Today in DeFi - xSUSHI Call Options, Integral Trading Live, and More

xSushi Call Options

UMA @UMAprotocol

1/ @SushiSwap and UMA have joined forces to build an xSUSHI call option. This product is already live and tradable. The call option has a $25 strike price and expires on May 31st, 2021.

medium.comSushiSwap x UMA: Announcing Call Options for xSUSHITL;DR : SushiSwap and UMA have joined forces to build a xSUSHI call option token with a $25 strike price and expiry of May 31, 2021. Over $1mm of these tokens have been minted and pooled with $xSUSHI…

Sushi has collaborated with UMA protocol to create call options on xSUSHI. The strike price is $25 with an expiry of May 31, 2021. If you think SUSHI will be worth more than $25 you can buy these options, and if you think it will be below, you can mint these options with xSUSHI and sell them.

Sushiswap

Today in DeFi is sponsored by Sushiswap.

Sushiswap is a DeFi-Native DEX which features the best liquidity across many DeFi pairs such as YFI, SNX, and AAVE.

Sushiswap has recently launched Bentobox, gas-efficient lending platform for DeFi, as well as Kashi, a one-click margin-trading platform.

Check out Sushiswap at Sushi.com, or try the Bentobox/Kashi beta at staging.sushi.com

Integral Trading Live

Integral Protocol @IntegralHQ

Our $ETH - $LINK pool trading is live. Currently matches @SushiSwap & @CoinbasePro in depth by mirroring Sushiswap’s pool size * 1.25 = $250m, with our small ~$5mil pool. If we can sustainably do this with $5m, we could do a lot more with our $700m TVL.

integral.substack.comTrading has launched on ETH-LINKOur ETH-LINK pool is currently matching Sushiswap and Coinbase Pro in depth by mirroring Sushiswap’s pool size * 1.25 = $250m, with our small ~$5mil pool.

Integral Protocol is now live, with ETH-LINK trading. Integral is a new AMM which uses mirrored pricing to provide deep liquidity.

IKYK Aave Direct DAI Deposit Module

Sam MacPherson @sgmacpherson

Today @AaveAave is proposing the Direct Deposit Dai Module (D3M) to more closely join the Maker and Aave protocols. This will allow the Maker protocol to enforce a max var. borrow rate on the Aave DAI market. Here’s why I think this is a big deal. forum.makerdao.com/t/discussion-d… 1/

forum.makerdao.com[Discussion] Direct deposit DAI module (D3M)MakerDAO is the decentralized minter of the Ethereum ecosystem, pioneers in Decentralized Finance (“DeFi”). The MakerDAO protocol minted the DAI stablecoin asset, which acts as a hedging tool and medium of exchange directly on-chain. The cornerstone of DeFi is overcollateralization–always having mo…

MakerDAO is proposing to join forces with AAVE, allowing DAI to minted against aDAI (DAI collateralized in AAVE), this allows AAVE to manage its variable borrowing rate - if there is excessive DAI demand, additional DAI could be minted, reducing DAI supply constraints and easing borrow rates. In addition, this would allow DAI to be more easily expanded to L2s or sidechains that AAVE resides on.

You can discuss the proposal in the discussion above.

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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