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In possibly the astir important SEC determination since erstwhile Jay Clayton informally declared Ethereum decentralized, Gary Gensler and the SEC have gone aft Kraken for its retail staking offering. ETH tanked, decentralized staking supplier Rocket Pool (RPL) mooned. The crypto manufacture is agreed successful admonishing the regulation-by-enforcement style, but this is simply a large enactment drawn by U.S. regulators. It’s go wide implicit the past fewer months that immoderate CEX “earn” programs volition autumn nether the SEC’s authorities going forward, but determination was immoderate anticipation that custodial staking, whose output comes from the protocol, could beryllium classified arsenic a exertion service.
That imagination appears to person died. Once again this is bully quality for DeFi. As damning arsenic this seems to Coinbase and Kraken, it’s hard to ideate a akin lawsuit against Yearn, Compound oregon Maker. Like the Celsius & FTX debacle, this volition propulsion the existing crypto manufacture much and much into DeFi. Existing CEX users are easier to person than wide retail.
The juiciest communicative this week was the play successful Uniswap governance implicit deploying to BNB Chain and what span to usage - Wormhole oregon Layer Zero. A16z caused immoderate contention by trying to forestall the deployment and by pushing Layer Zero successful assemblage governance. Ultimately, the BNB delployment connection passed - with respective of a16z delegated University blockchain clubs voting FOR (and against a16z). Uniswap governance is trying to beforehand tally the expiration of the v3 concern licence connected April 1 and forestall copycats from taking marketshare connected different chains.
Anyway, the illustration supra is from Messari’s Q4 study connected BNB chain. We sometimes get a small excessively Ethereum-focused astir here, and it’s important to retrieve determination are different ecosystems with tons of users. Uniswap v3 has done good everyplace it has deployed, but it volition beryllium absorbing to spot however it plays retired successful Binance’s backmost yard.
Maker moves person to launching peculiar money and different nonstop deposit Link
WSJ: The antithetic unit down Tehter, crypto’s pre-eminent stablecoin Link
Hegic gross surprises to the upside Link
Compound v3 launches WETH lending marketplace Link
ENS DAO executes 10k ETH bid done Cow Protocol Link
Lido announces v2 and “Next measurement successful decentralization” Link
MakerDAO integrates Chainlink Link
Aave’s caller stablecoin GHO launches connected Goerli testnet Link
DAO treasury management: sovereignty, fees and transparency [Chris Powers/Caney Fork]
Reactive Exchanges — SLAMM dunk with Superfluid [Miao/Superfluid]
On the aboriginal of shared sequencer sets [Ben Harvey/Decentral Park Research]
Cowswap exploit had minimal harm by plan [Anna George/Cowswap]
How I changed my caput connected the decentralized casino thesis (as a go-to-market strategy) [@mhonkasalo]
That’s it! Feedback appreciated. Just deed reply. Written successful Nashville, wherever it’s February, truthful there’s not overmuch to accidental astir anything. Oh the Super Bowl, right!
Dose of DeFi is written by Chris Powers, with assistance from Denis Suslov and Financial Content Lab. Caney Fork, which owns Dose of DeFi, is simply a contributor to DXdao and benefits financially from it and its products’ success. All contented is for informational purposes and is not intended arsenic concern advice.
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