Terra Protocol’s successful DeFi and stablecoin launch were followed by a 66% rally that brought LUNA’s market cap to $200 million. Throughout 2020 a handful of new stablecoins launched and many analysts have suggested that stablecoin growth is the backbone of the crypto sector and partially responsible for the current Bitcoin rally. For many traders,…
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Four hacks in a week are too much, even for DeFi. If people actually used insurance against hacks, this week would definitely have bankrupted a great many insurers. A total of four flash loan-enabled exploits were registered in the span of one week (one of them actually happened the week before, but nobody noticed until…
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A relatively benign attack highlighted the potential threat of flash loans. The MakerDAO (MKR) community is urgently implementing measures to prevent voting manipulation through flash loans. This was precipitated by what is likely the first instance of the feature being used to influence a DeFi governance vote on Oct. 26. According to a post published…
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The pullback in the value of Yearn.finance and Aave signals that the DeFi market may be oversold but increasing revenues of the top projects suggests otherwise. Over the last month the crypto market has seen a significant amount of volatility as a 6-month altcoin bull market abruptly came to an end with the most recent…
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The community had originally voted in favor of compensation, but the final tally showed a different outcome. After multiple rounds of voting and heated discussion, the final vote to compensate losses for Maker (MKR) users that were liquidated “unfairly” during the March crash failed. About 52,500 MKR voted against any compensation, which accounted for 65%…
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DeFi has been the name of the game since the start of the summer, but how much is the sector really growing? The hype surrounding decentralized finance is sometimes credited with triggering a wider market rally in July, as new protocols began releasing tokens that were immediately posting gains of many times their initial value.…
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The total supply for DAI tripled since June as the community keeps raising the supply limits to bring the peg down to $1. The MakerDAO community approved and executed a vote on Thursday to almost double the total debt ceiling, which indicates how much Dai (DAI) can be minted by its users. An announcement by…
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MakerDAO posts records in value locked as yield farmers create new Dai and Ether rallies. MakerDAO (MKR), the foundational protocol of decentralized finance on Ethereum, hit a new all-time high in the total value locked in its vaults. According to data from Defipulse, the value of the collateral locked in MakerDAO vaults is now slightly…
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Surprise Binance listings have led to a sudden 25% spike in the price of Compound’s Governance Token. The price of the Compound Governance Token (COMP) has jumped by one-quarter on news of a surprise listing on leading cryptocurrency exchange Binance. COMP tokens began trading approximately one week ago, quickly making triple-figure gains and attracting millions…
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Crypto analysts AlfaBlock claim that the MakerDAO protocol will need to host several trillion Dai by 2040 to maintain its current market capitalization. Crypto analysts AlfaBlok has published a report that claims the number of circulating Dai will need to increase by more than 70% each year in order for MakerDAO (MKR) to maintain its…
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