Estimated Read Time: ~5 minutes
⚡In Today’s Edition
Robinhood wants in on stablecoins
Sei One Pager: 5 minute read with yields & airdrops
The great return of DeFi
Earn yield on your Bitcoin
📖 Recommended Reads
⚡5 October DeFi Strategies for Airdrops and Passive Income
We found October’s best yields across multiple chains
Contributing factors of a potential DeFi renaissance
⚡Sei One-Pager: Everything you need to know
Sei ecosystem DeFi strategies, yield and airdrops
Queue Uptober?
Get an explanation of one of the most popular crypto protocols
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🔢Onchain Analysis
The Stablecoin Story
After the depeg and crash of UST in 2022, years passed without the total stablecoin market cap breaching a new high, even excluding algostables. While that all-time high still hasn’t been reached if you include algostables, if you exclude them, the stablecoin market cap finally surpassed its previous all-time highs, breaking above $170B.
While Tether enjoys ~75% of the total market cap, established competitors like USDC are growing, and new players - Ethena, Paypal, Ondo - have each accumulated at least $400M in stablecoin market cap.
And now, more big players are itching to get in on the action.
Where Are the Stables Going?
Major chains that grew stablecoin market cap over the last week were Base, Avalanche, and Sui.
🚜Farm of the Week
Earn Yield On Your Bitcoin
Aerodrome is the leading DEX on Base and recently crossed $1B in TVL.
How it Works
Coinbase recently launched cbBTC, an ERC20 token that is backed 1:1 by Bitcoin held in Coinbase custody. The purpose of this wrapped token is to allow Bitcoin holders to access DeFi apps and even earn yield on their holdings.
Current Aerodrome yields are quite favorable for Bitcoin holders wishing to utilize their coins. Popular pools include WETH-cbBTC, USDC-cbBTC, and tBTC-cbBTC.
To deposit, select a pool.
Select a price range to provide liquidity for. The “Common” pool covers a decent amount of volatility, so you’ll earn yield on trading fees at wider price ranges.
Select the amount of tokens you’d like to provide, and click deposit.
Risks
You have to trust that Coinbase will retain custody of your Bitcoin as a proper fiduciary
Impermanent Loss, depending on the pool
Top 3 Altcoins for October
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🛠️Tool Spotlight
Use Beefy Finance to Identify Great Yields
Beefy Finance is a multichain yield aggregator. It’s the perfect companion for quickly finding the best yield opportunities on each chain.
Curate your yield search by chain, incentivized yields, pools eligible for points, and plenty more across Beefy’s 1,000+ vaults and over 20 chains.
Each vault has a Safety Score and a Strategy breakdown, giving you key insights into the nature of the vault, the yield source, and how the yield is generated.
More helpful DeFi Tools: The Dynamo DeFi Crypto Tools List
🗳️Prediction Pulse: Forecast the World Better
Prediction Pulse is a new newsletter launched by the Dynamo DeFi team about prediction markets.
Each week you get everything you need to know about the upcoming election, trending markets with the biggest moves, and our favorite prediction market picks to capitalize on🤝
Prediction markets are one of the fastest growing crypto verticals. Join thousands of subscribers and get critical updates & picks on crucial markets.
📅Key Events This Week
Macro Events
📊 Fed Chair Powell speaks - September 30th
📊 September ISM Manufacturing data - October 1st
📊 ADP Nonfarm Employment data - October 2nd
📊 Initial Jobless Claims - October 3rd
📊 September Jobs Report - October 4th
Token Unlocks
🔓TokenUnlocks: Track token unlocks and make better investment decisions. Use my code DDNM5 for 5% off Pro Plans.
🔓OP (2.50%) - September 30th
🔓MANTA (0.50%) - September 30th
🔓DYDX (1.32%) - October 1st
🔓MAV (9.56%) - October 1st
🔓SUI (2.40%) - October 1st
🔓CETUS (3.92%) - October 2nd
🔓IMX (0.86%) - October 6th
Launches & Updates
Note that these launches are mostly unvetted by the Dynamo DeFi team and this isn’t an endorsement of any of them.
🚀 MetaPlex mainnet launch - September 30th (Source)
🚀 Coinweb mainnet launch - September 30th (Source)
🚀 NosanaAI test grid phase 3 commences - September 30th (Source)
🚀 Manta CeDeFi snapshot - September 30th (Source)
🚀 Drakula dApp relaunch on Base - October 1st (Source)
🚀 UnrealAI launch - October 1st (Source)
🚀 Pepecoins burn for brain credits- October 2nd (Source)
🚀 Nestage relaunch - October 2nd (Source)
⚡Favorite Resources
If you want to dive deeper, here are some of my favorite resources:
🛠️ The Dynamo DeFi Crypto Tools List: A comprehensive list of 100+ crypto tools to help with portfolio tracking, analytics, airdrops and more.
🚀 RocketX: The 1-stop-shop to get the best rates for on-chain & cross-chain swaps.
🛡️ Ledger: The smartest way to secure your crypto. Buy & sell crypto with full control over your assets.
For more frequent content, follow me on Twitter and YouTube.
Until next time,
Dynamo DeFi
