Tag: DeFi

Golden Gate (GGX) Developer Insights and Novel DeFi – Press release Bitcoin News

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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…

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

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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

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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

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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…

Innovate some compliance mechanisms, US Treasury official tells DeFi community

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The United States Treasury did a risk assessment of decentralized finance (DeFi) and found the sector lacking in several ways, Assistant Treasury Secretary for Terrorist Financing and Financial Crime Elizabeth Rosenberg reminded an audience at the Atlantic Council think tank on April 21. Get ready for more regulation, she said. Rosenberg was referring to a report released earlier in April by the Treasury that found scammers, money launderers and North Korean hackers benefitting from the lack of Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) compliance in the sector.…

TransUnion to begin providing identity-protected credit scoring for DeFi lending

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TransUnion, one of the three major United States credit reporting agencies, announced on April 20 that it would begin supplying credit scoring to public blockchain networks. Off-chain credit data have not previously been available to Web3 and decentralized finance (DeFi) applications. In the new TransUnion service, credit information will be made available to decentralized applications, or DApps, at the consumer’s request. Complete credit information will be delivered to the consumer, and excerpts will go to the DApp. TransUnion partnered with Spring Labs and Quadrata to provide credit data through a digital…