After burning the first million KNC in May, KNC holders had another reason to celebrate this month with the second millionth KNC burnt on the 16th of August. The rate of burn has grown an order of magnitude this year and although it took 15 months to burn the first million KNC, it took only 10 weeks to burn the second million. We’ve released a special one minute video with Loi and Anton walking you through how burning takes place (with obligatory slow-motion glitter bomb celebration from the team included😎):DeFi DApp Updates
DeFi dapps had their ups and downs in terms of volumes this month with some growing both in terms of ETH and USD, some growing in terms of ETH but not USD, and some dropping in both ETH and USD:
DeFi volumes were down 24% over the previous high of $10.8m but we are not worried about these volumes as they are still some of the highest we’ve seen for the DeFi space and there is a constant flux of new DeFi dapps joining the Ethereum space, innovating and growing demand organically.
Nuo continues to grow its on-chain activity and dominate our DeFi integration volumes but we are also pleased to see Fulcrum grow for the 3rd straight month since its integration and it now makes up 20% of Kyber’s DeFi volumes.New Kyber-DeFi Integrations
It’s been a pleasure for us to witness first hand the building up of the DeFi stack within the last 9 months. There’s been a constant stream of new dapps in the derivatives, lending, borrowing, margin trading, prediction and stable coin space. This month’s new Kyber integrations build up on this stack by introducing fixed interest rate borrowing and lending options, as well as new marketplaces for loans.
bZx Torque — bZx (the team behind Fulcrum) unveiled Torque, ‘the first borrowing platform with indefinite-term loans and fixed interest rates’. Fixed interest rates are a vital function of any financial ecosystem but Torque goes further by developing an...