Weekly Roundup – 3.17
By Exponential Team
Published Mar 16, 2023

Welcome to Weekly Roundup, where our team of experts selects buzzworthy pools, news, and announcements for you to have on your radar.

Don’t rely on the luck of the Irish 🍀 to find a pot of gains at the end of the rainbow. 🌈 Read Weekly Roundup for the latest pool ratings and protocol reports to create your own luck.
Don’t forget to hit ⭐ follow for news & alerts about your favorite pools.
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It’s been a wild few weeks for DeFi. Here’s your frenly reminder of the week to help you #DegenResponsibly. 😎 
Revoke unlimited allowances to protocols you no longer use to mitigate future risk.
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The best of the best. These pools have no major red flags, offer a competitive yield, and are at the top of the class – earning an A or B risk rating. What’s rarer? A four-leaf clover or an A-rating from us? 🍀
  1. Sturdy USD Lending - ⭐ Follow
  • APR ~11%
  • Exponential Risk Rating: B
  • Yield source: Lender yield comes from the interest-bearing collateral that the borrower borrows against
  1. Uniswap ETH-USD Market Making 5bp - ⭐ Follow
  • APR ~63%
  • Exponential Risk Rating: B
  • Yield source: Swap fees from ETH trading activity on Arbitrum
  1. Lido ETH Staking - ⭐ Follow
  • APR ~5%
  • Exponential Risk Rating: A
  • Yield source: Ethereum validator rewards
  1. Yearn CRV Staking - ⭐ Follow
  • APR ~8%
  • Exponential Risk Rating: B
  • Yield source: Curve fee sharing and re-invested CRV rewards

Check out the MVPs here.

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New kid on the blockchain. We review thousands of DeFi investments to find the most attractive pools for you. Grab a pint and get to know these new pools. 🍻
  1. Moonwell Artemis BTC Lending - ⭐ Follow
  • APR ~20%
  • Exponential Risk Rating: C
  1. Moonwell Artemis ETH Lending - ⭐ Follow
  • APR ~10%
  • Exponential Risk Rating: C
  1. Moonwell Apollo USD Lending - ⭐ Follow
  • APR ~6%
  • Exponential Risk Rating: C
  1. Moonwell Apollo MOVR Lending - ⭐ Follow
  • APR ~4%
  • Exponential Risk Rating: B

Meet the new pools here.

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Don’t degen too close to the sun. These pools have major red flags at the chain, protocol, or asset level, with a high likelihood of being exploited or failing. Like Riverdance, these pools aren’t for everyone. 👯
  1. DeFiChain USD Market Making - ⭐ Follow
  • Exponential Risk Rating: F
  1. Vires USD Lending - ⭐ Follow
  • Exponential Risk Rating: F
  1. Moonwell Artemis USD Lending - ⭐ Follow
  • Exponential Risk Rating: F
  1. UwU USD Lending - ⭐ Follow
  • Exponential Risk Rating: F

Step into the danger zone if you must.

These pools are coming in hot 🔥. Our new DEX Dash looks at the top 500 cross-chain DEX pools by volume (weekly/monthly/yearly) to analyze if it is trending positively, negatively, or neutral so you can stay ahead of the curve.
Top Traded Pairs (by L7D volume)
  1. USDC-WETH (Uniswap)
  1. USDC-USDT (Curve)
  1. USDT-WETH (Uniswap)
  1. USDC-USDT (Uniswap)
Top DEXs by Weekly Volume (WoW)
  1. mStable
  1. DefiSwap
  1. DFX
  1. Synthetix
Top Chains by Weekly DEX Volume (WoW)
  1. Ethereum
  1. Gnosis
  1. Fantom
  1. Optimism

Check out the DEX Dash.

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Circle partners with Cross River Bank to calm markets after USDC depeg. In a tumultuous weekend for crypto, USDC issuer Circle lost its dollar peg, leading to concerns about the safety of its reserves. However, Circle has partnered with Cross River Bank, a known favorite among traditional financial players like Visa, to mint and redeem USDC. The company has also ramped up ties to the Bank of New York Mellon, where it currently keeps most of its total $9.7B cash holdings. Crypto clients using Cross River include Coinbase and Stripe. Despite USDC dipping to an all-time low of around $0.87 last week, it has since regained its peg as investors have been assured the 1:1 redemption remains intact.
Euler protocol loses $200M in hack due to code vulnerability. Euler, a prominent DeFi lending protocol known for its risk management, has suffered a $200M exploit in what may be the largest DeFi exploit of 2023. The protocol held over $400 million of user assets at the time, and the attacker was able to steal nearly $136M of Lido Finance's stETH, $34M of USDC, $18.5M of WBTC, and $8.8M of DAI. A vulnerability in a smart contract function that was added during a major overhaul eight months ago caused the exploit. It allowed the attacker to create an underwater position and liquidate themselves using another malicious contract they created. Flash loan attacks, which allow users to borrow large amounts of money without posting any collateral, are all too common in DeFi. The Euler team is working with security firms and law enforcement to track and recover the stolen funds. Many protocols that either deposited funds in Euler or had indirect exposure have been affected by the exploit.
Wen airdrop? Arbitrum debuts long-awaited ARB token. After a week of unfortunate events, Arbitrum surprisingly announced the launch of its ARB token, which is set for March 23 in the most anticipated airdrop since Optimism’s OP token. The airdrop will distribute billions of governance tokens to its core users, investors, DAOs, and Offchain Labs (Arbitrum’s parent company). Arbitrum remains the clear leader in the L2 scaling wars, with a 55% market share. Offchain Labs also announced plans to allow “Layer 3” blockchains to be built on top of the Arbitrum network (reaction to Coinbase’s partnership with Optimism? 🤔). With the decentralization of governance, ARB holders will now effectively run the L2 rollup via on-chain governance. Importantly, a solid 9/12 multisig will still hold emergency powers in the event of any critical or time-sensitive bugs.
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Did you stand us up?!
It’s ok, we’re all about redemption at Expo. Listen to our latest Degen Responsibly episode with Rocket Pool. We’re also chatting with Liquity Protocol next Tuesday at 11 am ET to talk about the most decentralized stablecoin in DeFi: LUSD.
Set your reminder
Catch up on past episodes on Spotify, Apple Podcasts, or wherever you get your podcasts.
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Coming soon – investing on Exponential
A few users were invited to our private alpha to give Invest a test drive. Soon, all accredited investors will be able to invest in DeFi pools across major chains directly on our platform.