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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.
DODO DEX Drained of $3.8M in DeFi Exploit
The decentralized finance platform said it expects $1.88 million of the stolen funds to be returned.

Next Step for Institutional DeFi? Institutional NFTs
Ethereum-friendly custody firm Trustology is now supporting NFTs for lending and collateralizing.

Digital Assets Firm Taurus Integrates Aave Protocol to Improve Banking Access to DeFi
Taurus Group said it has integrated the Aave Protocols’ version 1 and 2.

Coinbase, Naval, Framework Ventures Back $19M Raise for a Capital-Efficient Stablecoin
The soon-to-launch Fei Protocol would mint stablecoins by simply selling them directly to users.

Paid Network Exploit Mints Attacker 60M Tokens: Report
The PAID token is down some 70% as of press time on the news.

Aave Founder Joins Variant Fund as a Venture Partner
Stani Kulechov will remain at the helm of Aave while also helping Variant source deals and work with founders.

DeFi Divorce: Yearn Cancels Tie-Up With Cover Protocol
Yearn added that yVault depositors who have purchased Cover protection will be unaffected.

DeFi and Staking Insurance Startup Unslashed Raises $2M
Experimental crypto zones like DeFi and staking are seeing an influx of insurance products, but not as we know it.

DeFi Project Meerkat Raises Eyebrows With Claimed $31M Hack a Day After Launch
There are signs the hack was in fact an exit scam, according to reports.

Insurance Giant Aon is Testing the DeFi Waters
Aon, one of the world's largest insurance companies is dipping its toe into the decentralized finance (DeFi) space. "The Hash" panel discusses what this potentially means for institutional DeFi.
