▌ Yam Finance will submit snapshots for 4 major proposals tomorrow
On October 3, Yam Finance officially announced that it will submit a snapshot of the current official forum proposal tomorrow and enter the voting process. Voting will start at 21:00 UTC on October 3 (5:00 on October 4 Beijing time). The official reminder, please remove the liquidity at that time. The details of the specific snapshot block will be announced tomorrow. The current proposals of the official forum mainly include: 1. Use the ETH/YAM pool as a new fiscal purchase pool to solve the problems of liquidity and capital flexibility. The proposal proposes to take the incentives from the YAM/yUSD pool (the original fiscal pool), add incentives to the YAM/ETH pool, and convert the target price from 1yUSD to 1.00 USD. 2. It is proposed to modify the Yam protocol so that LPs (ie "farmers") among the incentivists can vote in the on-chain governance process. Because the current voting rights for personal governance are based on the previous number of YAM's benchmark changes held when the account starts to vote, it means that individuals in the incentive pool cannot vote. 3. It is proposed that the Ministry of Finance invest in the DeFi Pulse Index Set, that is, to purchase a $250,000 DeFi Pulse Index Tokenset (DPI). This move aims to allocate part of the fiscal funds to DPI and diversify risks. 4. Add the RageQuit function to provide a fair way for users to log out of YAM. Specifically: a. Determine fiscal expenditures based on YAM tokens; b. Pay users from the reserves of the Ministry of Finance of YAM, or issue bonds at equivalent denominations; c. Bonds are auctioned and funds are provided to users who destroy tokens D. All future inflows of YAM fiscal funds must first repay debts, and then flow into YAM bonds.
▌ YFI Metamask has been added to the default list of tokens
October 3, yearn.finance core developers banteg tweet said, YFI has been added to the Ethernet Square lighter wallet MetaMask default token list.
▌ Comments: KuCoin theft shows that the risk of an increase in money laundering for DeFi
According to a Forbes review article, the theft of KuCoin shows that the risk of using DeFi for money laundering is increasing. DeFi's innovation has many risks, such as lack of KYC/AML measures, and lack of protection during transactions. The lack of safeguards will lead to an increase in "bad guys", bringing this area to a dangerous situation, and also making certain DeFi project parties suspected of money laundering and terrorist financing. And this is not the first time DeFi has been used for money laundering.
▌ Compound initiated governance proposal 025 plan to support UNI token
Just recently Compound Labs officially tweeted that Geoffrey Hayes, the co-founder and chief technology officer of Compound, has submitted Compound governance proposal 025 and plans to add UNI to the Compound protocol. Specifically: the mortgage factor is 60%; the storage factor is 20%; the loan upper limit is 2 million UNI.
▌ dForce Lock total amounted to $ 200 million in the future will continue to access Curve.fi other agreements
On September 28, the decentralized financial protocol dForce officially issued a document announcing that the incentives for the champagne tower pool and gold rush pool for dForce liquidity mining will remain unchanged for the ninth week, namely the champagne tower pool (pool 1 supports dToken; total DF rewards It is still 260,000 DF) and the gold rush pool (Pool No. 2 is for GOLDx/USDx; 25,000 DF) until October 5; the ninth week of the singularity pool incentive plan will be notified separately. In addition, officials said that as of September 28, dForce's total lock-up volume reached 200 million US dollars. In the future, dToken will continue to access other liquidity protocols such as Curve.fi.
▌ MakerDAO "Black Thursday" formally submitted to arbitration-related litigation
On September 29th, a lawsuit accusing MakerDAO of misrepresenting DAI-related risks in the "Black Thursday" incident has been formally submitted to arbitration. MakerDAO user Peter Johnson filed a lawsuit on April 14, 2020, claiming that DAI’s terms of service deliberately misrepresented the structure of the MakerDAO agreement in order to dilute the risk of using the agreement, and filed nearly $30 million in damages. Earlier on September 22, MakerDAO decided through a community vote that it would not compensate users who suffered losses in the "Black Thursday" incident.
▌ data: Uniswap Lock volume reached 2.32 billion US dollars
According to data from OKLink on the Oukeyunchain, as of 18:00 today, the total amount of the Defi protocol on Ethereum is approximately USD 13.49 billion. Among them, the top three are Uniswap USD 2.32 billion (+0.05%), Maker USD 1.95 billion (-1.09%) and Curve USD 1.58 billion (-2.02%).
▌ Yam Finance has officially submitted a proposal to modify the key parameters of the Yam protocol on the chain
In the morning of September 30, Yam Finance officially announced that the on-chain proposal to modify the key parameters of the Yam protocol, MaxSlippage and RebaseLag, has been formally submitted to initiate governance voting. Officials said the voting will last 48 hours, and if approved, it will enter a 12-hour time lock.
▌ Uniswap trading volume than the second largest CEX Coinbase Pro
Uniswap has locked up a total value (TVL) of up to $2 billion this week. Data on Tuesday showed that in the DeFi project, Uniswap accounted for more than 18% of the $11 billion market. On Tuesday’s trading volume data, the second largest CEX Coinbase Pro had a trading volume of US$343 million in the past 24 hours, and Uniswap is now much higher than Coinbase Pro at a price of US$398 million, making DEX the largest trading volume on September 29. The second largest cryptocurrency exchange.
▌Yearn.finance: Processing the return of ENM stolen assets
On September 30, Yearn.finance officially tweeted that it is currently dealing with the return of ENM project assets. On September 29th, the new ENM project launched by yearn.finance founder Andre Cronje suffered a Flash loan attack, and 8 million US dollars of stolen funds were sent to Andre’s own yearn: deployer account. Subsequently, Andre Cronje plans to return 8 million US dollars of stolen funds.
▌SushiChef: SUSHI has officially started to reduce supply
On September 30, SushiChef tweeted that the SUSHI supply reduction activity has officially started, that is, from now on, 2/3 of the newly produced SUSHI supply will be locked for 6 months. The official reminder said that users may only see 1/3 of the reward now, and the annualized income seems to drop by 3 times, but don’t worry, this is not the case, just because 2/3 of the reward is locked.
▌SushiSwap officially announces the progress of the four major proposals in the community
SushiSwap officially issued a report on the progress of the SushiSwap proposal today. The article announced the progress of SushiSwap's four recent community proposals. The specific content is: 1. Proposal 1, SushiSwap builds a new website. The new website allows users to set their own slippage and transaction deadlines, and provides real-time price information. In addition, the new website aggregates Swap and liquidity mining. 2. The second proposal, SushiSwap will continue to update/add new liquid pools, and 9 new pools have been launched today. 3. Proposal 3, the community has voted to pass the SUSHI reward lock-up proposal "SUSHI Emission", that is, the reduction of SUSHI supply is officially effective. 4. Proposal 4, for the "BentoBox Advanced Lending Plan", the team has completed the design of the basic lending function and the construction of the oracle interface. The plan will eventually include functions: setting up an independent risk liquidity pool, innovative mortgage lending, setting up a platform to adjust the loan ratio adaptively, optimizing smart contracts to reduce gas costs, etc.