OpenSea's fee deductions, Ethereum's Shanghai update & some news for our readers

Beefy Finance 🐮

Welcome to the 47th edition of DeFi Fridays!

Access all the previous editions here.

101 today:

• Protocol of the week: Beefy Finance 🐮

• Major happenings in the ecosystem. 🔰⚠

• In this week’s good reads:

  • Highlights from Vitalik and Balaji’s podcast.

  • Ethereum’s Shanghai Update and what to expect.

Protocol Of The Week: Beefy Finance

What is Beefy Finance?

Beefy Finance is a multi-chain yield aggregator. It gives users the best compounded yield on their crypto tokens. The best part? It does it all with the help of code, removing the need for manual movement of assets, thereby saving time, effort and gas fees. 

What are they doing? 

They are providing users with compound-yield farming opportunities, with the highest safety standards in the defi ecosystem. 

Beefy finance not only compounds the interest you get, but it also reinvests it in assets, which bring greater returns to users. 

How are they doing it?

Let us understand that with an example:

Arni invests $10,000 with a bank that pays 12.5% (simple) interest. At the end of 5 years, he will have $16,250.

With compound interest, the same principal will yield $18,020.

Beefy Finance, combines the compound interest with additional promotional tokens that it sells on your behalf in order to purchase more of what you staked, to give a greater return.

Investing $10,000 with an APY of 28% in Beefy, will fetch you $34,386 in 5 years. 

To learn how to navigate Beefy Finance, click here.

We explain one DeFi Protocol every Friday:

Major News in the Ecosystem:

OpenSea revises its fee structure.

OpenSea @opensea

We’re making some big changes today: 1) OpenSea fee → 0% for a limited time 2) Moving to optional creator earnings (0.5% min) for all collections without on-chain enforcement (old & new) 3) Marketplaces with the same policies will not be blocked by the operator filter

SEC updates its rules about the crypto space.

Gary Gensler @GaryGensler

We @SECGov just proposed to expand & enhance the role of qualified custodians when registered investment advisers custody assets on behalf of investors. Thru our rule, investors would get the time-tested protections—and qualified custodians—they deserve. What does this mean? ⬇️

More Good Reads:

✍️Intern Notes on The Network State Podcast.

✍️How can the Shanghai Update affect ETH prices?

Some news:

Hey readers,

We've made the tough call to discontinue DeFi Fridays, and this will be the last edition. We understand this may be disappointing, but we believe it's the best decision for our team and subscribers. We've loved sharing our DeFi insights with you regularly, and please know that we remain grateful for your trust in us.

Thanks for being a part of our journey, and we wish you all the best in your future endeavors.

Sincerely,

Brew Money Team 

Note: You can always reach us at hello@brew.money