Today in DeFi - Binance Recovery Fund, Pendle V2 AMM, Trading BTC/ETH Volatility, and More...
Binance Industry Recovery Initiative
Binance led a $1b Industry Recovery Initiative (IRI) to fund web3 developments. Third-party firms and ventures including Jump Crypto, Aptos Labs, Polygon Ventures, Animoca Brands, GSR, Kronos, and Brooker Group have joined and contributed another $50m to the co-investment.
Pendle V2 AMM
Fixed-rated protocol Pendle announced a new AMM coming along with V2. The rebuilt AMM will reduce IL for LPs, increase capital efficiency by 200x, enable low-slippage trades, etc.
Maker to Add GNO as Collateral
Maker governance approved GNO as a new collateral type. The asset was initially proposed by Gnosis DAO, with the aim of generating 30 million DAI against GNO collateral and using that liquidity to boost the Gnosis Chain ecosystem.
$10M Fund for NEAR AMMs
NEAR R&D firm Proximity Labs and 3 NEAR-based protocols have announced a $10m developer fund. The fund will provide grants to developer teams that build on top of Orderly, Spin, or Tonic, which are decentralized trading protocols that rely on virtual order books.
Proposal: Increase Maker DSR
The Maker community proposes five options to adjust the DAI savings rate (DSR), which DSR determines the yields distributed to DAI holders.
The current DSR rate is at 0.01%, increasing the DSR may incentivize retention or increase DAI supply, which supports Maker’s liquidity position.
Intro to Volmex
Overview
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