Today in DeFi - Yearn SNX Vault Live, Fish.Vote for Uniswap, and More...

2 years ago 380

Yearn SNX yVault

The markets rain fire, but we do not cower, we deliver Go tell the Spartans, stranger passing by, that it is here Blue metal + bronze Yearn + Synthetix $YFI + $SNX 🧵 below

Yearn launched SNX yVault, which makes SNX staking easier and more rewarding. The vault does batch claims & re-investing automatically, reduces debt exposures, and lets users withdraw funds in SNX or swap directly to other mainstream cryptocurrencies.

The vault collects a 2% management fee + 20% performance fee, which may still be quite reasonable for most small to medium sized stakers, for whom this strategy would be unprofitable due to gas costs.

Sushiswap

Today in DeFi is sponsored by Sushiswap.

Sushiswap is a DeFi-Native DEX which features the best liquidity across many DeFi pairs such as YFI, SNX, and AAVE.

Sushiswap has recently launched Bentobox, gas-efficient lending platform for DeFi, as well as Kashi, a one-click margin-trading platform.

Check out Sushiswap at Sushi.com, or try the Bentobox/Kashi beta at staging.sushi.com

Fish.vote for Uniswap

John Palmer @john_c_palmer

1/ Excited to launch fish.vote, an app to make @Uniswap governance more accessible. Fish.vote lets anyone can create a Crowd Proposal that others can support. If a proposal receives 10M delegate votes, it becomes a formal UNI governance proposal.

Fish.voteCrowd proposals for Uniswap governancefish.vote

Uniswap Grantees built fish.vote, enabling small to medium sized UNI hodlers to create Crowd Proposals, making it easier for them to accrue support to make formal UNI proposals.

Uniswap governance has an extremely high quorum requirement which has in the past been a barrier to governance, so this is certainly a welcome project.

Anyswap BSC<>Polygon Bridge Live

Anyswap @AnyswapNetwork

anyswap.medium.com/linking-polygo… We're thrilled to announce our $BNB bridge between #BSC and @0xPolygon and look forward to its future use on @MUSTCometh @QuickswapDEX and @_DFyn.

Polygon (previously Matic) @0xPolygon

🔁 Delighted to share that @AnyswapNetwork has created a bridge to link Polygon and Binance Smart Chain! 🚀 Using AnySwap's decentralized cross-chain swap protocol, users can move BNB to Polygon, with support for other assets to be added soon Learn more: https://t.co/hRokWXIQ1F https://t.co/v6Ikobforl

Anyswap’s BSC to Polygon bridge is live on anyswap.exchange/bridge, which for now moving BNB from BSC to Polygon is free.

Lixir Launching

Lixir @lixirfinance

1/ 🚨 APP GOES LIVE 22nd May 4pm UTC 🚨 Our first version of the app goes live on the 22nd 4pm UTC. The first version features 5 pools with a hardcap, whereas LIX/ETH has the highest cap. On Monday 24th we will add farming to our protocol.

Lixir, a liquidity concentrator for Uniswap V3, will be launching tomorrow May 22.

Lixir pools assets from users and automatically manages rebalancings and incentives so that users earn fees and LP rewards as consistently as possible on AMMs like Uniswap.

BSC PancakeBunny Crash

Igor Igamberdiev @FrankResearcher

1/6 Today, BUNNY tokens worth $1B+ were minted from Bunny Finance on BSC, resulting in $40M+ was stolen: - 114k WBNB ($40M) - 697k BUNNY For this reason, the BUNNY price fell from $146 to $6👇

PancakeBunny, a popular yield aggregator on BSC, got exploited for a $1b loss on May 20. As The Block’s Igor explains, this was an oracle attack where the price of Bunny was manipulated.

pancakebunny.finance @PancakeBunnyFin

Bunny Fam Team Bunny has outlined detailed post-mortem and plan for compensation process, new Token, new BUNNY emissions and new Bunny Pool in our Medium article. Please find the link below. Remember, no vaults were compromised. Your funds are safe.

Go Forward Plan1. First of all, all of the Vaults are safe. No vaults were breached, and $1bn in TVL WAS NOT STOLEN from our vaults. However, a hacker was indeed able to gain ~$45M from this incident. 2. Where did…pancakebunny.medium.com

Vaults were not affected (though APYs certainly were). The PancakeBunny team has released its compensation plan and post mortem above.

Follow @todayindefi to keep up with the latest DeFi news on Twitter.

Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned.

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