Tag: DeFi

How will Bitcoin halving affect BTC price, and is DeFi dead?

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On the latest episode of Market Talks, host Ray Salmond spoke with Blockware Solutions account executive David Gamble about the future of Bitcoin (BTC) mining, expectations for the cryptocurrency’s price, and his views on how the decentralized finance (DeFi) sector needs to evolve.  Gamble described himself as a staunch believer in DeFi, but he added that protocols within the industry need to find ways to incorporate tokenized real-world assets instead of relying on mercenary capital and the attraction of liquid staking. According to Gamble, the steady entry of institutional investors…

Curve founder looks to unexpected counterparties to rescue sinking DeFi loans

boss

Curve Finance founder Michael Egorov is attempting to offload some of his DeFi positions to alleviate his mountain of debt, but some have highlighted his liquidity sources. On Aug. 1, Nansen research analyst Sandra Leow posted a list of liquidity sources for Egorov’s Curve DAO (CRV) positions. According to Leow, Egorov sold around 50 million CRV tokens over the counter to several buyers at a below-market rate of $0.40 per token. The sale includes a three to six-month vesting agreement or they can be sold should prices reach $0.80. The…

Michael Egorov’s $100 Million Position, A Risk To Curve Finance And DeFi?

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Following the recent exploit of Curve Finance pools, there have been genuine concerns about the stability of the decentralized exchange and the Decentralized Finance (DeFi) ecosystem. A new report has emerged, raising questions about Curve founder Michael Egorov’s $100 million loan positions. These positions have garnered significant interest, as they are backed by about 47% of the entire CRV circulating supply. With the price of CRV dwindling, these debts appear to be at risk of liquidation, putting the Curve protocol, CRV investors, and the overall DeFi space on edge.  A…

Bitcoin Rebounds to $29.2K, Recovering From DeFi Fears; CRV Jumps 5%, XRP Rises

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Ether (ETH), the second largest crypto in market value, was recently changing hands at $1,850, off 0.3% from Tuesday same time. SOL and ADA, the tokens of smart contracts platforms Solana and Cardano, were a few fractions of a percentage point in the red, while Ripple’s XRP was up slightly, despite a court ruling casting doubt on its partial legal win against the Securities and Exchange Commission (SEC) last month. Original

Curve liquidation risk poses systemic threat to DeFi even as founder scurries to repay loans

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On July 30, Curve Finance, a decentralized exchange on Ethereum, suffered a hack due to a vulnerability in certain pools built using the Vyper programming language. The price of Curve DAO (CRV) dropped 20.91% on the day of the hack, falling to a two-month low of $0.58. The next day, the decline in CRV continued to a seven-month low of $0.48 amid fears of liquidation of hefty loans worth $100 million taken by Curve Finance founder Michael Egorov against CRV as collateral. However, positive developments such as partial repayment of…

DeFi Died and We Didn’t Even Notice

There’s a real trend within crypto media and on Crypto Twitter to discuss any time something goes wrong in the industry as just another chaotic day. We all have brain worms from being online, ha ha, and cannot even comprehend the disappearance of $70 million anymore, ha ha. Is financial pain even real? Well, not really for me, ha ha, but look at how gross Caroline Ellison is, ha ha. Source

How DeFi Protocols are Building More Granular and Extensible Capabilities

In the coming months, we can expect more DeFi protocols to divide their functionalities into extensible, programmable micro-primitives. This will lead to a DeFi landscape that is more granular, flexible, and developer-friendly, but also more complex. If DeFi is to become a true parallel alternative to traditional finance, primitives such as lending and AMMs won’t be sufficient to build sophisticated financial services. Smaller, more targeted, and programmable micro-primitives are necessary. As DeFi continues to evolve, the adoption of these smaller, focused building blocks will likely play a significant role in…

Curve Finance (CRV) Liquidation Threat Spooks DeFi Protocols

Another area of focus for teams has been reinforcing the links that lock DeFi protocols together. Last night, a representative for the stablecoin-focused Reserve Protocol, which builds on top of DeFi majors including Lido, Compound and Rocketpool, asked in their respective Discords for help to establish “a more robust incident response strategy” so that its developers can coordinate across teams during crises such as Curve. Source

DeFi Platform Term Finance Brings Fixed Rate Lending to Ethereum

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