DeFi Weekly | SEC Chairman: No matter how “decentralized” DeFi is, it must be regulated

DeFi data

1. DeFi total market value: 110.76 billion US dollars


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

2. 24-hour trading volume of decentralized exchanges: US$ 3.62 billion


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

3. Total borrowings of DeFi lending platform: 28.53 billion U.S. dollars


Proportion of DeFi Lending Platforms Borrowing Data Source: Debank

4.  In DeFi value of total assets locked 819.6 billion dollars


DeFi ranked top ten lock-up volume data source: DeFi Pluse

Important DeFi developments:

SEC Chairman: No matter how “decentralized”, DeFi must be regulated

According to news on August 19, decentralized exchanges, as a new type of digital asset exchange, have always been regarded as the “Holy Grail” of cryptocurrency. People trade and borrow on it without the participation of “middlemen”. However, the US Securities and Exchange Commission Gary Gensler said in an interview on Wednesday that so far, these peer-to-peer networks are completely unregulated in the United States. This situation may change in the future. Some decentralized finance called DeFi The project appears to have the characteristics of the type of entity subject to SEC supervision. Gary Gensler claims that any project that rewards participants with valuable digital tokens or similar incentives may enter the jurisdiction of regulators, no matter how “decentralized” they say they are.

V God : Decentralized governance is necessary, but there are many risks in voting with tokens

On August 16th, V God said in his latest article: Decentralized governance is necessary, but the current way of voting with tokens has many recognized and unrecognized risks. The main risks include: inequality and dislocation of rewards in the absence of the attacker, which can be improved by purchasing more votes to launch the attack. In this regard, he proposed three main solutions: limited governance non-tokens promote governance to change the voting rules itself, and also proposed a discussion about combining the above three solutions to obtain a new hybrid solution.

DeFi protocol Anchor Protocol lock-up volume exceeds 3.5 billion U.S. dollars

On August 19, the fixed-rate DeFi protocol AnchorProtocol lock-up volume (TVL) exceeded 3.5 billion U.S. dollars, and the total collateral value was 2.33 billion U.S. dollars, of which bLUNA was worth about 2.15 billion U.S. dollars and bETH was worth about 180 million U.S. dollars. Earlier news, AnchorProtocol announced on August 2 that it will cooperate with Lido, a pledge liquidity solution, to launch bETH, aiming to introduce non-Terra ecological assets into AnchorProtocol for the first time and expand the types and liquidity of AnchorProtocol pledges.

V God questioned Twitter CEO’s Bitcoin- based DeFi ideas and Zuckerberg’s meta-universe strategy

On August 19th, Ethereum co-founder Vitalik Buterin said in an interview that he told Twitter CEO Jack Dorsey’s Bitcoin-based decentralized financial plan and Mark Zuckerberg’s Facebook “meta universe” enterprise The transformation plan is skeptical. Vitalik Buterin believes that Bitcoin is currently the largest cryptocurrency by market value, but its original intention is not designed for decentralized finance. On Ethereum, there is a native function that allows users to directly transfer ETH or Ethereum-based assets. Put into these smart contracts, Bitcoin does not have this function, Jack Dorsey must create his own system to enforce these rules. Regarding Mark Zuckerberg, Vitalik Buterin said that Zuckerberg is trying to predict the next phase of the Internet, because now Facebook has been “thrown aside”, and people’s trust in Facebook is not as high as in the past. , So building your own platform may prove to be unfortunate. Vitalik Buterin suggested that Mark Zuckerberg should build on the existing blockchain.

Compound General Counsel: The Ministry of Finance hopes to “capture DeFi” through the infrastructure bill

On August 18, Compound’s general counsel, Jake Chervinsky, believed that the cryptocurrency provisions added to the U.S. Infrastructure Act at the last minute were intended to “capture DeFi.” Chervinsky recently stated on a podcast that the industry has been “schemed” by the encryption tax provisions of the Infrastructure Act. Although Chervinsky pointed out that the previous discussions around the infrastructure bill were “unrelated to encryption,” he attributed more sinister motives to the role of the Treasury Department in influencing the legislation. He admitted that his statement may be a “conspiracy theory”, but hinted that the Treasury Department may be looking for another way to “follow” the harshness that former Treasury Secretary Steve Mnuchin tried to impose on self-hosted crypto wallets. Reporting requirements.

DePlutus and Avalanche collaborate to advance the development of DeFi financial infrastructure

According to official information, DePlutus and Avalanche have reached a cooperation agreement to promote the development of DeFi financial infrastructure. DePlutus joins Avalanche to provide reliable and efficient on-chain encrypted asset management services for the Avalanche ecosystem, and DePlutus’s on-chain fund investors will enjoy the multiple advantages of Avalanche’s fast transaction confirmation and low gas costs. The DePlutus protocol is currently deployed on Ethereum , BSC, Polygon , Heco and Avalanche.

Mask Network will cooperate with the open source cloud storage market Filecoin to promote data decentralization

According to official news, the open source cloud storage market Filecoin will cooperate with Mask Network. In the future, users will be able to use Filecoin to upload or download files on Twitter through the Mask plug-in, and can also send encrypted files to designated Twitter friends. Filecoin stated that it will jointly release bounty tasks related to decentralized storage with Mask Network.


NFT market OpenSea ’s Google search volume hits a record high

Golden Finance reported that, according to The Block Research data, OpenSea, one of the largest markets for NFTs, hit a record high in Google search interest last week. Search interest jumped from 73 in the first week of August to 100 in the second week (the maximum amount of interest possible). OpenSea’s Google search trend coincides with the increase in transaction volume on the NFT platform. As previously reported, OpenSea’s transaction volume increased by more than 194% from July to August, and that month’s transaction volume has reached 830 million US dollars. It is reported that OpenSea is a New York-based start-up company founded in 2017 and received venture capital investment from Andreessen Horowitz in March. OpenSea is now worth more than 1.5 billion U.S. dollars, and the most recent venture capital of 100 million U.S. dollars was obtained in July.

Boxing champion Tyson releases NFT collection on OpenSea and starts auction

On August 20th, boxing champion Mike Tyson (Mike Tyson) released a series of NFT collections on the NFT platform OpenSea. Tyson, 55, collaborated with digital artist Cory Van Lew to launch the “Mike Tyson NFT Collection” (Mike Tyson NFT Collection), which includes 11 unique NFTs for auction and 6 open NFTs, each The number of NFTs varies from 50 to 250. These collections were released earlier today, and NFT used neon colors to depict iconic moments in Tyson’s career, such as knocking down opponents, winning championships and “biting ears” events. As of press time, there are three unique NFTs, among which the highest bid is 5 ETH, which is worth about $16,000. But since the auction will not end until August 24, prices may rise rapidly. Tyson also said on Twitter that the “as-you-go” version of the NFT was sold out within an hour of its launch. It is reported that this is the first official NFT series released by Tyson and 1 Of One Studio.

Tencent NFT trading platform Magic Core Phase II NFT snap-up sold out instantly

On August 20th, Tencent’s NFT trading platform Magic Core’s second phase of NFT snap-up was officially launched at 15:00, and it was sold out in an instant. It is understood that the T Wanhua Mirror series NFT purchased this time is an animation work of 56 Chinese ethnic impressions created by young artist Zhou Fangyuan.

Bei Mei gaming organizations NRG Esports announced to achieve cooperation with the chain of Guardians tour Guild, the development of NFT collectibles

North American e-sports organization NRG Esports announced a partnership with the blockchain mobile game Guild of Guardians to jointly develop NFT collections. Guild of Guardians is a NFT-based mobile RPG game currently under development and will be released on mobile platforms in early 2022. People in the e-sports industry said that e-sports organizations are ready to embark on the journey of NFT competition, and this has gradually become apparent. Unlike other partners, NFT integrates e-sports organization into the game, which is very unique.

NFT verification platform Ethernity releases boxer Manny Pacquiao series NFT

Recently, NFT verification platform Ethernity is releasing a set of digital art NFT and trading cards to commemorate the famous boxer, politician and philanthropist Manny Pacquiao. The core of the NFT series is the highly realistic portrait “PacMan” (named after the popular nickname of Manny Pacquiao) produced by Rikognition. The NFT auction will last for 72 hours, and the starting price is $1 ETH. As a special reward, buyers will receive two tickets for the upcoming Manny Pacquiao and Yordenis Ugas matches at the T-Mobile Arena in Las Vegas, Nevada on August 21. In addition, Ethernity will auction a set of trading cards representing Pacquiao’s various poses, clothes and card frames, including 10 legendary NFTs, starting at US$1,500; 25 epic NFTs, starting at US$750; 100 ordinary NFTs, starting at US$250 .

ONE Championship and Theta Network have reached a partnership to jointly launch NFT products

On August 16, the ONE Championship officially announced that it has reached a global partnership with the blockchain platform Theta Network, and the two parties will jointly launch non-homogeneous token (NFT) products. This cooperation is the first time that the ONE Championship has entered the NFT business. The ONE Championship said that the early stage will mainly focus on the content production of the ONE event. At present, the two parties have opened the pre-registration of ONE Championship NFT products to fans on the official website of Theta Network, and will issue off-line event benefits including backstage pass for the event and priority selection of seats for watching games according to the user’s registration time. There are 10 products on line at this stage, the protagonists include EDDIE ALVAREZ, Chinese player Xiong Jingnan and so on.

Disclaimer: As a blockchain information platform, Golden Finance is for informational reference only, and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase risk awareness.


Posted by:CoinYuppie,Reprinted with attribution to:
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