DeFi Daily News,October 2nd, 2020

3 min readOct 2, 2020

1. Derivative exchange BitMEX’s legal issues with U.S. regulators took a toll on bitcoin’s price while DeFi gave Ethereum miners more fee revenue than ever. Bitcoin (BTC) trading around $10,582 as of 20:00 UTC (4 p.m. ET). Slipping 1% over the previous 24 hours, which trading range was between $10,427 and $10,931.

2. According to the ChainNews, Hedget, a decentralized option trading protocol, announced the launch of the first phase of liquidity mining activities, rewarding users who provide liquidity with the protocol token HGET. The first phase of liquidity mining is based on Uniswap’s HGET/ETH fund pool. The reward pool is 7500 HGET, and there are also 2500 HGET special rewards. The event will start on October 5th. The liquidity certificate (LP Token) needs to be locked Hedget two weeks. According to Hedget’s estimates, the annualized rate of return for this event is 260% to 110%.

3. Pickle Finance, a DeFi liquid mining project, stated on Twitter that PickleJar, the machine gun pool, has been restarted and unlocked users’ mining funds. At the same time, since the old PickleJar cannot be used now, the project will migrate the new PickleJar, complete the migration and restore the service of the machine gun pool within 24 hours.

4. In the third quarter of the review, it was found that YFI was the best performing asset, with the currency price approximately 28 times higher. Yield Farming not only promotes the rapid development of lending products, but also promotes the rapid development of other sub-formats such as AMM DEX (automated market making), stable coins, and synthetic assets. Under the pull of multiple carriages, DeFi is forming an inward loop. Benefiting from the boom in the DeFi market, according to CoinMarketCap data, the market size of digital currencies in the third quarter rose from $260.093 billion on July 1 to $340.484 billion, an increase of nearly 40%. According to analysis, the TOP 30 currency prices in the third quarter rose by over 47% on average, and the quarterly currency holding income range expanded by 46% year-on-year. However, the total market value declined slightly, and the daily average currency price volatility has risen to more than 7%. You need to be alert to risks. PAData analysis mainly has the following points:

1) The total market value of the TOP 30 in the third quarter increased by about 19.74%.

2) The price of other digital currencies other than stable currencies rose by about 47.08%, continuing the upward trend in the second quarter.

3) YFI was the best-performing asset in the third quarter, with the currency price approximately 28 times higher.

4) The daily average volatility of currency prices rebounded from 5.57% in Q2 to 8.28%, which is closer to Q1 this year.

5) In the third quarter, the average value of investors’ currency holding income range was about 111%, an increase of 46% year-on-year.

6) The market value of 18 pan-DeFi tokens entered the top 100, and “Lego” promoted the internal circulation of DeFi concept coins.


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