The large, monolithic high quality of the week is the revelation that FTX lent lawsuit deposits (!!!) to Alameda analysis…who seemingly mislaid all of it? The unfold profitable FTX is (gulp) $10bn, in line with the WSJ. Like, everybody different I’m glued to Twitter for scraps linked the most recent.
The tweet supra from Brent Xu is the identical determination that we drew aft the sickness of 3AC: the tragic disaster of CeFi makes the assertion for DeFi.
As I texted my (normie) assemblage buddies contiguous astir the standard betwixt CeFi & DeFi:
My crypto isn’t with a centralized alternate, wherever you do not cognize what they’re doing with it. After I enactment wealth profitable a DeFi product:
1. I tin spot what they’re doing with the belongings bc it is linked the blockchain. There may be nary achromatic field.
2. There may be nary “pause withdrawals” fastener bc it is managed by an autonomous astute declaration and nary 1 tin alteration the code.
Even Binance is current embracing impervious of reserves, arguing that transparency is cardinal to fiscal market stability. A Dune dashboard places their on-chain holdings astatine $42bn. Good contracts are inactive higher, but it surely’s a begin.
For a bully distraction from the FTX collapse, we criminal to a illustration that reveals the declining magnitude of MEV income being squeezed retired of Uniswap implicit the previous six months. Miner funds have been overmuch increased profitable 2021 than 2022 adjoining although measurement numbers have been comparable. For example, Uniswap noticed $62bn of measurement profitable October 2021 which led to miner funds of $16.6m; whereas profitable Might 2022, Uniswap noticed $63bn profitable month-to-month measurement however miner funds have been lone $5.7m. Maybe merchants did a amended occupation of guarding in opposition to MEV?
The total dashboard, enactment unneurotic by @jhackworth, has a batch of enormous accusation linked MEV linked Uniswap, although every of it’s pre-merge.
DXdao* Month profitable Evaluation Hyperlink
Senators transferring guardant with SBF-backed measure aft FTX sickness Hyperlink
LUSD Hen bonds spot $35m profitable inflows however LUSD inactive buying and selling astatine $1.04 Hyperlink
CowSwap achieves 11% of aggregator market inventory implicit previous week Hyperlink
A caller batch of banned addresses for USDC is launched Hyperlink
ETH Lisbon Hackathon winners Hyperlink
That’s it! Suggestions appreciated. Simply deed reply. Written profitable Nashville. Whew, betwixt the midterms and FTX, it’s been laborious to propulsion distant from Twitter the previous fewer days- not adjoining counting for Elon and the modifications astatine Twitter itself.
Dose of DeFi is written by Chris Powers, with help from Denis Suslov and Monetary Content material Lab. Caney Fork, which owns Dose of DeFi, is just a contributor to DXdao and advantages financially from it and its merchandise’ success. All contented is for informational functions and isn’t meant arsenic concern recommendation.
