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.


Finance

DeFi Infrastructure Provider Sooho.io Raises $4.5M for Bridging Blockchains

The South Korean company will use the funds to develop a range of blockchain tools for building decentralized finance applications that link the country's independent crypto networks.

Seoul (Unsplash/Yohan Cho)

Finance

SynFutures Says New v2 Upgrade Adds ‘Permissionless Listing’ of Futures

The upgrade includes permissionless trading and improved user protections amid to widens accessibility of DeFi among retail investors, according to Singapore-based SynFutures.

(Getty Images)

Consensus Magazine

Adoption of DeFi, ZK Tech, NFTs and More Will Continue to Increase in 2023

The crises of the past year obscured genuine advancement in promising crypto industries, writes Pantera Capital General Partner Paul Veradittakit. Here's where a leading investor sees growth in the coming year.

(Michael Dziedzic/Unsplash)

Markets

Maple Finance's $54M of Sour Debt Shows Risks of Crypto Lending Without Collateral

Maple Finance, the largest unsecured crypto lending platform, is grappling with a debt crisis while gearing up for a major system upgrade. The project's MPL token has plunged, and depositors are likely to stomach big losses. Here's how it happened, and what comes next.

There's some $54 million of sour debt on Maple Finance's lending platform because some of its largest borrowers were devastated in the FTX-blowup. (Michael Diane/Unsplash)

Markets

Grayscale, in the Spotlight as GBTC Discount Widens, Says DeFi Fund Now Trading

The debut of the DEFG fund in over-the-counter markets comes as Grayscale’s largest fund, the Grayscale Bitcoin Trust (GBTC), is trading at a record discount and at the center of crypto-market speculation.

Grayscale's Michael Sonnenshein speaks at Invest: NYC 2019 (CoinDesk)

Finance

DeFi Protocol Perennial Launches, Announces $12M in Funding

Polychain Capital and Variant co-led a seed round for the decentralized derivatives protocol.

DeFi protocol Perennial makes public a $12 million fundraise. (Unsplash)

Finance

Attacker Targets Wealthy Crypto Funds Using Telegram Chats

Exchange owners cautioned against downloads of malicious as attackers zeroed in on gullible users with a very relevant and specific narrative.

(Adam Levine/CoinDesk)

Tech

What Does an AI Chatbot ‘Think’ About DeFi? We Asked ChatGPT

ChatGPT, CoinDesk’s new, robot-guest contributor, explains how AI might help (and harm) the future of DeFi.

AI Artwork Robot writing typing writer (DALL-E/CoinDesk)

Tech

DeFi Project Mercurial Plots Revamp and New Tokens Following 'Toxic' Association With FTX

Mercurial would launch some of its popular products as a separate project under the name Meteora.

Piggy bank bent forward change money coins (Andre Taissin/Unsplash, modified by CoinDesk)