DeFi Weekly | DeFi currency rose to a total market value of 106 billion U.S. dollars

DeFi data this week

1. The total market value of DeFi: US$106.03 billion 


The price of the top ten currencies by market capitalization and the change this week, data source: CoinGecko

2. 24-hour trading volume on decentralized exchanges: US$4.97 billion


The top ten DEX by trading volume. Data source: Debank

3. Total borrowings of DeFi lending platform: US$26.42 billion


Data source: Debank

4. Assets locked in DeFi: a total value of 79.34 billion US dollars


Data source of the total lock-up volume of DeFi projects: Debank


The top ten rankings of DeFi projects locked assetsData source: Debank

Important DeFi developments:

DeFi strategy game SOVI.Finance and Meta universe project NetVRK reached a strategic cooperation

DeFi strategy game SOVI.Finance recently announced that it has reached a strategic cooperation with NetVRK, a meta-universe project that combines NFT and VR. Netvrk hopes to make Metaverse into the mainstream, so that anyone can start to create, share and use NFT and virtual land to monetize their creations. This partnership will benefit both parties. Each other can help each other maintain future development and growth, share information, and support marketing.

Andre Cronje: The government may promote DeFi regulation within 1-2 years, and then realize that regulation is not enforceable (YFI) founder Andre Cronje released a series of predictions on Twitter yesterday, stating that the government may promote the existing supervision of DeFi within 1-2 years. The loan agreement and DEX will be the main targets and are not optimistic; this may lead to The user’s panic will last for more than 2-3 years, and then they will realize that supervision is not enforceable, and will develop a special regulatory framework for DeFi after more than 2 years.

The total lock-up volume of the DeFi protocol returns to 100 billion U.S. dollars

According to news on August 7th, according to the latest data from DeBank, the total lock-up volume of the DeFi protocol has returned to above US$100 billion. At the time of writing this article is US$100.17 billion (net lock-up volume is US$75.61 billion). The current lock-up amount ranks among the top The three DeFi agreements are Aave V2 ($12 billion), Maker ($11.8 billion), and Compound ($11 billion). The first breakdown of the total lock-up volume of US$100 billion occurred on April 27, 2021, and then it soared rapidly and reached a record high of US$130 billion on May 10, 2021. However, in the “5.19” figure During the currency market turmoil, it fell below the $100 billion mark.

Social NFT platform DeFine will launch Polygon

According to the official announcement, the social NFT platform DeFine will launch Polygon, and DeFine will bring its social profile system to the Polygon ecosystem. Through Polygon integration, users will get badges that represent their activities in the ecosystem.

Filecoin’s decentralized financial platform DeFIL2.0 has announced its token economic model

According to official sources, DeFIL2.0 has announced its token economic model. DeFIL2.0 platform token DFL is 100% produced through mining, with a total issuance of 337 million, an initial daily issuance of 125,000, and a halving cycle every 1,000 days, and 95% of DFL output will be given to the DeFIL ecosystem Contributors. In DeFIL2.0, in addition to participating in the pledge acquisition platform DeFi loan interest, DFL also adds application scenarios for group LP liquidity mining, DAO governance functions, and destruction mechanisms.

Formation.Fi, a cross-chain DeFi protocol, receives strategic investment from Momentum6

Momentum6 announced a strategic investment in Formation.Fi, a cross-chain DeFi protocol. Earlier news, Formation.Fi completed a strategic financing of US$3.3 million. Participants include Kenetic, Kosmos, Spark Digital Capital, AU21, X21 Digital, Momentum 6, GenBlock, GBV Capital, Shima Capital, Brilliance Ventures, and Bancor, Synthetix, Polygon founders people. There are 18 other investors also participated in this round of oversubscription

U.S. SEC takes enforcement action against DeFi project for the first time

Golden Finance reported that the U.S. Securities and Exchange Commission (SEC) announced that it had reached a settlement with the decentralized financial project DeFi Money Market on its fraudulent issuance allegations, marking the first time the SEC has taken enforcement actions against DeFi projects. The operators of the project, Derek Acree and Gregory Keough, allegedly defrauded investors by selling mToken and DMG tokens to investors. Due to price fluctuations, the business plan was unsuccessful, and the operator chose not to disclose it to the buyer. The two did not purchase car loans as claimed by DeFi Money Market, but injected their own funds into the project to pay the interest on mToken redemption and keep the fraudulent plan going on. Without acknowledging or denying the SEC’s allegations, the defendant agreed to pay $12.8 million in illegal gains and a total of $300,000 in fines

Synthetix founder: DeFi supports a fair, open and efficient market like supervision

KainWarwick, the founder of Synthetix, tweeted to express his views on the current DeFi regulation. He believes that global regulation of DeFi is inevitable. We must clearly communicate that we also support a fair, open and efficient market. This is in keeping with the goals of regulatory agencies. Incredibly consistent, everyone in DeFi now needs to coordinate around a unified narrative. At present, it seems that there is a loose DeFi founder alliance that is beginning to realize this problem, but it has not been formally established.

The quarterly profit before tax of SBI’s encrypted asset-related business increased by 56% year-on-year, and the NFT market may be launched

According to the April-June 2021 consolidated report released by the Japanese financial giant SBI Holdings, the pre-tax profit of crypto-asset-related businesses in the quarter was US$41.7 million, an increase of 56% compared to the same period in 2020. The company said it hopes that based on the current market’s interest in NFTs, it may launch an NFT market and a secondary market platform. The company also said that the company has a dedicated DeFi department that is developing smartphone applications. It is reported that SBI operates two local exchanges, SBI VC Trade and TaoTao platforms, SBI Crypto and liquidity provider B2C2. The company also recently partnered with Ripple in the US to allow XRP to send money between Japan and the Philippines.


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