DeFi’s meme coins are causing a stir within the crypto community, as some call foul, others see the upside. In recent weeks, talk of hotdogs, sushi and yams has infiltrated the crypto industry. Such references, however, are not as they seem and actually relate to assets in the decentralized finance sector of crypto. Over the…
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Like the ICO boom of 2017, DeFi plays to our desire to get rich fast without any responsibilities. Decentralized finance, in a nutshell, promises transparency and offers beneficial terms for borrowers. DeFi platforms are supposed to build an alternative financial system for offering/receiving loans, exchanging currencies, making payments, etc. There are no banks, brokers or…
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With regulators unlikely to change old-fashioned rules in favor of the emerging market, DeFi might be burdened under fraud and new portions of restrictions. Over the years, we have seen a lot of trends such as initial coin offerings, initial exchange offerings, security token offerings, decentralized autonomous organizations and many more, but none of these…
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Yearn.finance is back above $30,000 but YFI price technicals must first confirm some new levels of support before moving higher to new highs. One of the hottest cryptocurrencies in recent weeks has been Yearn.finance (YFI). The project fundamentals are food for thought, but its price is also a relatively new approach in the cryptocurrency markets,…
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The DeFi cryptocurrency space is attempting to recover after an eventful week that saw Bitcoin price recover above $10,000. DeFi projects have been dominating headlines as of late, and the unexpected departure by a high-profile founder had ripple effects throughout crypto markets. Here are the top stories from the past week: Bitcoin price hits $9.8K…
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Who would have thought an alleged exit scam could have a happy ending? In a surprising turn of events, SushiSwap’s former head, anonymously known as Chef Nomi on Twitter, has apologized for their mistakes and returned $14M to the project’s development fund. Nomi said in a Sept. 11 Tweet thread: To everyone. I f***** up.…
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Oracles have played a major role in the huge growth of the DeFi ecosystem observed in 2020. What are the most popular DeFi protocols running oracles? Open lending/borrowing protocols such as MakerDAO, Compound, Uniswap and Aave use oracles to fetch external data while running on the Ethereum blockchain. MakerDAO is among the most popular DeFi…
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Centralized Decentralized Finance may not make a lot of sense, but it is coming. Crypto.com, a conglomerate dealing primarily with payments and the exchange of crypto assets, announced its foray into decentralized finance with a platform named DeFi Swap. According to its whitepaper, published on Friday, DeFi Swap is a fork of the popular Uniswap…
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DeFi could be a huge investment opportunity, a bubble ready to burst, or both. Former Messari Head of Product and well known crypto trader Qiao Wang believes the nascent DeFi sector has enormous growth potential. DeFi has been on a tear this year, with the total value locked growing from under $1 billion to just…
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Despite the recent mini price crash, DeFi users have injected more than 20,000 Bitcoin into DeFi projects in the last week, suggesting the DeFi bull run isn’t over. The amount of BTC locked in decentralized finance projects increased by more than 30% in the past week, despite falls in the price of Bitcoin (BTC) and…
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