DeFi Digest: Weekly Alpha Edition #5
DeFi Digest: Weekly Alpha Edition #5
Latest DeFi Alphas in a Short, Packed Newsletter.
GM fam,
Welcome back to the fifth Weekly Alpha Edition!
I'm thrilled to have you here.
Every Friday, I curate and deliver the most impactful DeFi news and the hottest yield opportunities straight to your inbox.
None of the information in this newsletter constitutes financial advice. While I personally use most of the protocols that I discuss, it's important to understand that they involve substantial risk. Don’t invest what you can’t afford to lose
Yield opportunities 🧐
Beefy Finance (Optimism) - 11.35% APY on the SNX LP strategy
Beefy Finance (Optimism) - 5.61% APY on wstETH
Velodrome Finance (Optimism) - 38.11% APR on msETH/WETH stable pool
MUX Protocol (Arbitrum) - 28.45% APR when staking MUXLP
KWENTA (Optimism) - 38.32% APR when Staking KWENTA
This Week in DeFi 🧙♀️
Arbitrum-based Rodeo Finance exploited for the second time, $1.5M stolen.
Open-source advocates launch OP Stack testnet to fund public goods.
Crypto Twitter Reacts to Arkham’s New 'Dox-to-Earn' Intelligence Exchange.
Lybra Finance Will Unveil V2 Documentation, Preparing Users for Upcoming Testnet Launch
$GHO (AAVE Stablecoin) is expected to be available on July 15th, around 5:30pm CEST (Paris time).
Multichain addresses were drained for a total of $126M
Google Play made a big change in policy -- apps and mobile games can now integrate NFTs
Stani, the founder of AAVE and Lens Protocol, will announce Lens v2 at EthCC.
Polygon has announced new V2 tokenomics in a blog article.
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 Beefy Finance.
What is Beefy Finance?
Beefy Finance is a decentralized, multi-chain yield optimizer platform that allows its users to earn compound interest on their crypto holdings.
Networks Availability
Beefy Finance is available on most EVM-compatible chains and continues to expand its strategies.
On-chain Analytics 🧐
The current Total Value Locked (TVL) of Beefy Finance stands at $219.68 million across all networks. Polygon takes the lead, closely followed by Optimism and Arbitrum.
The price of the BIFI token has been stagnant since mid-June and is currently sitting at $341.47 per token.
Why use Beefy Finance?
I personally utilize Beefy Finance due to its high-quality strategies. At times, I simply want to earn yield on my LSD tokens or stablecoins. Beefy is the platform I prefer when it comes to finding straightforward or more complex strategies, without the burden of excessive work.
However, with Beefy, you are interacting with multiple smart contracts which inherently carries a high risk. The strategies I use have been audited, but I don't believe that this completely eradicates risk. The most effective measure you can take is to conduct thorough research and never invest more than you can afford to lose.
In conclusion, if you aim to automate your DeFi strategy, Beefy serves as an exceptional DeFi application. The platform's governance is highly active and even allows you to propose your own strategies.
Dune Dashboard of the week 🧙♀️
As we are all aware, there's speculation about a potential Metamask airdrop. Personally, I don't foresee this happening before Infura - the backbone of Metamask - decentralizes with a governance token. I believe this would be a natural course for ConsenSys to pursue.
This is due to ongoing debates about Infura 'controlling Ethereum', even though such assertions may not be entirely legitimate. Nonetheless, these concerns exist, and the introduction of an Infura token could provide an avenue for the community to influence its direction and decentralize it from the hold of ConsenSys.
This would contribute to a healthier ecosystem.
That being said, I was genuinely intrigued by the swap activity on Metamask. So, I discovered this insightful dashboard brimming with interesting data.
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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