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Will DEXs Recover? - CRYPTO FRIDAY

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Will DEXs Recover? - CRYPTO FRIDAY

Fabian Klauder
Dec 11, 2020
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Will DEXs Recover? - CRYPTO FRIDAY

newsletter.defitimes.io

Hey DEFI TIMES community,

the total month to date volume of all DEXs combined is at $4.7 billion. If this development continues, we will shoot below the last month’s volume for the 3rd time in a row. Many of you are probably asking yourself: are DEXs dead? Well, the monthly DEXs volume chart certainly doesn’t look pretty!

Let’s put things into perspective: DEXs are an essential part of the DeFi ecosystem. If DEXs die, DeFi will die too. So, the question you need to ask yourself is: will DeFi die? 

In our last CRYPTO FRIDAY thought piece, we looked at the altcoin season index. Let’s have a quick recap.

Notice a pattern if you compare the DEX volume with the altcoin season chart? It seems like DEX volume is highly correlated with how much attention currently is on altcoins.

Last Friday, we also talked about a potential trend reversal of the altcoin season index. If this turns out to be correct, the DEX volume might increase significantly again.

So why are we talking about this? There are several ways you can use this to your advantage. We will cover two of them today:

1) Become a liquidity provider

By becoming a liquidity provider, you earn trading fees when DEXs are being used. If you provide liquidity now, you might have a chance to earn more trading fees when the hype starts because you might be earlier than other LPs.

2) Buy DEX tokens

Buying DEX tokens might be a good idea if you bet on rising DEX volume. Kyber Network, for example, distributes a portion of its trading fees to all token (KNC) holders, just like a dividend. Obviously, the higher the DEX volume, the more you earn.

That’s it for today’s thought piece. As always, you can read on for the most important news this week!


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AAVE V2

Twitter avatar for @AaveAave
Aave @AaveAave
👻It's the moment we've all been waiting for... Aave V2 is live on mainnet! 🍾🎊 Head over to app.aave.com to try it out Check out the Aavesome new features, security & audit details, and more in the latest blog post: medium.com/aave/the-aave-…
medium.comThe Aave Protocol V2The Aave Protocol V1 launched at the beginning of this year, with the goal of unlocking value in DeFi and improving the user experience. The protocol quickly grew to over $1B market size in less than…
3:21 PM ∙ Dec 3, 2020
1,443Likes327Retweets

Aave V2 is now live on mainnet. It has the following features:

- Yield & Collateral swap

- Flash Loans Upgraded

- Repayment with collateral

- Flash liquidations

- Debt Tokenization

- Native Credit delegation 

- Batch Flash Loans

ETH - DAI as collateral

Twitter avatar for @haydenzadams
Hayden Adams 🦄 @haydenzadams
1/ 🔥🔥🔥 A maker governance proposal was just put forward voting to add DAI-ETH and USDC-ETH Uniswap liquidity tokens as collateral This would allow Uniswap LPs to a) increase the capital efficiency of their liquidity or even b) modify their exposure in a meaningful way.
Twitter avatar for @MakerDAO
Maker @MakerDAO
A Governance Poll has been added to the voting portal to signal support for/against: Adding the following collateral types - 🪙AAVE (@AaveAave) 🪙UNI-V2-DAI-ETH (@UniswapProtocol V2 DAI-ETH LP Token) 🪙UNI-V2-USDC-ETH (@UniswapProtocol V2 USDC-ETH LP Token) More 👇
5:23 PM ∙ Dec 7, 2020
273Likes40Retweets

ETH-DAI Uniswap LP tokens are now proposed as potential MakerDAO collateral. If this proposal goes through, the ETH - DAI token will be the first trading pair token to be used as collateral. 

Major Circle Update

Twitter avatar for @jerallaire
Jeremy Allaire @jerallaire
1/15 Circle is announcing and launching a major new wave of upgrades to our payments and treasury infrastructure for the internet. If you’re curious about what we’ve been up to, read the blog and this tweet thread.
circle.comCircle Launches Major Platform Upgrade Aimed at Bringing Digital Dollar Stablecoins MainstreamFostering new era of digital currency native payments and treasury infrastructure for internet businesses.
7:11 PM ∙ Dec 9, 2020
245Likes87Retweets

Circle is the company behind the popular stablecoin USDC. It recently announced a major platform update, which includes:

- fiat bridges

- payouts through “traditional means”, public chains, and Visa partner wallets.

- high yield 8.5%-10.75% APY savings accounts

Synthetix Spartan Council

Twitter avatar for @synthetix_io
Synthetix ⚔️ @synthetix_io
The Spartan Council has now been elected! Thanks to all the SNX stakers who voted, and make sure to follow along with all ongoing governance discussions in Discord.
blog.synthetix.ioThe Spartan Council has now been elected!Meet the first iteration of the Spartan Council!
5:20 AM ∙ Dec 10, 2020
93Likes9Retweets

The Spartan Council has now been elected. Seven active Synthetix community members will be approving changes to the Synthetix protocol.


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All information presented above is meant for informational purposes only and should not be treated as financial, legal, or tax advice. This article's content solely reflects the opinion of the writer, who is not a financial advisor.

Do your own research before you purchase cryptocurrencies. Any cryptocurrency can go down in value. Holding cryptocurrencies is risky.


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Will DEXs Recover? - CRYPTO FRIDAY

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