May 27, 2021: Alchemix + StaFi Rewards ⚗️💰
Roundup of so much great activity across the Curve ecosystem
As usual, Curve crew is crushing. Have you got your share of the FUD spoils?
A stunning number of people don’t recognize that DeFi does good in a bull market, and great in a bear market. As a result, Curve is on a blitz of activity this week. If you’re having trouble keeping up with it all, make sure to attend this upcoming AMA with Curve CEO Michael Egorov.
Here’s all the activity we’ve noticed of late.
Alchemix + rETH gauges
Two gauge votes passed quorum to provide rewards for the new Alchemix and rETH pools. We’ve discussed Alchemix and their wonderful self-paying loans before, a lending platform that saw nobody liquidated during the market turbulence.
The rETH pool is based on the token from StaFi, a protocol that unlocks liquidity of staking assets.
StaFi is built on the Polkadot substrate, and as a result has an impressive array of assets supporting protocols as diverse as Ethereum, Cosmos, and Keplr. Polkadot has been an underutilized tech stack until, let’s hope the addition of the rETH to Curve helps bring additional usage to the interesting protocol.
Their rETH pool is off to a ripping start, although the APY has calmed down from the usual initial surge. The pool also offers rewards in the form of the protocol’s $FIS token. As of publication, the rewards were at a juicy 41% rate.
D3Pool
A great discussion is going on in the governance forum about a potential new pool. With concerns about financial censorship of custodial stablecoins, the proposal would create another 3pool with popular decentralized assets DAI, LUSD, and USDP. Discussion on the forum is largely in favor of the concept.
In the proposal Charlie lauded the way these coins all held their peg during the crash. In fact, that’s an understatement. In the rush to get USDP and fend off the dreaded liquidation, the coin actually spiked above $1 throughout the crash.
Miscellaneous
Many more developments around the ecosystem. Here’s all that we caught, share anything you found in the comments.
For more info, check our live market data at https://curvemarketcap.com/ or our subscribe to our daily newsletter at https://curve.substack.com/. Nothing in our newsletter can be construed as financial advice. Author is a Curve maximalist, but has no stake in the other pools mentioned.