ETH ATH, YFI Buyback and Minting and Sergey Nazarov on the Coming DEFI Boom

Decentralise Daily #88

Jan 20, 2021

Decentralise Daily #88

Decentralise Daily is the only DEFI and Ethereum newsletter written seven days a week.

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Today we have updates from Yearn Finance, Ethereum’s Berlin upgrade, and Chainlink’s Sergey Nazaroth.

Market Highlights

👷 Yearn Finance Buyback and Build

banteg @bantg

BABY proposal has passed with 99.44% in support

Yearn Finance’s Buyback and Build proposal has passed with 99.44% support.

YIP-56 replaces YFI staking rewards and will build a treasury for governance to reward contributors and grow the protocol. The Snapshot vote can be found here.

Yearn recently announced the v2 launch, and as of today the USDC, DAI, and HEGIC vaults are live.

Displayed APY will increase following the completion of the first harvest cycles, here’s the most recent modelling:

Andre Cronje @AndreCronjeTech

v2 .@bantg

💰 YFI Minting

banteg @bantg

Minting proposal is almost ready, it's amazing to see it evolve from a controversial idea into a definite and fleshed out plan within days.

Alongside Buybacks the community has been debating minting new YFI to cover operations costs, currently borne by developers.

According to Banteg we should expect a fleshed out proposal in the next few days.

Catch up with the long community discussion on the topic here.

🥧 PieDAO

Decentralise is sponsored by PieDAO, the community governing tokenised ETFs.

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🚀 ETH ATH and Berlin Upgrade

trent.eth @trent_vanepps

berlin upgrade client readiness at ATH LFGoooooo 🚀🚀🚀🚀

James Hancock 🏗 @JHancock

Nice Update to the Readiness Checklist. Look at all that sea of green. ✅✅✅✅✅ 👀 Code merged into Participating Clients 👀 https://t.co/iR9fN2rkyx

ETH made a new all time high of $1438 on several exchanges.

But that wasn’t all.

A handy visualisation from ETH1 hardfork coordinator James Hancock shows that the main clients are now almost ready for the core EIPs scheduled for the upcoming Berlin upgrade.

Catch up with the EIP discussion.

🔗 Sergey Nazarov On DEFI Mass Adoption

Sergey Nazarov @SergeyNazarov

Global financial markets seek yield, want to avoid counterparty risk and fear rapidly rising inflation from unprecedented money printing. #DeFi consistently provides superior 5%+ yield, transparency via blockchains and acts as a hedge against inflation. open.spotify.com/episode/7n2EaJ…

Chainlink Co-Founder Sergey Nazarov laid out his vision for DEFI mass adoption on the Ground Floor Consensus podcast.

Superior yield and flight from inflation will bring a boom of new capital to the ecosystem.

🗞️ Yesterday’s Newsletter:

Ethereum Growth, Uniswap Grants Program, and the Upcoming Berlin Hardfork

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