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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.
Num Finance Raises $1.5M, Will Expand Stablecoins in Latin America, Middle East
Decentralized finance protocol Num Finance will offer stablecoins in Brazilian real, Colombian peso, Mexican peso and Bahrain dinar within the next month.
Justin Sun Moves $4.3M of MakerDAO's Tokens to Binance: Blockchain Data
Tron founder Justin Sun’s potential sale of MakerDAO’s token – movements of tokens to an exchange often come before sales – coincide with the DeFi protocol’s controversial restructuring.
Aave V2 Users Temporarily Unable to Access $120M on Polygon After Governance Bug
All funds remain safe and a governance proposal is underway to update the faulty strategy, developers said.
Crypto Hacks Are Down and Hackers Tend to Return Stolen Money: TRM Labs Report
The sanctions against Tornado Cash, as well as last year's arrest of the Mango Markets infiltrator, motivate hackers to return their loot, researchers believe.
Tornado Cash’s TORN Token Rises After Attacker Proposes to Undo Attack
The Tornado Cash token (TORN) rose after a proposal submitted by a wallet address linked to a recent attack on the decentralized autonomous organization’s (DAO) governance state looks to reverse the malicious changes. "The Hash" panel discusses the outlook for the governance of Tornado Cash's DAO in the latest DeFi exploit making waves in the crypto space.
DEX Mangrove Launches on Polygon Testnet, Plans to Go Live on Mainnet in June
Wintermute and Cumberland-backed Mangrove plans a mainnet launch of its programmable order book DEX in early June.
Attacker Takes Over Tornado Cash DAO With Vote Fraud, Token Slumps 40%
A malicious proposal allowed an unidentified attacker to take over Tornado Cash, opening up the floodgates to a potential treasury drain.
Vega Token Rallies Ahead of Protocol Possibly Going Live Monday
The platform is awaiting an expected approval from the community, said Vega’s co-founder.
Privacy-Focused Network Horizen Expected to Undergo Node Upgrade in June
The upgrade would bring enhancements to sidechains and bug fixes.
DeFi Must Get Easier to Use to Win Over Retail Customers: Uniswap Survey
The many pains of using decentralized finance (DeFi) protocols may be stopping occasional crypto users from experimenting with on-chain services, according to a survey conducted by Uniswap Labs. "The Hash" panel discusses the findings and the potential hurdles ahead on the path to mainstream DeFi adoption.