An overview of what is happening in the crypto markets, summarised daily by Crypto Finance AG Senior Trader Patrick Heusser in the market commentary.
When Bitcoin is busy consolidating, I have time to check on my favourite sector: DeFi.
In my view, some pretty cool developments are taking place. Let’s start with yearn.finance (YFI):
Founder Andre Cronje is cranking up the heat with collaborations with CREAM and now also with SUSHI SWAP (see here).
This is becoming a real flow monster. I am pretty excited about it, and I believe it will shape the DeFi landscape in a big way.
Then we have another derivatives exchange, which is sort of leveraging their insurance fund with a mining scheme (see here). I have to admit, I do not completely get it. But when I do, I will make sure to post another update on it.
And then we have some “older” news. There are some interesting developments in the decentralised futures/derivatived exchanges and their concepts. An interesting one I was recently made aware of by a trading colleague is the perpetual future from Synthetix. Its major difference is that it is not a peer-2-peer concept, but a pool. The steering mechanism is very similar to the peer-2-peer perpetual futures – the funding rate – but for the Synthetix perpetual future, this rate can go/be really high. Read more about it here.
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