Today in DeFi - Stabilize + TornadoCash, Lido ETH 2.0, Circles UBI

FollowΒ @todayindefiΒ to keep up with the latest DeFi news on Twitter.
Stabilize + TornadoCash


Stabilize, a stablecoin stabilizing project, announces that it will integrate TornadoCash, a stablecoin privacy service. Users who deposit stablecoins into Stabilize to earn interest will be simultaneously be using TornadoCash to add financial privacy to their deposits. Find out more in the Medium post.

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Lido ETH 2.0 Staking
Lido, an ETH2 staking project, has been announced. Lido allows users to stake 32 ETH and receive bETH - a tokenized representation of their deposit. ETH 2.0 Phase 0 does not have withdraw or transfer capability, so ETH deposited to it is illiquid until later phases. Lidoβs bETH allows this illiquid ETH to be used on ETH 1.0 as a liquid, fungible token.
Since the beacon chain deposits on ETH 2.0 get staking rewards, this bETH will increase in value over time, and as a token, it is liquid and composable, unlike Beacon Chain ETH. Tokenized bETH also addresses issues regarding yield farming competing with ETH 2 staking rewards:
βLido is intended to remove the adversarial incentives of ETH 2.0 by allowing users to stake their ETH while simultaneously participating in on-chain lending with bETH, thus providing them access to additional yield from other protocols and producing a more secure ETH network.β
Find out more in the Medium article.
Circles UBI

Circles UBI has just launched. Circles is a social money UBI project. Each person can mint up to 8 Circles a day, increasing 7% a year. Circles can be exchanged 1:1 between trusted friends.
You can try Circles at circles.garden Note that as part of setting up your account, you need to get verified by three other verified Circles users.
FollowΒ @todayindefiΒ to keep up with the latest DeFi news on Twitter.
Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned