{"id":237847,"date":"2021-04-29T00:34:19","date_gmt":"2021-04-28T21:34:19","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/money-legos-keep-stacking-finance-redefined-4-21-4-28\/"},"modified":"2021-04-29T00:34:19","modified_gmt":"2021-04-28T21:34:19","slug":"money-legos-keep-stacking-finance-redefined-4-21-4-28","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/money-legos-keep-stacking-finance-redefined-4-21-4-28\/","title":{"rendered":"# Money Legos keep stacking! Finance Redefined 4\/21-4\/28"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a271437e98c7\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a271437e98c7\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/money-legos-keep-stacking-finance-redefined-4-21-4-28\/#Money_legos_keep_stacking\" >Money legos keep stacking<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/money-legos-keep-stacking-finance-redefined-4-21-4-28\/#Are_you_speaking_my_language\" >Are you speaking my language?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/money-legos-keep-stacking-finance-redefined-4-21-4-28\/#Other_stories_this_week\" >Other stories this week:<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Money Legos keep stacking! Finance Redefined 4\/21-4\/28  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvM2I5YjYyYWYtYmQyMi00MzlmLTg3MjgtODA2MmY4NTlmYzU0LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>H<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>y Wednesday fellow DeFi degens!\u00a0<\/p>\n<p>I was expecting to spend a large portion of this edition of Finance Redefined analyzing Aave&#8217;s liquidity mining program. There was some anxiety from investors that the emission of 2,200 $AAVE per day (which would translate to roughly 5% of the ecosystem reserve fund of 2.8 million AAVE per year) might end up dragging down the token&#8217;s price as farmers earn and dump.\u00a0\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I would feel very uncomfortable holding an asset if the governance token of a very important protocol ends up in the hands of people who only think about short term gains.<\/p>\n<p>\u2014 Grogu (@eip1559) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/eip1559\/status\/1386751669162024961?ref_src=twsrc%5Etfw\">April 26, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Turns out, it&#8217;s unnecessary: the program&#8217;s an unmitigated success. The AAVE token is up nearly 15% since the launch of liquidity mining to $462, and the protocol&#8217;s total value locked figure has surged to $11.8 billion \u2014 up from just over $7 billion since liquidity mining began.<\/p>\n<p>Well-researched liquidity mining works. Only question now is, if the program is discontinued, how much of that TVL will be sticky?\u00a0<\/p>\n<p>Other narratives to keep an eye on:\u00a0<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Money_legos_keep_stacking\"><\/span>Money legos keep stacking<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>At the start of the year there was speculation that in 2021 DeFi would see something of a novelty: one protocol acquiring another, likely via a governance token buyout. The Synthetix 2021 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.synthetix.io\/synthetix-2021\/\">roadmap<\/a> in particular opened the door to such a possibility, comparing it to acquisitions in TradFi and looking to Yearn\u2019s merger\/acquisition\/collaboration spree for inspiration.\u00a0<\/p>\n<p>Large-scale mergers and acquisitions have yet to play out, however. There are some smaller examples brewing \u2014 Inverse Finance is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/InverseFinance\/status\/1387335256462798848\">currently<\/a> looking to buy out Tonic for some $1.6 million, for instance \u2014 but instead what we\u2019re seeing is a boom in deep integrations at the protocol and frontend layers. <\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/InverseFinance\/status\/1387335256462798848\">https:\/\/twitter.com\/InverseFinance\/status\/1387335256462798848<\/a> <\/p>\n<p>On Monday, Badger DAO and RenVM launched the Badger Bridge, a new interface for depositing native BTC into Badger vaults with just a few clicks. The integration stands out for two reasons. One is that it\u2019s so clearly beneficial for both parties: an idiot-proof way to earn yield on BTC is attractive for hodlers, meaning Ren will see an uptick in activity on its bridge (and therefore protocol fees), while Badger likewise gets a boost in TVL. <\/p>\n<p>The other angle, however, is the willingness with which Ren subordinated its branding, letting Badger \u2014 which, I\u2019d argue, has the stronger community \u2014 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/app.badger.finance\/bridge\">take over<\/a> the landing page. Were it not for absurd token valuations, one might have been an acquisition target for the other, given the obvious needs each fills \u2014 but by working together Ren gets everything they\u2019d want from a protocol like Badger, and the same applies to Badger and Ren. <\/p>\n<p>This raises the question: why bother with takeovers when a friendly integration can accomplish the same effects? <\/p>\n<p>Another prime example is today\u2019s Balancer-Gnosis Protocol announcement. You can see the details in my piece, but effectively Balancer v2 is bringing some neat innovations to AMM liquidity provision and Gnosis\u2019 CowSwap is a liquidity aggregator and offchain transaction batching protocol that will reportedly cut back on miner extractable value. The combination of the two will make for a significantly more feature-rich DEX from both a LP and trader\u2019s perspective \u2014 possibly even positioning the Balancer-Gnosis-Protocol as a Uniswap v3 competitor. <\/p>\n<p>In a statement to Cointelegraph, Balancer CEO Fernando Martinelli noted that such a deep collaboration would be impossible in the traditional finance world:<\/p>\n<blockquote><p>\u201cEach of the two protocols would be impossible to implement in the traditional finance world simply because there is no such thing as trustlessness there (you always need an inter<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>ry). Even if that were possible, combining these two protocols would be as much of a challenge as it would be to integrate Fidelity Index Funds (Balancer) with Nasdaq (Gnosis) under one single platform.\u201d<\/p><\/blockquote>\n<p>Acquisitions may be an outdated model. Interoperability and composability means that protocols can benefit from one another without hostile takeovers. <\/p>\n<p>The branding might still need to get figured out, however \u2014 Balancer-Gnosis-Protocol isn\u2019t exactly the best name. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Are_you_speaking_my_language\"><\/span>Are you speaking my language?\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The goalposts keep moving for Ethereum maximalists as organic activity begins to spread to other chains.\u00a0<\/p>\n<p>On Solana, for instance, $COPE and $STEP have attracted significant community following and investment from major players (including from funds other than noted SOL supporters Alameda Research!), and this morning announced a hackathon aiming to kick off the hashtag \u201csolanaszn.\u201d Other folks have bandied around \u201cSolana Summer\u201d in the mould of last year\u2019s DeFi Summer, but whatever your preferred sobriquet the competition is for real. <\/p>\n<p>The success has \u2014 perhaps predictably \u2014 led some observers to try and poke holes in SOL\u2019s growth thesis. While, like any chain, there\u2019s plenty of attack surface, one growing criticism is that Solana\u2019s flagship language, Rust, is both difficult and exotic. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ in my humble and na\u00efve opinion, Rust might be an initial bottleneck for Solana dev adoption as its only slightly easier than learning C++ and will take time to have people to pick it up<\/p>\n<p>\u2014 10spot (@10spot1) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/10spot1\/status\/1386055856597393419?ref_src=twsrc%5Etfw\">April 24, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In a statement to Cointelegraph, Solana founder and current Solana Foundation president Anatoly Yakovenko rejected that view.\u00a0<\/p>\n<p>\u201cRust is a modern language with wide adoption suitable for writing high performance secure code. It has ranked on Stack Overflow as one of the most loved programming language by 65,000 people who code, so we are confident this plays a key role in driving the organic growth in our developer community to date,\u201d he said. <\/p>\n<p>He also noted that the Foundation has counted 2,000 developers building on Solana (he didn\u2019t mention methodology or definitions used to arrive at the figure, and it seems perhaps a touch inflated given that a 2019 study from ConsenSys <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/consensys.net\/blog\/developers\/ethereum-has-4x-more-developers-than-any-other-crypto-ecosystem\/\">found<\/a> that there\u2019s about 1,300 Ethereum developers, and in 2020 Electric Capital <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/medium.com\/electric-capital\/electric-capital-developer-report-2020-9417165c6444\">pegged<\/a> the total number of ETH devs around 2,300), and that Solana devs aren&#8217;t interested in \u201ccopy\/pastes\u201d of Ethereum projects. <\/p>\n<p>He\u2019s also right about the Stack Overflow <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/insights.stackoverflow.com\/survey\/2020#technology-most-loved-dreaded-and-wanted-languages-loved\">study<\/a>, though a 2018 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.rust-lang.org\/2018\/11\/27\/Rust-survey-2018.html\">survey<\/a> from the Rust Blog showed that over 20% of developers working with the language felt unproductive after a year of use. <\/p>\n<p>Whatever you feel about Rust, however, it\u2019s likely a problem that money can fix. And to that end Solana is pressing the pedal: the hackathon will feature \u201cup to $1 million\u201d in prizes and\/or seed funding. I think I could learn a tough language for that. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Other_stories_this_week\"><\/span>Other stories this week:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Uranium Finance loses $50 million, likely rug<\/p>\n<p>ETH cracks all-time highs<\/p>\n<p>Aave\u2019s liquidity mining program a success out of the gate<\/p>\n<p>NYSE president bullish on DeFi<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/money-legos-keep-stacking-finance-redefined-4-21-4-28\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Money Legos keep stacking! Finance Redefined 4\/21-4\/28 &#8221; Happy Wednesday fellow DeFi degens!\u00a0 I was expecting to spend a large portion of this edition of Finance Redefined analyzing Aave&#8217;s liquidity mining program. There was some anxiety from investors that the emission of 2,200 $AAVE per day (which would translate to roughly 5% of the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":237848,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvM2I5YjYyYWYtYmQyMi00MzlmLTg3MjgtODA2MmY4NTlmYzU0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74868,74891,83644,92498],"class_list":["post-237847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-defi","tag-ethereum","tag-hackathon","tag-solana"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/237847","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=237847"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/237847\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/237848"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=237847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=237847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=237847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}