This Week in DeFi – March 11

For the DeFi community

This week, Kyberswap DEX was released on Arbitrum, and we continue to strive to avoid high fees for users when the Ethereum network is congested. Kyberswap is currently available on Ethereum, Polygon, Avalanche, BSC, Fantom, and Cronos, making it one of the most widely available DEX.

🚀 KyberSwapDEX aggregator begins integration with L2 scaling solution @OffchainLabs #Arbitrum Communication network
Exchange tokens #KyberSwap At the highest rates, at faster speeds and lower costs!

🔄 Trade now and earn: https: //t.co/Yl4MTlr0di

📖 Details: https: //t.co/ksSu1YjQkt pic.twitter.com/sUI00hnsk5

— Kyber Network (@KyberNetwork) March 7, 2022

The Avalanche Foundation has launched a multiverse incentive program, offering up to $ 290 million in AVAX to facilitate the development of subnets and app-specific blockchain instances. This program complements Avalanche Rush, a DeFi-focused incentive campaign built on Avalanche’s C-chain that rewards developers.

I am very excited to share the launch of 1 / Avalanche Multiverse. This is an incentive program of up to $ 290 million focused on accelerating subnet adoption and growth, a technology unique to Avalanche that is ready to become the next growth engine for crypto. /🧵 https://t.co/nsKMlf428u

—Emin Gün Sirer 🔺 (@ el33th4xor) March 8, 2022

Solana-based Cega has announced a $ 4.3 million seed round led by the Dragonfly capital. Cega helps Solana bring new exotic derivative products by starting with option contracts and developing more complex products from there.

1 / Cega is excited to announce a $ 4.3 million seed round led. @dragonfly_cap With participation from @PanteraCapital, @coinbase, @AlamedaResearch, @SolanaVentures Other https://t.co/Nr8jEyKEcl

— CEGA – Adopted! (@Cega_fi) March 8, 2022

Wirex Wallet also integrates Paraswap to add native trading capabilities to mobile wallet applications and provide fee-free swaps on the platform. The Wirex wallet also recently added cross-chain bridging through integration with Celer’s cBridge application.

We are pleased to announce that we have partnered with a DEX aggregator. @paraswap make #DeFi It’s easier than ever to access! Using Paraswap’s market-leading pricing algorithm, #WirexWallet Users will benefit from zero commission swap between tokens! https://t.co/VMUErdgT36 pic.twitter.com/0zzA9exfMs

— Wylex (@wirexapp) March 8, 2022

As DeFi continues to mature, the volume of specific chains and projects as a whole may decline from the high water mark set in 2020 or 2021. Leading companies that develop applications that we are familiar with today, such as Aave and Uniswap, continue to integrate their brands. There are enough warchests that are recognized and can continue to innovate beyond the original domain.

If simple DeFi use cases are chosen with low performance, existing players will be the reliable providers for their services, reducing the incentive to compete in these domains. Successful projects need to increasingly rely on truly innovative protocols or services to invest and attract attention, and venture capital resources have seen dozens or hundreds of similar sales, and then investment criteria. To be strict. Complex visions and executions for new DeFi projects require in-depth knowledge of existing products and development practices, which can further reduce the raw number of projects attempted.

Fortunately, the reduction in quantity may be associated with an overall improvement in the quality of new DeFi innovations. As the crypto market warns of another down period, we could see another quiet and powerful period of innovative development without much fanfare, unlike the period that led to the DeFi explosion in the first place. .. No matter what happens, keep an eye out for the next big thing. If you keep watching, hits will continue.

Thanks to our partners:

Total value is locked: $ 74.4 billion (down -4.57% from last week)

DeFi market capitalization: $ 11.402 billion (down -3.76%)

DEX Weekly Volume: $ 1.365 billion (down -28.42%)

DAI supply: 9.41B (2.06% increase)

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Alex is a Circle content writer with experience at technology startups, Fortune 500 companies, and a freelance writer and analyst. His interests include cutting-edge technologies such as blockchain, energy, supply chain, transportation and urban life, and he has been in the crypto community since 2014.