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DeFi
DeFi, short for decentralized finance, represents a shift in the financial sector by leveraging blockchain technology, primarily Ethereum, to eliminate traditional financial intermediaries. It enables various financial applications, from simple transactions to complex contracts, through smart contracts that execute automatically under specific conditions. Key DeFi applications include decentralized exchanges (DEXs), stablecoins, lending platforms, and prediction markets. DeFi offers financial services like loans and interest-earning opportunities without traditional identity verification, relying instead on collateral, usually in cryptocurrency. This innovative sector promises increased accessibility and efficiency but comes with risks, such as market volatility and unregulated projects.
BTC at Work on Ethereum?
With bitcoin prices retreating over the past month, crypto traders have increasingly tokenized BTC into synthetic versions compatible with the Ethereum blockchain, where they can be deposited for extra yield on decentralized finance (DeFi) platforms. “All About Bitcoin” host Christine Lee breaks down today’s Chart of the Day.
'Free Money' Bug Hits DeFi Platform Alchemix
The bug resulted in roughly 2,000 ETH (or $4.8 million at today's prices) being returned to borrowers prematurely.
Decentralized Credit Protocol Goldfinch Raises $11M in Series A Funding
A16z led the round, which will enable the startup to build a network of lenders and borrowers and ramp up hiring.
Kyber Network Announces Polygon Integration and Liquidity Mining Program
The Rainmaker program aims to bring more liquidity to Ethereum and Polygon-based decentralized finance (DeFi) ecosystems.
Crypto Derivatives Platform dYdX Raises $65M in Paradigm-Led Series C
dYdX, a San Francisco-based derivatives trading firm, has raised $65 million in its third funding round from crypto investment firm Paradigm and other market makers. “The Hash” panel takes a deep dive into the dYdX product and what this new development means for the world of decentralized finance (DeFi).
Crypto Derivatives Platform dYdX Raises $65M in Paradigm-Led Series C
The San Francisco-based DEX builder has processed $2.2 billion in trades and is now “hugely profitable.”
Umee Raises $6.3M to Connect Cosmos and Ethereum With Cross-Chain DeFi
The project, led by Tendermint’s former strategy lead, secured backing from Polychain Capital, Coinbase Ventures and others.
Switzerland’s Sygnum Bank Gets Into DeFi
Custody and trading services for DeFi tokens is the first step, to be followed by a suite of yield-generating products.
DeFi Projects Continue Flocking to Layer 2 Solution Polygon
Polygon’s cheaper transaction costs and faster block time have driven increased adoption by a number of major projects.
Human Protocol Expands hCaptcha Tool, Launches Wallet to Make AI Smarter
“Proof-of-HUMANity” could also thwart front-running DeFi bots.
