Celsius brings in $ 400 million and Rari’s profit is 7.5k%, 11-15. October

In the week that Rari Capital hit the $ 1 billion TVL milestone, read on to find out why OlympusDAO is four-digit on its most popular protocol.

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C Network raises $ 400 million to expand organization services

Cryptocurrency lending platform C Network announced this week a $ 400 million round of capital led by Canadian pension fund Caisse de Đépôt et position du Québec (CDPQ) and private equity firm WestCap.

The company has announced its intention to use the funds in a twofold strategy: to strengthen its institutional product and service offering and to double its workforce to almost 1,000 employees worldwide.

Celsius Network CEO Alex Mashinsky revealed to Cointelegraph the financial impact the platform is having on the credit sector:

“With over $ 25 billion in assets and over $ 850 million in profits paid out to over 1.1 million users, Celsius has paid out ten times more profits to the crypto community than any other donor. Any other loan . “

This funding news coincides with tightened political scrutiny of crypto lending platforms in the United States. In September of that year, Celsius faced legal opposition from the Texas State Securities Commission and the New Jersey Securities Bureau to threaten to cease operations for the alleged sale of unregistered securities.

Even so, Celsius has always maintained its innocence of wrongdoing and is ready to communicate and cooperate with regulators.

Rari Capital raises $ 1 billion TVL

The DeFi protocol Rari Capital surpassed the Total Value Locked (TVL) of $ 1 billion this week and hit an all-time high of $ 1.225 billion, according to analytics from DeFi rating platform Pulse.

The eight-digit figure marks a spectacular increase from $ 500 million two weeks ago to just $ 100 million three months ago. Launched in July 2020, Rari offers an automated profit optimization strategy for DeFi participants who want to ensure the highest possible return on their investment.

Some of its liquidity pools have attracted notable attention due to their lucrative returns, such as USDC deposits, which offer an annual percentage return (APY) of 21.67%, and the Dai pool, which offers 26.43% APY.

Despite this above-average, industry-standard return, OlympusDAO has really made headlines in Fuse Protocol’s Tetranode Locker for the past few months.

OlympusDAO is an algorithm-centric rebase model where token balances fluctuate over time based on changes in token prices and circulating supply. As written, the OlympusDAO sOHM token provides a seismic APY of 7.594%.

DeFi volume is increasing in North America

Monthly crypto trading volume in the North American region rose 1,000% in the one-year period from July 2020 to June 2021 thanks to a thriving DeFi sector, according to data released this week by analytics platform Chainalysis.

The Crypto Annual Geography Report found that monthly volume peaked at $ 164 billion in May 2021, before dropping to $ 100 billion in June.

David Gogel, Head of Growth at the decentralized futures exchange dYdX, commented on the results that the largest volume of records was driven by private clients:

“At the moment, DeFi is aimed at crypto insiders. These are people who have been in the industry for a while and have enough money to test new assets. “

Token demonstration

Analytical data shows the total value of DeFi banned for the week increased 8.11% to $ 146.89 billion.

Data from Cointelegraph Markets Pro and TradingView shows the top 100 DeFi tokens by market capitalization Diversity by past seven days.

Perpetual Protocol (PERP) has secured first place on the podium with venerable 29.7%. RenBTC (Yuan) ranks second with 6.03%, while Wrapped Bitcoin (wBTC) ranks third at 6.00%.

Analysis and deepening from last week:

Thank you for reading our roundup of this week’s most influential DeFi developments. Come back next Friday for more stories, insights, and education in this dynamically evolving space.