DeFi

DeFi, short for decentralized finance, represents a shift in the financial sector by leveraging blockchain technology, primarily Ethereum, to eliminate traditional financial intermediaries. It enables various financial applications, from simple transactions to complex contracts, through smart contracts that execute automatically under specific conditions. Key DeFi applications include decentralized exchanges (DEXs), stablecoins, lending platforms, and prediction markets. DeFi offers financial services like loans and interest-earning opportunities without traditional identity verification, relying instead on collateral, usually in cryptocurrency. This innovative sector promises increased accessibility and efficiency but comes with risks, such as market volatility and unregulated projects.


Finance

DeFi Protocol Curve.Finance Gets Hacked and $570K Is Stolen

The source of the hack has been “found and reverted,” according to the protocol. 

(vlastas/iStock/Getty Images Plus)

Finance

Data Provider DeFiLlama De-emphasizes Double-Counted Crypto Deposits After Saber Revelation

The website “toggled off” double-counting after CoinDesk uncovered one Solana developer’s effort to fool the all-important metric for popularity in DeFi.

Saber's chart on DeFiLlama (DeFiLlama)

Markets

DeFi Protocol Voltz Could Bring 150% Interest Rate on Ether Deposits

As the Ethereum blockchain's Merge approaches, traders and venues are seeing the event as an opportunity to pocket fat yields – possibly signaling a renewed appetite for risk in crypto just months after its big market crash.

With memories still fresh from this year's crypto market crash, the Voltz protocol is already looking for ways to let traders use leverage to take more risk. (Pixabay, modified by CoinDesk)

Opinyon

The Fake Team That Made Solana DeFi Look Huge

We already knew that crypto developers cannot always be trusted. But can we even trust the data?

A new CoinDesk report reveals that a major Solana DeFi project was created not by 11 different developers, but two brothers who conducted an elaborate masquerade. (iStock/Getty Images)

Mga video

Defining DeFi: How to Succeed in DeFi and Web 3 from Renowned Investors

Linda Lu (Oasis Network), Nikhil Sharma (Oasis), Haseeb Qureshi (Dragonfly Capital) and Kanav Kariya (Jump Crypto) join Oasis Labs Founder Dawn Song at Consensus 2022 to share their insights and outlook on how to succeed in DeFi. Plus, a conversation on why Oasis is revolutionary in this space. Moderator: Rachel Wolfson, Senior Reporter, Cointelegraph

Recent Videos

Layer 2

Master of Anons: How a Crypto Developer Faked a DeFi Ecosystem

The Macalinao brothers used a web of bogus identities to create the illusion of a dev community, juicing value on the Saber protocol and Solana blockchain. Now they're moving to Aptos.

Ian Macalinao, one of the Saber brothers (Danny Nelson/CoinDesk)

Mga video

DeFi vs CeFi: The Search for Yield

Sidney Majalya, Chief Risk Officer at Binance.US, joins Radkl CEO Ryan Sheftel and Two Sigma Ventures' Partner Frances Schwiep at Consensus 2022 to discuss evaluating risks in the crypto market with reference to the debate between DeFi and CeFi. Moderator: Daniel Nelson, Managing Editor - News, CoinDesk

Recent Videos

Learn

What Is SushiSwap? How to Get Started on the Crypto Exchange

The fully decentralized exchange allows users to swap Ethereum-based tokens for one another.

(Unsplash)