The total value of all assets locked on decentralized finance (DeFi) protocols has surged to a three-month high of $42 billion after being at its lowest point since February 2021 just two weeks ago. Source
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past week in DeFi was filled with bullish resurgences for many projects, but it was the Uniswap founder’s $650 billion HayCoin (HAY) burn — 99% of the token supply — that grabbed headlines. In other news, a new report highlighted that 85% of the rug-pulled DeFi projects in Q3 didn’t report an audit, and the largest DeFi protocol on Solana has…
Gains Network, initially released on Polygon and later on Arbitrum, allows users to trade financial derivatives of cryptocurrencies, foreign exchange and commodities by matching buy-sell orders using smart contracts. Original
According to an Oct. 24 memorandum, digital asset management firm Hashdex has had a discussion with the SEC about their ETF filing that would purchase physical Bitcoin. In a follow-up post on X, Nate Geraci, the co-founder of the The ETF Institute and host of the ETF Prime Podcast, shares the importance of this ongoing dialogue and why it is interesting for the community. Looking back to 2022 The memorandum, which included a presentation from Hashdex, shares that the CME market has sufficiently developed to support its new product, quoting the…
In this week’s “Crypto Long & Short,” Todd Groth investigates the interplay between TradFi and DeFi yields and why comparisons across markets are often overly simplified apples vs oranges. Source
For DeFi to Flourish, Right-Size the Regulators Source
Cointelegraph’s Hashing It Out podcast talked with MultiChainZ chief operating officer Aanchal Thakur to discuss a popular decentralized finance (DeFi) use case: lending. Host Elisha Owusu Akyaw and Thakur explored what makes a cross-chain lending platform different from other platforms and the potential risks it entails. Other highlights include conversations about institutions, DeFi lending, nonfungible token lending, and how projects embrace decentralized autonomous governance. Thakur started her cryptocurrency journey by falling for a crypto doubling scam, which she claims taught her an important lesson to take her research of the industry…
Devin Walsh, Executive Director of the Uniswap Foundation, a non-profit organization supporting the growth and decentralization of the Uniswap decentralized exchange (DEX), believes that Uniswap is decentralizing. Walsh even compares the current state of the DEX to that of Ethereum. The executive also acknowledged that the DEX’s current level of success is due to the active participation and contribution of the developer community. Uniswap Becoming More Decentralized? The Executive Director responded to a thread on X where Antonio Juliano, the founder of dYxX, a layer-2 DEX on Ethereum, insinuated that Uniswap is…
Ethereum decentralized finance (DeFi) protocol Hope Lend has next to zero assets left in its protocol after a devastating hack. According to multiple blockchain security firms, on Oct. 18, two individuals — a frontrunner who beat the original hacker after discovering the exploit and the original hacker themselves — stole a combined 526 Ether (ETH) from Hope Lend, worth $825,357 at the time of publication. “The successful attacker gained 264 ETH and paid a 263 ETH bribe to an ETH validator,” wrote CertiK. Hope.money, the DeFi protocol’s developer, presented a different…
PEAK LIDO? As Ethereum transitioned over the past year to a fully functional proof-of-stake blockchain, market observers chronicled the staggering rise of Lido Finance, which effectively allows investors to stake their ether (ETH) – and thus earn rewards, yield – while also getting a token, stETH, that they can trade in the meantime. For many, that combination proved more attractive than the technically cumbersome job of setting up a validator and locking up ETH into the main blockchain. The problem now is that Lido has become too popular – bumping…