DeFi Weekly Recap | 0N1 Force Sales the Most, Derivatives Ready to Boost
The DeFi market performed well and warmer this week, with 6.8% TVL rising.
Derivatives protocols had made some significant progress this week: Notional is already open-sourced its V2 smart contracts, while Paradigm introduced an insane leverage product design, Power Perpetual. dYdX updated its UI of trading, with more detailed and dedicated candle charts for traders. Ribbon, the asset managing protocol, announced a free-transfer function for different vaults. Pendle added Sushi LP tokens for its staking pools. Hegic revealed its data after the V8888 launched, however, the TVL of Hegic halved the most (-53%).
NFT and GameFi market stays booming. Despite the Axie Infinity dominating the sale, 0N1 Force became the most attractive NFT avatars this week, with a nearly 19,000% growth of sale ($39.4m). Famous avatar Meebits sales dropped about 10 ranks to #11 this week, however, the OG of Larva Labs, CryptoPunks still dominated the most volume of avatars sales this week.
We saw great amounts of funds flowing into game/NFT + DeFi derivatives this week. It seems more market Legos phenomenons are brewing. NFT fragment protocol Fractional raised $7.9m, and the famous game union of Axie Infinity, YGG, gathered around $4.6m, led by a16z. Audius starts to cooperate with Tik Tok.
Want to know more about what happened this week? Check out the latest DeFi Weekly by TokenInsight.