Bonzo Bytes Newsletter - #18 🐵🗞️

Hello, Bonzo Community!

This week, Bonzo Bytes brings you the latest milestones in our journey to usher in DeFi 2.0 on Hedera. From the launch of borrowing on Bonzo Finance to exciting leadership updates at Hedera, there’s plenty to explore. Let’s dive in!

Borrowing is Officially Live 🚀

The Bonzo Finance protocol has hit a massive milestone with the launch of its borrowing functionality. This feature unlocks new capabilities for Hedera DeFi users and marks a significant step toward fulfilling the protocol’s mission of becoming The Liquidity Layer of Hedera.

• Supported Collateral Assets: HBAR, HBARX, USDC, SAUCE, XSAUCE.

• Earn Bonzo Points: 📈 8 points per $1 borrowed, 💰 2 points per $1 supplied.

• Risk Management: Powered by LedgerWorks for secure operations.

• Liquidation Bots: Maintaining protocol health and stability.

Learn more: Bonzo Finance: It’s Time to Borrow.

Bonzo NFTs Take the Spotlight

The Bonzo Finance community keeps the momentum going!

Three Bonzo NFTs ranked in the top 10 for 7-day volume on SentX, with a combined total of 96.4K HBAR traded: Cybernetic Bonzo (#3) with 46.9K HBAR, Ocean Bonzo (#5) with 37.1K HBAR, and Singularity Bonzo (#10) with 12.4K HBAR.

Cybernetic Bonzo NFTs offer a 1.05x points multiplier, which can stack with itself and 1st Edition Bonzo NFTs for up to a 2x points multiplier.

Explore Bonzo NFTs on Secondary: SentX Marketplace

TVL Hits $26.95M

Bonzo Finance has surpassed a record-breaking $29.66M in Total Value Locked (TVL) with $3.95M borrowed since the launch of borrowing. This milestone reflects the trust and enthusiasm of the Bonzo Finance community.

Check out the latest stats: Bonzo on DeFiLlama.

This milestone is made even more significant thanks to Bonzo Finance’s partnership with LedgerWorks. Their cutting-edge RiskOps solutions bring advanced machine learning and AI capabilities to Bonzo Finance’s risk management.

Hedera Welcomes Shyam Nagarajan as COO

Hedera has appointed Shyam Nagarajan as Chief Operating Officer, bringing over 20 years of experience in AI, blockchain, and digital transformation. Shyam will lead Hedera’s operational strategy, resilience, and enterprise adoption.

Dynamic Address Book Upgrade (HIP-869)

Last week, Hedera rolled out the Dynamic Address Book Upgrade (HIP-869). This upgrade revolutionizes how node operators manage entries, reducing downtime and decentralizing control.

• New Features: On-chain entry management for faster updates and enhanced transparency.

• Why It Matters: A major step toward true permissionless participation on Hedera.

Eric Trump Confirms Crypto Tax Exemptions for U.S.-Based Projects

President-elect Donald Trump has proposed to eliminate capital gains taxes for U.S.-issued cryptocurrencies, like Hedera, Algorand, and Ripple. This bold move aims to position America as a global crypto leader, while incentivizing web3 businesses to move operations stateside.

Dogecoin Exploit

The 'DogeReaper' exploit caused 69% of Dogecoin’s nodes to crash, exposing severe vulnerabilities in its network. Meanwhile, Hedera’s robust ABFT consensus mechanism stands as a benchmark for security and resilience.

Curious to learn about DeFi strategies and capabilities? From beginner tips to advanced techniques, discover how retail and institutional users across web3 are making use of various decentralized lending protocols: Unlocking DeFi 2.0.

Weekly Bonzo Bytes 𝕏 Space

Join us this Friday, December 20th for the Weekly Bonzo Bytes 𝕏 Space. Stay in the loop with the latest updates, news, and community highlights.

Set a reminder on 𝕏 👇

TGE Countdown: The $BONZO Token Generation Event (TGE) is estimated to take place within 3 months post-mainnet launch of the Bonzo Finance protocol (October 28th, 2024). Stay tuned on Discord and 𝕏 for official details.

Thank you for being part of Bonzo Finance and the Hedera DeFi journey.

- The Bonzo Finance Team