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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.
DeFi Fumbled Its Post-FTX Advantage in 2023, but There’s Still Hope for 2024
Major factors indicate that this could be a breakout year for decentralized infrastructure, SynFutures CEO Rachel Lin writes.
Manta Pacific Replaces Base as Fourth Largest Scaling Solution: L2Beat
Manta Pacific is the native layer 2 of the Manta Network.
Aave Community Votes To Integrate PayPal’s Stablecoin
Majority of token holders favor onboard PYUSD in AAVE's Ethereum pool, the ongoing vote shows.
DeFi Identity Should Be Focus of U.S. Policymakers, CFTC Says
Policymakers should identify the projects of greatest concern and prioritize progress on digital identity, a report from one of the regulator's committees said.
ENS Token Jumps 50% as Vitalik Buterin Hails It as 'Super Important'
The token touched the highest level since April and volume increased more than 600%.
Jupiter Targets JUP Airdrop for End of January
The Solana-based trading aggregator will test the longevity of the Solana frenzy.
Blast Hits $1.1B in Deposits More Than a Month Before It's Due to Go Live
Depositors will receive an airdrop that can be redeemed in May 2024.
PancakeSwap Proposes to Reduce CAKE Token Supply by 300 Million
More than 99.95% of the community, representing 70,000 votes from CAKE holders, favored the proposal shortly after it went live.
Crypto Users Lost $2B to Hacks, Scams and Exploits in 2023, De.Fi Says
The figure is roughly half the estimated $4.2 billion of 2022, a year that also included $40 billion lost through the collapse of Terra, Celsius and FTX.
Crypto Market Leaders and Laggards in 2023
"CoinDesk Daily" host Amitoj Singh breaks down some of the biggest winners and losers in the crypto market this year. CoinDesk Indices data reveals that the computing sector was the clear leader among sectors in 2023, while DeFi underperformed. Bitcoin (BTC) was also a standout, rising roughly 164% year-to-date.
