Centralized exchanges will continue to serve as a first step into crypto but decentralized exchanges will further the future of financial systems, panelists say at Consensus. Source
CeFi Exchanges Helped Mass Crypto Adoption. DeFi Will Further It
Tag: DeFi
DeFi Protocol iZUMi Finance Raises $22M
The fundraising round was more complicated than a typical “cash in, equity out” arrangement. The company issued an iZUMi zk-Fund through strategic partner Solv Protocol that is a semi-fungible token, or SFT. Investors who purchase the fund receive an SFT in their wallet to represent their share, making them a limited partner of the fund. Upon maturity, investors can redeem the SFT for their principal. Source
Golden Gate (GGX) Developer Insights and Novel DeFi – Press release Bitcoin News
press release PRESS RELEASE. Golden Gate (GGX) is a novel interchain infrastructure protocol that eliminates Layer 0 communication friction by delivering protocol-agnostic communications and more secure liquidity transfer. Golden Gate mediates interchain communication via the Incentivized Message Delivery Protocol (IMDP), which uses a network of couriers running light clients to deliver messages for efficient cross-chain communication. Golden Gate supports the IBC, XCMP, and LayerZero communication protocols, amongst others, making it universally composable across Web3 infrastructure. With this architecture, Golden Gate delivers a next-generation programmable layer 0, enabling developers to leverage…
DeFi Protocol DFlow Raises $5.5M From Framework Ventures, Coinbase Ventures, Others.
“If you look at equities markets, retail investors don’t trade directly on the NYSE, they trade on Robinhood against market makers, who may hedge on NYSE,” said DFlow founder and CEO Nitesh Nath, who previously worked as a quant researcher at the Chicago-based trading giant DRW. “We’re improving that system in crypto, but the high level ideas are similar.” Source
Binance enables greater flexibility for WBETH DeFi users
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Wrapped beacon ethereum (WBETH) is now available on the ETH Staking service at Binance, the largest cryptocurrency exchange in the world. To ensure that users are eligible to collect the matching ETH staking incentives accumulated, DeFi has created a new liquid staking token that may be used in projects outside of Binance. Binance will begin using the new name for ETH Staking, formerly known as ETH 2.0 staking. Token holders may convert their BETH to WBETH…
DeFi Meets TradFi, Policy Debate, Web3 Builders and More
If you’re unfamiliar, Consensus is a three-day conference in Austin. It’s run by CryptoX, and it brings together major figures in crypto, finance, Web3, regulation, entertainment and more for three days. This year, it will take place April 26-28. Short of going to Austin or attending with a virtual ticket, the best way to keep up with what’s happening at the conference is to follow CryptoX. For regular daily updates on the show, you can subscribe to the official newsletter, The Node. Source BuildersDebateDeFiMeetsPolicyTradFiWeb3 CryptoX Portal
DeFi options protocol raises $17M for buy-side marketplace
Thetanuts Finance, a decentralized finance (DeFi) protocol offering crypto options contracts, has raised $17 million to offer a buy-side marketplace and expanded list of coins, according to an April 24 announcement from the team. Thetanuts Finance has completed a $17M institutional funding round led by @Polychain, @HyperchainC & @Magnus_fund, supporting our ambition to create a thriving two-way altcoin option market and continue to push the boundaries for structured DeFi products.https://t.co/BH4aOUEckd pic.twitter.com/mmGBuCmBHu — Thetanuts Finance (@ThetanutsFi) April 24, 2023 The funding round was led by crypto investment firms Polychain Capital, Hyperchain…
Redefining the yield ecosystem with Cake DeFi CEO
The first quarter of 2023 provided much-needed relief to the entire crypto community — from investors and miners to businesses and developers — as Bitcoin’s (BTC) bull sprints helped crypto market participants recoup losses from prior investments. However, not all sub-ecosystems managed to replicate the recovery with the same intensity. In particular, the decentralized finance (DeFi) sector suffered massive hacks, ultimately shaking investors’ confidence. The DeFi ecosystem initially attracted investors seeking passive revenue streams, but 2022’s unforgiving bear market nullified many of the gains made from assets earned over time.…
DeFi Protocol Thetanuts Finance Raises $17M From Polychain Capital, Hyperchain Capital, Others
Thetanuts Finance is a DeFi firm offering a range of crypto structured products that cater to a wide customer base, including option traders, decentralized autonomous organizations (DAOs), market makers and other liquidity providers. Users of the platform can earn yield on major cryptocurrencies and popular altcoins, provide liquidity, and execute short and long options strategies. Source
Value Locked in Defi Descends Below $50B Range 9 Days After 2023 High – Defi Bitcoin News
The total value locked in decentralized finance (defi) has descended below the $50 billion range after reaching a 2023 high of $53.63 billion on April 14. This shift has been felt across the board with the top 18 defi protocols recording losses during the past seven days, and the largest defi protocol by TVL size, Lido, losing 8.25% over the past week. 18 of the Top Defi Protocols Recorded Weekly Losses Crypto asset markets have experienced volatility in the past seven days, and on Sunday, April 23, 2023, the total…