As we look forward to ETHDenver and the upcoming mountain retreat in Breckenridge, the bZx team reflects on a productive start for 2020.
January saw a number of updates for Fulcrum, Torque, and iTokens and we were excited to see continued press coverage and content educating the community on bZx and DeFi.
Read on to learn more about what the team’s been up to, see highlights of our press coverage, and get a glimpse at what to expect in the coming months.
From improving the accessibility of iTokens to new assets listed on Fulcrum and Torque, the bZx team enjoyed a number of successes this month.
Fulcrum volume jumps 349%
We saw massive growth on the Fulcrum platform as monthly volume jumped from USD 2.1 million in December to USD 9.6 million throughout January at a total of 59,323 ETH.
Our data shows that 734.88 ETH ($139,626.83) of that volume came from DeFiZap, with 279.46 ETH ($53,098.74) invested in ETH 2x Long positions. DeFiZap enables users to deploy their digital assets across multiple DeFi protocols.
Trade iTokens using Eidoo’s Defi Exchange
Interest-bearing iTokens are now supported by Eidoo’s mobile-first DeFi Exchange.
DeFi Exchange provides Android, Apple, and desktop applications for trading, lending, and interacting with DeFi products and protocols.
To learn more, please read our article: iTokens Go Mobile On Eidoo’s DeFi Exchange.
sUSD listed on Fulcrum and Torque
In response to our community poll, we’ve listed Synthetix’s sUSD stablecoin. sUSD is the base currency used for trading on Synthetix Exchange, a dApp for decentralized derivatives trading.
To learn more, please read our article: Synthetix’s sUSD listed on Fulcrum and Torque.
DAI in Fulcrum earns DSR with CHAI
DAI lent or leveraged using Fulcrum now earns the DAI savings rate (DSR) thanks to our integration with CHAI. As of this writing (1/31), the DSR is 7.75%.
To learn more, please read our article: DAI in Fulcrum now earns the DSR using Chai.
Stream iTokens with Sablier
The app for “real-time payments” now supports payments streamed in iTokens. Sablier allows users to set up cryptocurrency payments that get streamed to the recipient over a specified period of time.
At the request of one of our team members, bZx will begin streaming payments on February 1 as a pilot for making streaming payments available to the rest of the team.
To learn more, please read our article: Streaming iTokens with Sablier.
bZx in the Media
Binance Research highlighted the growth of Fulcrum in their latest report: DeFi #3 - 2020: The Borderless State of DeFi, noting that “the value of its collateral quickly increased to well over $4 million in only seven months.”
Plexus recruiting services featured our own Tom Bean and Kyle Kistner in a recent interview. The guys discussed bZx and shared their thoughts on the development of DeFi.
Kyle was also interviewed by Samuel McCulloch for an episode of End of the Chain podcast.
Thanks to defipicks.com for the write-up on “Interest Bearing Tokens, Zaps, and Smart Contract Money Legos” describing the development of decentralized finance and showing how products like bZx’s iToken can be used to automatically earn interest on digital assets.
DeFi content creator Chris Blec published an Intro to Torque on his Youtube channel. Educating people on how to access and use DeFi is a critical part of its development and we’re grateful to see this type of support.
From the bZx blog
Here are more of the updates published on the bZx blog in January:
We hope to see you at ETHDenver!
Updates to the Torque.loans are live and we’ll have updates to the Fulcrum site ready in the near future.
Thanks for reading and stay tuned for more updates next month!