Skolem Segments: April Roundup

Welcome to Skolem Segments, a newsletter where our team shares updates to the business and interesting DeFi opportunities and developments.

Skolem Announcements

Skolem is migrating from Substack to our own mailing and newsletter platform, so you may notice minor changes to our monthly Skolem Segments in your inbox moving forward!
Skolem is excited to share the launch of our blog, which is where our research and thought leadership will now exist. Check out our most recent blog posts if you missed them here: Why get into DeFi Now? and DeFi Data: Monitoring the Stablecoin Depeggings of USDC, USDD, and UST.
Skolem is excited to announce the release of our new website! At skolem.com, you’ll find a refreshed reflection of our brand and product offerings.

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State of the Market

DeFi Yield Opportunities

These are some of the most interesting new yield opportunities surfaced by the Skolem team.

Any information covered in Skolem Segments should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions. Any mention of a token or protocol should not be considered a recommendation or endorsement.

[GLP] 32% APY with GLP by depositing GLP on Plutus DAO
- Yield is auto-compounded and earned in GLP and PLS
- To participate, deposit GLP for plvGLP into the Plutus DAO GLP Vault
- Risk: PLS is a volatile token and is subject to price risk; Plutus DAO farms and vaults also present smart contract risk
[ARB] 12% APY with ARB by depositing ARB on Plutus DAO
- Yield is auto-compounded and earned in PLS (protocol emissions)
- To participate, deposit ARB for plsARB into the Plutus DAO ARB farm
- Risk: ARB and PLS are volatile tokens and subject to price risk; Plutus DAO farms and vaults also present smart contract risk
[ETH, cbETH, rETH] 8% APY with ETH by depositing ETH staking derivatives on Sommelier Finance
- Yield is earned in SOMM
- To participate, deposit cbETH, rETH, or ETH into the Real Yield ETH strategy
- Risk: ETH and SOMM are volatile tokens and subject to price risk; Sommelier Finance presents smart contract risk
[USDC, USDT, DAI] 5% APY with stablecoins by depositing USDC, USDT, DAI on Sommelier Finance
- Yield is earned in SOMM
- To participate, deposit USDC, USDT, or DAI into the Real Yield USD strategy
- Risk: ETH and SOMM are volatile tokens and subject to price risk; Sommelier Finance presents smart contract risk
[USDC] 13% APY with USDC by depositing USDC on Conic Finance
- Yield is earned in CRV, CVX, and CNC
- To participate, deposit USDC into the USDC Omnipool in “Conic Omnipools”
- Risk: CRV, CVX, and CNC are volatile tokens and subject to price risk; Conic Finance presents smart contract risk

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DeFi Developments

Institutional Adoption

Google Cloud partners with Polygon to provide Blockchain Node Engine service
Mastercard partners with Aptos, Ava Labs, Polygon, and Solana to develop new set of standards dubbed the "Mastercard Crypto Credential"
PayPal introduces crypto transfers for 60mm+ Venmo customers
TransUnion, one of the three major U.S. credit reporting agencies, plans to deliver off-chain credit scoring to DeFi applications
Krafton, South Korean studio behind the hit game PUBG, plans to launch metaverse gaming platform in 2023
Square Enix, creator of Final Fantasy series, partners with Elixir Games to bring more Web3 games to mass audience
Societe Generale-FORGE launches EUR CoinVertible, a Euro-based stablecoin
BNY Mellon expands digital asset team with former Zodia Custody CEO Maxime de Guillebon, who will serve as Head of Digital Assets Product
Twitter partners with eToro to provide crypto charts and eventually trading access from the app
Avalanche launches 'Evergreen' Subnets, a suite of institutional blockchain deployments, customizations, and tooling for financial services
Michelin launches inaugural NFT collection, which may have benefits related to travel and Michelin restaurants

Asset Tokenization

Franklin Templeton OnChain U.S. Government Money Market Fund launches its tokenized mutual fund on Polygon blockchain
OpenEden comes out of stealth to launch tokenized T-Bill vault

Regulatory

Hong Kong Securities and Futures Commission to issue crypto exchange license guidelines in May
UK government seeking views on modifying tax treatment of DeFi lending and staking
Gemini and Coinbase set to expand presence beyond U.S. amidst regulatory uncertainty
EU officially passes its MiCA regulation, set to come into play in July after the 27 member states formally approve it
NYDFS regulator Adrienne Harris claims the failure of Signature Bank was not driven by crypto (according to Harris, <5% of total deposits during the SVB bank run were crypto-related)
Gary Gensler was pressed by House Republicans over the SEC's lack of clarity on whether Ethereum is a security - full hearing here
U.S. House of Representatives drafts new stablecoin bill to provide a comprehensive regulatory framework - watch or listen here
Paxos and dYdX are exiting the Canadian market amid new regulatory pressures

Contact Us

If your team is interested in reaching out to the Skolem team, please email us at sales@skolem.com or reach out on our website at skolem.com.