Sailing on with QDAO DeFi! The last week was productive for us as we presented a new promising service for our beloved community. We also added new video guides to expand your crypto mind! Find out more by reading this update.
Cryptocurrencies and DeFi coin market analysis
Something crazy is happening in the crypto market! Bitcoin has become absolutely unpredictable! Its price finally broke the $20,000 mark and soared to $24,000. No one predicted such an increase! Now it’s dipped to $22,600 but we should expect anything. Most altcoins added some value too.
The DeFi market isn’t so ambiguous. On the one hand, the total value locked in DeFi grew to $16.7 billion. On the other hand, most DeFi tokens dipped. Here are the changes in price for some of the popular DeFi coins:
- ChainLink: -4.82%
- Aave: -11.57%
- yearn.finance: -8.59%
- Compound: -8.86%
The crypto market is hard to predict now. The technical indicators say it’s time to go down, while Bitcoin is setting new records. Same goes for DeFi.
DeFi news
There is a lot of news about DeFi. Here are the most important events of the week:
- Warp Finance lost $8 million through flash loan attacks. The losses follow a series of flash loans that have exploited vulnerabilities in the Warp Finance protocol. There are still a lot of vulnerabilities in DeFi and seems like this situation is not going to end soon.
- DeFi is being eaten by CeFi. Compound Finance founder Robert Leshner is confident that CeFi will embrace DeFi. This is not a good sign from a man who owns one of the biggest DeFi projects.
- The DeFi boom drives a 1,200% increase in dApp volume in 2020. The dApp transaction volume has topped $270 billion so far in 2020, with 95% of this figure belonging to Ethereum’s DeFi ecosystem.
QDAO DeFi updates
This week was awesome for QDAO DeFi. We made many crucial changes that will affect the whole community in a good way. Here are our biggest updates.
The new QDAO DeFi service
The QDAO DeFi team launched a new service that is aimed at helping users make a profit by adding BTC, ETH or USDT into liquidity pools. It offers you the chance to become part of DeFi society in just one click! Pools available for investing:
- Yearn USDT (USDT available for investing)
- Uniswap ETH-BTC (BTC available for investing)
- Uniswap ETH-USDT (ETH available for investing)
New tutorials
We’ve added new video guides to our YouTube channel to help you expand your crypto knowledge:
- Overview of the QubitTech platform: Is it worth your trust?: https://youtu.be/rCzOWw3Qgg8
- A quick take on DuckDAO, NFT’s overview and Duck Hunter Season 1: https://youtu.be/Q2J5QSF4mzM
- Impermanent Loss explained, how it works in DeFi: https://youtu.be/3Rkpa8dkYIo
- Is mass adoption of DeFi in the near future? How hard it is to bring technology to people?: https://youtu.be/unboNoHQZAo
- Spark airdrop has begun! XRP and SPARK price predictions: https://youtu.be/TP1J7kFhdGU
- How to stake renBTC/wBTC into Balancer liquidity pools: https://youtu.be/TTYlazPgvH0
The latest stats from QDAO DeFi PULSE:
Number of active users — 9553
Total amount of users’ funds:
3575528.25412 XRP
954.717563164 ETH
187.228707328 BTC
17328485.502 ADA
...and more.
Current users’ interest balance:
59542.186427 XRP
23.021927919 ETH
3.6491973841 BTC
328327.713567 ADA
...and more.
Number of withdrawals made: 8647
Want to be the first to hear QDAO DeFi news and updates? Visit our website and stay in touch with us on social media: Twitter, Facebook, Telegram, LINE and LINE 2 for the Japanese-speaking community.
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