DeFi Daily Digest 2022-08-01: GHO Approved, Debt DAO Invested, And A Crypto ETF Will Be Launched.
What all crypto investors should know: digital assets aren’t insured by FDIC. New stablecoins, trading ETF, and blockchain Aptos were introduced.
Stablecoin
Lending
Dragonfly Capital led a $3.5M seed round for crypto credit protocol Debt DAO.
Debt DAO provides revenue-based financing for "cryptonative entities," which includes DAOs and protocols. It does this through a smart contract called "Spigot," which the company says "can secure borrower's on-chain cash flows to automatically repay lenders."
TradFi
Liquidity Mining
A quick overview of Yearn Finance's internal framework to quantify and assess DeFi risks, including its risk scores and open source code.
Regulation
FDIC’s reiterated that digital assets aren’t insured.
FDIC said several crypto companies had led customers to mistakenly believe that their products were FDIC-insured.
As of 2020, the FDIC insures deposits up to $250,000 per depositor as long as the institution is a member firm.
L1
Quench Your Craving Around MEV in the Market
What were the top arbitrages of yesterday?
Which sandwich attacks made the biggest victim?
Which tokens and liquidity pools provide opportunities for searchers?
What’s the overall trend regarding MEV in the market?
To help you answer these questions, we have highlighted key takeaways about yesterday’s arbitrage and frontrunning in our Arbitrage Daily Report and Sandwich Arbitrages Daily Report.
A 🥪 in the afternoon made the biggest surprise. The victim lost over $83,551 and became the top victim of the day. One week earlier, the 😢 had just registered his ENS name as the-lord-giveth-and-the-lord-tak.eth.
The 😢 was trying to swap 100,000 $USDT for $COMP when the 🥪attack happened, for which the trading volume of this transaction hit $15M. The 😈 extracted $80,913 at a cost of $2,637, with a 30x ROI.
This poor guy also deserves a mention, who suffered two successive attacks in 1h and lost $49,950. In the past 7 days, this reckless trader has already lost nearly $100K in five 🥪 attacks.
Another victim turned out to be a Token Millionaire with over $3.4M assets. This 😢 tried to swap 3.6M $USDC for $WETH, but unfortunately became the recipe of 🥪 chefs. In total, this guy lost over $14,626, including a cost of $4,319.
The profits made by those 🥪s surged by 3 times, accounting for 67% of the total profits. The robust growth of 🥪's profits largely pushed up the overall trading profits. Though the trading volume only saw a slight decline, the trading profits significantly improved.
Hot Tokens on Ethereum: $BNT. The top LP contributed to this token is a $BNT/$WETH pool. Top Transaction of the day: MEV 🤖 made $356 from $56 through a triangular arbitrage.
On BNBChain, though the overall trading volume saw a small fall, some spatial arbitrage did a good job with a 30% growth in its profits. The top transaction was also a spatial arbitrage. MEV 🤖 made a 4158x ROI by earning $1,206 from only 29 cents.
More arbs on BNB can be found in our BSC Daily Report.
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