Today in DeFi - Bounce.Finance Governance, Sushi Multisig, Swerve
Bounce.Finance Launches MultiSig
Bounce Finance, a DeFi Auction platform, has announced its multisig participants. Described as a “competitive swap environment”, Bounce allows users with a limited item, such as tokens in a token sale, or an item with a limited supply, to auction off items. Currently, fixed bid and sealed bid auctions are supported.
Bounce’s major use case right now has been token sales. Its auction format allows projects to set a fixed price for their token. Users who don’t get into the sale get their ETH “bounced” back, hence “Bounce Finance”.
Learn more about Bounce in their introductory Medium article.
SushiSwap, the Uniswap Fork with a token, is now proceeding further with its aim of creating a multisig. A collection of reputable parties has been curated and there will be soon be voting.
As hinted at in the previous newsletter, SushiSwap Migration will be moving forward.
Why do I talk about SushiSwap so much? This tweet says it all:
To stay up to date with Sushiswap, follow Chef Nomi on Twitter.
Swerve Finance, a fork of Curve Finance, has launched, albeit with some technical difficulties.
It has now collected over 380M TVL. Keep in mind this is an unaudited project, barely a day old, with no SSL, on a sketchy domain. Is it legit? It’s hard to say. I would be careful with this one.
Nevertheless, DeFiDollar, a Stablecoin backed by Curve Y pool tokens, has already incorporated Swerve into their product. This new swDUSD is an isolated stablecoin that allows users to use stable coin that is backed by SWRV and collects yield from it.
DeFi moves fast!