Crypto fund Multicoin Capital has announced a new fund worth $100 million which will invest in DeFi, NFTs, Web3 applications and crypto infrastructure projects. The fund will focus its DeFi investments on the Solana (SOL) blockchain, which Multicoin has already invested in. Multicoin said that "there will be a burgeoning DeFi ecosystem on Solana written natively in Rust that takes advantage of Solana's performance, and plugs into Serum's composable on-chain order book."

A report published by OKEx Academy, using research from CryptoCompare, found that weekly volumes of CME Ethereum futures hit an all-time high of $353 million for the week ending April 25. This represents a 166% increase on the week prior, in contrast $23.64 million worth of the new contracts were traded during the first trading week.

A paper published by the Federal Reserve Bank of St Louis has explored Ethereum’s booming DeFi sector and its implications for traditional finance. The paper suggested that if security risks are addressed the sector may cause a ‘paradigm shift in the financial industry.’

Webinar: Join Us Tomorrow in a Live Discussion on Asset Management with Bytetree, Copper, 21Shares, Coinshares, and 3IQ.

Sponsored: DeFireX provides yield farming thanks to the collaboration with Venus and PancakeSwap DeFi protocols.

Top stories in the Crypto Roundup today:

• Multicoin Capital Announces $100 million DeFi, NFT & Web3 Fund
• CME ETH Futures Growth Indicates Strong Institutional Interest in Ethereum: Report
• ‘DeFi May Lead to a Paradigm Shift in Finance’: Federal Reserve Paper
• Webinar: Join Us Tomorrow for a Live Discussion on Asset Management
• Sponsored: Introducing DeFireX – A Platform for Risk-Free Yield Farming

Multicoin Capital Announces $100 million DeFi, NFT & Web3 Fund

Crypto fund Multicoin Capital has announced a new fund worth $100 million which will invest in DeFi, NFTs, Web3 applications and crypto infrastructure projects. The fund will focus its DeFi investments on the Solana (SOL) blockchain, which Multicoin has already invested in. Multicoin said that "there will be a burgeoning DeFi ecosystem on Solana written natively in Rust that takes advantage of Solana's performance, and plugs into Serum's composable on-chain order book."

Multicoin expects the ‘Metaverse’, virtual world projects, to be a huge opportunity and that NFTs will play a big role in building out the metaverse. Kyle Samani, managing partner of Multicoin Capital said “One of the most important trends in the world over the last 20 years has been that people spend an increasing percentage of their time online. The Metaverse represents the logical conclusion of that trend."

Web3 was the third focus area for the fund that will help build out the required infrastructure so this sector can flourish “Over the next few years, there is going to be an incredible wave of innovation in Open Finance and Web3, as well as new kinds of crypto-enabled infrastructure and applications," said the firm. "This wave will only be possible because the underlying infrastructure has matured to a sufficient level. We expect to deploy a significant amount into these areas out of Venture Fund II over the next few years."

CME ETH Futures Growth Indicates Strong Institutional Interest in Ethereum: Report

A report published by OKEx Academy in collaboration with CryptoCompare, found that weekly volumes of CME Ethereum futures hit an all-time high of $353 million for the week ending April 25. This represents a 166% increase on the week prior, in contrast $23.64 million worth of the new contracts were traded during the first trading week.

The report indicates that there is evidence of strong institutional interest in Ethereum due to growing capital inflows to ETH exchange-traded products (ETPs) and ETH exchange-traded funds (ETFs). These institutional focused funds which are currently trading in Europe and North America, provide evidence that Ethereum is “becoming increasingly appealing to institutions.”

The report went on to cite three main drivers of institutional interest in Ethereum; normalisation of cryptocurrency investing, growing Ethereum use cases and promising Ethereum updates. The report states “ETH staked in the deposit contract for Ethereum 2.0 now exceeds 3.9 million — an almost 79% increase since Jan. 1, 2021. It seems fair to conclude that the network’s new passive income-generating potential is at least partly responsible for ETH’s recent price performance.”

‘DeFi May Lead to a Paradigm Shift’: Federal Reserve Paper

A paper published by the Federal Reserve Bank of St Louis has explored Ethereum’s booming DeFi sector and its implications for traditional finance. The paper suggested that if security risks are addressed the sector may cause a ‘paradigm shift in the financial industry.’

The report stated that “DeFi may lead to a paradigm shift in the financial industry and potentially contribute toward a more robust, open, and transparent financial infrastructure.” The report comes after DeFi has had a phenomenal year with over 700% increase in the total value locked across the ecosystem according to DeFiLlama.

Webinar: Join Us Tomorrow For a Live Discussion on Asset Management with Bytetree, Copper, 21Shares, Coinshares, and 3IQ

Tomorrow, May 5 2021 at 12pm EST / 5pm BST, we are delighted to conclude the Digital Asset Trading and Technology Series with a live webinar discussing digital asset management. What strategies are available for professionals and institutions entering the space? Are participants relying on existing strategies or building new approaches that are unique to crypto? This panel will dive into the current landscape and opportunities for digital asset management and consider what the future of managing crypto assets may entail.

Introducing DeFireX – A Platform for Low-Risk Yield Farming

DeFireX was launched in 2020 to provide users with liquidity mining pools. The project team has a strong technical background in blockchain development. 

The developers implemented a unique cross-chain bridge between the BSC and Ethereum blockchains, which reduced the farming fee to $ 0.25. Thanks to effective mixing of DeFi protocols, DeFireX users may choose one of the five pools. Currently, DeFireX works with Venus and PancakeSwap protocols in the BSC network.

DeFireX provides yield farming thanks to the collaboration with Venus and PancakeSwap DeFi protocols. Smart contract architects at DeFireX have implemented features of all the above projects in 5 products:

• Staking pool DFX 
• Liquidity pool DFX / BUSD LP 
• Farming pool BUSD
• Farming pool DAI

How to start Yield Farming on DeFireX?

The user needs $10 and a MetaMask wallet. Let's select the DFX / BUSD LP liquidity pool on the BSC network. 

The user needs to deposit BUSD and DFX to the PancakeSwap liquidity pool, so LP tokens will be added to the wallet in a reward. 

LP tokens must be locked in a DeFireX smart contract to provide farming rewards to the user. 

For more information, visit: 🌎Official web-site: 🔈 Telegram — Join Channel,🕊 Twitter — View Twitter Account, 📝 Medium — View Medium Page

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