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.


Finance

Stablecoin Issuer Lybra Finance Launches Arbitrum Testnet Amid Quest to Be More DeFi-Friendly

Users can now interact with Lybra’s new companion stablecoin peUSD, which is said to be more compatible with decentralized finance protocols than the protocol’s main stablecoin eUSD.

Lybra Finance launched its version 2 test network on Arbitrum Wednesday morning. (Getty Images)

Policy

New U.S. Senate Bill Wants to Regulate DeFi Like a Bank

DeFi protocols would need to impose strict controls on their users.

Sen. Jack Reed (D-R.I) is sponsoring the bill (Photo by Patrick Semansky-Pool/Getty Images)

Tech

Ethereum ICO Participant Transfers $116M ETH After 8 Years of Dormancy

Ether posted nominal gains in the past 24 hours alongside the broader market.

(Todd Cravens/Unsplash)

Tech

DeFi Lender MarginFi Fuels Growth With Loyalty Points, Spurring Talk of ‘Solana Renaissance’

MarginFi’s new points program has many users convinced it's the setup for a token airdrop.

marginFi banner (Danny Nelson/CoinDesk)

Tech

Polygon Proposes Token Switch From MATIC to POL for More Utility

If approved by the community, POL will work as a multipurpose token that can be used to validate multiple Polygon-based networks.

(Polygon Labs)

Tech

Stader Labs Debuts Ether Staking Product With 6% Yield

Node operators can begin staking with just 4 ETH on Stader compared to the currently required 32 ETH.

(Micheile/Unsplash)

Tech

BNB Chain to Tackle Blockchain Exploit Risks in Major July Hard Fork

The upgrade will push security measures immediately on the occasion of a blockchain exploit to safeguard user assets.

(Unsplash)

Policy

A Second Round of the Lummis-Gillibrand Crypto Bill Elevates CFTC, Defines DeFi

Last year’s prominent U.S. crypto legislation from a bipartisan pair of senators is back for a reboot that imagines a less prominent role for the SEC than Chair Gary Gensler has in mind.

U.S. Senator Cynthia Lummis (R-Wyo.) is one of the lawmakers asking for more information after the SEC's X account was compromised on Tuesday. (Shutterstock/CoinDesk)

Tech

Cross-Chain Protocol Axelar to Develop Web3 Services With Microsoft Azure

Axelar said further plans with Microsoft include connecting private and public blockchains that use OpenAI services to create Web3 products.

(Shutterstock)

Tech

Aave DAO to Vote on Gho Stablecoin Deployment on Ethereum

Gho has been available on the Ethereum blockchain’s Goerli testnet since February, where it has functioned without encountering any major bugs.

Aave means ghost in Finnish. (Unsplash modified by CoinDesk)