Uptober 5, 2023: Black Adder 🖤🐍
Vyper 0.3.10 released, plus Steakhouse $wstETH rewards, $crvUSD all time highs
One comment we made at yesterday’s Graze was that there is a kind of “alfa” that derives from simply paying better attention to protocols than the broader market.
For instance, maybe if you didn’t follow things, then you may have been in disbelief about the nearly 15% bonus rewards in $wstETH on TriCrypto LLAMA, itself already earning nice rewards.
If you were following Curve closely, you may have already prepared yourself to pounce here, having already read about Steakhouse last week.
September 29, 2023: Steakhouse 🥩🍽️
Based on the following level of ecosystem activity, ask yourself, which token deserves the higher market cap. $BTC or $CRV? Here’s all the news that’s fit to print…crv.mktcap.eth is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
We hope you already flagged this thread on the forum, and caught that Steakhouse was planning on delivering an even juicier cut of sirloin to make up for a missing month.
Maybe you even checked the Discord to know it was safe to ape in early. Users relying on the UI missed the ‘alfa’ that these rewards exist even in an absence.
Merry alfa to those who celebrate…
Vyper: Black Adder
We bring this all up because of yesterday’s big Vyper “Black Adder” release, version 0.3.10.
It’s big news, to be sure. But it’s also news we covered one month ago.
September 8, 2023: Don't Step on Snek 👟🐍
We’re over a month out from the tragic Vyper exploit. On the crypto time horizon, it’s starting to feel like a far-off memory. What could have been a mortal wound to the project instead caused the compiler’s contributors to simply redouble their efforts. As a result, we’ve seen a ton of developments from the snekpit.
The new Vyper version features a heavy security focus, including multiple audits and an ongoing security competition:
On the feature side, the release also includes the full O(1) selector tables we’d previously highlighted:
Give it a look fellow coders. Next up, the snek take on modules?
$crvUSD
Meanwhile, a few more $crvUSD trends we’d been spotlighting finally landed.
Exciting news, which we’d been anticipating since as far back as July 3.
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.
We certainly see the utility in minting $crvUSD using Ethereum LSDs. Yet this market is competitive, we already see a ton of utility for LSDs elsewhere on the Ethereum mainnet.
Bitcoin as collateral is more interesting. BTC is a fairly useless token, with little to do with it other than bury it in your backyard and hope number goes up. We therefore surmised that the ability to mint $crvUSD using WBTC is a killer use case. A rare way to access glorious DeFi yield farming, all while having strong protections against losing a single sat thanks to the friendly liquidation mechanism. It’s an extraordinarily unique use case, and we’re not surprised to see the WBTC markets taking off, nor are we surprised to see $crvUSD smashing all-time highs.
“OK, big whoop, you may have foreseen the future a long time ago before I was born, but what have you done for us lately, huh?” scream the haters.
Well fine. Since you asked… here are the trends sitting in plain sight. But since you asked with such a filthy attitude, we’re putting tomorrow’s headlines behind paywall.