed Yagna
“We are extremely proud to announce that Golem is now live on the Ethereum mainnet with payments operating on Layer 2 by ZkSync.”
— Mattias Nystrom, Community Manager
- After several months of a focused effort of the whole Golem team, we’re proud to present you with the first official, albeit still experimental, mainnet version of the new Golem, also known as Yagna.
- The mainnet Golem is now using our recently-migrated, ERC-20-compliant GLM token and we’re utilizing zkSync (Layer 2 payment provider) to keep the transaction costs at manageable levels.
- While Yagna still lacks P2P support, verification mechanisms, and low-level protocol encryption and signing, it has all the other features that we wanted to include in the MVP for the new Golem including decentralized market implementation, computational environments VM and WASI, support for per task and per-usage pricing schemes, and payments with the new GLM token (both L1 and L2) on the Ethereum Mainnet.
- To enable app developers to jump right into the development, Golem officially supports two high-level APIs — for Python and for JS/TS.
This release is the culmination of months of work and represents the first mainnet version of the new Golem. L2 payments with zkSync and ERC-20 compliant tokens are two big steps that should help attract new developers and investors to Golem going forward.
Price at the time of Blockfolio Signal: $0.47. View GLM on Blockfolio.
Quote of the Week:
“Coinbase worth $100b.
All of DeFi only worth $85b.
One crypto bank is worth more than the entire market cap of DeFi.
Let me connect the dots.
DeFi is still ridiculously undervalued.”
— Ryan Adams
“Let’s say Apple was to put 5% of their cash into Bitcoin: It would gobble up 14% of all available BTC on exchanges, or the ENTIRE current Coinbase order book from now until $100,000, 18 times over.”
— William Clemente III
Chart of the Week:
Massive premium to NAV for Grayscale’s Bitcoin Trust falls to a 15% discount. This is attributed to new alternative ways to get exposure, no redemption mechanism, high fees, and funds arbing the premium.
Thanks for joining us and we look forward to bringing you our top Blockfolio Signals again next week.
Ecosystem Insights & Development @ Blockfolio
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This Week in Blockfolio Signal — Aave, Solana, Avalanche, IOTA, Zilliqa, Yearn Finance, Golem was originally published in Blockfolio Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
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