Sushiswap on Polygon, ETH Outperforms BTC, and Rising Gas Prices

Data Digest

• Sushiswap volume and liquidity on Polygon
• Top Sushiswap pools on Polygon
• ETH hits multi-year high against BTC
• Gas prices 3x in just a few hours

Key Takeaways

• Last Friday, it was announced that Sushiswap would deploy its AMM on the Polygon PoS Commit Chain.
• Over $350 million of capital flocked to Sushiswap on Polygon within a day of the announcement.

Key Takeaways

• Polygon is incentivizing six pools (MATIC, WBTC, DAI, USDC, USDT, and AAVE against ETH) with $30 million of rewards in MATIC and SUSHI (50-50). The pools currently yield between 65%-100% annually.
• Naturally, these six pools attracted the most volume and transactions.

Key Takeaways

• ETH/BTC crossed the 0.07 threshold earlier today, marking the first time this price level has been sit since July 2018.
• Last time this level was hit, ETH/BTC was on its way down. But this time ETH looks to be entering a notable uptrend against BTC.

Key Takeaways

• Gas prices are up 10x in the last week, after bottoming out at 35 gwei last week.
• A majority of the increase happened over the last few hours as gas soared from 100 gwei at 7 AM UTC to around 350 by 1 PM UTC. The main catalyst seems to be the trading of SHIB — a memecoin — on Uniswap

Notable Tweets

Alpha Finance announces its newest product — an oracle aggregator

We’re excited to announce the launch of Alpha Oracle Aggregator, with data from two of the largest data oracles providers, @BandProtocol and @chainlink, to ensure security, scalability, and flexibility. ?️

This launch will prepare #Alpha for the upcoming growth stage! ?

? pic.twitter.com/OWtXAIs1l8

— Alpha Finance Lab (@AlphaFinanceLab) May 10, 2021

A rundown of the Rari Capital exploit

1/7

Rari Capital lost a lot of funds as a result of a complex exploit, right?

However, things are far from simple, and we witnessed the first cross-chain exploit, so let’s see how it went? pic.twitter.com/ybqW6lGHTg

— Igor Igamberdiev (@FrankResearcher) May 8, 2021

Deribit introduces the first ever ETH options with a strike price of $50,000

We’ve introduced the 50k strike in the March 2022 expiry!

The highest strike in the history of $ETH?

— Deribit (@DeribitExchange) May 10, 2021