DeFi: May headlines

- Curve Finance Deploys Decentralized Stablecoin on Ethereum - crvUSD is an over-collateralized stablecoin backed by assets like USDC, Ethereum, liquid staking derivatives like Frax’s sfrxETH, and liquidity provision tokens of stablecoin pools (source)
- Cardano DeFi Total Value Locked Hits 400M ADA Milestone - in US Dollar terms, DeFi activities on Cardano had grown consistently since the start of the year when the TVL was just around $50 million (source)
- Tenet, LayerZero partner to drive cross-chain liquid staking adoption - Tenet’s network allows users to create projects and tokens which will now be integrated with LayerZero technology. The interoperability opens up users to the broader DeFi ecosystem across a variety of smart contract blockchains (source)
- DeFi space braces for possible increase in DAI savings rate from 1% to 3.3% - MakerDAO’s proposal to raise the DSR follows a series of rate hikes imposed by the U.S (source)
- Uniswap to Launch on Polkadot via Moonbeam Parachain - the decision follows a near-unanimous governance vote first championed by Blockchain at Berkeley, a student educational group linked to UC Berkeley, and brought back to life by Blockchain at Michigan, another educational organization (source)
- DeFi Project Bancor Hit With Lawsuit Over Impermanent Loss Protection Promises - investors claim promises fell short, adding that Bancor’s DAO was centralized and its liquidity pools operated as unregistered securities (source)



#DeFi #May2023 #trends