The USDe token, which is referred to as a “synthetic dollar,” offers yields to investors by pairing ether liquid staking tokens with short ether (ETH) perpetual futures position in the derivatives market to maintain a “rough target” of $1 price. Source
PRESS RELEASE. In an exhilarating development for the decentralized finance (DeFi) community, LendFi announces the launch of its innovative app, now available for download on both the iOS Store and Google PlayStore. This groundbreaking app introduces a suite of utility features designed to enhance user experience and financial empowerment. Among these are staking, peer-to-peer (P2P) […] Source CryptoX Portal
Ethena’s USDe token, often referred to as “synthetic dollar,” offers steady yields to investors by using ether (ETH) liquid staking tokens such as Lido’s stETH as backing assets, pairing them with an equal value of short ETH perpetual futures position on derivatives exchanges to keep a “rough target” of $1 price. This is also known as a “cash and carry” trade, which harvests derivatives funding rates for a yield. Source
The Hashdex conversion comes over two months after the original ten spot bitcoin ETFs started trading on Jan 11. Excluding Grayscale’s GBTC (which entered the spot era with nearly $30 billion in AUM), BlackRock’s IBIT and Fidelity’s FBTC are leading the way in asset gathering, with each having more than $10 billion in assets under management. WisdomTree’s BTCW is the smallest of the entrants, with 1,126 bitcoins and just shy of $80 million in AUM. Original
CryptoX – Cryptocurrency Analysis and News Portal Since the approval of spot bitcoin ETFs in January, DeFi looks ascendant, triggering memories of 2020, aka DeFi Summer, when the space bustled with activity. Source The post Hopes for Another DeFi Summer Soar as TradFi Markets Suddenly Look Less Appealing appeared first on CryptoX. CryptoX Portal
Because the crypto industry remains relatively small, there’s simply not enough capital to lend to people who are bullish and, as a result, they don’t mind borrowing at high rates. While institutions are clearly interested in crypto, they are not actually filling gaps in market demand, Vogelsang pointed out. “A money market off-chain wouldn’t yield 12% just because there’s a lack of supply; someone would fill it. On-chain, that’s not the case,” he said. “It’s a sign of immaturity in that way.” Source
According to Kevin Lu, social finance, or “socialfi” — a combination of social media and decentralized finance — is an innovation that extends Satoshi Nakamoto’s vision of a decentralized financial system to social media. Although it’s not intended to replace today’s traditional social media platforms, socialfi addresses “significant value gaps in current consumer products,” said […] Source CryptoX Portal
Texas apparel company Beba and the Defi Education Fund (DEF) have announced a legal complaint against the U.S. SEC. They allege that the SEC has violated Administrative Procedure Act procedures by adopting an encompassing crypto policy without an official rulemaking process. Additionally, the plaintiffs seek to clarify that a token airdropped to its users does […] Source CryptoX Portal
Road Town, British Virgin Islands, March 26th, 2024, Chainwire Lif3.com is thrilled to announce its integration with Fireblocks, an enterprise platform for building blockchain applications and managing digital asset operations. This collaboration brings together Lif3’s innovative multi-chain DeFi ecosystem with Fireblocks’ trailblazing security solution, including their Direct Custody platform and cutting-edge Non-Custodial Wallets-as-a-Service (WaaS) to enhance safety, security and enhance operational efficiency for the Lif3 ecosystem. With the integration of Fireblocks’ Non-Custodial WaaS, Lif3 (LIF3/USD)(LIF3/USDt), the revolutionary multi-chain DeFi Layer-1 ecosystem that operates on Ethereum, Polygon, BNB Chain, and Fantom,…
Assets Under Management Growth: Valour has experienced a significant rise in its AUM, reaching a record of C$838 million. This represents an increase of 19.8% since February 28th and builds upon a 57.8% growth from January 2, 2024. Surging Demand for Regulated Digital Asset Products: The surge in AUM highlights robust demand for Valour’s comprehensive suite of regulated exchange-traded digital asset products. This indicates the effectiveness of the company’s strategy in aligning offerings with investor interests. Recently launched ETPs include Valour Internet Computer (ICP), Valour Ripple (XRP), and Valour Binance…