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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.
Impossible Finance Names OpenSwap as First Project for DeFi Launchpad
The OpenSwap platform allows users to access liquidity pools from different blockchains.
White Hats Just Defused a Potential $350M Heist on SushiSwap
“Chad af,” one Twitter user commented on the rescue action.
SuperRare Drops RARE Token to Decentralize NFT Marketplace
The announcement follows a wave of activity in the NFT space.
Poly Network Hacker Prolongs Return of Stolen Funds
The hacker behind the Poly Network cyberattack has yet to complete the total return of the roughly $600 million stolen and is also reconsidering accepting Poly’s $500,000 “Bug Bounty” reward to pay anyone who can hack the DeFi site.
The Poly Hack and Crypto's Trust Issues
In crypto, you shouldn't have to ask who you can trust. But as the Poly Network hack and its resolution have showed, you absolutely do.
DeFi’s 1inch Network Launches on Ethereum Scaling Platform Optimism
The DEX aggregator is making a big bet on Ethereum scaling projects, with other networks under consideration.
Ex-Goldman Sachs Traders Raise $4M for DeFi Risk Management Startup
Ondo Finance is looking to attract institutional investors to the world of DeFi lending.
India Crypto Bill Awaits Approval, Poly Network Hack Saga Continues
India’s finance minister says long-delayed crypto bill awaiting cabinet approval. Microsoft unveils Argus' anti-piracy plans. Poly Network hack saga rumbles on. We’ll have more on those stories and other news shaping the cryptocurrency and blockchain world in this episode of "The Daily Forkast."
Blockchain Security Firm CertiK Raises $24M in Funding Round
The company has now raised more than $70 million.
Poly Network Hack Not Over as Attacker Prolongs Return of Funds
The attacker now says they are considering accepting the $500,000 bounty offered by Poly Network as a reward for returning the funds, and using it to pay anyone else who can hack the DeFi site.
