Defi Farm #15 - July 30th Weekly Update

ABY - always be yielding

Author

Andy Page
July 30, 2022

Hi everyone,

I'm writing this email from the middle of nowhere in a tent in Canada on my hotspot so this will be a much shorter week. A lot of neat things happened in defi/web3 so I still wanted to get it out. Let's dive in 🤿Over the past 7 days:SPY: +4.1%BTC: +5.8% ETH: +9.4%

Major L1's:SOL: +8.1%AVAX: +3.1%Near: +2.6%Algo: +1.6%FTM: -1.5%Today I'll go over:- Interesting news from this week- Cool projects and protocols I came across this week- A new defi farming strategy of the week

Interesting news and things from this week

  • Near has created a fund targeted at converting ex-Harmony teams to come to Near and start building. It just launched, so no teams have announced if they're moving. I may have said this before but I think the migration of teams and devs is always important to watch.

  • With Swype, DAOs are now able to connect their multi-sig wallets directly to an FDIC-insured bank account. Through the Swype interface, DAOs can move funds to a USD bank account, create debit cards for team members, and set spending limits. This is pretty cool and a way for DAOs to more easily operate in the "real" world.

  • Mirror introduced web3 subscriptions. This allows readers to subscribe to publications and receive an email when a new post is published. While this may seem pretty elementary, I think the ability to build a wallet-based community/audience/following will unlock a lot of cool things we haven't seen (and weren't possible) in web2.

Interesting protocol I found this week

Unlock (link) - is trying to build the dev frameworks for membership-based NFTs. With their frameworks, your imagination is almost the limit for anything related to NFT-token gating features. They have integrations with Wordpress, Webflow, Discord, Shopify, and more.

Interesting farm of the week

Bastion is a borrowing and lending protocol on Aurora (an L2 of Near).

Bastion currently has positive rates for borrowing (paying you to borrow). There are many strategies you could use here. For example:1. Deposit stablecoins.2. Borrow (and get paid) a volatile asset like ETH or BTC3. Use those borrowed funds to earn additional yield on Trisolaris (the largest DEX on Aurora).

That's all I have for this week! Stay safe out there and as always, stay yielding!- Andy