DeFi Weekly Update 2021/6/21

2 min readJun 24, 2021

What happened to Titan? / MakerDao executive proposal/ Instadapp announces INST governance is live on Ethereum mainnet / The long-anticipated London upgrade ready for deployement on the Ethereum testnets

Editor: Anderson Chen & Raizel

Ethereum and the crypto market continues to grow despite another week-long weakening of DeFi prices.

Source: CinemaBlend

Quote of the Week:

From Anthony Sassano, co-founder of EthHub:

From Marc Zeller, Integrations Lead, Aave:

From Hayden Adams, Founder of Uniswap:

Headlines of the Week:

What happened to Titan and Iron Finance?

<Panic selling triggered evaporation of $2 Billion in value.>

“I got hit like everyone else,” Mark Cuban, owner of the Dallas Mavericks and an investor on ABC’s “Shark Tank,” tweeted Wednesday.

MarkerDao has placed an executive proposal into the voting system

Executive Summary

If this executive proposal passes, the following additions will be made to the Maker Protocol:

If this executive proposal passes, the following changes will occur within the Maker Protocol:

  • The Debt Floor (dust) parameter for all vault types excluding PSM-USDC-A, ETH-B and ETH-C will be increased from 5,000 DAI to 10,000 DAI.
  • The Debt Floor (dust) parameter for the ETH-B vault type will be increased from 15,000 DAI to 30,000 DAI.

Instadapp issues governance tokens INST and airdrops to MakerDAO, Compound, and AVE users

Defi aggregation platform Instadapp announced the official launch of the governance token INST on Twitter on June 17. Users with positions in the MakerDAO, Compound, or AVE mainnet (including the Polygon chain) at the time of INST token launch are rewarded with a total of 11 million INST tokens airdropped based on the size of their positions.

The long-anticipated London upgrade is now ready for deployement on the Ethereum testnets

The upgrade will first go live on Ropsten, at block 10499401, which is expected to happen around June 24, 2021.




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