QDAO DeFi Weekly Update #17

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December 2, 2020

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Add: Anton Dzyatkovskii

Are you ready for another serving of hot news? QDAO DeFi became even better – more participants, more tutorials and more profits! The NEM and Spark airdrops are still to come, don’t forget. Check out all our updates right now!

Cryptocurrencies and DeFi coin market analysis

Do you think the Bitcoin rally is over? No, sir. Bitcoin took a short break, went down to $16,800 and rushed up with renewed vigour! $20,000? Easy! The crypto market has replied to Bitcoin and most altcoins are already striving upward.

The DeFi market is headed towards a new all-time-high and has already reached $14.5 billion in total value locked in DeFi. Most DeFi tokens are slowly but surely beginning to grow after the short-term correction of BTC. Here are the changes in price for some of the popular DeFi coins:

  • Chainlink: -5.94%
  • Aave: +6.90%
  • yearn.finance: +4.88%
  • Compound: -11.69%

The sky is clear for Bitcoin and it will finally break the price record. BTC has already reached the $19,650 mark and it has no intentions of stopping.

DeFi news 

There is a lot of news about DeFi. Here are the most important events of the week:

  • DeFi indexes lack diversification. They are over-exposed to individual DeFi assets and this doesn’t help people to see the full picture. Indexes are good for beginners in the DeFi market but if you want to earn big – step away from DeFi indexes.
  • Yearn Finance mergers. Andre Cronje’s company made several mergers during the week. The first one was Pickle Finance and next was Cream. The last ones were Cover and Akropolis. Yearn Finance is launching the era of mergers in the DeFi industry. The effect will be huge!
  • Filecoin goes DeFi. Another big player joins the DeFi market. The wrapped version of FIL can bring something new to the DeFi ecosystem. The gradual migration of crypto projects to DeFi is an inevitable step for survival, nothing more.

QDAO DeFi updates

Another great week for QDAO DeFi. We provided our beloved community with more video guides, new interest rates and the chance to participate in the airdrops! Here are our biggest updates.

QDAO DeFi raises interest rates

We are raising the interest rates from November 24th 2020 to February 21st 2021. Now you can earn even bigger amounts by simply keeping assets in the QDAO DeFi program. Check out the official announcement for more details.

NEM token airdrop

QDAO DeFi users will participate in NEM’s airdrop and receive XYM tokens. The bonus will be assigned in a 1:1 ratio to all XEM holders that have at least 100 coins on their Noah Wallet balance. Just click on the ‘Claim my coins’ button.

Spark token airdrop

QDAO DeFi users with XRP on their balance will get a share of Ripple’s Spark token air-dropped in December 2020. This is the native token of Flare, the new Turing-complete FBA network by Ripple Labs.

New tutorials

We’ve added new video guides to our YouTube channel to help you expand your crypto knowledge:

The latest stats from QDAO DeFi PULSE

Number of active users — 9296

Total amount of users’ funds: 

3092810.1398 XRP

1001.98291 ETH

187.41187921 BTC

16946090.54 ADA

…and more.

Current users’ interest balance: 

58273.050331 XRP

24.16941802336 ETH

3.740750515 BTC

243621.094995 ADA

…and more.

Number of withdrawals made: 8148

Want to be the first to hear QDAO DeFi news and updates? Visit our website and stay in touch with us on social media: Twitter, Facebook, Telegram, LINE and LINE 2 for the Japanese-speaking community.