Weekly Yields

DeFi Protocols Unite On Twitter: Crypto Weekly Newsletter #038

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MetaMask wallet update. Russia's largest bank goes DeFi. Wormhole wins BNB-Uniswap bridge vote. Binance launches a tax tool. $OBT liquidity locked on PancakeSwap.

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Weekly Yields
Danail Velchovski
February 6, 2023
Feb 6

📝 The January 2023 Crypto Report Is Here.

Welcome,

Over 30 top decentralized financial protocols came together this week to demonstrate the power and potential of this revolutionary space. These leading projects showcased DeFi’s open, composable, and permissionless nature in a 24-hour campaign highlighting Web3’s interoperability by “permissionlessly” sharing tweets from other protocols.

Source: Official Twitter Accounts

With projects like Yearn, MakerDAO, and SushiSwap leading the charge, the DeFi ecosystem is changing the game and making a strong case for decentralized finance.

Market update

At the time of writing, Bitcoin (BTC) is trading at $23,065, a slight +0.98% increase from 7 days ago. Shiba Inu (SHIB) is the highest gainer among the top cryptocurrencies, with a +24.38% gain. Polygon (MATIC) is up by +13.57%, while Solana (SOL) dropped by -2.65%.

Data from Feb 06, 2023, at 19:30 UTC via Messari.io.

Latest news:

MetaMask Crypto Wallet Update: New Security and Privacy Features

MetaMask, a leading crypto wallet, has updated its privacy features in response to increased criticism. The updates include an “updated experience” for wallet creation and privacy and security settings upgrades.

Image source: MetaMask’s Twitter

Advanced privacy settings now allow users to toggle features that send requests to third-party services for improved phishing detection and transaction identification. Additionally, users can now change the default RPC (remote procedure call) provider, Infura, following criticism.

Russia’s Largest Bank To Introduce a DeFi Platform by May

According to Reuters, Sberbank, Russia’s largest bank, is planning to release a DeFi platform by May. The platform will be based on the Ethereum network and can be accessed using the MetaMask wallet extension.

Konstantin Klimenko, the product director of Sberbank’s blockchain laboratory, stated that the DeFi network is currently in closed beta and will transition to open testing on March 1st.

Image Source: cryptonews.net

He also mentioned that DeFi has the potential to replace traditional banking services in the future. Sberbank has a strong presence in the crypto industry, having received a license to issue and exchange digital assets and launching Russia’s first blockchain ETF.

Wormhole Wins Vote to Be Uniswap’s Designated Bridge to BNB Chain

Wormhole, a crypto bridge platform, has won a community vote to become the official governance bridge for Uniswap, the largest decentralized exchange platform, when its version 3 platform arrives on Binance’s BNB Chain.

This win grants Wormhole new territory in the competition between bridge platforms, which are essential pieces of crypto infrastructure that allow users to transfer assets and data between blockchains.

Other news

Our research

Read our latest research articles in one click.

Top 6 AI Trading Bots 2023
Analyzing 59 DeFi Yield Aggregators

One Click Crypto performance

Aggregated return of One Click Crypto vs. BTC and ETH

Last week, Bitcoin dropped by -2.92%, while Ethereum lost just -0.24%. On average, the One Click Crypto AI lost -1.42% while keeping the 30d returns at +8.41%.

The average returns for 7 and 30 days, measured on Feb 05 at 23:59 UTC. Source: 1CC Stats

Top trading strategy

During last week’s pullback, the most profitable bots were Endeavour at +0.66% average ROI, Hoizon at +0.47%, and Clipper at +0.35%.

Top-performing AI strategies between Jan 30 00:00 UTC and Feb 05 23:59 UTC. Source: 1CC Stats

Top-performing market pairs

Performer v2 had the most profitable market pair — INJ: BUSD with a +32.87% 7d return, while both P2 and Explorer gained over +22% ROI in OP: BUSD.

The best market pairs for 1CC AI bots between Jan 30 00:00 UTC and Feb 05 23:59 UTC.

Company news

Final word

The world gradually becomes a decentralized hub, and having the current DeFi leaders in a peaceful, open-minded relationship is a good sign.

As institutional and national crypto adoption rises, partnerships between DeFi and TradFi will become even more crucial. Keep following the newsletter for the latest events every Monday.

PS The new One Click Crypto home page is live.

Max Yampolsky,
CEO at One Click Crypto
ir@oneclick.fi


DISCLAIMER:
This is not financial advice. This newsletter is strictly educational and does not provide investment advice, solicit the purchase or sale of any assets, or encourage readers to make financial decisions. Please use caution and conduct independent research.

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Danail Velchovski

Danail masterfully combines his deep knowledge of blockchain technology and his strong writing skills to deliver crisp, comprehensive content. With his early immersion in the web3 domain, he navigates the complexities of this revolutionary technology with ease, turning intricate concepts into engaging, digestible pieces. His research acumen and keen insight into the rapidly evolving world of decentralized networks make him an invaluable asset in educating audiences about web3's potential and its ever-evolving landscape.

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