This week, mainstream assets all have a relatively obvious increase. In addition to various crude oil CFDs, the WTI category is not included in the chart below. The relative increase or decrease will affect the intuitive perception of the market performance of other mainstream assets.
(Data source: Debank, HyperFin official website, CoinMarketCap)
DeFi data
(Data source: Debank, HyperFin official website, CoinMarketCap)
Operation of DeFi platform
Deposit rate/deposit (mortgage) total amount
Borrowing rate/amount of loans
Liquidation volume this week
Stablecoin Information
DeFi News Roundup of the Week
1. Traders took advantage of the volatility caused by the new crown virus to trade, resulting in a surge in dYdX loan issuance;
2. The DeFi platform PegNet is suspected of being attacked by 51% of its top miners;
3. The token listing platform CoinList expands to the DeFi market;
4. CEO of Maker Foundation: CeFi and DeFi will eventually merge;
5. The cross-chain DeFi project Kava received USD 750,000 investment from Framework Ventures;
6. The hacker returns most of the losses on the Lendf.me platform;
This week's DeFi market summary
This week's DeFi market summary
On April 19, hackers borrowed nearly all tokens available on the Lendf.me platform, over $25 million in various cryptocurrencies and stablecoins, through a combination of critical flaws in the Lendf.me contract and how user balances are updated . However, after the theft happened, hackers transferred a large number of stolen tokens back to the platform address, which also sounded the alarm, that is, can the current code technology perfectly meet the operational demands of the Defi platform? Traditional financial institutions need access licenses to develop their businesses, and they also need to meet many rigid and invisible regulations. So, from the technical point of view of the team, does the decentralized method of relying on smart contracts mean that users deposit funds in loans to earn interest? The maturity of the model?
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Data source: MakerDao
While volatility in the market has seen a lot of money flow into stablecoins, it has been a headwind for Dai, the largest decentralized stablecoin. On March 12, 2020, the price of ETH plummeted by 44%. Due to the problem of vault liquidation, the Maker system still had a funding gap of 4 million US dollars.
We can also see that the total amount of USD assets locked in DeFi has been increasing recently. In addition to the continuous development of the DeFi project itself, the recovery of the overall external market and the rise in currency prices are also important factors that lead to the increase in the total amount.
When DeFi is facing more serious technical risks, there are many heavyweights who express their views on DeFi. Maker Foundation CEO Rune Christensen said that the bidding time of the auction has increased to 6 hours, which means that in times of network congestion In this case, auction participants will have more time to place their bids. These changes should prevent zero-bid auctions from happening. He also noted that adopting USDC as additional collateral reduces the system’s dependence on Ethereum’s volatility, making it more stable. In response to criticism surrounding the centralization risks posed by adopting USDC, Christensen pointed out that in order to maintain the stability of the MakerDAO protocol, it is necessary to add other collateral types based on real-world assets. In addition, Christensen said that DeF is still in its infancy, and DeFi will eventually merge with CeFi.
DuneAnalytics data shows that in the past month, the number of smart contracts has exceeded 2 million, but it has been a bad month for Ethereum in terms of price. It is reported that since April 2019, only one month has the implementation volume of smart contracts exceeding 1 million. The most recent peak was in October 2019, when the number of smart contracts in use was close to 1.2 million. From an Ethereum perspective, the rise of smart contracts is a positive, as it could indicate that more users are using these mechanisms in the DeFi ecosystem. However, the rise of smart contracts may also be indirectly related to the injection of USDT in the Ethereum ecosystem. Now, despite rising smart contract deployment activity, Ethereum’s daily transaction volume remains stagnant. This level has remained unchanged since early February, which may indicate that the smart contracts implemented are not really being used to facilitate user participation in the ecosystem.
Epidemic data attached
On Saturday (April 25), local time, the White House did not hold a routine new crown epidemic briefing, and it is not certain whether it will be held on Sunday. U.S. President Trump tweeted at the usual time of the press conference that the press conference was "not worth the time and effort!"
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(Image source: Twitter)
The White House press secretary said it was up to the president to decide whether to hold a press conference or not.
According to the latest statistics, the cumulative number of confirmed cases of new coronary pneumonia in the world has exceeded 2.92 million, and the cumulative number of deaths has exceeded 200,000. At present, there are 7 countries in the world with a cumulative number of confirmed cases exceeding 100,000. Among them, the United States is still the country with the largest number of confirmed cases in the world, with a cumulative number of confirmed cases exceeding 960,000.
Worldometers world real-time statistics show that as of 10:03 on April 26, Beijing time, the cumulative number of confirmed cases of new coronary pneumonia in the world has exceeded 2.92 million, reaching 2,920,877, and the cumulative number of deaths has exceeded 200,000, reaching 203,272.
The cumulative number of confirmed cases of new coronary pneumonia in the United States is the largest in the world, with more than 960,000 cases, reaching 960,651 cases, and the cumulative number of deaths has exceeded 54,000 cases, reaching 54,256 cases. This number is close to the death toll of the US military in the Vietnam War. During the more than ten years of the Vietnam War, nearly 60,000 U.S. troops were killed on the battlefield in Vietnam.
