Welcome to the latest edition of Cointelegraph's decentralized finance, or DeFi, newsletter.

Blogging platform Mirror expanded to the public market place this week. Read on to discover the impact of this movement for Ethereum wallet holders.

What you're virtually to read is a more than succinct version of the newsletter. For a comprehensive summary of DeFi'due south developments over the last week, subscribe below.

Mirror expands blockchain blogging to the public

This week, Mirror, a decentralized publishing protocol focused on fostering data ownership and complimentary expression, expanded its platform to the public market for the first time.

In the previous version, a weekly voting competition using the platform's native token, WRITE, determined an exclusive list of ten content creators who could contribute to the platform.

With this announcement, anyone with an Ethereum wallet address can upload content to the site, as well as export blog posts from external sites such as Medium or Substack. These blogs tin and then be minted as "Entry Editions," a nonfungible token feature allowing users to monetize their content.

"Mirror has evolved from a tool for writers to a full-stack web3 artistic suite for communities and DAOs."

Bank of America bullish on DeFi

A Banking concern of America subsidiary house, BofA Securities, released an official study this week concluding its bullish prospects of digital assets, including the DeFi sector, for which it noted at that place is "meaning value in the intermediate-term for DeFi DApps." The study stated:

"Our view is that it's unlikely DeFi will replace the traditional fiscal infrastructure soon, simply its application technologies are probable to provide nearly-term efficiencies and increased transparency to existing firms especially in the areas of tokenization."

In July 2022, Bank of America launched a crypto research team led by crypto and digital nugget strategist Alkesh Shah, devoted to analyzing and assessing the cryptocurrency landscape, this report being just one of many the grouping has published since inception.

Assessing the markets from an analytical perspective, the study ended that an excess of $17 billion was invested into the markets during the outset one-half of 2022, a seismic growth from the $5.5 billion recorded during the same menstruum concluding yr.

MakerDAO plans to back up climate alter

MakerDAO founder Rune Christensen published a candid letter of the alphabet on Tuesday proposing alterations to the protocol'southward activity, which will support climate change initiatives.

Changes could include the assurance that all collateral comprises "sustainable and climate-aligned assets that consider the long-term impacts of financial activity on the environment."

Furthermore, Christensen stated that the project'southward collateral should support investments in sustainable real-world assets including "solar farms, current of air turbines, batteries, recharging stations and other cost-efficient renewable energy solutions, every bit well as their supply bondage, sustainable resources extraction and recycling."

In addition to this, Christensen expressed high expectations for Ethereum's transition to a proof-of-stake consensus, suggesting a return to deposit capabilities for collateral services solely in Ethereum.

Token performances

Analytical data reveals that DeFi's total value locked has increased 12.97% across the week to a figure of $136.04 billion.

Data from Cointelegraph Markets Pro and TradingView shows that DeFi's meridian 100 tokens by market capitalization performed positively across the terminal seven days.

Fantom (FTM) secured the podium'south top spot with an impressive 71.95%. Yearn.finance (YFI) came in a respectable 2d with 24.94%, while Terra (LUNA) bagged third with 22.51%. Quaternary and fifth place were claimed by Wrapped Bitcoin (wBTC) and Mdex (MDX) with 22.23% and 21.65%, respectively.

Extra DeFi stories from the week:

  • three reasons why Terra (LUNA) price hit a new all-fourth dimension loftier
  • DeFi security project 'Lossless' helps recover $16.7M from Foam Finance hack
  • THORSwap closes investment round as cross-chain DEXs take center stage

Thanks for reading our summary of this week'south near impactful DeFi developments. Join us again next Friday for more than stories, insights and education in this dynamically advancing space.