Developers are building the future of finance. Aave has emerged as a top DeFi protocol with $1.5B locked in its smart contracts. It has also become the first DeFi project to reach a $1B market cap and receive an Electronic Money Institution license from the United Kingdom Financial Conduct Authority. Aave recently launched its Aavenomics…
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DeFi platform Synthetix (SNX) surpassed $1 billion in total value locked but what’s fueling the protocol’s growth? Synthetix has reached the $1 billion in value locked milestone, following other DeFi protocols like Compound and Aave. Synthetix (SNX) has been one of the many DeFi tokens that has made substantial gains in 2020, having hit its…
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Hybrid offerings to suit different needs. Two exchanges will offer both decentralized and centralized financial options. Both Bitrue and OKEx separately announced plans to provide hybrid services that cater both to the DeFi market and more mainstream centralized finance products. OKEx CEO Jay Hao tweeted on August 30 that the exchange launched its hybrid lending…
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It just keeps going up. Decentralized finance (DeFi) hit another milestone as its locked in value reaches $9.02 billion as DeFi projects gained speed in the past few months. Aave continues to be the largest DeFi project, with $1.71 billion locked, followed by MakerDAO with $1.43 billion, Balancer at $1.36 billion, Curve Finance at $1.26…
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Yearn.finance’s YFI token achieved a new record high at $38,883, as its market capitalization surpassed $1 billion. Yearn.finance’s native token YFI has surged by more than 75% in the last 24-hours, achieving a new all-time high at $38,883 on Binance in its (USDT) pair. The strong upside move also brought the DeFi-token’s market capitalization above $1…
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How do we get DeFi “to cross the chasm?” As decentralized finance begins to gain ground, Chainlink co-founder Sergey Nazarov believes there are two ways for more mainstream adoption. Speaking at the Smart Contract Summit, Nazarov said he sees two ways DeFi “crosses the chasm” and more Web 2.0 companies to adopt these technologies. “The…
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One of the men who coined the term “proof-of-work” to join as chief scientist Chainlink (LINK) has acquired a privacy-preserving oracle protocol DECO from Cornell University and one of its creators, Ari Juels, will be joining Chainlink as chief scientist. Previously, Juels served as chief scientist at RSA and has been teaching at Cornell University…
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Decentralized exchanges such as Uniswap have now become popular thanks to automated market makers, but what does it all mean? What are the risks and limitations of AMMs? Bugs, improper pricing and impermanent loss Despite some positive qualities, AMMs present certain risks and limitations. Hacks and vulnerabilities have already affected exchanges such as Uniswap and…
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This week, the Fed signaled that further monetary expansion is planned. Meanwhile, interest in Bitcoin and DeFi continues to skyrocket. This week was quite eventful for crypto and traditional markets, and investors will note that as central banks introduce new monetary expansion policy, Bitcoin (BTC) and altcoins have begun to forge their own path. Before…
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Fundamental growth is not so impressive when you factor out the bull run. A new metric published by DappRadar wants to paint a more reliable picture of how the decentralized finance ecosystem is growing. Called “adjusted TVL,” the metric attempts to clean total value locked readings from any external influence — primarily price increases. Total…
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