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

Iron Finance's Titan Token Falls to Near Zero in DeFi Panic Selling

"What happened is just the worst thing that could possibly happen considering their tokenomics," said Iron Finance investor Fred Schebesta.

Chain broken

Markets

Polychain, Pantera Back $14M Funding Round for DeFi Derivatives Platform SynFutures

Bybit, Wintermute, CMS, Kronos and IOSG Ventures also kicked in.

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Tech

Institutional Investors Come to Polygon Amid Rising Ethereum Layer-2 Demand, Blockchain Data Shows

Questions remain about promised scalability improvement from Ethereum 2.0.

Transactions, Digital

Videos

BTC at Work on Ethereum?

With bitcoin prices retreating over the past month, crypto traders have increasingly tokenized BTC into synthetic versions compatible with the Ethereum blockchain, where they can be deposited for extra yield on decentralized finance (DeFi) platforms. “All About Bitcoin” host Christine Lee breaks down today’s Chart of the Day.

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Tech

'Free Money' Bug Hits DeFi Platform Alchemix

The bug resulted in roughly 2,000 ETH (or $4.8 million at today's prices) being returned to borrowers prematurely.

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Markets

Decentralized Credit Protocol Goldfinch Raises $11M in Series A Funding

A16z led the round, which will enable the startup to build a network of lenders and borrowers and ramp up hiring.

Andreessen Horowitz (a16z) co-founder Marc Andreessen

Markets

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.

Kyber Network CEO Loi Luu

Videos

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).

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Finance

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.”

Members of the dYdX team

Tech

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.

Umee wants to build bridges between Ethereum and Cosmos.