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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.
YAM's Market Cap Falls From $60M to Zero in 35 Minutes
YAM’s market cap fell to zero just minutes after the co-founder pronounced the yield farming project dead. A rescue plan is now in the cards.
DeFi Meme Coin YAM Succumbs to Fatal 'Rebase' Bug, Makes Plans for 'YAM 2.0'
DeFi meme coin YAM has lost control of its on-chain governance feature following a reported bug.
Decentralized Finance Frenzy Drives Ethereum Transaction Fees to All-Time Highs
Average transaction fees broke all-time highs as median fees hover just below its high.
Deposits in 'Monetary Experiment' Meme Token YAM Break $460M
YAM, DeFi’s latest farm-fresh product, has never been audited. Yet, that’s not holding back traders from pumping the token’s price to a high of $138 since it launched Tuesday.
Alchemy Goes Public With Developer Platform in Bid to Grow DeFi Ecosystem
Blockchain infrastructure startup Alchemy just launched its full suite of products to the public, after a two-year closed beta serving teams like MakerDAO and Kyber Network.
DEX Aggregator 1inch Raises $2.8M From Binance Labs, Galaxy Digital and More
Launched by software engineers from Porsche and NEAR Protocol, the startup has raised $2.8 million in a funding round led by Binance Labs.
Chia Network Raises $5M to Rival New Crop of DeFi-Friendly Base Layers
Chia Network, led by BitTorrent creator Bram Cohen, just raised another $5 million in an equity round led by Slow Ventures.
Market Wrap: Bitcoin Tests $12K; DeFi Debt Outstanding Hits Record
Bitcoin’s back on the price roller coaster and DeFi borrowing is hitting a new high.
ParaFi Invests and Begins Staking in Bitfinex Spin-Out Exchange
ParaFi and D1 have invested a total of $450,000 into Bitfinex spin-out DeversiFi and will now play a governance role in the project's DAO.
Market Wrap: Bitcoin Trudges Past $11.7K as DeFi Lending Rates Gyrate
Bitcoin’s price is trending up. Meanwhile, interest rates for lending crypto in DeFi are still unpredictable.
