Tag: DeFi

Prioritizing First-Mover Advantage Over Security Leaves Defi Protocols Vulnerable to Hacks – Nikita Ovchinnik

According to Nikita Ovchinnik, founder of Barter Defi, decentralized finance (defi) protocols are increasingly becoming the primary target of most hacking attacks because defi “lays bare its inner workings for all to see.” He said the open-source nature of defi means hackers and malicious actors have ample time to study and identify weaknesses or vulnerabilities […] Source CryptoX Portal

Crypto Custody Firm Fireblocks Offers DeFi Threat Detection for Institutions

“We’ve mapped out the user journey of a DeFi and Web3 trader,” Madar said in an interview. “Usually, it starts when you scan with your phone and connect to a dApp and are asked to start signing transactions. We put mitigations and detection mechanisms throughout this journey. For instance, we scan the transaction, we scan the counterparty, we try to make sense of the contract, and also offer transaction simulation, essentially giving you the bottom line of what you should be expecting.” Source

Orbs VP Ran Hammer Says Future of Defi ‘Hinges on Liquidity Aggregation’

Although decentralized finance (defi) platforms have traditionally focused more on maintaining liquidity and volumes in their respective pools, Ran Hammer, the vice president of business development at Orbs, believes that “the future of defi hinges on liquidity aggregation.” According to Hammer, this shift is evidenced by the emergence of dominant aggregators that optimize trades by […] Source CryptoX Portal

How to generate defi passive income through lending crypto

Learn how to earn defi passive income by lending crypto, including Bitcoin, on decentralized finance platforms. One of the biggest buzzwords in the crypto space today—defi, short for decentralized finance—has made finance cool again. Apart from making financial products decentralized and easily accessible to users from all walks of life, defi platforms also offer them the option to generate passive income from their crypto holdings, including Bitcoin (BTC). In a previous live Q&A broadcast, prominent crypto personality Andreas Antonopoulos shared the best ways to generate passive income with defi on…

Bitcoin Will Power the Next DeFi Summer

Ultimately, the initial buzz about NFTs and blockchain’s expansion turned to fear during the 2022 crypto winter, although this wouldn’t be the end for NFTs. 2023 witnessed a revival in the blockchain enthusiasm, thanks in part to NFTs making a strong comeback, this time taking the form of Ordinals on Bitcoin. Similar to how DeFi Summer revealed new blockchain capabilities, Ordinals and BRC20 tokens showcased Bitcoin’s potential, sparking excitement about the future possibilities of blockchain technology. Source

Yala Unveils Vision to Revolutionize DeFi With Bitcoin

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PRESS RELEASE. [Singapore, April 12th 2024] Yala, a liquidity and stablecoin protocol, is excited to unveil its new vision for the future “to create a thriving, open ecosystem that unlocks the full potential of DeFi on Bitcoin”. This ambition reflects Yala’s dedication to catalyzing mass adoption of decentralized finance on the world’s most resilient blockchain, […] Original

The SEC’s Suit Against Uniswap Is an Opening Attack Against DeFi

“The SEC is very imaginative in the ways that you can be violating their rules,” Bill Hughes, senior counsel and director of global regulatory matters at Consensys, told CoinDesk. Part of the issue, conceivably, is that Uniswap Labs runs the biggest portal onto the Uniswap protocol via uniswap.org. Another potential concern is the UNI governance token, launched to give users some control over protocol governance but could be twisted to look like a securities offering. Source

‘Fighting for DeFi’: Top Decentralized Exchange Uniswap After Receiving Wells Notice From SEC

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One of the biggest decentralized exchange (DEX) platforms says it is “fighting for DeFi” after receiving a Wells Notice from the U.S. Securities and Exchange Commission (SEC). In a new blog post, Uniswap (UNI) says it has recently received a Wells Notice from the SEC, meaning that the regulator is planning on taking enforcement actions against the DEX soon. However, UNI says the SEC’s actions appear political in nature, that it won’t be pulling any of its products off the market due to the notice, and that the decentralized finance…