QDAO DeFi Weekly Update #31

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May 12, 2021

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Add: Veronica Zubrii

QDAO DeFi is showing great results! The last couple of weeks were full of exciting updates: our team is preparing to release the new QDAO DeFi interface and we are also continuing our quest to expand your crypto mind with guides and tutorials. Check out all the updates!

Cryptocurrencies and DeFi coin market analysis

Bitcoin went into a wide sideways movement in the range of $53,000-$59,000. Its dominance is steadily declining (at 42%), which opens the gateway for altcoins. The second largest cryptocurrency by capitalization, Ethereum, is steadily growing in price – at the moment, ETH is trading above $4,000.

The DeFi market continues to expand. TVL has already reached $150 billion. DeFi tokens are growing alternately. Here are the changes in price for some of the popular DeFi coins:

  • Chainlink: +9.9%
  • Aave: -15.9%
  • Uniswap: -12.2%
  • Compound: +0.2%

We can expect BTC’s dominance to drop even lower. But its price will remain above the $50,000 mark, at least, for now. This will allow altcoins to make some crazy gains.

DeFi news 

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

  • Hacks on Binance Smart Chain. We witnessed a few big hacks in the last two weeks. Spartan Protocol was the subject of an attack that led to a loss of $30 million for the protocol on 2nd May. A few days before, $50 million was stolen from the automated market maker platform Uranium Finance, on 28th April. DeFi remains a risky thing to deal with.
  • Rari Capital was hacked too. The thieves managed to drain out $11 million in ETH. However, Rari Capital allocated up to $26m in their developer fund to compensate the victims of hacks.
  • Uniswap v3 is here. The successful launch took place on 5th May. Over its first 24 hours of going live, v3 had already processed more than twice the volume that v2 saw in its first month.

QDAO DeFi updates

We are working hard to make QDAO DeFi something great! The last few weeks were highly productive. Here are our biggest updates.

QDAO DeFi’s new interface

We keep polishing the brand new interface of QDAO DeFi! Some final adjustments are needed before the presentation to our beloved users. The release will soon be announced.

The Golden Week celebration continues

The Golden Week is still ongoing! That’s why you can still get some QDAO tokens for absolutely free. Earn up to 8 QDAO by performing a few simple tasks!

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 users: 11667

Total amount of users’ funds: 

3299176.2334 XRP

1128.1680172 ETH

180.061163694 BTC

18991740.816 ADA

…and more.

Current users’ interest balance: 

77273.6567448 XRP

32.6914686955 ETH

4.0553282369 BTC

304327.48032 ADA

…and more.

Number of withdrawals made: 12,358

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.

QDEFIRATING.com is developed by Platinum Software Development Company – one of the most trusted and experienced engineering blockchain teams in APAC for DeFi developments.

If you want to create any DeFi dApp on any blockchain technology, such as Polkadot, Ethereum, Tron or Binance Smart Chain, we would be happy to give you a FREE 1-hour consultation and to share our experience with you.