January 12, 2021: DeFi Thrives in Darkness 🌑 + Euro SNX rewards 💶

Keep Ahead of the Curve

Broke: ✋ A dark day for crypto
Woke: 👉 New dark mode for Curve Market Cap

Although yesterday was a bloody day for cryptocurrency markets in general, it was great for the Curve fam:

Curve Finance @CurveFinance

@DeFi_Dad @UniswapProtocol @SushiSwap @dydxprotocol @synthetix_io We actually had $327M today

If nothing else, yesterday’s slide convinced several people of the power of #DeFi:

Brian Brooks @BrianBrooksOCC

Decentralized finance, or DeFi, is coming. The banking system and the rest of us need to get ready. https://t.co/moib5Mr3iS

Bryan Hubbard @BryanKHubbard

Get ready for self-driving banks by @USOCC's @BrianBrooksOCC #DeFi #Cryptocurrency https://t.co/mHAT9yLWnA via @financialtimes

WormholeOracle @WormholeOracle

Crypto market burning down makes great fertilizer for my humble yield farms 🚜👨‍🌾

Julien Bouteloup @bneiluj

Just a short note to say that @CurveFinance never goes down and that our LPs, even in these tough times, are still making *huge* profits.

At the moment, perhaps nobody is moving faster to capitalize on this interest in DeFi than Synthetix. Today they announced additional SNX incentives to Curve’s sole Euro pool.

Synthetix ⚔️ @synthetix_io

Introducing a new 8000 SNX per week incentive to provide sEUR liquidity to the new @CurveFinance Euro liquidity pool, which also pools EURS from @stasisnet!

blog.synthetix.ioNew sEUR incentive on Curve!Details for the new SNX incentive to contribute sEUR to the new Curve liquidity pool

Curve Finance @CurveFinance

The rate seems quite good btw: +22% APY from $SNX in that pool at the moment 👀

Synthetix ⚔️ @synthetix_io

Introducing a new 8000 SNX per week incentive to provide sEUR liquidity to the new @CurveFinance Euro liquidity pool, which also pools EURS from @stasisnet! https://t.co/IEdvrnBWAa

Since launching late December, the Euro pool hasn’t quite taken off like other new denominations. Typical volume for the $EURS pool is between $100 - $500K, while Ether and Aave pools have popped into the millions.

Nonetheless, with robust Euro DeFi offerings, imagine the possibilities to come:

𝘾𝙧𝙮𝙥𝙩𝙤 𝙏 ⚔️ Ξ ⟠ 👻 👨‍🌾 福 #DeL2Fi @CryptoToit

This is a great time to build and introduce $EUR based #DeFi Protocols, Products $ Services. Liquidity is available in the form of $sUSD and $EURS Get it done and get the volume pumping. HUGE market in Europe just sitting there and waiting for you....

Across the virtual pond, Synthetix also offers rewards on the $sUSD pool, which is currently the highest volume dollar pool on Curve. You can only get 6.7% SNX rewards there, versus 17.7% in the Euro pool, but $sUSD is picking up popularity due to the dHedgeOrg app:

scoopy trooples @scupytrooples

Unsure if all $SNX stakers know about the fantastic @dHedgeOrg dapp. If not, listen up. In a bull market, your debt position will increase bc synth traders are making money vs sUSD. It's bad if you're just holding sUSD or your farming isn't covering the increase in debt. /1

Synthetix is not done making moves. Founder Kain Warwick published a proposed roadmap for 2021, including a move to Optimistic Ethereum, streamlining contract upgrades to Synthetix v3, pushing further decentralization, and expanding into additional asset classes.

kain.eth @kaiynne

I just published Synthetix 2021. Which is nothing more than a veiled attempt to cling to a sense of power in this ever more decentralized world.

blog.synthetix.ioSynthetix 2021Synthetix 2021, it feels more like the title for a 80’s sci-fi movie than a roadmap post, I guess it kind of is. Imagine a future where everyone in the world is connected to one another by handheld devices that allow them to hold, trade and transfer every imaginable asset. This week science fiction…

Synthetix is driving so much exciting progress for DeFi in 2021, it’s hard to believe we’re just 12 days in!

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