QDAO DeFi Weekly Update #22

Clock

January 6, 2021

User

Add: Anton Dzyatkovskii

Welcome to 2021, QDAO DeFi lovers! We’re happy to see you all in a good mood and in good health. The New Year holidays have just ended but we are ready to share some interesting updates! Jump in! 

Cryptocurrencies and DeFi coin market analysis

The crypto market is in a zero-gravity zone now. We saw a massive rise to $34,500 for Bitcoin and $1,150 for Ethereum, followed right after by a colossal drop for Bitcoin to $29,000. At the time of writing, the BTC price was holding above the $31,000 mark but the smell of correction is felt in the air.

The DeFi market is performing well these days. The total value locked in DeFi sees its highest point at $17.8 billion. Tokens have begun to grow too. Here are the changes in price for some of the popular DeFi coins:

  • ChainLink: +16.58%
  • Aave: +41.71%
  • yearn.finance: +4.56%
  • Compound: +14.73%

The situation in the market can be called “grab and pray”. Altcoin began to boom right after Bitcoin but the main cryptocurrency seems to be preparing for the correction.

DeFi news 

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

  • ETH price finally overcame the $1,000 mark. Of course, BTC helped it to surpass the long-awaited height but we see how Ethereum 2.0 is already bringing positive results for the network.
  • Cover Protocol lost 97% of its price. Just before the New Year, a suspected hacker exploited the Cover staking protocol, inflating the token supply by printing over 40 quintillion “coins”. He managed to drain out over $5 million. The token price dropped almost to zero but the project management team came back with a compensation plan.
  • The times of high ETH fees are back. Recently, fees in the Ethereum network grew to the August levels, when DeFi projects were booming hard. Aavegotchi even had to postpone their NFT game launch. Now, fees remain inflated.

QDAO DeFi updates

Our team is full of energy and ready to make QDAO DeFi a better place for everyone! Here are our biggest updates from the last week. 

Increased rates

We want to remind you that QDAO DeFi substantially increased its deposit rates for all users. This is the best time to earn passively, up to 18.9% APR! Check out all the rates:

Weekly updates

The QDAO DeFi team wants to share as many updates every week as possible. But the development process usually takes months. That’s why we’ve decided to share updates every 2 weeks instead of every week.

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 — 9786

Total amount of users’ funds: 

3229546.2532 XRP

939.8641220818 ETH

182.9837851909 BTC

17417452.7250 ADA

…and more.

Current users’ interest balance: 

61072.8321742 XRP

23.63145988 ETH

3.623794605 BTC

323986.79123 ADA

…and more.

Number of withdrawals made: 9054

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.