Happy Tuesday, Blockfolians
The Lede
Welp, there’s a new number one in DeFi land - at least when it comes to total value locked.
Aave - the “money market protocol” has scooted ahead of Maker slightly, with $1.39B in TVL.
This comes just one day after Aave announced that it had received an Electronic Money Institution license from the UK’s Financial Conduct Authority.
For our money, Maya Zehavi put it perfectly: “the first round of regulated DeFi products.”
There is no denying how fast evolving this DeFi space is. Aave’s new license and the market’s reaction to it are testament to that!
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Highly Relevant Reading
ConsenSys has acquired JPMorgan’s Quorum blockchain
DeFi aggregator Bella has raised a $4m seed round
dYdX launches LINK perpetual exchange
New virtual automated market maker raises $1.8m led by Multicoin Capital
Community Commentary
There is much hype for this coming Jerome Powell inflation speech…
Wow. Tether doing more daily volume than PayPal.
A Really Big Number We Should Be Paying Attention To
$1 Billion
That’s the value of tokens on the Ethereum blockchain that are vulnerable to a ‘fake deposit’ attack according to new research
Final Thought
How does this guy possibly think he’s NOT meant for Crypto Twitter?