July 20, 2023: $crvUSD $100MM 🖨️💵
Plus notes on TriCrypto volumes, Lybra Finance $eUSD, and more
Happening Status: It’s
In this case it was $WBTC that did the trick.
For a bit more detail on why $crvUSD is a killer use case for WBTC…
July 3, 2023: WBTC Summer 🎆🗽
The first DeFi Summer is now but a distant memory. Nowadays the popular narrative is all about LSDs and LSD-Fi, thanks to staked Ethereum earning a raw rate of… :checks notes: … 4% Yesser, a whopping and wild 4%… a number that falls short of treasury bills… has got degens buzzing. LSD-Fi has seized the narrative and spawned a cottage industry of protocols built atop staked Ethereum.
Tri, Tri Again
See anything wrong with this picture?
TriCryptoUSDT is significantly more efficient than TriCrypto2 in an apples to apples comparison. So why is the classic pool 3x bigger but sees 12x the volume?
The short answer looks to be integrations. Most volume doesn’t come from retail transacting on the UI, but from various bots.
However, the gap is closing fast. Tricrypto will be flippening itself soon?
Lybra Finance
This is referring to Lybra Finance’s $eUSD, not the aforementioned Reserve Protocol’s $eUSD. And it is spectacular.
Just imagine if the pool got incentives…
Alongside $crvUSD, the rise of Lybra’s $eUSD has been tearing up the leaderboards, already ripping past $100MM in late June and now up to nearly $200MM to close out July.
We wrote more about Lybra Finance earlier this month.
June 6, 2023: $eUS-Depeg 🎭🎢
There is a silver lining to court eunuch Gary Gensler’s duplicitous fatwa against cryptocurrency. $crvUSD watchers had been eagerly awaiting some good ole-fashioned crypto volatility to test its soft liquidation mechanism. The twin lawsuits against Binance and Coinbase may have delivered:
Odds and Ends
Finally, some stuff to keep an eye on.
Plus there’s been a wonderful series by Llanero on veTokenomics. Worth a follow!
If you’ve been craving more Curve coverage, especially while I’ve been occupied at EthCC, reminder to follow @cryptouf’s What’up on Curve newsletter:
