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.


Markets

Solana Liquid-Staking Tool Marinade Looks to Bolster Its Token Value With Staked SOL Capture

Pseudonymous Marinade developer Cerba said the effort will bring more legitimacy to mSOL, which is ahead of Lido’s Solana LSD token despite that big-name protocol’s dominance on Ethereum.

Marinade.Finance is looking to bolster the value of its MNDE tokens. (Dall E)

Markets

Cardano-Based Overcollateralized Stablecoin Djed to Launch Next Week

The stablecoin can be minted by ADA holders and is widely expected to be integrated to several Cardano dapps upon launch.

(eswaran arulkumar/Unsplash)

Tech

Aave Community Voting to Deploy Version 3 on Ethereum

If the proposal passes, the latest iteration of the Aave protocol will come to the Ethereum blockchain, Aave’s first and largest market.

(MidJourney/CoinDesk)

Tech

DeFi Protocol Sushi Passes 2 Governance Votes to Strengthen Treasury

The separate proposals passed in the past two days by Sushi community voters are part of a broader plan to ensure the project’s longevity.

The entity that oversees the SushiSwap crypto exchange is reorganizing. (Unsplash)

Finance

Swapping More Than $157M of ETH for stETH and Levering Up, the Wormhole Network Exploiter Is a DeFi Degen

The address that hacked one of the most popular cross-blockchain bridges Wormhole started moving capital in the DeFi ecosystem.

Cypher Protocol suffers exploit (Clint Patterson/Unsplash)

Finance

VC Firm Pantera's 2023 Crypto Forecast Says the Future Is DeFi

The crypto-focused venture capital firm is focused on transaction fees, liquidity and usability.

Pantera Capital CEO Dan Morehead (CoinDesk)

Tech

MakerDAO Approves Deployment of $100M USDC on DeFi Protocol Yearn Finance

The decision opens the way for MakerDAO to earn an estimated 2% annual yield on USDC stablecoin deposits.

(Cleveland Trust Co/Modified by CoinDesk)

Tech

Uniswap Poll Shows 80% Support Decentralized Crypto Exchange's Move to BNB Chain

More than 20 million UNI were staked by community members to cast their votes.

(Unsplash, modificado por CoinDesk)

Tech

Fantom Blockchain to Fund Ecosystem Projects Using Portion of Burnt FTM Fees

The fund is aimed at empowering builders on Fantom by offering a decentralized avenue for funding projects, ideas and creations through a community-driven decision process.

Fantom will invest in projects using a portion of burn fees. (Shutterstock)

Tech

Cross-Chain Bridge Protocol Stargate Partners With Metis for More Efficient Interoperability

The move will be the first expansion for Stargate beyond LayerZero technology.

Puente. (Aleksandr Barsukov/Unsplash)