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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.
Developers Deploy Uniswap Contracts on Bitcoin as BRC20-Based SHIB, PEPE Gain Popularity
Tokens issued on Bitcoin ran to a cumulative market capitalization of as much as $1.5 billion earlier this week before sharply correcting.
Urbit, a Network Older and Weirder Than Bitcoin, Finally Turns Toward Growth
The peer-to-peer network started in 2002 says it's taking on "MEGACORP," much in the same vein as many blockchain networks. A bit more fun are the "secret code names" that users are assigned.
DeFi Broker Prime Protocol Introduces Bridgeless Cross-Chain Token Transfers
The protocol aims to eliminate the need for token bridges, wraps and swaps to make moving crypto tokens between blockchains safer.
Phoenix Labs CEO on DeFi Giant MakerDAO's Spark Protocol Launch
MakerDAO launches Spark Protocol today, a front-end access lending protocol specifically designed for Maker's DAI stablecoin. Sam MacPherson, co-founder and CEO of Phoenix Labs, which contributes to Spark Protocol, joins "First Mover" to discuss the rollout and how Spark aims to address the potential risks of decentralized finance (DeFi). Plus, why Spark is not being offered in the U.S.
Ether Staking Deposits Top Withdrawals for First Time Since Shapella Upgrade
The divergence comes amid a meme coin frenzy that has pushed up fees on the Ethereum blockchain.
First Book on FTX and SBF's Implosion Published
Veteran crypto journalist and former CoinDesker Brady Dale has published a new book on FTX founder Sam Bankman-Fried's downfall and the longevity of decentralized finance (DeFi). Dale joins "The Hash" to share insights into his book and the lessons learned from FTX's collapse.
Mysten Labs CEO on Sui Mainnet Going Live
Layer 1 blockchain Sui launched its mainnet this week, as it aims to edge out rivals like Aptos and other DeFi heavyweights. Evan Cheng, co-founder and CEO of the blockchain's core contributor Mysten Labs, shares insights into the benefits and opportunities of Sui and how it aims to stand out from the competition. Plus, Cheng reflects on the lessons learned from previously working on the Meta-led Diem project, formerly known as Libra.
Pepecoin Short Sellers Lose Millions as PEPE Nears $1B Valuation
The tokens have run from strength to strength in the past week even as skeptics warned of an impending collapse.
Liquid Staking Platform Lido Surpasses 6M Ether Deposits as Shanghai Upgrade Spurs Inflows
Ethereum’s Shanghai upgrade spurred deposit inflows to liquid staking protocols, including to the largest player Lido.
Layer 2 Network Optimism to Use Ethereum Attestation Service to Promote User Trust
The attestation service will allow any Optimism user to create digital sign-offs on all kinds of information involving the blockchain’s activities and users.
