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.


Markets

Solana Leapfrogs XRP as Fifth-Largest Crypto, Spurred by Meme Coin Mania

SOL is trading at a 20-month high on the back of a bustling DeFi ecosystem and meme coin mania.

SOL/USD (CoinDesk data)

Opinion

DeFi Has a Risk Problem and It’s Time to Solve It

While the total losses from exploits fell to $1 billion from $54 billion the year prior, this is still an unacceptable threat to users, Haven1's Jeff Owens writes for Crypto 2024.

Crypto hacks, scams and exploits netted some $2 billion this year. (fikry anshor/Unsplash, modified by CoinDesk)

Policy

Global Securities Regulator IOSCO Issues DeFi Policy Recommendations

Organizing as DAOs doesn't mean freedom from regulatory responsibilities, the International Organization of Securities Commissions says.

globe held in someone's hand (Greg Rosenke/Unsplash, modified by CoinDesk)

Finance

New Kind of Crypto Insider Trading? SEC Might Take a Look at These Trades, Experts Say

"It seems like there's smoke here, and it may be worth an investigation to see if there's a fire," a finance professor said.

(Jon Simon/Bettmann via Getty Images)

Finance

BONK's Surge Send Prices of Solana Saga Phone Flying to $2K

The sealed and unopened phone boxes contain an airdrop of 30 million bonk tokens, which has seemingly revived dismal Saga sales.

The Saga smartphone. (Danny Nelson/CoinDesk)

Finance

Ledger Exploit Endangers DeFi; Sushi Says 'Do Not Interact With ANY dApps'

The exploit reportedly prompts users to connect their wallets via a pop-up, triggering a token drainer.

Ledger Nano S hard wallet opened to show the screen display

Markets

Total Value of Cardano DeFi Ecosystem Nears $450M Amid Layer 1 Push; ADA Rockets 17%

The total value locked (TVL) of all Cardano-based tokens jumped to over $440 million late earlier this week, crossing the previous peak of $330 million set in April.

(David Mark/Pixabay)

Tech

Ethereum's Buterin Floats Prospect of Taking Some Layer-2 Functions Back on Main Chain

Vitalik Buterin, a member of the Ethereum Foundation's executive board, once pushed "layer-2" networks as a way to provide faster and cheaper transactions. Now he's got ideas for "enshrining" some of those functions on the main chain.

Ethereum co-founder Vitalik Buterin (Bradley Keoun/modified by CoinDesk)

Markets

DeFi Platform Conic Finance's CNC Token Surges 50% as the Protocol Plots Comeback After Hack

Conic Finance was hacked in July draining roughly $3.6 million worth of ether from the protocol.

Conic Finance lets liquidity providers gain exposure to multiple pools on DeFi platform Curve (Conic Finance)

Tech

Decentralized Exchange Uniswap Expands to Bitcoin Sidechain Rootstock

Uniswap version 3 (v3) has been deployed on Rootstock by GFX Labs, the team behind trading terminal Oku

Uniswap booth at ETHDenver 2023 (Danny Nelson/CoinDesk)