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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.
First Mover: Bitcoin Surges to New 2020 High as Harvest Debacle Provides Costly DeFi Lesson
This week's $24M exploit of DeFi platform Harvest shows risks as real as rewards in open-beta crypto markets, where investor protection is minimal.
Kraken CEO Jesse Powell Issues Tough Critique of 'Reckless' DeFi Launches
"Stop f**king up your bulls**t DeFi scams and expecting exchanges to bail you out," Powell said.
Ocean v3 Brings Wave of Data Monetization Tools to Ethereum
A third version of Ocean Protocol has been released, fleshing out its vision for “datatokens” and decentralized data marketplaces.
Harvest Finance: $24M Attack Triggers $570M 'Bank Run' in Latest DeFi Exploit
Harvest Finance has seen its total value locked drop by more than $500 million in the 12 hours since being hit by a flash loan attack.
Notional Launches Out of Stealth to Bring Fixed-Rate Lending to DeFi
Notional enables fixed-rate debt on Ethereum using a new on-chain automated market maker.
Uniswap, Curve Daily Trading Volumes Surges Past $2B, Likely Driven by Harvest Attack
Daily trading volume on Uniswap surged by over 1,200% to a record $2.04 billion, surpassing the previous record high of $953.59 million registered on Sept. 1 by a big margin.
Harvest Finance Token Plummets 65% After Attack Saps DeFi Site of TVL
A possible exploit in DeFi protocol Harvest Finance has caused the site's TVL to drop sharply, along with the price of its FARM token.
Market Wrap: Bitcoin Sticks Around $13K While Ether Locked in DeFi Dips
Bitcoin’s price continues its upward trend while ether holders withdraw crypto from DeFi.
Lossless Lottery PoolTogether Opens Up to More Coins, More Prizes
PoolTogether v3 will enable more ERC-20 tokens, more yield sources and more prize distribution schemes for the DeFi savings game.
