DEFI
Decentralized Finance, DeFi as a concept is to be able to offer almost all the financial services available with legacy and centralized institutions, typically banks, but on the blockchain. Whatever traditional services financial institutions provide can be expected to be offered through DeFi. In short, Defi is blockchain-based financial services that traditional financial services map into, creating new services or derivatives stemming from blockchain's unique features. Although we have had concepts like distributed computing and decentralized computing for decades, DeFi is in fact a new concept and an expansion of the application scope of blockchain as infrastructure.
Uniswap v3 Protocol to Be Deploy to BNB Chain
80% of Uniswap users opted for BNB Chain's third decentralised exchange system. A "temperature check" determined community support. Five to seven weeks are needed to implement smart contracts.
SushiSwap to Redirect Trading Fees to its treasury
SushiSwap will shortly transfer all trade fees to its treasury. 99.85% of voters "clawbacked" 10,936,284 unclaimed SUSHI ($14.8 million) tokens.
The Metaverse: The Future of Social Life?
In December 2022, CoinWire polled 10,000 crypto investors. 69% of respondents expected the metaverse to change social lifestyle with a new entertainment model, and 65% expected it to affect social activities.
Mars Hub Launches Independent Cosmos Application Chain
An airdrop on the mainnet will unlock 64.4 million MARS tokens for Terra Classic holders who held them throughout the two historical snapshots. Osmosis blockchain will launch the first Mars outpost in early 2023.
The Importance of NFTs in the Web3 industry
NFT token sales increased 67.57% to 101 million last year. DappRadar's Web3 adoption analysis found huge transaction growth in the Solana and ImmutableX ecosystems.
Hackers exploit Raydium protocol, send $2.7 million
The Raydium protocol exploiter transmitted 1,774.5 ETH to Tornado Cash, a sanctioned cryptocurrency mixer. On December 16, 2022, the Solana-based DeFi protocol was attacked. Exchange security staff are fighting hackers.
Platypus Launches Native Stablecoin USP
Platypus Finance is launching USP, a protocol-native stablecoin. USP’s deployment has emerged from Platypus’ goal of improving capital efficiency for its users. USP also resolves long-running collateral issues associated with stablecoins. The native Platypus Finance stablecoin has been designed to reduce the liquidity fragmentation and scattered assets that are endemic to many protocols.
Sber Bank's blockchain technology uses Metamask
Russia's biggest lender integrates its blockchain technology with Ethereum to enter DeFi and Web3. The connection lets users utilize Sber's tokens and smart contracts. Sberbank is developing blockchain goods. It requested a blockchain platform for its "Sbercoin" stablecoin from the Bank of Russia in 2021.
DeFi Platform DFX Finance Says it Has Been Hacked for $7.5M
The stablecoin platform DFX Finance is the latest victim of a $7.5 million hack
Wintermute-Backed Decentralized Exchange Bebop Expands to Polygon
Following its launch on the Ethereum blockchain in June, Bebop, a decentralized exchange incubated by crypto trading firm Wintermute, has now expanded support to Polygon.
Avalanche Foundation Announces $4m Incentive Program for Trading Platform GMX
Avalanche Foundation has announced it will grant a $4 million incentive in AVAX tokens for the growth of the decentralized trading platform GMX.
DeFi Platform Texture Secures $5M in Funds to Develop Yield Management Tools
DeFi protocol Texture Finance has tapped $5m in funding from P2P Capital amongst others.
Goldman Sachs to Launch Data Service to Classify Digital Assets
Goldman Sachs has floated a new crypto categorization tool dubbed Datanomy
JPMorgan Pulls Off First Live Trade on Public Blockchain
Through the trade, JPMorgan was able to issue tokenized $71,000. It was part of the Singapore central bank's pilot programs that are testing the use of DeFi in the banking sector.
MAS Launches First DeFi Pilot Tests with Polygon and Aave
The Monetary Authority of Singapore has completed a pilot test on DeFi using Polygon and Aave