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.


Tech

Liquid Staking Frenzy Spreads to Solana as Drift's 'Super Stake' Offers One-Click Leverage

Drift Protocol’s “Super Stake” is a hit among traders trying to get extra yield on their staked SOL tokens.

Solana's offices in New York (Danny Nelson)

Tech

Decentralized Exchange PancakeSwap Goes Live on Polygon zkEVM Blockchain

This will be the popular DEX’s fourth blockchain after BNB Chain, Ethereum and Aptos.

Pancakes.(Mae Mu/Unsplash)

Tech

New deBridge Feature Lets Solana Users Easily Access Any Ethereum-Based Blockchain

deBridge said the feature was the first time a Solana user could access Ethereum Virtual Machine-based blockchains, such as Arbitrum, without relying on derivative tokens or wrapped tokens, which present a security risk.

Bridge (Alex Azabache/Unsplash)

Finance

COMP Token Rises by 50% in 4 Days Amid Flurry of Whale Activity on Binance

One wallet deposited $3.5 million worth of USDT and withdrew $7.76 million in Compound's COMP tokens this week.

COMP/USD chart on Binance (TradingView)

Tech

Compound Founder Forms 'Superstate' to Create Bond Fund With Ethereum for Record-Keeping

The new fund will invest in short-term U.S. government bonds, relying on a traditional Wall Street transfer agent for keeping track of holders but using Ethereum as a secondary record-keeping source.

Compound founder Robert Leshner speaks at Token Summit 2019. (CoinDesk)

Tech

Chibi Finance Rug Pulls Users for $1M, CHIBI Falls 98%

CHIBI tokens dropped 98% in the past few hours.

Revolut's customer data was compromised by a phishing attack. (Shutterstock)

Markets

3AC-Linked FLEX, OX Tokens Surge Despite Lack of New Holders

Less than 2,000 wallets hold OX tokens, a level that’s far below the average holders of tokens with similar market capitalizations.

(The Image Bank RF/Getty Images)

Consensus Magazine

Berlin: The Center for Decentralized Finance – and Techno Music

When the tech hub of Europe meets a society that prizes financial autonomy, the result is a crypto community that practices the very decentralization it preaches. Case in point: Blockchain Week Berlin, the flagship annual conference of the No. 10 spot in CoinDesk’s Crypto Hubs 2023, is a self-organized, crypto-agnostic community initiative.

berlin germany (Florian Wehde/Unsplash)

Tech

Uniswap's Hayden Adams: Q&A on Weathering the Regulatory Storm, What’s Next for DeFi

After the recent release of a proposal for a new "v4" version of the decentralized exchange Uniswap, CoinDesk's Sam Kessler chats with Uniswap Labs CEO Hayden Adams about the case that DeFi is “here to stay” and his position that the U.S. “lags behind” on crypto regulation.

Hayden Adams, CEO of Uniswap Labs. (LinkedIn)

Videos

Lack of Advancement in Crypto Regulation Could Make U.S. Less Attractive: Moody's

If crypto legislation in the U.S. remains lacking, it could make the country "comparatively less attractive for both firms and investors," according to a recent report from Moody’s Investors Service. Moody’s Investors Service SVP for DeFi and Digital Assets Rajeev Bamra joins "First Mover" to discuss the takeaways from the report and the outlook for regulatory clarity.

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