UST Can Be Exchanged For BTC. DeFi Update - Week 21/03-28/03

Terra’s UST is now exchangeable for BTC thanks to the integration by Thorchain. Minswap becomes top DeFi protocol on Cardano. Cronos Ecosystem Grant Program revealed batch 2 of grantees.

 

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Key Takeaways 

• Terra (LUNA) stablecoin UST has been integrated by the Thorchain (RUNE) protocol and can now be exchanged for Bitcoin (BTC) natively.
• Minswap (MIN), a recently-launched DeFi protocol on Cardano (ADA), has surpassed SundaeSwap (SUNDAE) in terms of TVL, making it the top DeFi protocol on Cardano with a TVL dominance of 65.85% at the time of writing.
• Former Polychain Capital partner Tekin Salimi launched $125 million crypto fund, dao5, to focus on investing in early-stage protocols and blockchain companies. Dao5 is on track to become a fully founder-owned DAO by 2025.
• The Cronos Ecosystem Grant Program, which focuses on supporting early-stage projects on Cronos, announced its second batch of beneficiaries.
• This week’s price and volume indices were positive at +11.29% and +20.91%, respectively, while the volatility index was negative at -47.26%.

Highlights

• Euler proposes eIP6: Bringing Chainlink (LINK) at the ensure degree
• Loopring (LRC) price surges by 50% after GameStop NFT marketplace integration
• DeFiance Capital rescues $13.3 million at risk of being stolen
• Solana (SOL) stablecoin project Cashio (CASH) plummets to zero after multi-million dollar hack
• MakerDAO (MKR) dev insists DeFi protocol should leverage real world assets to scale
• Litedex (LDX) protocol set to be listed on LBank exchange
• SushiSwap (SUSHI) community proposes Swiss legal structure to limit DAO liability
• FTMCRAZY: Introducing the new hybrid ROI DApp project in the crypto world
• dxFeed implements Airnode API3 to present pricing information for a broad array of Web3 applications
• Crypto investor Katie Haun raises $1.5 billion for Web3 venture fund

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Check the latest prices on Crypto.com/Price

Top Token Metrics

 

Metrics	Top 20 DeFi tokensmarket cap	Top 100 DeFi tokens market cap
Current	$99.14B	$126.25B
7-Day Change	+6.82%	+8.86%
14-Day Change	+15.39%	+18.46%

 

 

 

DeFi Index Tokens

 

Metrics	Price	Volume	Volatility
Top Gainers	LRC (+28.14%) REN (+21.41%) UNI (+16.21%)	LRC (+210.80%) NXM (+57.50%) COMP (+36.45%)	LRC (+159.95%) UMA (+4.55%)
Top Losers	SNX (-1.43%)	MKR (-22.63%) CRV (-18.28%) SNX (-16.35%)	COMP (-69.18%) YFI (-63.79%) NXM (-54.44%)
Benchmark	ETH (+11.08%)	ETH (+11.08%)	ETH (-55.21%)

 

 

 

Notable Events

• Loopring (LRC) metrics surged after GameStop’s NFT marketplace integration

 

 

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Notable Events

• Trader Joe (JOE) shows decline in TVL, possibly due to the cooling down of the native token AVAX after Avalanche launch on Anchor Protocol

Souce: Crypto.com