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Terra Crosses $12B In TVL, Avalanche At $12B
27.12.2021
Investors have a portfolio to maintain with a huge interest in looking to expand it with other products. The increasing network cost of Ethereum has made it difficult for such investors to explore the much-talked-about sectors, namely, DeFi and NFT. Network congestion has currently been termed as...
SEBA Floats Proposal to Become Whitelister for Arc
23.12.2021
In an important development, SEBA has come out with the governance proposal requesting to become a whitelister for the institutional lending platform of Aave, the Arc. If the request is approved by the Arc, SEBA will get the role of onboarding the users of the lending platform by fully monitoring...
Polkadot Concludes Five Parachain Auctions
22.12.2021
Polkadot recently concluded its first parachain auctions round, and the winners have started producing blocks. The development has initiated Polkadot’s sharded ecosystem, offering specialized computation and smart contracts functionality. In addition, the development will help developers to start...
Fei-Rari Union Approved, Marking One the Largest DAO Mergers in DeFi History
22.12.2021
A vote to merge Rari Capital, an open interest rate protocol that allows the creation of permissionless lending pools, and Fei Protocol, issuer on the native algorithmic stablecoin FEI, was approved on Tuesday at Ethereum (ETH) block height 13850929.
Looking at the total value locked (TVL)...
Santa Hackathon? Visor Finance Marks 7th Hack in December
22.12.2021
Liquidity management decentralized finance (DeFi) protocol Visor Finance is the latest victim of a DeFi hack, with the protocol estimated to have lost USD 8.2m worth of digital assets - and becoming the 7th crypto establishment to get exploited in the last month of the year....
Read More: Santa...
Fantom DeFi Project Loses $30M to a Security Breach
21.12.2021
Fantom-based Grim Finance recently faced a security breach, losing 30 million dollars to a hacker. The unidentified hacker exploited a reentrancy bug in Grim Finance’s smart contracts. As soon as the news of the attack came out, the network’s TVL dipped to 4.2 million dollars from 98.9...
6th Hack This Month Confirmed: Bent Finance Asks Investors to Withdraw all Funds
21.12.2021
High yield staking platform Bent Finance has confirmed that it has been attacked, advising investors to withdraw funds - becoming the sixth hacked decentralized finance (DeFi) platform we reported on this month alone.
So far, reported-on December hacks include Badger DAO, Bitmart, AscendEX...
DeFi Is a Ticking Bomb, Thanks to Innovative Collateralization
20.12.2021
2021 is coming to an end, and DeFi’s top lineup is mostly made up of synthetic asset platforms (SAPs). Any platform allowing users to synthetics or derivative values which are tied to existent assets through complete real-time is known as an SAP. Synthetics usually represent different types...
Hacked Grim Finance's Auditors Blame New Analyst For Missing the Issue
20.12.2021
Auditors of the decentralized finance (DeFi) platform Grim Finance, which was exploited for USD 30m worth of digital assets on Sunday, claim that a new analyst had conducted the protocol's audit while their Chief Technology Officer (CTO) was on vacation....
Read More: Hacked Grim Finance's...
The DeFi Kingdom Announce New NFTs Named Heroes
17.12.2021
The DeFi Kingdom, the emerging GameFi venture, recently announced new NFTs called Heroes. The NFTs are playable characters that can earn tokens on quests. Unlike standard NFTs, Heroes gain experience with quests and can even equip gear for better performance. DFK (DeFi Kingdom) has dominated...
DeFi Companies Reach Out to Finance Ministry for Crypto Regulations
16.12.2021
The recently-proposed crypto regulations are harboring attention as DeFi companies reach out to the finance ministry. The firms seek more clarity on the regulations, propositions, and effects. Most of these firms revolve around offering interest on crypto-insurance, loans, and deposits. The primary...
Force Bridge Will Now Be Utilized by the Cardano Lending Platform
15.12.2021
Background MELD is Cardano DeFi banking protocol. Its operations aim to empower the users through tools and services, enabling them to enjoy the independence of managing their finances. The management of finance covers earning interest through investments, creating collateralized debt positions...
Even This Hydraulics Firm Takes Crypto, DeFi, NFT & Metaverse Plunge
14.12.2021
The Korean Stock Exchange-listed South Korean hydraulics firm Sewon E&C is in the final stages of sealing a deal with a major decentralized finance (DeFi) player over proposed crypto, non-fungible token (NFT), and metaverse collaboration....
Read More: Even This Hydraulics Firm Takes Crypto...
ICON’s P-Reps Approves Funding for the KarmaDAO
14.12.2021
ICON’s P-Reps will now accept financing for KarmaDAO, a DeFi 2.0 project backed by protokol7. The goal of KarmaDAO is to “assist protocols in establishing protocol-owned liquidity along with offering advantages to network members — users. OlympusDAO pioneered Protocol Owned Liquidity,...
TrustFi and PlayPad Announce Partnership for Cross-Marketing
13.12.2021
TrustFi works hard to link with firms sharing a similar vision of assisting projects in achieving long-term success through on-chain asset liquidity management. As a result, TrustFi is ecstatic to announce the collaboration with PlayPad, which is supported by a multi-chain, fully decentralized...
Optimism Enters Partnership with Across
10.12.2021
Optimism recently treated its users by partnering with Across, the bridging venture. The latest integration allows Optimism Ethereum users to bridge finances back to Layer 1 Ethereum. Currently, users can access UMA, USDC, and ETH via the bridge, with the ventures planning to add more assets...
Coinbase Offers DeFi Yield Product To Users In 70 Countries
10.12.2021
In a bid to make decentralized finance (DeFi) more accessible to its customers, major US crypto exchange Coinbase says it is enabling users in 70 countries to buy a DeFi yield product using their DAI crypto holdings. ...
Read More: Coinbase Offers DeFi Yield Product To Users In 70 Countries
GoGo Coin Is Set to Launch on Polygon, Introducing DeFi to Users
9.12.2021
GoGo Coin is ecstatic to announce that it will be available on Polygon. GOGOcoin, an NFT/DeFi hybrid platform with open source DeFi protocol, is designed for asset management and savings to expedite DeFi’s broad adoption. As a full-stack scaling solution with a fast-developing market for NFTs...
Asteria and Netswap Announce a New Strategic Partnership
8.12.2021
Netswap established a strategic partnership with Asteria on Wednesday, December 8th. Asteria is a decentralized option technology that uses a peer-to-peer trading framework. Asteria employs expert pricing models as well as a complete risk management strategy with a Delta Neutral Hedging system....
Decentralized dYdX Went Down Due to Reliance on Centralized Cloud Services
8.12.2021
Decentralized exchange (DEX) dYdX was down for 9 hours Monday afternoon to Tuesday morning, due to a major outage that hit Amazon's cloud-service network Amazon Web Services (AWS), once again stirring up debates about decentralization.
Some commenters have questioned whether a decentralized...