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.
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
Cosmos Hub Postpones Vote Date On New Security Model Proposal
After two respective postponements, the Cosmos' vote date to approve proposed changes to the network’s Hub has now been fixed to October 31.
Fantom Collaborates With Dedaub To Automatically Detect Smart Contract Bugs With Watchdog
Scalable layer 1 platform Fantom announced its collaboration with Dedaub to leverage its automated system called Watchdog to look for smart contract bugs in the Fantom ecosystem.
Compound Protocol Halts Supply of Four Tokens Due To Low Liquidity
Decentralized lending protocol Compound has decided to pause the supply of four tokens used as lending assets for collateral on the platform, including ncZRX, cBAT, cMKR, and cYFI.
Listed DeFi Company AQRU unveils Crypto-collateralized Lending Service
UK-Based DeFi firm, ARQU has launched BlockLender to give clients access to crypto credits
Binance "Investing Heavily in DeFi", Tweets CEO CZ
Earlier, CZ announced that the company will be spending more than $1 billion on potential investments and acquisitions this year. According to Binance, DeFi and NFT projects are among the good options.