DeFi Digest: Weekly Alpha Edition #9
DeFi Digest: Weekly Alpha Edition #9
Latest DeFi Alphas in a Short, Packed Newsletter.
GM,
Every Friday, I curate and deliver the most impactful DeFi news and the hottest yield opportunities straight to your inbox.
DeFi Flash news 🗞️
PayPal USD: Boon for Ethereum but not decentralization.
MakerDAO Denies Users to Enter Spark Protocol Via VPN Ignites Debate
CoinGecko now has an index for crypto tokens alleged as securities
MakerDAO Jacks DAI Savings Rate To 8% For Spark Protocol Users
OlympusDAO’s ‘Cooler Loans’ Could Mean The End Of A Bull Market Icon
Layer 2 Network From Coinbase Seeks To Attract Users With ‘Onchain Summer’ Campaign
Kenyan Authorities Raid Worldcoin Warehouse In Nairobi
Mystery Wallet Burns Digital Assets Worth Over $8M
Aave DAO opens voting on proposals to reduce CRV exposure
Yield Opportunities 👩🌾
Radiant Capital (Arbitrum) - 3.37% deposit APY on USDT (No boost)
Silo Finance (Arbitrum) - 3.44% APR on Aura deposits
Exactly (Optimism) - 2.88% APR on USDC + OP - EXA incentive
Sturdy Finance (Mainnet) - 9.31% average APY when depositing WETH
Pearl Exchange (Polygon) - 23.26% APR on USDC/USDR stable pool
Stake DAO (Mainnet) - 39% APY on CRV staking
Dune Dashboard of the week 🧙♀️
Every week, I share a Dune Analytics dashboard that I primarily use for my research, to write new articles, and to gain insights into on-chain activities.
This week, I'd like to highlight a particularly interesting dashboard that compiles all the banned USDT addresses.
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Protocol highlight 🦄
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 Swell Network
Category: Liquid Staking
Ticker: $swETH
TVL: $83.57m
Network: Ethereum mainnet
What is Swell Network?
Swell operates as a non-custodial liquid staking platform aimed at offering an unparalleled staking experience. It streamlines the DeFi entry process and contributes to the continued success of Ethereum. Through Swell, individuals can generate steady yield by allocating their ETH, receiving an incentives. In exchange, they are given a liquid staking token (LST) that not only accrues interest but can also be used within the broader DeFi space for increased returns.
Where can I use my Swell token in DeFi?
When it comes to utilizing your swETH in DeFi, there are several methods. You can use Gravita to borrow against your holdings or stake them in protocols like Pendle to earn additional yield on top of your existing returns. For a comprehensive list of Dapps that support swETH, visit the ecosystem page on the Swell Network website.
Networks Availability
Swell is available on Ethereum mainnet.
On-chain Analytics 🧐
The current Total Value Locked of Swell stands at $83.4m.
Circulating swETH: 43,618.41
Active Stakers: 10,329
Validators: 1,397
Why use Swell?
I believe it's crucial for the Ethereum network to have Liquid Staking Derivatives (LSD) protocols that can capture some of the market share from Lido Finance. It's also essential to have new validators continuously entering the scene. Swell is one of the standout protocols that recognized the significance of DeFi composability with LSDs early on.
If you're looking to invest in LSD tokens and want to mitigate your risk, Swell serves as an excellent alternative to both Rocket Pool and Lido
Conclusion
Swell Network is a new Liquid Staking Derivatives protocol with immense potential to rank among the top in its category.
I believe that more DeFi Dapps will be built on top of Swell.
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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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