DeFi

What is Dogechain? Dogecoin Meets NFTs, Games & DeFi

Dogecoin blew up last year with huge publicity helped in no small part by Elon Musk’s endorsement on Twitter. The meme cryptocurrency really captured public attention going on to hit new all-time highs at its peak.Released to the public in 2014, Dogecoin has become one of the most popular cryptocurrencies along with Bitcoin and Ethereum.Now […]

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$370k USDC Flash Loan Attack Landed On Avalanche

Data from blockchain cybersecurity firm CertiK indicates that $370,000 in flash loan attacks exploited the Avalanche blockchain earlier this week. Decentralized finance (DeFi) has been a lucrative target for flash loan attacks for years.From a series of attacks on Binance Smart Chain dapps in 2021 to the previous loss of $182 million on the Beanstalk […]

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Fuse: Decentralized Payments Platform Powered by The Fuse Network Blockchain

Launched in 2019, Fuse is a decentralized payment-focused platform whose goal is to enable mass adoption of crypto payments and decentralized finance (DeFi).What Is The Fuse Platform?Contents1 What Is The Fuse Platform?2 Making DeFi Work3 Tokenomics4 Fuse Network5 What Makes Fuse Special?6 Closing Thoughts on FuseThe Fuse platform has three main components, comprising the Fuse […]

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Klex Goes Live on Klaytn: An Automated Portfolio & Trading Platform

Klex, a new DeFi app operating in the Klaytn ecosystem, just went live. It is a liquidity and trading app that is similar to Balancer, but with some special features. DeFi holds incredible promise for the global financial system, and Klex is the newest part of the DeFi revolution.With the launch of the mainnet, trading […]

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Phree: Globally Compliant DeFi Ecosystem as a Service

Phree is a decentralized finance (DeFi) trading platform that offers a dedicated and compliant DeFi ecosystem as a service for financial institutions and regulatory compliant DeFi globally.The platform is working to bridge the gap between centralized and decentralized finance with permissionless and transparent solutions that accelerate the financial freedom of consumers globally.What Is Phree?Contents1 What […]

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Major DeFi Protocols Block Accounts Linked to Tornado Cash

Following the OFAC ban on Tornado Cash, major DeFi protocols including Aave, Uniswap, Balancer, Ren, and Oasis have blocked all the addresses associated with Tornado Cash, regardless of type.That means wallets that receive funds from Tornado Cash are also blocked, whether you agree to get the funds or not.Many prominent users fell into a whimsical […]

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Radix: A Full-Stack Layer 1 Protocol for Building & Scaling DeFi Applications

Radix is a decentralized finance network that is working to remove the barriers limiting the expansion of Defi by building a layer-1 protocol that can directly address the needs of Defi on a global scale.Decentralized finance applications are currently built on L1 protocols that are not fit for the purpose leading to congestion, hacks, and […]

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MakerDAO Members Vote On $100M DAI Vault for Bank

ERROR The MakerDAO community is voting on whether to provide a DAI vault to Huntingdon Valley Bank, a 151-year-old lender in Pennsylvania with $500M in assets. A governance proposal for the vault went live on July 4 and will close on July 7. If passed, the vault will enable the bank to draw up to […]

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SushiSwap Votes to Let Traders Offset Carbon Emissions

ERROR The decentralized exchange SushiSwap is partnering with blockchain-based carbon credit protocol, KlimaDAO, to allow traders to offset their carbon emissions on the Polygon network.  A SushiSwap governance proposal outlining the partnership closed on July 4 with more than 99% of voters pledging support. The proposal paves the way for Sushi users to offset their […]

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Ethereum Difficulty Bomb Delayed to Mid-September

ERROR Ethereum developers have delayed the network’s so-called “difficulty bomb” by about 100 days, placing a rough estimate in September for its long-awaited transition to proof-of-stake.  Ethereum currently uses an energy-intensive proof-of-work (PoW) mechanism to validate transactions. The difficulty bomb is an update built into the protocol that will significantly increase the complexity of PoW […]

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Solana Labs Has About 10 People Working on Its Saga Mobile Phone Solana said last week it plans to unveil a mobile phone

ERROR Solana Labs is dedicating a large part of its team to building its mobile effort, according to an exclusive interview with the company’s head of communications. Solana Labs has “about” 10 people working on its Solana Mobile Stack (SMS) initiative, according to Austin Federa. The company, which develops the Solana blockchain, had 71 full-time […]

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Ethereum Developers Were All About NFTs at ETHNewYork The top five finalists for ETHNewYork were all NFT-focused projects.

ERROR Ethereum developers are all about NFTs now, at least if the latest ETHNewYork is a good indication. Ethereum developer platform ETHGlobal hosted its first Ethereum hackathon in New York City since May 2019, this past weekend. The focus leaned heavily on non-fungible tokens, as opposed to decentralized finance in the previous event. Some of […]

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Coinbase Adds Support for Polygon and Solana Simplifying Access to Web3 The move will simplify sending assets across networks

ERROR Coinbase, the largest crypto exchange in the U.S., has enabled transfers on Ethereum competitor Solana and on scaling solution Polygon.  The move will make it easier for users to access Polygon and Solana, and will simplify sending assets across networks, a process that’s time-consuming and expensive.  “Sending crypto on Ethereum has become increasingly expensive […]

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Solana to Develop Smartphone to Speed Web3 Adoption Audacious Move to Build Handset Would Give Solana a Mobile Payment App

ERROR In an audacious move to jump start web3 adoption, Solana announced on June 23 it is developing a smartphone.  Yes, that’s right, Solana, one of a handful of Layer 1 smart contract platforms, is making a telephone. Called Saga, the smartphone is part of Solana’s new mobile-first effort which the company is calling Solana […]

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Harmony Hit by $100M Hack in Latest Exploit of Cross-Chain Bridges

ERROR Cross-chain bridges are continuing to prove themselves as DeFi’s weakest link. On June 23, Harmony, a Layer 1 blockchain, said it identified an exploit worth roughly $100M targeting its Horizon bridge. The Harmony team has begun working with “national authorities and forensic specialists” to identify the hacker and attempt to retrieve the stolen funds. […]

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Tether To Issue Sterling-Denominated Stablecoin

ERROR Tether, the issuer of USDT, the largest stablecoin by market capitalization, plans to launch a new stablecoin on Ethereum pegged to the British Pound next month.  It’s a market ripe for the taking – according to CoinGecko, one of the only Pound-pegged stablecoins on the market, the Jarvis Synthetic British Pound, had a 24-hour […]

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dYdX To Deploy Own Blockchain On Cosmos

ERROR Pivoting to build an independent blockchain isn’t often done by established DeFi projects. But that’s exactly what’s in the works as derivatives-focused decentralized exchange dYdX has released plans to develop its own blockchain. dYdX chain will be built using the Cosmos SDK and Tendermint Proof-of-Stake consensus protocol. These technologies are part of the Cosmos […]

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Uniswap Buys Marketplace Genie to Integrate NFT Trading Into its DEX The acquisition amount was not disclosed.

ERROR Uniswap Labs is planning to integrate NFTs into the largest decentralized exchange via the acquisition of Genie, an NFT marketplace aggregator, according to a post on the company’s website.  Genie, founded in 2021, allows users to buy NFTs from across different marketplaces in a single purchase. This acquisition comes less than two months after […]

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Uniswap To Integrate Sudoswap To Access Deeper NFT Liquidity

ERROR Uniswap is diving deep down the NFT rabbit hole.  The automated market maker is integrating decentralized NFT marketplace Sudoswap to allow for efficient NFT swaps when it launches its NFT platform. The news was shared by Scott Gray, head of NFT product at Uniswap Labs. The integration will allow users to purchase NFTs using […]

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‘All Operations Are Normal’ Says Bankman-Fried as FTX Provides $250M Credit to BlockFi Credit to Be Used 'As Needed'

ERROR BlockFi, a crypto lending platform, has secured a revolving line of credit of $250M with FTX, the second-largest crypto exchange by trading volume, leaders of both companies said Tuesday.  BlockFi CEO Zac Prince said the credit would be used “as needed” and would be “subordinate to all client balances across all account types.” The […]

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Feds Turn Up the Heat on Crypto with Insider Trading Case Against ex-Coinbase Employee SEC Defines 'Digital Assets' as Securities in Complaint

ERROR The U.S. Justice Department’s crackdown on crypto just ratcheted up a notch. On Thursday, Federal prosecutors accused a former employee of Coinbase, the leading crypto exchange, and two others in the first-ever case of insider trading involving cryptocurrencies.  In a 22-page indictment, prosecutors in New York allege former Coinbase product manager Ishan Wahi, his […]

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Curve Finance Has a Stablecoin in the Works

ERROR A stablecoin from leading automated market maker (AMM) Curve Finance may be around the corner. The news comes right after DeFi lender Aave announced plans for its GHO stablecoin earlier this month.  Information is limited so far, but a post from Twitter user mrblocktw, who lists Curve Finance in his bio and also holds […]

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Proposal To Turn On Uniswap ‘Fee Switch’ Gains Early Support

ERROR When will Uniswap, DeFi’s leading decentralized exchange in terms of trading volume, start to make money for itself? It’s a question that people have asked since Uniswap V2, the second iteration of the protocol, was launched in May 2020. V2 included code to capture .05% of trading volume, but that function, also known as […]

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ZK Roundup: Ethereum Scaling Projects Are Forging Ahead

ERROR On Wednesday, a trio of unaffiliated companies said they have made progress toward building zero-knowledge protocols capable of scaling Ethereum. Ethereum sidechain Polygon released the source code for its Polygon zkEVM, short for zero-knowledge Ethereum virtual machine. Matter Labs, the company behind zkSync, unveiled a roadmap for zkSync 2.0 and plans to launch “the […]

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Buterin Likes the Idea of ‘Network States’ Built Around the Blockchain

ERROR Crypto investor Balaji Srinivasan’s book The Network State was released on July 10 and centers around creating startup societies that are founded in the cloud, use an integrated cryptocurrency, and crowdfunded physical territories. In a July 12 blog post, Ethereum founder Vitalik Buterin shared his thoughts on the book.  Although Vitalik disagrees with Balaji […]

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Synthetix Now Among Top-Earning Crypto Protocols After Atomic Swaps Take Off

ERROR Synthetix is taking off after a proposal to increase trade speed was approved. Synthetix’s token SNX, fees generated by the protocol and volume are soaring after Synthetix Improvement Proporsal 120 passed, removing a previous buffer between trades of synthetic assets, called Synths and increasing trading speed. Daily fees have jumped by a multiple of […]

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Bancor Suspends Impermanent Loss Protection in ‘Hostile Market’  One of the First DeFi Platforms Takes Fire from DeFi Community

ERROR Bancor, one of the first DeFi trading platforms, suspended its impermanent loss protection program over the weekend due to “hostile market conditions,” prompting cries that it was decentralized in name only.  Liquidity providers on automated market makers such as Uniswap can suffer so-called impermanent loss (IL) if the value of their deposited tokens rises […]

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Lido To Expand stETH To Layer 2 Networks

ERROR Lido, the largest liquid staking protocol, plans to bring its stETH token to Ethereum’s layer 2 (L2) networks. “For Ethereum stakers, this means staking with lower fees and access to a new suite of DeFi applications to amplify yields,” Lido said Monday in a blog post detailing the expansion.  No timeline was given for […]

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Ethereum Still On Track For Mid-September Merge

ERROR Ethereum developers have doubled down on a mid-September target for the Merge during a conference call held on Thursday.  The Merge is Ethereum’s highly anticipated transition from a proof-of-work to a proof-of-stake consensus mechanism. It’s expected to slash the blockchain’s energy use and, therefore, carbon emissions, by as much as 99%, addressing one of […]

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StarkNet Testers Fume After Token Announcement

ERROR StarkWare, the company behind Ethereum layer-2 scaling solution StarkNet, plans to launch a native token designed to decentralize control and maintenance of the network. The token is also intended to reward developers and investors, and its unveiling comes a day after Su Zhu, the enigmatic founder of failed crypto hedge fund Three Arrows Capital, […]

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