DeFi Digest: Weekly Alpha Edition #3

Latest DeFi Alphas in a Short, Packed Newsletter.

Jun 30, 2023

GM fam,

Welcome back to the third Weekly Alpha Edition of my personal DeFi newsletter! I'm thrilled to have you here.

Every Friday, I personally curate and deliver the most impactful DeFi news and the hottest yield opportunities straight to your inbox.

Thank you for reading Yanneth.eth Substack. This post is public so feel free to share it.

Vela Exchange (Arbitrum) - 17.493% when Staking VLP to earn esVELA
Radiant Capital (Arbitrum) - 59% APR with the loop strategy on USDC deposit/borrow
Kyber Swap (Optimism) - 178.18% APR on the OP/USDC pool
Velocore (ZkSync Era) - 12.04% APR on the USDC/USD+ stable pool
GMX (Arbitrum) - 4.05% APR on GMX stake

This Week in DeFi 🧙‍♀️

ZkSync release the ZK Stack for builders
Vela Exchange public access trading is finally live on Arbitrum
Polygon Plans To Merge PoS Chain With zkEVM
Optimism Unveils $40M Public Goods Funding Round
Coordinape Brings Web3 Reputation On-chain With CoSoul

Protocol of the week 🦄

Each week we talk about a DeFi protocol that is changing the game and adding great value to the ecosystem.

This week I want to write about Vela Exchange.

What is Vela Exchange?

Vela Exchange is a community-first, decentralized perpetuals trading platform that empowers users to join the DeFi movement by offering a wide variety of synthetic assets paired with excellent customer support – something typically not found on-chain.

Why use Vela Exchange?

Vela Exchange offers a superior trading experience compared to traditional centralized exchanges. It ensures equitable distribution of platform rewards, allows users to retain full control of their assets, and eliminates the need for a centralized clearing house.

Trade on Vela

In contrast to traditional decentralized applications and exchanges which often grapple with high transaction fees, sluggish performance, and other trading inefficiencies, Vela Exchange stands out as a next-generation solution. It effectively addresses common problems associated with Decentralized Exchanges (DEXs) such as front-running, price slippage, restrictions on asset types, and lack of risk management tools.

So, why use Vela Exchange? It provides an enhanced trading experience, bridging the gap between centralized and decentralized systems, offering both efficiency and security in your transactions.

Networks Availability

Vela Exchange is available on Arbitrum.

On-chain Analytics 🧐

At the time of writing, shortly following its launch, the current total volume on the exchange is approximately $55,026,263, with a total of 2.08k users.

In the last 24 hours, Vela Exchange generated $10,090 in fees, which I believe is quite respectable, especially considering it's so close to the launch date.

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Vela Exchange has its own token, named Vela. As of now, the price of Vela is $2.43, giving it a market capitalization of $27,302,888.

Dune Dashboard of the week 🧙‍♀️

Despite being in a bear market, DEXes have seen impressive activity, with a trading volume of over $13 billion in the last week.

This week's Dashboard is a DEX metrics dashboard that offers an abundance of intriguing data, such as rankings of DEXs by volume and the volume data for the last seven days.

That's it for this week. I hope you enjoy this new format. I will continue to share alphas and news each week, so don't hesitate to subscribe to the newsletter.

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Yannis' DeFi Digest