Tag: DeFi

What is happening with defi, once the market mover?

Explore defi’s initial promise in revolutionizing finance and its journey through market fluctuations and challenges. Emerging as a byproduct of the blockchain revolution, decentralized finance (defi) initially promised a radical shift in the financial sector. However, its journey has been marked by significant fluctuations and challenges. In 2021, DeFi experienced a surge, aligning with the broader bullish sentiment in the crypto market. Its market cap soared to nearly $180 billion in Nov. 2021, underlining the immense investor interest and confidence in this nascent sector.  This period was characterized by innovative…

Best defi crypto to invest in 2024

Discover the top-rated defi tokens with high liquidity and promising communities. Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. The decentralized finance (defi) ecosystem is one of the fastest-growing markets with the promise of allowing investors more control over their assets without needing third-party actors.  The defi total value locked (TVL) rallied to a whopping $179 billion in November 2021. However, according to DefiLlama, with the collapse of high-profile crypto companies in 2022, it dropped to a…

DeFi Has a Risk Problem and It’s Time to Solve It

Not only is the risk not diminishing, but the attacks are also becoming more sophisticated. Take the recent KyberSwap hack, for example, which resulted in losses of $54.7 million. At the time, the protocol called the exploit “one of the most sophisticated in the history of DeFi”, requiring a “precise sequence of on-chain actions”. Similarly, the recent Ledger hack, which saw $484,000 drained from wallets, was intricate and multi-layered, allowing the hackers to stealthily siphon assets from the wallets of unsuspecting users. Source

RWA Protocol Ondo Finance Expands Tokenized Treasury Offerings to the Solana (SOL) Network and DeFi Apps

“The Solana DeFi ecosystem has demonstrated great resilience and growth potential, thanks to its innovative scaling and low transaction costs,” Nathan Allman, founder and CEO of Ondo Finance, said in a statement. “Integrating Ondo’s offerings with Solana not only aligns with our strategic growth but also paves the way for novel decentralized finance applications leveraging tokenized US Treasuries, benefiting a wide array of developers and users.” Source

This defi project may reshape crypto, investors circling

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. As the year comes to a close, investors have been exploring potent projects. Apart from Ethereum (ETH) and XRP, investors have been exploring BorroeFinance (ROE).    BorroeFinance to resolve liquidity problems One of the disadvantages of building in a new industry is skepticism from investors.  Wall Street and traditional financial institutions hardly fund new projects due to the volatile nature of the cryptocurrency industry.  As a result, blockchain developers created…

DeFi Researcher Questions Injective Protocol’s Appeal: Is INJ Overvalued?

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Thor Hartvigsen, a data-driven decentralized finance (DeFi) researcher, is questioning the appeal of Injective Protocol, a layer-1 platform whose creators say is designed to expressly power finance. As of December 2023, INJ, the native currency of Injective Protocol, is one of the top-performing coins, surpassing Bitcoin (BTC) and Ethereum (ETH). Is Injective Protocol Undervalued Based On On-Chain Metrics? Taking to X on December 14, Hartvigsen highlighted the platform’s relatively low total value locked (TVL) of $11 million and the limited number of protocols launched on the platform, currently standing at seven.…

Ledger Exploit Drained $484K, Upended DeFi; Former Staffer Linked to Malicious Code

Although Ledger has updated its own code, Ido Ben-Natan, the CEO of blockchain security firm Blockaid told CoinDesk in a Telegram message that “many websites are still affected and users are getting hit.” For the risk to be completely mitigated, every protocol using Ledger’s Connect Kit has to manually update their version of the library. In the meantime, several protocols remain at risk, specifically revoke.cash, which is a service that is used to remove permissions from DeFi protocols. Source