In fact the financial institution runs at Silvergate and Silicon Valley Financial institution are all anybody can discuss this week. Crypto of us must be aware of this case after experiencing FTX, BlockFi, Genesis and the remainder of 2022, however as soon as once more we’re drawn to the stark variations between how the identical monetary panic would play out in DeFi. Within the above tweet (h/t Hart Lambur), Superfluid founder Francesco Renzi highlights how depositors would have extra incentive to remain when others withdrew their funds as a result of rates of interest regulate robotically.
We’d add yet another: clear collateral. There wouldn’t be whispers of how a financial institution didn’t react fast sufficient to altering charges and the losses that could have ocurred. It might be on-chain for everybody to confirm.
Maybe it’s as a result of we’re obsessed die-hards, however simply as after the FTX collapse, it’s simply extra cause to double-down on DeFi.
The primary chart in a deep dive into the state of DEX buying and selling exercise within the months following FTX’s collapse from Tanay Ved & Kyle Waters in CoinMetrics’ newest State of the Community. The chart above lays out the market share amongst Uniswap and main CEXs – with the notable exception of Binance, which instructions an 80% marketshare within the spot market. Whereas Kraken and Coinbase took an excellent chunk of circulation from FTX, Uniswap’s market share has additionally steadily elevated. Barely touching 20% previous to FTX fall versus now persistently above and nearer to 30-35%. Uniswap is completely happy to be on par with these CEXs but it surely has its sights set on Binance.
It might want to deal with rising quantity outdoors of Ethereum mainnet if it hopes to tackle Binance. Round 80% of Uniswap v3 quantity comes from Ethereum mainnet, versus ~11% on Arbitrum, 6% on Polygon and 3% on Optimism. With the addition of Base from Coinbase (a fork of Optimism) and different zkEVMs on the horizon, there may be extra room to develop. And, in fact, Uniswap Governance voted final week to launch on BNB chain itself.
Take a look at the full CoinMetrics put up to higher perceive DEX quantity the previous few months. There was additionally a nice piece on Messari Professional yesterday taking a look at DEX customers.
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Alpha Homora provides $32m in ‘seized’ belongings to Iron Financial institution to pay down debt Hyperlink
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Timeboost: A brand new transaction ordering coverage for Arbitrum Hyperlink
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Frax co-founder makes a case for stablecoin maximalism at ETH Denver Hyperlink
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Blockchain Affiliation proclaims rules for stablecoin laws Hyperlink
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Rune, MakerDAO founder, proposes rebranding DAI stablecoin Hyperlink
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Rocket Pool to launch 8 ETH “mini” swimming pools Hyperlink
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WSJ: Stablecoins like USDC are commodities, says CFTC chair Hyperlink
That’s it! Suggestions appreciated. Simply hit reply. Written in Nashville, the place the anticipation for spring is constructing.
Dose of DeFi is written by Chris Powers, with assist from Denis Suslov and Monetary Content material Lab. Caney Fork, which owns Dose of DeFi, is a contributor to DXdao and advantages financially from it and its merchandise’ success. All content material is for informational functions and isn’t meant as funding recommendation.
