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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.
Kyber Network Announces Polygon Integration and Liquidity Mining Program
The Rainmaker program aims to bring more liquidity to Ethereum and Polygon-based decentralized finance (DeFi) ecosystems.
Crypto Derivatives Platform dYdX Raises $65M in Paradigm-Led Series C
dYdX, a San Francisco-based derivatives trading firm, has raised $65 million in its third funding round from crypto investment firm Paradigm and other market makers. “The Hash” panel takes a deep dive into the dYdX product and what this new development means for the world of decentralized finance (DeFi).
Crypto Derivatives Platform dYdX Raises $65M in Paradigm-Led Series C
The San Francisco-based DEX builder has processed $2.2 billion in trades and is now “hugely profitable.”
Umee Raises $6.3M to Connect Cosmos and Ethereum With Cross-Chain DeFi
The project, led by Tendermint’s former strategy lead, secured backing from Polychain Capital, Coinbase Ventures and others.
Switzerland’s Sygnum Bank Gets Into DeFi
Custody and trading services for DeFi tokens is the first step, to be followed by a suite of yield-generating products.
DeFi Projects Continue Flocking to Layer 2 Solution Polygon
Polygon’s cheaper transaction costs and faster block time have driven increased adoption by a number of major projects.
Human Protocol Expands hCaptcha Tool, Launches Wallet to Make AI Smarter
“Proof-of-HUMANity” could also thwart front-running DeFi bots.
Lending Startup Parallel Finance Raises $2M to Bring More DeFi to Polkadot, Kusama
Pantera and Polychain are backing the project.
Colombian Government Implementing New Anti-Money Laundering Laws With Local Crypto Exchanges
Colombia is ready to embrace DeFi as an opportunity for its people. This does not mean the country is going against financial institutions. Colombia’s Presidential Adviser Jehudi Castro Sierra says, “they need to reinvent themselves, or someone will do it for them.”
Market Wrap: Bitcoin Flat at $37K as Investors Tangle With Bulls and Bears
Positive news from El Salvador couldn't completely overcome negative news out of China.
