Today in DeFi - Deposit Contract Live, Percent Stuck, And More

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Deposit Contract Live

vitalik.eth @VitalikButerin

ETH2 deposit contract released:

blog.ethereum.orgeth2 quick update no. 19Contract deployment Genesis deposits Bootstrap consensus tl;dr v1.0 specs released 🚀 v1.0 spec release Today, we released v1.0 of the eth2 specs, including the mainnet deposit contract address – 0x00000000219ab540356cBB839Cbe05303d7705Fa. eth2 will have a MIN_GENESIS_TIME of 1606824000 (or for thos…

ETH 2.0 Deposit Contract is released and live.

You can view the status of the deposits and deposit ETH yourself at the Eth2 Launch Pad. Note that ETH sent to ETH2.0 will not be withdrawable or transferable until later phases - so think carefully before you send.

Evan Van Ness @evan_van_ness

Ethereum's proof of stake launch ("eth2") scheduled for Dec 1 🚀

Besides the Deposit Contract, the genesis block for the Beacon Chain - ETH 2.0 Phase 0 - has also been scheduled, with Evan Van Ness reporting it as being planned for December 1st.

Percent Funds Stuck

Percent Finance @PercentFinance

Users funds on our platform amounting to ~$1m are stuck in money market smart contracts Reaching out to @WrappedBTC and @circlepay/@coinbase respective teams to help us make affected USDC/WBTC holders whole Read Below:

Approximately $1M of user funds in WBTC and USDC are stuck on Percent Finance, a fork of Compound Finance.

Percent Finance @PercentFinance

1/ A brief technical explanation: The three markets that are frozen use an older style of CToken. All others use a new style. Both were copied from Compound as part of the fork.

From Percent’s explanation, it sounds like they made a technical error while copy-pasting Compound’s code.

Forks of projects can legitimately add value, such as Sushi is doing with its incentivized pools, and Snowswap is doing by swapping yield-bearing coins. However, I generally find that straight copy-paste forks of projects tend to provide less value, and often have weaker developers behind them.

If you do farm or participate in copy-paste forks of popular projects, make sure to do your diligence, and only use funds you may be prepared to have “stuck”.

DEV Farming

Dev Protocol @devprtcl

The Dev Protocol Geyser Liquidity Program is now live. This Geyser round ends on February 3, 2021. $DEV Get started 👇 Guide: docs.devprtcl.com/liquidity-prog… Interface: stakes.social/liquidity

DEV Protocol, a staking reward project, now has a liquidity mining initiative. Dev Protocol is a project that aims to reward open source development.

AXS on Binance

Axie Infinity @AxieInfinity

✨ AXS is live on @binance! 🔷 This is a momentous day made possible by the Axie community and our stalwart allies-- thank you! Our quest is just beginning. 👇 The details axie.substack.com/p/axs-listed-o…

AXS, the Axie Infinity governance token, is now live on Binance. AXS recently did an IEO on Binance Launchpad.

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Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned