Today in DeFi - Binance WBTC, Curve HBTC Vote, DODO Gray Parrot
Binance Lists WBTC
Binance has just launched WBTC trading.
To understand why this matters, you have to understand WBTC. WBTC is a wrapped version of Bitcoin on Ethereum, custodied by BitGo. Why would anyone want to wrap their precious Bitcoin for an Ethereum token? Because you can do all sorts of things with it on Ethereum. Iβll leave the details to your imagination and the Google search bar.
So far converting BTC to WBTC has been difficult - you would need to either go through BitGo yourself by creating a KYC-ed account, or use RenBTC through Renbridge or Curve. By listing WBTC, Binance shortcuts that entire process and allows anyone to easily change their actual real BTC into WBTC, and back.
This is a gamechanger.
Shout out to @thetaseek for the tip-off on this - a great account to follow.
Curve HBTC Vote
Curve is now actively voting on whether to add support for hBTC through a hBTC/WBTC pool. This vote seems to be controversial as a significant number community members are voicing discontent, while a significant part of the pro-votes seem to be coming from the team members, who have a disproportionate weight of the votes currently.
To see the discussion for yourself, click here. This vote potentially has impact on both CRV rewards and Curve liquidity, so if you are a CRV farmer/holder I recommend taking a look, and potentially voting (after understanding the situation).
DODO Exchange Launches Liquidity Mining
DODO, a new AMM-based DEX, has launched its Liquidity Mining program dubbed Gray Parrot. DODO is a new exchange which purports to use a dynamic market maker to improve prices for traders and increase effective liquidity. Find out more about DODO here.