Decentralized Finance


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Uniswap DAO Members Vote for New Governance Process

Uniswap community members chose Wednesday to reform the voting process on the popular decentralized finance (DeFi) protocol in an effort to make it easier to change the way the system is governed. "The Hash" hosts discuss what this means for the Uniswap ecosystem in the latest move in the latest story illuminating the power of DAOs.

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Finance

Protocol Developer Archblock Aims to Bring US Community Banks to DeFi Through Partnership

Archblock and Adapt3r's joint effort highlights an accelerating trend in DeFi to cozy up with old-school banking.

The partnership aims to close ties between traditional banking and decentralized finance. (Getty Images)

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Osmosis Labs' Sunny Aggarwal: Why Appchains Are the Future of DeFi

Osmosis Labs Co-Founder Sunny Aggarwal joins I.D.E.A.S. 2022 to discuss why application-specific blockchains are the future of decentralized finance.

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Markets

Maple Finance's $54M of Sour Debt Shows Risks of Crypto Lending Without Collateral

Maple Finance, the largest unsecured crypto lending platform, is grappling with a debt crisis while gearing up for a major system upgrade. The project's MPL token has plunged, and depositors are likely to stomach big losses. Here's how it happened, and what comes next.

There's some $54 million of sour debt on Maple Finance's lending platform because some of its largest borrowers were devastated in the FTX-blowup. (Michael Diane/Unsplash)

Finance

DeFi Protocol Perennial Launches, Announces $12M in Funding

Polychain Capital and Variant co-led a seed round for the decentralized derivatives protocol.

DeFi protocol Perennial makes public a $12 million fundraise. (Unsplash)

Markets

Crypto Audit Platform Sherlock Expects $4M Loss From Troubled Loans on Maple Finance

Sherlock deposited $5 million USDC of its staking pool into the beleaguered credit pool on Maple, which suffered a $31 million hit from Orthogonal Trading’s FTX-induced insolvency.

Mysterious transactions and reconciliation head-scratchers happen in traditional finance, too, but crypto could be uniquely prone to a situation of this sort. (Wikimedia Commons)

Markets

Crypto Firm Orthogonal, Victim of FTX Contagion, Now Faces Internal Dissent

Shortly after Orthogonal got served with default notices on $36 million of crypto loans from Maple Finance, the firm’s credit team published a statement saying it was “speechless” and unaware of the extent of the trading team’s exposures.

Rancor and dissent have broken out between units of Orthogonal Trading after $36 million of loan defaults on the crypto lending platform Maple Finance. (Charles Altamont Doyle/Creative Commons, modified by CoinDesk)

Markets

DeFi Risk-Sharing Protocol Nexus Expects Loss on Maple Credit Pool Investment as FTX Contagion Widens

Nexus Mutual, which offers an insurance alternative for decentralized finance traders, deposited some $19 million in ETH to Maple’s wrapped ether credit pool, which was rocked by Orthogonal Trading’s recent default.

Posiciones cortas de ether registraron liquidaciones de $200 millones. (deepblue4you/Getty images)

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MakerDAO Community Rejects CoinShares Proposal to Invest up to $500M in Bonds

The MakerDAO community rejected a proposal to use up to $500 million in stablecoin USDC to invest in bonds with crypto investment firm CoinShares. MakerDAO founder Rune Christensen discusses the reason behind the rejection and his outlook for decentralized finance. Plus, details on the community’s voting on increasing DAI stablecoin rewards.

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Markets

DeFi Lender Compound Tightens Borrowing Limits After Aave Exploit Attempt

A passed proposal introduces borrowing caps for five cryptocurrencies and sets stricter loan limits for another five.

Compound Finance will enforce new limits for borrowing to lower risk on the platform. (Unsplash)