Happy Friday, Blockfolians
It’s impossible to ignore the absolute surge in attention around DeFi. Catalyzed most recently by the massive price surge in Compound Finance’s COMP token, there is electric buzz in the air.
One of the things that has made DeFi so much more successful (or at least, at this stage, we can say less ruinous") than the ICO boom is that it has grown up around in-the-know insiders. In other words, it has had a chance to experiment and evolve around people who understand the risks and, because of that, throw themselves into some of the most interesting financial engineering experiments in decades.
Still, it’s hard not to look at much of what’s happening with a big dose of interest and excitement.
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Highly Relevant Reading
Beleaguered Wirecard CEO has resigned. Something tells us this story is still getting started…
Big Four consulting firm EY has launched an app that helps with crypto taxes
ParaFi capital has invested in buzzy DeFi platform Kyber Network
A Crypto.com upgrade could be the first step towards derivatives trading
Reddit has seen great results with their Ethereum-powered community tokens pilots and is now looking for scaling partners in collaboration with the Ethereum Foundation
More bullishness on DeFi
A (Relatively Small But Really Important) Number We Should Be Paying Attention To
That’s the amount of the increase in the total value locked in DeFi this week alone
If you’re a Millennial, get ready to be depressed. Better start Yield Farming.