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.


Policy

UK Tax Authority Proposes Changes to Treatment of DeFi Lending, Staking

The proposal, now open for public consultation, will also apply to crypto lending and staking through intermediaries, the authority said.

(Chris Lawton/Unsplash)

Tech

PancakeSwap's DAO Voting for 'Aggressive Reduction' of CAKE Token Inflation

So far, 70% of the community votes have been in favor of reducing block rewards drastically over the next few months.

Pancakes (Mae Mu/Unsplash)

Finance

Cross-Chain Bridge Stargate's Volume Soars as Airdrop Hunters Set Sights on LayerZero Token

Crypto traders are using the Stargate bridge in the hope that they will be eligible for a rumored LayerZero airdrop.

Puente. (Aleksandr Barsukov/Unsplash)

Tech

DEX Merlin and CertiK Plan to Compensate $2M to Users Impacted in Rug Pull

A rogue developer behind the hyped launch allegedly conducted the rug pull on Wednesday.

(Ryan Quintal/Unsplash, Modified by CoinDesk)

Finance

CeFi Exchanges Helped Mass Crypto Adoption; DeFi Will Further It

Centralized exchanges will continue to serve as a first step into crypto but decentralized exchanges will further the future of financial systems, panelists say at Consensus.

Sidney Powell, Salman Banaei and Nathan Cha at Consensus 2023 (Shutterstock/CoinDesk)

Markets

Arbitrum Airdrops $120M to Projects; Some Dump, Some Look to Bolster Themselves

Not everyone is aiming for community growth and market capture with the ARB stimulus.

(Pixabay)

Finance

DeFi Protocol iZUMi Finance Raises $22M

The fundraising round involved issuing semi-fungible tokens.

Brevan Howard Digital was among the backers for Puffer's $5.5 million round. (Pixabay)

Finance

DeFi Protocol DFlow Raises $5.5M to Bring Payment for Order Flow to Crypto

The project would bring a controversial practice in the equities market into the world of decentralized finance.

Lending money handing over paying cash (Shutterstock)

Consensus Magazine

What to Expect at Consensus 2023

From Solana phones to the future of U.S. crypto policy, here’s what to look out for at crypto’s Big Tent event – Consensus.

(CoinDesk)

Finance

DeFi Protocol Thetanuts Finance Raises $17M for Expansion, New Partnerships

The startup offers multi-chain structured financial products with plans for a buy-side altcoin options market.

(Pixabay)