Tag: finance

The Rise and Challenge of Lido Finance in the World of DeFi

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…

Platypus Finance recovers 90% of assets lost in exploit

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Decentralized finance (DeFi) protocol Platypus Finance said it had recovered 90% of assets that were stolen in a security breach last week. According to the Oct. 17 announcement, the protocol’s net loss was limited to 18,000 AVAX (AVAX) worth $167,400 at the time of publication. As the hacker voluntarily returned the funds, Platypus Finance stated it “will guarantee that no legal action will be pursued.” It also hinted that withdrawal information regarding users’ assets will soon be posted. On Oct. 12, the automated market maker running on the Avalanche blockchain…

Solana wind down ‘deemed a necessity’ after low fees, says Lido Finance

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Decentralized liquid staking protocol Lido Finance has announced a decision to cease operations on the Solana blockchain following a community vote in Lido’s decentralized autonomous organization. The proposal to sunset Lido on Solana was first put forward by Lido’s peer-to-peer team on Sept. 5, citing unsustainable financials and low fees generated by Lido on Solana. Voting commenced on Sept. 29 and finished a week later on Oct. 6. “After extensive DAO forum discussion followed by community vote, the sunsetting of the Lido on Solana protocol was approved by Lido token…

Decentralized finance is changing our everyday lives

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Decentralized finance (defi) is no longer confined to the digital world. As we look around at some of the most important present-day issues, from buying a house to fighting climate change, defi is increasingly playing a crucial role. Some may be skeptical, given how overhyped defi has been in the past. This is understandable. But it only takes a simple look around to see defi making a…

G20 finance heads adopt roadmap for crypto regulation

G20 finance ministers say the document is necessary to achieve macroeconomic and financial stability goals. The G20 Finance Ministers and Central Bank Governors (FMCBG) adopted a crypto roadmap designed to support a coordinated regulatory framework for all group members. As reported by Business Standard, the roadmap called on boosting the World Bank’s capacity to support the “low and middle-income countries to meet the global challenges.” The new regulatory guidelines are based on updates from the International Monetary Fund and Financial Stability Board. According to the roadmap, jurisdictions should implement the…

European regulators assess DeFi risks, Uniswap launches Android wallet: Finance Redefined

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. In this week’s newsletter, European securities regulators have published a report on the DeFi ecosystem that lists the risks it poses to the European Union’s financial system — but also highlights the benefits of DeFi. Uniswap has launched Android wallet beta on Google Play, with the app gaining popularity among desktop and Apple iOS users. DeFi platform Star Arena recovered 90% of…

G20 Finance Ministers Unveil Joint Communique to Regulate Crypto Assets

The initiative follows the introduction of a roadmap proposed in a synthesis paper by the IMF and FSB, aimed at fostering international policies and regulations for crypto assets With the growing participation of investors in the crypto market, the group of G20 Finance Ministers and Central Bank Governors (FMCBG) have agreed to work on a common roadmap in handling the challenges associated with the crypto market. The roadmap was introduced through a collaborative synthesis paper by the International Monetary Fund (IMF) and the Financial Stability Board (FSB). This synthesis paper…

Galaxy Digital Leads $4M Strategic Funding for Parsec Finance to Revolutionize DeFi Transparency

With crucial funding secured, Parsec Finance also launched its cutting-edge institutional-focused product that aims to help provide unparalleled data to easily discover DeFi opportunities. Parsec Finance, an analytics platform focused on providing deep transparency in the nascent DeFi and NFT markets, announced a successful closure of a strategic funding round with about $4 million. According to the announcement, the Parsec Finance strategic funding was led by Galaxy Digital with key participation from Uniswap, Robot Ventures, CMT Digital, Will Price, Rice Maximalist, and Freddie Farmer, among many others. The funds are…

Decentralized finance yet to pose ‘meaningful risk’ to stability — EU regulator

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Decentralized finance (DeFi) is yet to pose a meaningful risk to overall financial stability but does require monitoring, according to the European Union’s financial markets and securities regulator. On Oct. 11, the European Securities and Markets Authority (ESMA) released a report titled Decentralized Finance in the EU: Developments and Risks. Aside from discussing the nascent ecosystem’s benefits and risks, the regulator concluded it is yet to pose a sizeable risk to financial stability. “Crypto-assets markets, including DeFi, do not represent meaningful risks to financial stability at this point, mainly because of…