👩🌾️ Farm on blue-chips with Wild Credit & check out Aave’s stables markets! 👻
Also, learn about the new ETH ATH & check out the stories of the week + the governance watcher!
Welcome to DeFi Pulse Farmer - your guide to staying up on the latest and best trends in yield farming and beyond.
In this newsletter, we break down top stories, developments, and trends from the past week in tandem with two key farming opportunities to keep an eye on.
If you want to access the full DeFi Pulse Farmer experience to receive emerging Yield Farming opportunities sent to you throughout the week as part of our Alpha Tractor Series, or the DeFi Pulse Farmer Protocol Express, which consists of a weekly recap of APYs and new pools on major protocols and a highlight of an emerging opportunity, subscribe today.
💯 DeFi TVL holds 3 digits — On Monday and Thursday, the total value locked in Ethereum DeFi reached new all-time highs over $103B. Since then, the ecosystem has seen a slight drawdown to ~$101B, marking a decline of less than $1B on the week. All things considered, then, things have been steady since DeFi breached the long-awaited $100B milestone first notched on Oct. 21st! 🚢
Festive times, the future’s certainly bright here! 🎉🎃
🟠 ETH hits new +$4.4k ATH — Speaking of festive times, on Thursday ether reached new all-time highs over $4,400 USD for the first time ever. The price discovery comes as major tailwinds are blowing in Ethereum’s favor.
Ethereum just had its first “entirely deflationary day.”
Ethereum’s DeFi and NFT ecosystems are thriving, and in many areas are doing so in tandem.
Facebook just rebranded to Meta in an embrace of the metaverse + NFTs. And by far the best money for the metaverse and NFTs right now is … you guessed it, ETH.
Retail traders are piling into Ethereum-based dog meme tokens like Shiba Inu (SHIB) token. For this they’re acquiring ETH for gas and learning about Ethereum and DeFi in droves.
💸 This week’s best-performing assets — Since last weekend, we’ve seen notable runs from the following top DeFi tokens:
📈 FXS (+125.7%)
📈 CRV (+69.2%)
📈 CVX (+47.8%)
📈 RUNE (+45.1%)
📈 LRC (+36.5%)
👛 The $DPI pulse — The DeFi Pulse Index ($DPI) is presently trading at $338.42, down by 1.91% on the week.
Thank you to our sponsor DEXTF, an asset management protocol that makes managing and investing assets easier.
Accumulate and bundle yield generating assets with your favorite longs on DEXTF today.
🌾 Farm high yields with blue-chip tokens on Wild Credit!
Wild Credit is a permissionless lending protocol founded upon isolated lending pairs.
This isolation model avoids the main pitfall that Aave, Compound, and others face when they add new collaterals, i.e. the risk of insolvency increasing for each asset added to their “baskets,” so to speak.
In using isolated lending pairs, Wild Credit siloes risk to these pairs and mitigates any single asset from threatening insolvency on the wider protocol.
The grand result? A lending dapp where lenders can make single-side deposits with no fear of impermanent loss (IL) and borrowers can choose from a wider range of tokens than many other popular dapps support.
📌 Don’t miss DeFi Pulse’s Wild guide:
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How to yield farm WILD
There are two incentivized avenues for earning Wild Credit’s native WILD token right now: yield farming and borrowing, or you can earn yield via Wild’s Vaults.
Lenders/Borrowers, you can consider Wild’s Supply / Borrow dashboard where the project hosts its top lending pairs. Pick your pair, pick the asset you want to deposit, and then decide if/how much you want to borrow against your collateral.
Lastly, there’s Wild’s ETH and DAI Vaults, which are fetching depositors 29% APR and 47% APR respectively.
Note, during the writing of this post Wild Credit announced changes that will reduce the protocol’s WILD rewards rate. The idea? To support the project’s long-term sustainability. Keep that in mind before diving in!
Lastly, Wild Credit is a young DeFi protocol and should be considered experimental. Do your own research, and never deposit more money into any project than you can afford to lose!
Mastercard goes all-in on crypto services
TLDR: Payments giant Mastercard announces that soon any bank or merchant on its network will be able to access crypto services.
Nigeria unveils national digital currency
TLDR: Nigeria becomes the first African nation to announce formal plans for a central bank digital currency project.
Introducing EVM Equivalence
TLDR: Ethereum L2 project Optimism introduces the notion of EVM equivalence, the idea that L2s should move toward “complete alignment with the Ethereum Virtual Machine.”
$FIAT, What is it good for?
TLDR: FIAT DAO explains $FIAT, its native token that’s backed by fixed-income assets from across DeFi.
Robo Vault Post-mortem
TLDR: Yearn Finance developers helped DeFi project Robo Vault save dozens of millions of dollars.
Announcing Across Protocol
TLDR: Across Protocol, an L2-to-L1 bridging project, introduces itself to the DeFi ecosystem.
🥒 DeFi Pulse Power Tool: Stablecoin Jars on Pickle 🥒
Thinking about diversifying into some stables and doing some yield farming? Do so in style! Check out our sponsor Pickle Finance, who has a handful of stablecoin Jars that are offering depositors double-digit APYs currently!
Remember, Pickle Finance is a yield aggregator whose Pickle Jars compound depositors’ returns via cross-protocol yield strategies. The idea is to automatically and passively reap interest from top DeFi opportunities. Head over to the Pickle Jars to start farming L1 or L2 yields today!
Disclosure: This section is part of our paid promotional Partners Program; We’ve partnered with Pickle Finance to help educate and inform the community about the yield aggregator. As always, we’re committed to providing the entire community with quality, objective information, and any opinions we express are our own.
🚜 Farm double-digit stables APYs with Aave!
TRON founder Justin Sun just cashed out a lot of stablecoins from Aave.
This DeFi “bank run” of sorts has led to deposit and borrow rates spiking throughout Aave’s stablecoin markets. As such, Sun’s exit window can be a window of opportunity for us humble yield farmers!
In the very least, then, don’t sleep on Aave right now. These pronounced lending rates certainly won’t last forever, but they’re bountiful while they last!
Aave is as dependable as dapps come in DeFi. However, you should still approach all of your DeFi activities with caution. Never deposit more money than you can afford to lose into any project, no matter how interesting or reliable it seems.
Are you a regular user of Compound and keen on protecting your loan from liquidation? Then check out KeeperDAO’s innovative Hiding Vault system. Hiding Vaults are NFT-based collateral hubs that can cloak your crypto and automatically defend your loans from liquidation!
musa.eth @musatheredguard@gakonst exec passed https://t.co/NJrJwjl2bk
What to think of the big wigs coming to crypto right now? 🤔
The world’s biggest and most influential companies are diving like never before into crypto, Ethereum, DeFi, etc.
On the one hand, this isn’t surprising. This is all revolutionary tech that essentially bears endless possibilities for everyone and everything. In that light, it was only a matter of time ‘til these kinds of bittersweet days arrived.
Yet that said, those of us here who have been paving the way for mainstream crypto adoption should be prepared to stand our ground for true DeFi. Our open gardens can be powerful checks against the worst that closed gardens have to offer, never forget that!
All info in this newsletter is purely educational and should only be used to inform your own research. We're not offering investment advice, endorsement of any project or approach, or promise of any outcome. This is prepared using public information and couldn't possibly account for anyone's specific goals or financial situation. Be careful and keep up the honest work!