Data and analysis by Danning Sui

The DeFi User Base Overview

By August 10th, around $5B USD had flooded into DeFi, with a high correlation to the recent introduction of liquidity mining/yield farming mechanisms. In the following chart, we see that cumulatively, DeFi user base has grown to 289,072 unique addresses (excluding the double counting of overlapped-users, which otherwise makes the chart total read as ~350k) among just the 14 protocols listed.

Figure 1: User Growth on 14 major DeFi Protocols (by Aug 10th, 2020)

Among the 14 monitored protocols, Uniswap leads the board with over 100k unique Ethereum addresses interacting with them cumulatively to date. The second one is Augur, though without much growth recently.

The protocol…

A DeFi Snapshot

Total Value Locked (TVL)

Between 2018 and the end of Q2 2020, DeFi accumulated over $1B USD into the ecosystem. Since the end of the quarter, that number has tripled to ~$4.5B USD in a month, according to DeFi Pulse. Below we also plot the TVL chart for major protocols monitored in our system — the total number adds up to ~$3.3B just from those 9 major protocols.

Like all great missions, launching the world computer of tomorrow requires a platform that guides, strengthens, and fuels its journey across the bounds of our digital space. Today, we are excited to announce the go-live of the Eth2 Launch Pad application, which marks the entry point for validators to commence their journey on the Eth2 chain. It’s time to get your testnet ETH ready!

Over the past few months, Codefi Activate and the Ethereum Foundation (EF) have been heads down to make it easier for users to stake and become a validator on Ethereum 2.0. The result of this effort…

The following post will offer a primer on the SKALE staking mechanism and provide an overview of the anticipated rewards you can expect when staking your Skale tokens with a validator.

Register on Activate to purchase SKALE tokens in the upcoming auction, calculate your anticipated rewards and begin staking your tokens.

What is SKALE?

SKALE Network is an elastic blockchain network that gives developers the ability to easily provision highly configurable fully decentralized sidechains that are instantly compatible with Ethereum. …

We believe that users should determine the value of decentralized network participation, not us. This is why Activate will be facilitating the SKALE Network Launch & Stake through a Dutch Auction mechanism, which promotes fair and transparent price discovery. Every successful auction participant will receive their respective token allocation at the same price and this price is determined by their collective participation.

What is a Dutch Auction?

A Dutch Auction is a decreasing price auction featuring a single seller and multiple buyers who collectively determine the final clearing price. …

A look at the overlap of users between Ethereum DeFi protocols, April & May 2020.

Codefi Data

The Ethereum DeFi Network Graphs visualize the overlap of DeFi users between prominent mainnet protocols.

The graphs each show the logos of prominent DeFi protocols. The cluster of colored dots surrounding individual protocols shows the number of addresses that have interacted with just that protocol within the specified time. On figure 1, which shows April and May, we see that Uniswap (in pink) had the largest number of DeFi users, demonstrated by the dense pink cloud around the Uniswap logo.

Yellow dots represent users (addresses)…

States and cities in the US are facing an acute shortage of funding for critical infrastructure and services caused by the costs of COVID-19 response, which have only partially been addressed by Federal funding, and a decline in their traditional revenue sources. Now is the time for creative and thoughtful solutions to address revenue shortfalls and plan for the future. We propose micro/mini municipal bonds supported by the Codefi Assets digital platform as one tool municipalities can use to bolster their balance sheets.

COVID-19 is causing a historically extreme impact on our lives

The scale and rate with which the COVID-19 pandemic has impacted our lives is extreme, even when…

In recent years, regulatory requirements for digital assets have increased significantly to keep up with the pace of technological innovation in the financial services sector. Any entity interacting with digital assets and tokenization- exchanges, asset managers, custodians, and emerging DeFi platforms- has to meet specific requirements to prevent fraud, market manipulation, cybercrime and cybersecurity breaches.

The ability to tokenize financial instruments on decentralized networks unlocks new capabilities for financial services and the leading institutions are eager to reap the benefits of this innovation. According to a survey of US-based asset managers issued by State Street Advisors, 62% of clients say…

Hey Friend,

Hoping this email finds you well and adjusted (or adjusting) to our new patterns of behavior. This month, we look at some of the more nuanced applications of the Ethereum blockchain, and we recap both the launch of Codefi Compliance and the state of insurance on Ethereum.

Calls Into the Ether

Society has progressed through the ages on the heels of movements, rebellions, uprisings, protests, and outcries. These movements propel history forward, but are also misrepresented by our historical amnesia. Media bias, historical white-washing, intentional censorship, political agendas, and retrospective guilt can result in the distortion or dangerous misrepresentation of our reality.

Approaches to monitoring and protecting against risks

2020 has proven a critical year for the Ethereum DeFi ecosystem. In addition to celebrating over $1bn USD locked in DeFi and significant platform milestones, the industry has been subject to frequent occurrences of minor and major security incidents across both new and established DeFi applications.

5 DeFi security incidents that happened in April:

  • Uniswap: on 18th, $340k USD stolen through a reentrancy attack vector
  • on 19th, $25m USD stolen through a reentrancy attack vector; funds are re-issued after team’s negotiation with hacker.
  • Curve: A stablecoin exchange platform, revealed that they found and solved a bug in the sUSD…

ConsenSys Codefi

The blockchain application suite for next-generation commerce and finance

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