The DeFi Drop Volume 14 | Bittrex Exchange

Each week, we’ll round up the hottest news across the DeFi ecosystem to help you keep up to speed. 

Following a flurry of regulation, Chinese users are moving their money off centralized exchanges and onto DeFi. The main driver was the decentralized layer 2 dYdX exchange, whose volume surpassed nearly all Ethereum-based DEXs alone this weekend. (Twitter) 

Twitter rolls out tipping for users, initially based in Bitcoin, Ethereum and USD. The moves comes with an additional announcement to add NFT profile picture verification for users. (The Block) 

Bitfinex accidentally submitted a transaction that tipped the validating miner with thousands of ETH, totally nearly $23M. The miner returned most of the ETH to the exchange in good faith. (Coin Telegraph) 

In a Twitter ruse, user @0xbunnygirl impersonated Sushi Swap ($SUSHI) CTO Joseph Delong and falsely announced his resignation from Sushi. The joke’s effects permeated beyond Twitter. Delong revisited the joke tweet to share a reply including a link from Chinese media reporting on the fake news. (Twitter) 

Aave Arc, a permissioned version of the popular DeFi lending platform Aave, is getting ready for its first deployment. (The Block) 

Quietly, $ETH locked and deposited into DeFi contract approaches new all-time highs. (Twitter) 

Explore the multi-chain universe, and understand how Ethereum competitors stack up to each other against key adoption metrics. (The Defiant) 

The Balancer ($BAL) community approved a bevy of new liquidity pools with mining incentives this past week, including dual incentives across a number of pools. (Balancer Twitter) 

A Solana-based decentalized exchanged called Orca raised $18 million in a Series A round led by Three Arrows Capital, Polychain Capital, and Placeholder VC. (The Block)