Weekly Recap!A week for ConstitutionDAO

TI Research

WeekFi is a DeFi weekly report launched by the TokenInsight team. It is published every Monday or Tuesday in the form of a PDF report, trying to show readers a complete picture of the DeFi market or NFT market in the past week.

gm / gn guys,

This week, despite the shrink of the market, we still saw innovations and momentum are brewing in the coming weeks. 

ConstitutionDAO, a big star of Last week. A decentralized group of more than 20,000 cryptocurrency investors plans to bid on a Sotheby's auction this week for one of 11 known existing copies of the U.S. Constitution. With $48m crowdfunding completed within a week, they have broken the record for the fast-funding project.  Although it failed in the end, the huge impact that it brings to the community is astonishing. It gets society’s attention to the re-evaluate the potential and possibility of Web3 could be.

DeFi infrastructures have been building quietly. Aave introduces its new lending market specially designed for institutions. Injective launched Astro, a liquidity mining program. Alpha Labs incubated its 3rd project: GuildFi, providing infrastructures for Metaverse. 

Pendle Finance, allowing users to lock tokens with future yield potential to receive those rewards, launched on Avalanche, with LP tokens from Trader Joe and BENQI eligible for staking. Ribbon Finance announced its latest token economic model.

We also found a very interesting DeFi game called Wolf Game. Players as farmer need to mint NFT sheep to produce wool tokens $WOOL. It is creatively bridging ERC20 and ERC 721 together with a simple mimic animation game.   

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TI Research

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