Tag: DeFi

Aptos falling as Tradecurve remains firm, attracting DeFi fans

The recent altcoin revival captured investors’ attention, but not all tokens benefited. Aptos, for example, is down on the daily chart. On the other hand, Tradecurve’s prices are trending higher, drawing more decentralized finance (DeFi) enthusiasts. >>Register for the Tradecurve presale<< Aptos in the red zone Aptos recently released the Petra Wallet on Google Play and the Apple App Store. Moreover, the project also introduced the Aptos Improvement Proposal (AIP-10), Move Objects. The proposal aims to enhance resource control and ownership management performance and storage. As of July 11, 2023,…

If DeFi Wants To Grow, it Has To Embrace Real-World Assets

DeFi is big in the crypto world. But, if we look at the overall financial industry, it remains a tiny, almost minuscule niche market, albeit one with potential. DeFi is still taking its first baby steps, but, if it’s to stand tall on its own two feet, it desperately needs a way to connect with the traditional financial ecosystem, where it can tap into real businesses and institutional investors. Source

Centralized exchanges will become gateways for DeFi — dYdX Foundation CEO

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The dYdX Foundation, an independent decentralized finance (DeFi) nonprofit founded to support the dYdX protocol, recently launched a public testnet for its latest version, v4. According to the foundation, this puts dYdX ahead of schedule for the impending launch of the v4 mainnet, something the foundation claims represents complete decentralization for dYdX. As Cointelegraph recently reported, the July 5 testnet launch represented the fourth of five milestones the dYdX Foundation laid out in a roadmap toward decentralization last year. In its current live version, dYdX is still considered partially centralized.…

Uniswap’s New UniswapX Feature Aims to Eliminate DeFi Pain Points Like MEV

Uniswap, the world’s largest decentralized exchange (DEX) according to the website DefiLlama with about $3.8 billion of collateral or “total value locked,” says that UniswapX addresses many of the pain points of on-chain trading and self-custody swapping. Features include “better prices” by aggregating liquidity sources, according to the press release, along with gas-free swapping, protection against maximal extractable value, or MEV, and no cost for failed transactions. Source

Solana DeFi Lender MarginFi Attracts Record Growth, Airdrop Farmers

One token that keeps hitting the max is bSOL, the LST issued by Solana validator service SolBlaze. The 5,000 bSOL tokens currently deposited on MarginFi represent nearly 7% of all bSOL tokens in existence; even more are waiting on the sidelines, said the pseudonymous founder of SolBlaze (who goes by SolBlaze). The founder is cutting trading deals across Solana DeFi to increase bSOL’s prominence, and thus its liquidity, and therefore its caps on MarginFi. Source

BIS report claims crypto is centralized and DeFi amplifies risks

The Bank of International Settlements (BIS) recently showed skepticism about the potential role of crypto in the global monetary framework, citing flaws that originate from the incentives of validators rather than the technology itself. In a comprehensive report, the BIS argued that the reality of the crypto ecosystem deviates significantly from the vision of decentralization commonly championed by enthusiasts.  The bank pointed to the 2022 collapse of the FTX crypto exchange as a stark reminder of this dichotomy, stating: “Cryptocurrencies often boast of decentralization, yet we see the rise of new centralized…

A Second Round of the Lummis-Gillibrand Crypto Bill Elevates U.S. CFTC, Defines DeFi

About a month ago, the senators met with Lael Brainard, director of the White House’s National Economic Council and a former Federal Reserve governor who oversaw its research into central bank digital currency (CBDC), going over the details of the legislation for about an hour, said people familiar with the effort behind the new bill. The lawmakers’ staffs have also had regular contact with the relevant financial agencies, the people said. They said this bill was designed to find a middle road between the parties, and many of its provisions…

Tradecurve likely to pump in July, may dethrone Aave in DeFi

Investors are constantly seeking opportunities to gain profit in the cryptocurrency market, which has a reputation for delivering returns in some instances. Presently, the focus is on Tradecurve, and analysts predict that its native token, TCRV, will surge in July. It is speculated that Tradecurve might overtake Aave and emerge as a leading player in the decentralized finance sector. This article provides an in-depth analysis of both projects. Aave is losing bullish momentum Aave, one of the leading decentralized finance (DeFi) protocols, has dominated lending and borrowing. AAVE, its native…

Algorand’s defi protocol Algofi shuts down due to ‘confluence of events’

Algorand’s largest decentralized finance (defi) protocol Algofi will shut down as the platform says it is unable to maintain the highest standards following a “confluence of events.” Algofi sunsetting operations Algofi announced the news in a Medium blog post on July 11, stating that the platform will soon move to “withdrawal-only mode” and will also close down all its social media platforms except for its Discord channel “to ensure seamless, unified communication.” 1) Hey Everyone, We have some unfortunate news to share regarding the Algofi protocol. After a lot of…