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Generate Your NFT

 DeFi has found its way into Elon Musk's Twitter poetry while a “beeple generator” now enables anyone to become an NFT artist.

The Binance Smart Chain (BSC) was able to get closer to the DeFi-Primus Ethereum in the past week. The value of the assets stored in BSC's DeFi applications (Total Value Locked, TVL) has risen from USD 15,425 billion to USD 17.825 billion in the last seven days.

The TVL growth of over 16 percent can only be partially explained by the price development of BNB, the primary asset of the Binance Smart Chain: Binance Coin is trading at USD 277.3 at the time of going to press and was therefore “only” 4. 3 percent increase.

The fact that the TVL is growing faster than the BNB rate indicates a growing use of BSC-based platforms. The Uniswap clone PancakeSwap still dominates there with a TVL of 6.1 billion USD, closely followed by the crypto-lending protocol Venus, which weighs 5.96 billion USD. With the stablecoin exchange Ellipsis Finance, an offshoot of the Ethereum-based Curve Finance, a newcomer jumped the billion mark and has landed in fourth place among the largest BSC platforms after TVL.

Ethereum DeFi with TVL losses

With a TVL of over 40 billion USD, Ethereum still plays in a different league than the BSC - and in terms of decentralization probably also a different sport. Still, the Ethereum-based DeFi sector posted slight losses in terms of TVL in the past week. On March 21, this was still around 46 billion US dollars, but over the course of the week it slipped to 38 billion US dollars. At the time of going to press (March 28), assets worth $ 41.172 billion are deposited in Ethereum-based DeFi platforms. This means that the TVL has buckled by around 10 percent within a week.

Here, too, the TVL expressed in dollars is only partially meaningful - after all, it depends largely on the course of Ether, the central asset in the Ethereum DeFi sector. At the time of going to press, Ether is printing a 7-day minus of 5.4 percent. But the number of ETH tokens that are locked away in DeFi Smart Contracts has remained almost unchanged at 9.3 million ethers in a weekly comparison.

30-day development ETH-TVL. Source: DeFi Pulse

So far there can be no talk of a DeFi exodus in favor of the Binance Smart Chain.

Elon Musk: Don’t Defy DeFi

After Elon Musk had already delighted the Bitcoin and / or Dogecoin communities with his tweets, the Tesla boss has now caused a sensation with a DeFi tweet. In an enigmatic tweet, the tech entrepreneur reached into the all-important box. On March 25th, Musk wrote the line “Don't defy DeFi” - don't defy DeFi.

That made Tron founder Justin Sun speculate about possible DeFi use cases for Tesla. Sun proposes a Tesla token that rewards Tesla drivers for driving. Opposition to Musk's tweet came from Bitcoin podcaster Peter McCormack, who made no secret of what he thought of the sector with “Do Defy DeFi”.

NFT-Generator: Be your Own Beeple

Anyone who says DeFi has to say NFT these days: The hype about digital collectibles has not yet stopped. One of the most recent blooms of style is the auction of the teaser video for Uniswap V3, the largest decentralized exchange (DEX) on Ethereum. The tokenized trailer went to its new owner on Friday for 310 ETH (around 533,000 USD).

The absolute NFT record is still held by the digital collage “Everaydays: The First 5000 Days” by the artist Beeple, which went under the virtual hammer for the equivalent of 69.3 million USD .

A non-partisan Shiba Inu: Image created with Beeplgenerator.com

Anyone who aroused desires could take a look at the beeplgenerator.com website. It can be used to generate, render and download iconic, surreal 3D images. Appropriately, the website itself can also be purchased as an NFT. Even if the list price of 43,000 wrapped ethers is anything but a bargain.

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