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22 Apr, 4 tweets, 4 min read
Simply noted, DeFi is booming.

In Q1 2021, DEX volumes went parabolic reaching over $217 billion this quarter, up 236% from Q4 2020, and a whopping 8,012% from Q1 2020.

@Uniswap led the pack, with a few following behind

+ @PancakeSwap
+ @SushiSwap
+ @CurveFinance Image
The biggest winner overall in the DEX category?

+ @PancakeSwap

In lieu of the BSC boom in Q1, PancakeSwap grew its market share from 2% to 37% in the quarter. Image
Q1 also saw new DEX expansion...

+ @PancakeSwap becomes one of the largest DEXs by vol
+ @SushiSwap reached peak of 24% market share
+ @Bancor resurgence with V2.1 launch
+ @THORChain cross-chain liquidity protocol goes live
Read the full Q1 DeFi report from @RyanWatkins_ and @RobertoTalamas as they explore lending, stablecoins, asset management, and more messari.io/article/q1-202…

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More from @MessariCrypto

Messari Profile picture
16 Apr
Our @Bancor profile is updated with the latest on the platform and its native $BNT token

Bancor is a unique decentralized exchange (DEX) that uses $BNT as the common price token to fulfill pair trades among users and liquidity pools for hundreds of Ethereum + EOS tokens.
Consensus & Emission:

$BNT supply is elastic with Bancor V2.1. The protocol matches liquidity pool token deposits with minted $BNT and burns $BNT when tokens are withdrawn. Users’ $BNT deposits replace minted $BNT to control inflation.
$BNT launched on 6/12/17 in the largest ICO at the time - $153M

The initial 79.3M $BNT supply was allocated to:

50% - ICO Participants
20% - Project team, contributors, investors
20% - Bancor budget
10% - community development
Read 8 tweets
Messari Profile picture
15 Apr
In March, Uniswap did over $35b in volume, accounting for over 50% of total DEX monthly volume.
TVL reached an ATH over $4.7b, comprising almost 10% of the ~$48b locked on all DeFi-related platforms.
Uniswap V3 (slatted for May 5) will further improve DEX functionality in a variety of ways.

+ Concentrated liquidity: the ability for liquidity providers to make markets within customized price ranges, creating individual price curves.
Read 6 tweets
Messari Profile picture
14 Apr
Cumulative NFT sales surpass $1.1 billion in Q1 Image
Total Q1 NFT marketplaces sales exceeded $350 million with a strong portion coming from crypto art marketplaces like

+ @withFND
+ @SuperRare
+ @opensea
+ @ourZORA
Top NFT projects produced > $750m in secondary sales volume, with $350m in sales in both Feb and March, showing strength in continuous demand past initial purchase.



In the top 15 players, @nbatopshot took a clear lead MoM Image
Read 5 tweets
Messari Profile picture
26 Mar
RAI is a governance minimized non pegged stablecoin.

It is an attempt to create a more trust-minimized version Dai not pegged to the dollar.

It is solely backed by ETH and stabilized autonomously using a PID controller.

1/
At a high level RAI is similar to Single Collateral DAI (SCD).

It is an overcollateralized debt position for users that demand ETH leverage.
Users can open this position by depositing ETH into a SAFE (similar to Maker’s vaults) and minting RAI against it.

Users can redeem their collateral by paying back their RAI plus a borrow fee.

RAI’s token FLX is used to govern and backstop the system.
Read 9 tweets
Messari Profile picture
26 Mar
Float Protocol is a two token, partially collateralized non pegged stablecoin protocol.

FLOAT draws its value from its underlying basket of collateral (ETH), and is stabilized through auctions.

BANK backstops FLOAT, earns protocol profits, and governs the Float protocol.

1/
At the core of Float’s stability model is protocol controlled value (PCV) and dutch auctions.

Float protocol maintains a fund to stabilize the price of FLOAT called the “Basket” which holds a portfolio of cryptoassets - initially just ETH.
The Basket is owned by the protocol and is built up through FLOAT auctions.

FLOAT’s Target Price will start at an arbitrary number - initially $1.618 and will slowly adjust over time depending on the value of the basket relative to the value of the outstanding FLOAT.
Read 7 tweets
Messari Profile picture
26 Mar
We’re excited to announce that @NervosNetwork has joined the Messari Registry.

As a participating project, the Nervos Network team has committed to providing regular project updates.
Nervos is an open-source public blockchain and collection of protocols creating the basis for a universal internet-like network.
With a flexible, foundational blockchain called the Common Knowledge Base, the Nervos Network can support a new generation of interoperability through scalable layer 2 solutions to bring about an ecosystem of Universal Apps.
Read 6 tweets

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