Chainlink co-founder Sergey Nazarov explains why a decentralized oracle network is needed to ensure trust in the DeFi ecosystem. Chainlink co-founder Sergey Nazarov believes that increasing the decentralization and scalability of oracle technologies are key to ensure trust in the DeFi ecosystem. Oracles play a key role in the correct functioning of DeFI protocols by…
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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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With insane interest rates and yield farmers endlessly jumping from one protocol to another, fears are growing that DeFi isn’t sustainable — and change is needed. In the space of 12 months, DeFi has become a $15 billion industry — spawning governance tokens that are now worth even more than Bitcoin. But the rapid explosion…
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Ethereum proponents and DeFi enthusiasts alike have panned plans by Compound Finance to launch its own blockchain in 2021. DeFi lending protocol Compound published a white paper on Thursday introducing Compound Chain, a new blockchain aimed at providing cross-chain value transfer capability. Reactions to the news have been overwhelmingly negative with many respondents on social…
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The latest DeFi incursion involves flash loans … again. DeFi lending protocol Warp Finance has reportedly suffered a flash loan attack resulting in the loss of as much as $8 million in digital assets. Reports are coming in that an attacker has made off with between $1 million, to as much as $8 million according…
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The global network of open APIs claims it can reduce development time of decentralized applications from months to days. The Graph Network launched its mainnet on Dec. 17, allowing developers to easily search, index, use and publish data from public blockchains. This is made possible through a global and open network of Application Programming Interfaces,…
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Newly launched DeFi derivatives platform Perpetual Protocol crosses open interest milestone in barely 24 hours. Perpetual Protocol, a new DeFi derivatives exchange, revealed that the platform had already crossed its $500,000 open interest (OI) cap for decentralized perpetual contracts. The announcement is coming less than 24 hours after the mainnet launch of the service on Wednesday. Following…
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Compound governance refused to compensate COMP farmers right now, but the proposal may come back. On Monday, the majority of the Compound Finance governance community voted against a proposed compensation plan for users affected by the Dai liquidations that occurred on Nov. 26. Figures from the Compound governance dashboard show 681,290 votes against and only…
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The price of BNT, the native token of the Bancor protocol, spiked by 86% in two days. The price of BNT, the native token of Bancor, surged 86% in merely two days from $1.02 to $1.919. The rally was fueled by a combination of Coinbase listing BNT and the growing volume of Bancor’s DEX. The…
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Users can now mint tBTC, a decentralized version of Bitcoin on the Ethereum blockchain, right on the CoinList exchange. tBTC acts as Bitcoin (BTC) covered in an Ethereum wrapper, making it compatible on Ethereum’s blockchain for various purposes, such as decentralized finance, or DeFi. Users of tBTC can now mint the asset on crypto exchange CoinList.…
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