Defi Farm #19 - September 4th Weekly Update

ABY - always be yielding

Author

Andy Page
September 04, 2022

Hi everyone,

Another week of high volatility but ultimately most tokens are close to where we started the week! Let's dive in 🤿Over the past 7 days:SPY: -2.46%BTC: -1.1% ETH: +4.8% 

Major L1's:SOL: +0.7%AVAX: -6.2%Near: +7.3%Algo: +6.8%FTM: -1.4%

I'll try to keep it short this week because of the holiday weekend.Today I'll go over:- A new project I'm launching- Interesting news from this week- Cool projects and protocols I came across this week- This week's interesting farm

Web3 Sunday Brunch Club 

This week I'm announcing a new project. I'm launching Web3 Sunday Brunch Club - a series of small (capped at 20 students) cohort-based courses that cover an introduction to Web3. The first cohort starts in October.

This course will focus on building and getting your hands dirty with web3. In 4 weeks, you'll learn how to:

  • create your own crypto token

  • borrow and lend money on a defi protocol

  • mint your first NFT

  • create a DAO and vote on governance proposals

If you have any friends who are "crypto curious" but haven't taken the time to sit down and figure stuff out, this would be the perfect course to send their way.

Tuition: Free!Those who complete the course will receive a special NFT badge!(this NFT may or may not have a future use case of a future project. probably not. but  maybe ğŸ‘€)

Interesting news and things from this week

Lots of teams announced new rounds of funding this past week. Here are just a few plus some other cool stuff sprinkled in!

Interesting protocols I found this week

Meow (link) - Meow is a cash management tool for companies. From their dashboard, companies can easily put reserve cash to work by buying US t-bills or through safe USDC automated yield strategies.

Token Proof (link)- Their website says it best, "Tokenproof introduces safe token-gating solutions, enabling users to prove ownership of NFTs without connecting or even carrying their wallet." Now - instead of having to walk around with your expensive NFT on your mobile metamask wallet, you can use tokenproof, and keep that NFT in a secure wallet, but still prove ownership and get access to token-gated events/experiences.

Interesting Defi Farm of the Week

On Kyberswap there is a pool where you can earn 98.8% APR on a YUSD-sAVAX pool.

YUSD is the over-collatorized stablecoin of Yeti Fiance.sAVAX is the staked derivative of Avax (it appreciates in relation to AVAX at ~7.2%).

This APR might get diluted over the next few weeks but I expect it will remain pretty high. Rewards are paid out in a combo of Qi, Yeti, and KNC, none of which I am particularly fond of. You're probably best selling those reward tokens into a stable, ETH, or your major L1 of choice.

If you are interested in the yield but don't want AVAX price exposure, you can always borrow some Avax from Aave (pay about 6% interest rate for the loan), pair it with YUSD, and farm. Just watch for IL and your liquidation threshold.

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

- Andy