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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.
Crypto Derivatives DEXs Reposition for Life After FTX
Decentralized exchanges are retooling their public-facing approach.
DeFi Protocol Ankr Says It Will Reimburse Users Affected by $5M Exploit
Decentralized finance (DeFi) protocol Ankr said it will reimburse the users impacted by the $5 million exploit that occurred on its platform Friday. "The Hash" panel discusses the latest DeFi exploit and its possible regulatory implications.
How Attackers Made $15M From Staking Platform Helio After Ankr Exploit
A delay in updating price data on BNB-related derivative tokens allowed some exploiters to piggyback off a previous attack.
Avalanche-Based DEX Trader Joe to Soon Deploy on Ethereum Scaling System Arbitrum
Trader Joe locked up over $95 million worth of tokens as of Friday and is among the most popular Avalanche-based products.
DeFi Protocol Ankr to Reimburse Users Affected by $5M Exploit
The attacker was able to mint 6 quadrillion aBNBc tokens, which was eventually turned into roughly 5 million USDC.
MakerDAO Community Votes to Hike DAI Rewards to 1%
Some 71% of voters favored hiking the DAI Savings Rate to 1%, the highest option offered in the voting.
Is Binance Becoming Too Dominant?
Has crypto exchange Binance become too big? Binance Chief Strategy Officer Patrick Hillmann addresses the concerns around centralized crypto platforms, saying "I don't think it will really be an issue because in the end, it will be DeFi that reigns supreme."
Polygon APIs to Soon Deploy on Web3 Indexing Service The Graph
The Graph is a decentralized protocol for indexing and querying data from blockchains, starting with Ethereum. It makes it possible to query data that is difficult to query directly.
Bernstein: Crypto User Activity Is Moving On-Chain Following FTX's Collapse
The Arbitrum and Optimism blockchains are seeing the strongest momentum in terms of user trends, a report from the firm said.
Crypto Trader Auros Global Misses Payment on DeFi Loan as FTX Contagion Spreads
The company missed payment on a 2,400 wrapped ether loan worth $3 million from a M11 Credit pool on Maple Finance.
