The longstanding crypto loans protocol is adding a borrowing service for institutions that will accept their troves of cryptos such as bitcoin and ether as collateral against stablecoin loans. The institutions will pay interest on their loans, generating yield for the DeFi users whose stablecoins Compound lent out. Original Source BiteCompoundCryptoDeFiInstitutionalLenderLoansPieTakes CryptoX Portal
Wintermute, which trades billions of dollars across crypto markets daily, will provide stability for Tron’s native TRX tokens and liquidity for major TRX trading pairs across various exchanges, Tron said Monday. That could help the token, which has daily trading volume of over $390 million across multiple crypto exchanges, data show, placing it among one of the most traded tokens but a fraction of ether’s $22 billion daily volume. Source BitcoinBoomCapitalizeCryptocryptoexchangeDeFiExchangesMakerMarketNetworkSetTRONWintermute CryptoX Portal
America’s first experiment with DeFi didn’t end well and the second one is going badly too. Can we learn the lessons of history to make the third try a success? Source
“I’m usually thinking in blockchain terms, so it’s more of a protocol of how people interact and make decisions. And then we codify some of it in smart contracts, part of it will be codified in the constitution, part of it will be codified in the processes built around it,” Polosukhin said, referring to the computer programs that automatically execute transactions when preset conditions are met. Source
While noting bitcoin’s encouraging rebound from $18,500 earlier in the week, Joe DiPasquale, CEO of crypto asset manager BitBull Capital also said that such resurgences have not been unusual for cryptos during down markets. “While bulls will welcome this bounce, it is important to note how continued bearish price action has intermittent relief rallies, especially as short position holders take profit,” he said. Source
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DeFi dapps showed a slight recovery for the first time since May, with the daily average of unique active wallets (UAWs) increasing 3.7% on a month-over-month basis, according to a report from DappRadar. The rise was partially driven by the Flow protocol, which rose 577% UAW due to Instagram’s support of its NFTs and the game Solitaire Blitz. On the other hand, Solana UAW shrank by 53% in August from the previous month, while transactions dropped by 68%, the findings showed. There were 1.67 million unique wallets connected to blockchain DApps in…
The risks for both protocols, Compound and Aave, and perhaps other DeFi lenders, are similar: Airdrop speculators could suction up ETH deposits thereby creating liquidity constraints for other users. Indeed, other DeFi protocols are seeing users swap out ETH-derivatives, like Lido’s staked ETH (stETH), which won’t receive airdrops and is now trading at a significant discount, for ETH, which will. Source
Notional will offer three leveraged vaults, which are slated to go live in October. The leveraged vaults will allow Notional’s protocol to earn more revenue from transaction fees and reduce its dependence on liquidity incentives, with users gaining access to higher interest rates as borrowing demand increases, Notional co-founder Teddy Woodward told CoinDesk. Original Source DeFiLendingLeveragedNotionalOfferProductProtocol CryptoX Portal
Standard setters see DeFi, which uses software to replicate traditional financial services like lending, as the next step in crypto markets. But in a series of articles published this week by financial lobby group Eurofi, regulators say they aren’t sure how they can curb the risks associated with DeFi like money laundering, cyberattacks and scams. Source