It would be an understatement to say that the crypto tectonic plates are shifting. It is early days, so rapid prototyping and evolution is only to be expected. In addition, ideas move like never before at warp speed, across telegram channels, discord groups, reddit threads, and over plain-old-internet websites as well as even streamed conferences. It is impossible to keep track of everything that is going on, even for those in the industry that live, breath and eat this crypto stuff day in and day out.
Currently, DeFi along with the Lightning Network are probably the two most interesting user applications out there in the crypto space currently. To present our readers with updates on how fast the DeFi and Lightning Network ecosystems are going, we wanted to make our Friday edition of newsletter primarily dedicated to tracking the progress of key metrics in both these ecosystems. In Satoshi&Co future Friday editions, we will therefore try to present to our readers more data-driven research on different components of the DeFi stack, LN as well as other adjacent ecosystems such as DEXs (decentralized exchanges) and stablecoins.
Without further ado, we now dive into the inaugural edition of Friday metrics watch.
Ethereum Locked in DeFi
MakerDAO still accounts for a lion’s share of ETH locked up in collateral, with more than 2.1 million of ETH locked up. Augur and dYdX have shown strong w/w growth, partly because of their low base values.