Today in DeFi - Secret Ethereum Testnet, NXM Updates, Aave GHST Staking, RAC Audius Launch

Follow @todayindefi to keep up with the latest DeFi news on Twitter.

Secret Ethereum Testnet

𝕊ecret Network @SecretNetwork

Last month, we became the first blockchain with privacy-preserving smart contracts. Now we're bringing privacy to EVERY blockchain, starting with #Ethereum. Learn how Secret Network provides cheaper, composable, & programmable privacy to $ETH and ERC-20s!

blog.scrt.networkSecret Ethereum Bridge: Programmable Privacy for Ethereum and ERC-20sThe Secret Network / Ethereum Bridge is now live on testnet, bringing privacy to Ethereum assets at ¼ the cost of Tornado Cash! Learn how it works and what’s next.

Secret Network, a privacy-preserving layer one smart contract platform, has just released its Ethereum Bridge on testnet.

“The Ethereum bridge transfers between assets on the Ethereum network (ETH/ERC-20) and Secret Tokens, which are specified by the SNIP-20 spec. Secret Tokens combine the programmability of ERC-20s with the privacy of coins like Zcash or Monero. The bridge is bidirectional, so SNIP-20 assets can then be redeemed for their Ethereum equivalent.”

Find out more in the Medium post.

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NXM Updates

Hugh Karp 🐢 @HughKarp

We've got some solid updates in the works @NexusMutual Current plans in rough order, everything subject to change. 👇

Insurance Protocol NXM has some significant updates in the works. Claims will switch to a “Proof of Loss” system, which Hugh explains will lead to lower prices and better sustainability. The Mutual will be able to invest its float into any ERC20 to increase yield, and MCR will be moved fully on chain.

The full list of updates also includes Stacked Risk Cover, demand base pricing, and changes to the staking model. Read the tweet thread for full details.

Aave GHOST Staking

Aavegotchi @aavegotchi

it's official frens the waiting is over #apesafe into our audited GHST Staking contracts and start making FRENS today First raffle happens on Nov 10!

medium.comStake GHST, Make FRENS Live on Ethereum Mainnet!Hey frens, we are excited to announce that the Stake GHST, Make FRENS functionality is live on Ethereum Mainnet, accessible via our staking UI at https://aavegotchi.com/stake-mainnet. Our dev team is…

Aave has just released staking functionality for GHST, the ecosystem token of AaveGotchi, Aave’s NFT project.

“Here’s how you can start staking your GHST token to earn FRENS:

1. Acquire GHST from the official GHST token bonding curve OR other source such as Uniswap

2. Stake your GHST Token (or GHST-ETH LP Token) via the Aavegotchi Mainnet Staking pageto begin earning FRENS points*

3. Redeem your FRENS for raffle tickets in the Aavegotchi Shop. Raffle tickets are ERC1155 compliant and can be traded freely on any market that supports the ERC1155 standard."

Read more in the Medium Post.

RAC Audius Launching

RAC @RAC

it's happening ✨ @AudiusProject is coming to mainnet and I'm playing a set with @deadmau5 on @Twitch. Friday Oct 23rd at 6:30PM PST RSVP: show.audius.co

RAC has announced that Audius mainnet is launching soon. Audius is a musician-owned streaming platform which counts deadmau5, 3LAU, and Rezz amongst its artists.

Audius Music 🎧 @AudiusProject

With $AUDIO, you'll be able to: 🏛 Propose & vote on new features on Audius 💰 Decide where to invest grants for projects that improve Audius 🎶 Earn $AUDIO for hosting, curating & moderating tracks 📲 Earn $AUDIO for building apps & experiences on Audius and more...

Audius Music 🎧 @AudiusProject

You are what makes platforms valuable. So don't just own the masters. Own the platform. Community, meet $AUDIO, the Audius platform token. Coming soon 👇 https://t.co/vFdsMluqir

$AUDIO will be the token of the Audius decentralized streaming platform. It will be used to pay users who host, curate or moderate tracks, as well as for builders on the platform. It will also have governance voting power.

Find out more in the Medium article.

Follow @todayindefi to keep up with the latest DeFi news on Twitter.

Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned