Out of the lot, 2.49 million DYDX tokens — worth $5.36 million — will be allocated to the community treasury, which funds contributor grants, community initiatives and liquidity mining, among other programs. Decentralized exchange (DEX) platform dYdX will unlock $14.02 million worth of its native DYDK tokens to be allocated to its community treasury and…
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Magnate Finance first deleted its Telegram channel and X account followed by taking down the website before pulling the plug on its TVL. Magnate Finance, a lending and borrowing platform on Coinbase’s layer-2 protocol, Base, has rug-pulled its users of $6.5 million hours after on-chain sleuths like ZachXBT warned about the possibility of an exit…
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Assistant Treasury Secretary Elizabeth Rosenberg said the Treasury was enhancing its regulatory regime and that DeFi should program in some compliance. The United States Treasury did a risk assessment of decentralized finance (DeFi) and found the sector lacking in several ways, Assistant Treasury Secretary for Terrorist Financing and Financial Crime Elizabeth Rosenberg reminded an audience…
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The previous version of the nonfungible token marketplace will be sunsetted by April 13, 2023. Nonfungible token (NFT) marketplace LooksRare has upgraded to version 2, reducing fees by 75% and implementing several other features, according to an April 6 announcement from the company. ! Rolled out rn:– Fee dropped to 0.5%– Gas 50% cheaper than…
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The top 100 DeFi tokens had a mixed week, with little changes and a majority of the tokens trading in green. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The ongoing downturn in the crypto market hasn’t…
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Join us as we discuss decentralized finance, how it performed in 2022, and what its potential is in 2023. On this week’s episode of Market Talks, Cointelegraph welcomes Grant Shears, founder of Blocmates — an educational and consultancy company that aims to create crypto, decentralized finance (DeFi) and Web3 content that anyone can understand. This…
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Impermanent loss relates to a condition wherein investors end up losing assets they had previously dedicated to providing liquidity to a liquidity pool. Zircon Finance, an automated market maker (AMM) and a decentralized exchange on Moonbeam, announced the launch of a mainnet network to address investors’ challenges related to impermanent loss in decentralized finance (DeFi).…
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Numerous governments have tried to ban Bitcoin mining, but data and insights from those in the mining industry suggest that this is easier said than done. In the summer of 2021, the Chinese government banned Bitcoin (BTC) mining and cited the typical concerns of harmful environmental effects and money laundering. Now, the Chinese government is…
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Several projects have launched on Optimism this year with the goal of giving users instant transactions and lower gas fees. Unsecured lending protocol TrueFi has become the latest project to launch on Optimism, Ethereum’s popular layer-2 scaling solution, in a move that’s expected to boost demand from non-institutional lenders. By launching on Optimism, TrueFi’s lender…
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Polkadot parachains posted double-digit gains after partnership announcements, protocol integrations and a stablecoin development fund caught the attention of the crypto investors. Crypto prices have been exploring new lows for weeks and currently it’s unclear what it will take to reverse the trend. Despite the downtrend, cryptocurrencies within the Polkadot (DOT) ecosystem began to rally…
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