Hello subscribers! Welcome to the 5th edition of the Techemynt fortnightly newsletter. Over the last month, digital asset markets have roared back to life. A key driver of optimism for investors has been the Upcoming Ethereum merge update.
The Merge will witness the largest platform blockchain in the world transition from Proof-of-Work to Proof-of-Stake. NZDS is built on the Ethereum blockchain and Techemynt looks forward to the faster, cheaper NZDS token transfers that will arrive post-merge.
Today, the Circle team behind stablecoin USDC has chosen to blacklist Ethereum addresses that interacted with the mixing service Tornado Cash which is listed in the US Treasury Department’s sanction against the protocol.
The USDC blacklist policy explains that when an address is blacklisted it can “no longer receive USDC and all of the USDC controlled by that address is blocked and cannot be transferred on-chain.” All USDC in the Tornado Cash trading pool appears to have been frozen.
Highlights of the last fortnight include:
- Beefy Synthetic Fiat Currency vaults are live
- Jarvis launches their new reward program
- DeFi Basket – Jarvis program is live on DeFi Basket
- Kiwi Basket is live on DeFi Basket
- DeFi Basket CEO João joins the Crypto Conversation
- The total cumulative volume of NZDS
Beefy Finance taps into the latest
A new NZDS-driven vault has recently been launched on Beefy Finance. The Beefy 2NZD pool auto compounds for liquidity providers to the NZDS-jnzd pool on Curve. The Curve pool which was launched by the Jarvis.network platform, offers LPs rewards in the form of Jarvis tokens. The NZDS/jnzd pool was accepted into the latest Jarvis rewards program following a community governance vote and rewards began in late July.
Beefy offers users a convenient way to farm native tokens that are a part of the liquidity incentive program.
Beefy auto-compounds and users can deposit the LP tokens they receive for being liquidity providers for AMM pools.
An auto-compounder collects Liquidity provider rewards for depositors, over what the platform calls the optimal reward period and re-invests them into the platform. They then stake native tokens and redeposit tokens into pools to ensure that the earnings are maximised. All operations are conducted through smart contracts.
Beefy Finance simplifies the process for long-term LP providers to earn rewards and removes the process of signing transactions and paying gas periodically to earn maximum rewards.
So I hear you like synthetic fiat currencies.
We got synthetic fiat currencies vaults.@jarvis_network synthetic fiat currencies vaults.
We got a bunch of synthetic fiat currencies vaults.
Synthetic fiat currencies vaults, right here 👇 pic.twitter.com/cyqOSabIQ8— Beefy (@beefyfinance) July 28, 2022
DeFi Basket
New Jarvis Rewards live on DeFi Basket and the NZD pool has a double-digit APY.
DeFi Basket is a decentralised protocol built on top of the Polygon network that enables anyone to build, clone, and manage baskets of decentralised investments, including yield-generating tokens in a single transaction.
It is even simpler to use than Beefy and doesn’t even require depositing LP tokens. Users can deposit stablecoins into the platform and then the platform re-invests them into yield-bearing strategies which the depositor can then track.
Like Beefy, DeFi Basket has recently launched support for the Jarvis Curve NZDS-jnzd liquidity pool and reward program.
A number of DeFi Basket strategies implement NZDS as part of their strategies.
You like @Jarvis_Network #stablecoins? We got ‘em.
💸 $jJPY – $JPYC: 46% APY
💸 $jNZD – $NZDS: 35% APY
💸 $jSGD – $XSGD: 24% APY
💸 $jCAD – $CADC: 19% APY
💸 $agEUR – $jEUR: 16% APY@jpy_coin @techemynt @CurveFinance @PayTrie pic.twitter.com/yK9OMQ9E6Q— Beefy (@beefyfinance) May 25, 2022
Kiwi Basket
As part of the partnership with DeFi Basket, a special ‘featured’ Basket has been launched. The ‘Kiwi Basket’ consists of 50% NZDS yield-bearing tokens and 25% JPY yield-bearing tokens and EUR yield-bearing tokens. The yield-bearing EUR token taps into a Jarvis pool containing Angle Euro and the yield-bearing JPY token taps into a pool containing j-JPY.
The Kiwi Basket (Polygon) is easy to find on the Front page of the DeFi Basket. It is currently the 2nd largest strategy by invested value on DeFi Basket. The estimated APY for the basket is 16.19%.
DeFi Basket CEO João joins the Crypto Conversation
João Ferreira is the founder of Defi Basket, a portfolio management protocol that lets users invest with a single transaction in multi-token, multi-protocol strategies that you can create or copy from others.
Portfolios are called baskets. When you invest in a basket, you are given a financial NFT that shows how much you own of each asset. It can be transferred, lent, or sold as an NFT.
“You get a lot of ease to keep managing that portfolio. The way I like to think about it, it’s almost as a smart wallet, it behaves very similarly as metamask would behave or any other wallet, the difference is you can batch transactions and you can manage the assets they’re in there very very easily.”
Listen Now
- On Apple Podcasts
- On Spotify
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- On Stitcher
- Or Download HERE
🎙️On the crypto conversation podcast @AndyPickeringNZ is with @joaoavf of @DeFiBasketLabs – buy a DeFi Portfolio in a single transaction. 🎧https://t.co/12crvGMlUC
— Brave New Coin (@bravenewcoin) August 8, 2022
The total cumulative volume of NZDS
The total cumulative volume of NZDS on the Ethereum and the Polygon version of decentralised exchange DFX has just crossed the US$130 million mark. DFX Finance is a decentralised foreign exchange (FX) protocol optimised for trading fiat-backed stablecoins.
NZDS is currently the 4th most popular asset by AUM on the platform behind CAD-C, XSGD and EURS.
NZDS Brand