Yam Synths Launches With uPUNKS, UMA Scaling On Polygon, Alchemix Incident Appeal

Decentralise Daily #150

📰 Decentralise Daily #150

Decentralise is the daily DeFi newsletter breaking down the latest news and developments.

DeFi (Decentralised Finance) is a revolutionary movement built on Ethereum providing open financial tools for a global audience.

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📊 Market Highlights:

Yam Synths Launches With uPUNKS

Yam Synths is now live with uPUNKS.

Yam Synths is an easy to access platform unlocking the powerful capabilities of UMA synthetics.

uPUNKS tracks the median price of all Crypto Punk NFTs over the three month period.

Crypto Punk owners can mint and short uPUNKS to hedge their existing exposure. When prices drop they can rebuy and close their position, profiting the difference.

10,000 YAM and UMA are available as rewards for uPUNKS minters and liquidity providers over the next month.

uGAS, uSTONKS and a range of Yam DAO developed synthetic assets such as +ETH will be live on Yam Synths shortly.

UMA Scaling With Polygon

UMA has announced it will be bringing its synthetic asset infrastructure to the scalable Polygon sidechain.

This is one part of a broader strategy to scale to every EVM (Ethereum Virtual Machine) compatible chain.

Learn more.

Alchemix Incident Appeal

Alchemix have appealed for users who were able to walk away with debt-free alETH to return their alETH in exchange for ALCX and a to-be-determined utility NFT.

In the incident users were able to walk away with alETH without accruing the corresponding debt.

The incident was caused due to a miscalculation caused by the deploy script accidentally creating additional vaults.

The protocol is no longer at risk.

Read the full post-mortem.

🗞️ Previous Newsletter

Kyber Network Partners With Polygon, Aave and Polygon Rewards Extended, Iron Finance $TITAN Disaster