Defi Farm #21 - September 18th Weekly Update

Hi everyone,

Welcome to the 21st weekly edition! Let's dive in 🤿

Last week I said to watch out for a high volatility week and this past week certainly met expectations. Unfortunately, it was all to the downside.Over the past 7 days:SPY: -5.69%BTC: -7.8% ETH: -19.2%

Major L1's:SOL: -5.0%AVAX: -11.0%Near: -10.8%Algo: -2.8%FTM: -9.6%Today I'll go over:- Interesting news from this week- Cool projects and protocols I came across this week- This week's interesting farm

Shorter edition today! I have a feeling that in the next few weeks we're going to be hearing about a lot of new launches, features, and exciting things. I imagine that a lot of folks in the space have been saving announcements so that they didn't have to compete with the Merge for attention.

If you ever want to chat with me and nerd out about defi/web3, I made some time available on my calendar each week. Feel free to schedule some time!

Interesting news and things from this week

Some cool stuff happened this past week. Here is just a small sampling.

• Magna raised a $15million seed round from some of the biggest names in web3 and web2. Magna helps teams manage token vesting. (Kinda like Carta but for Web3.)

• Securitize on Avalanche announced the launch of a fund that tokenized an portion of KKR's Health Care Strategic Growth Fund II

• Starbucks announced a NFT loyalty program built on Polygon called Starbucks Odyssey

• In a test, Chainlink's DECO was successfully used to verify off-chain bank account balances in a privacy-preserving manner as a way of reducing collateral requirements.

• Coinbase is starting to build crypto policy effort features right into their app.

• Compound launched an institution borrowing feature. This is a great read, it's pretty impressive what Compound has built.

• The Merge happened - NBD! This is a pretty cool website that you should bookmark. Has a ton of interesting metrics about ETH burning, gas fees, issuance, etc. In this move from PoW to PoS, ETH energy consumption has been cut by 99.95%.

Interesting protocols/projects I found this week

Return Protocol (link) - Not launched yet, but Return is building a way for you to stake crypto assets and redirect yield directly to climate projects.

AssetDash (link)- AssetDash announced an "Amex Rewards for NFTs" feature. Brands can offer deals, gift cards, and offerings to holders of specific NFT projects.

Interesting Defi Farm of the Week

If you're interested in stablecoin yields, you probably can't beat the USN-USDT farm on Ref Finance right now.

This week it's been hovering around 13.6%-15% APR this week.

Important Things to Know:

• Ref Finance is the largest DEX on Near.

• USN is stablecoin fully collateralized by USDT

• Near is a bit difficult to bridge to right now. Rainbow Bridge (one of the largest and most trusted bridges to Near) has been paused for the Merge.

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

-Andy