Like any secondary market, the platform will allow for a discount on the TBTs based on the duration of the locked-up asset. For example, a trader could bid for 3% discount on ether (ETH), that has a 10-month lock up period and the discount could change based on the time the asset is locked up for, said Pyle. Source
The United States Justice Department’s crypto enforcement team is cracking down on Decentralized Finance (DeFi) hackers and exploiters, amid a four-year rise in illicit crypto activity. In a Financial Times report published on May 15, Eun Young Choi, director of the U.S. Department of Justice (DOJ) national cryptocurrency enforcement team (NCET), stated that the department is focusing on thefts and hacks involving DeFi and “particularly chain bridges.” Choi said it was a “pretty significant issue” for the DOJ given North Korean “state-sponsored hackers” have emerged as “key actors in this space.” North…
In less than two weeks, the total value locked (TVL) in liquid staking derivatives has increased by 441,110 ether, worth roughly $793 million. While Lido Finance dominates the market with 74.35% of the TVL, competing liquid staking protocols Rocket Pool and Frax Ether have recorded double-digit gains of 34% to 42% in the past 30 days. Number of Ethereum Locked in Liquid Staking Derivatives Nears 9 Million Liquid staking protocols continue to grow, with the top decentralized finance (defi) protocols recording an additional 441,110 ethereum (ETH). As of May 12,…
Therefore, our framework calls for strictly voluntary, not mandatory, DEX registration to embrace the competitive benefits of rapid DEX development without prior restraint. DEXs that want to signal their compliance with the same standards as CEXs – for example, through automated controls – can do so with voluntary registration. But making registration optional allows for greater experimentation in consumer protections, as DEXs need not seek pre-approval from inherently risk-averse regulators before launching novel technical safeguards. In addition, voluntary registration avoids creating adverse selection, where low natural barriers to entry in…
The protocol aims to eliminate the need for token bridges, wraps and swaps to make moving crypto tokens between blockchains safer. Source
MakerDAO, a decentralized autonomous organization that operates on the Ethereum blockchain and issues stablecoin DAI, has announced that it has launched the Spark Protocol, a lending solution for DAI users. Announcing the Spark Protocol launch ⚡️ Starting May 9, 2023, Spark Protocol will be available to all DeFi users. An end-user, DAI-centered DeFi product deployed on Ethereum with supply and borrow features for ETH, stETH, DAI, and sDAI. pic.twitter.com/oLa8oeBmL1 — Maker (@MakerDAO) May 8, 2023 According to the Twitter announcement, the first version of the Spark Protocol will act as a…
Three top European regulators will get together to discuss the implications of the Data Act and provide more clarity with the goal of not stifling DeFi innovation. As Europe embarks on its journey to bring clear crypto regulations in place, the blockchain industry is making a final push in preventing laws that would crush the smart contracts underpinning the decentralized finance (DeFi) protocols. The lawmakers are currently having negotiations over the Data Act, which will be concluded by the end of June. This Data Act seeks to regulate data shared…
Since April 18, 2023, the total value locked (TVL) in decentralized finance (defi) has been fluctuating just below the $50 billion threshold. As of today, the TVL amounts to $49.31 billion, registering a 1% increase within the last 24 hours. TVL in Defi Shows Signs of Improvement, Yet to Surpass Previous Record of $53 Billion Currently, the combined TVL across all defi platforms stands at $49.31 billion as of May 6, 2023, with Lido Finance leading the pack by commanding a 24.82% share of $12.24 billion on Saturday. Over the…
In episode 18 of Cointelegraph’s Hashing It Out podcast, Elisha Owusu Akyaw sits down with Matt Leisinger, chief product officer at Alluvial — a software development company supporting the implementation of the Liquid Collective protocol — to explore the world of crypto staking and its potential to attract institutional investors. Leisinger explains the Liquid Collective and shares his thoughts on the future of Ether (ETH) staking after the Shanghai upgrade. Matt Leisinger started his carrier in the traditional finance sector and shifted to trading cryptocurrencies in 2016. Leisinger invested in…
David Lesperance, managing director and tax advisor at Lesperance Associates called the HMRC’s proposal an “excellent result,” in a statement. Meanwhile, lawmaker Lisa Cameron, chair of a cross party group for crypto in Parliament, said she was hopeful this would be the first step towards a comprehensive tax framework. Source