Monday, 29 November 2021

Market Summary

Market Summary 29 November 2021

Bitcoin Price: $57,274.88 (+4.67%)
Ethereum Price: $4,294.78 (+4.87%)

 

Yield Strats #36 – DAO Staking, UNI V3 LPs & Leveraged Yield Farming

  • FIAT DAO provides fixed income on DeFi assets with access to leverage and secondary market liquidity. Users first deposit a supported collateral asset into its respective pool. The protocol then prices the deposited collateral via a discounted cash flow calculation. Users can then mint $FIAT against the principal value of their collateral per the determined pricing. They are then allowed to redeem their $FIAT, either to pay down their collateralized debt position or to acquire the cheapest-to-deliver collateral asset in the protocol vault. It’s worth noting that FIAT is currently distributing tokens via liquidity mining, and their fixed income product is not live yet. 
  • Popsicle Finance Farm: Sorbetto Fragola is a passive Uniswap v3 LP manager. Simply speaking, Uniswap v3 allows LPs to select a designated price range to provide liquidity in. As a user, you would ideally want your funds to always be in range to maximize profitability and fees earned. A liquidity position is in range if current market price is between the lower and upper bound of a user’s selected price range. 
  • Francium Protocol is a leveraged yield aggregator built on Solana. Francium Protocol aims to provide diverse yield via levered strategies. User can open leveraged positions on multiple strategy sets such as portfolio management, yield farming, algorithmic trading strategies, and more.

 

US Bitcoin ETF favors Australian approval, but Aussies need to go further

  • A success story out of a market like the U.S. certainly sheds a positive light on the prospect of Bitcoin ETF across the globe, and bringing exposure to Australian institutions stands to be a boon for both Bitcoin as well as the nation’s economy. More importantly, this has provided an opportunity for Australia to take the lead on financial innovation and bring cryptocurrency wholly into its financial flock.
  • And, for the most part, Australia’s legislators agree. A recent report published by the Parliament of Australia’s Select Committee on Australia as a Technology and Financial Centre proposed the framework that puts Australia on a level playing field with the U.S., the United Kingdom and Singapore.
  • With that framework in place and following the success of BITO, Australian fund management company BetaShares has launched its Crypto Innovators ETF on the Australian Stock Exchange (ASX) under the ticker CRYP. Exposure to the fund allows investors to track various crypto-focused companies, based on the Bitwise Crypto Industry Innovators 30 Index. The index’s core portfolio consists of major crypto entities such as prominent cryptocurrency exchange platform Coinbase, Bitcoin mining company Riot Blockchain, and Michael Saylor-led business intelligence software firm MicroStrategy.
  • Essentially, by holding company shares rather than particular crypto assets like Bitcoin and Ether (ETH), BetaShares’s ETF can provide interested clients with a unique opportunity to participate in the booming digital asset market without having to physically purchase any crypto directly. In fact, BetaShares claims that 85% of its index looks at firms that derive a bare minimum of either 75% of their revenue from the crypto market directly, or alternatively possess at least 75% of their assets in direct crypto holdings. This stands to maximize long-term returns as Bitcoin matures but also minimizes the shock of a market reversal, which many believe is virtually inevitable.

 

Bank of France official: Existing regulatory frameworks ‘constrained’ by DeFi characteristics

  • A senior official for France’s central bank said earlier this month that regulators in Europe need to more directly supervise decentralized finance (DeFi).
  • In a speech from November 19 that was published Sunday by the Bank of International Settlements, Denis Beau, first deputy governor of the Banque du France, primarily focused on the development of central bank digital currencies (CBDCs) and his institution’s pilot program in this area. France’s central bank is also a participant in the long-term project to potentially introduce a digital euro, an initiative being spearheaded by the European Central Bank.

 

Decentralized exchanges near $100 billion in monthly volume for November

  • Monthly data for decentralized exchanges (DEXs) indicates that the ecosystem has seen nearly $100 billion in volume for the month of November.
  • According to The Block’s Data Dashboard, the total for November is approximately $99.5 billion as of November 28. Monthly volumes have climbed since hitting a low for the year of $56.35 billion in July, with the November figure surpassing October’s $89.15 billion.

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