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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.
Nearly $360M in Bitcoin Moved to Ethereum in October Despite DeFi Cool-Off
October’s growth is less than half of September’s 68,000 newly tokenized bitcoins.
Market Wrap: Bitcoin Flat at $15.3K; Crypto Locked in DeFi at All-Time High
Bitcoin’s price takes a break while DeFi value locked is at record levels.
Kadena Partners With Stablecoin-Maker Terra in Bid to Expand Its DeFi Offering
The hybrid blockchain maker Kadena, said Tuesday it has partnered with Terra and will be adding Terra’s stablecoin luna to its decentralized exchange Kadenswap.
Market Wrap: Bitcoin Loses Steam at $15.9K; Over 600K ETH Yanked From DeFi
Bitcoin’s price was close to $16,000 Friday but lost momentum while ether locked in DeFi is on a downward trend.
Buggy Code in This Compound Finance Fork Just Froze $1M in Ethereum Tokens
Some $1 million in Ethereum tokens is locked in a new DeFi app after its developers made changes to the protocol’s contracts.
Binance Recovers $344K From Scam DeFi Project Launched on Its Platform
Having raised the funds at launch on Binance Smart Chain in October, the operator fled with users' cryptocurrency "within an hour," Binance said.
DeFi Sell-Off Continues as Index Futures Retrace to June Levels
DeFi indices on FTX and Binance continue to plummet.
The 2020 Elections Are Boosting Crypto Prediction Markets
Decentralized betting platforms like Polymarket and YieldWars are seeing accelerated trading volume growth leading up to the 2020 U.S. presidential election.
DeFi Trading App Dharma Now Connects Directly to US Bank Accounts
The startup for trading in decentralized finance (DeFi), Dharma, has now enabled automated clearing house (ACH) purchases in 13 U.S. states.
Binance Labs–Backed ‘DeFi Credit Union’ Bringing Higher Yields to Savers in Nigeria
With backing from Binance Labs, Nigeria's Xend Finance is looking to bring DeFi to the world of local credit unions.
