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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.
CoinDesk 20 Update: ATOM, ICP and SOL Are In; AAVE, GRT and UNI Are Out
Web 3 is replacing DeFi among the most traded currencies in crypto.
Crypto Lender Celsius Admits Losses in $120M BadgerDAO Hack
However, the company didn’t specify the amount it lost.
Aave’s Push for Institutional DeFi Gets Second KYC Provider Proposal
Security token platform Securitize is looking to join Fireblocks in offering ID tools for Aave Arc.
Crypto Investment Firm Maven 11 Capital Closes $120M Fund
The company’s second crypto fund will focus on DeFi and Web 3 applications.
Badger DAO Protocol Suffers $120M Exploit
An attacker drained funds from the wallets of dozens of users of the Badger DAO yield vault protocol using malicious contract permissions. The total loss amounted to about 2,100 BTC and 151 ETH, or roughly $120 million. “The Hash” group discusses the latest DeFi mainstay to fall victim to a malicious hack.
Aligning Social and Financial Capital to Create Better Money
Would money be better if it was aligned with our reputations?
Large Traders Dominate DEXs as High Ethereum Fees Keep Retail Investors at Bay
The average trade size on Curve Finance ranges from $500,000 to $1 million, according to Kaiko.
Badger DAO Protocol Suffers $120M Exploit
The hacker or hackers may have targeted the platform’s user interface.
Can Stablecoin Supply Measure Ethereum Adoption?
As innovation on top of Ethereum continues to connect DeFi with the outside world, stablecoin growth appears to be a strong measure of adoption.
ETH Returns Outpacing BTC, S&P 500, DeFi
CoinDesk Director of Professional Content Galen Moore shares insights into how bitcoin has performed since Black Friday when it declined by more than 8% following news of the COVID-19 strain Omicron. Why are the returns for ETH outpacing BTC, S&P 500, and DeFi?