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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.
Memecoin Frenzy Reaches Tron as Justin Sun-Backed SunPump Rakes in Big Bucks
The memecoin generator launched in mid-August and has crossed $1 million in revenues in its first nine days - a large amount considering Tron’s low fees.
Chaos Labs Raises $55M as Demand Grows for On-Chain Risk Management
The influx of capital comes as Chaos Labs, founded in 2021, looks to expand its platform, designed to address the growing need for automated risk management in decentralized finance (DeFi).
Asset Manager Grayscale Introduces Crypto Fund for MakerDAO's MKR
The company unveiled similar single-asset trusts for TAO and SUI and a fund that invests in a basket of decentralized artificial intelligence-focused tokens over the past month.
Defi Hacks Remain a Major Threat Despite 50% Decline in 2023: Halborn
The report warns that protocols should improve security by using multi-sig wallets and vetting counterparty code.
Gyroscope Rolls Out Yield-Bearing Version of Stablecoin Targeting Over 10% Yield
The Galaxy-backed project aims to attract DAO treasuries to allocate to its new stablecoin.
Preparing for DeFi Regulation: The Role of Portable KYC
As regulators scrutinize DeFi more closely, participants need to improve compliance around AML and KYC and make the process easier for customers, says Thomas Gentle, Compliance Officer, Quadrata.
Synthetix Founder Donated Funds to Beleaguered Ex-Treasurer: EmberCN
The former treasurer was liquidated during the weekend's crypto market plunge.
Trump-Themed ‘DJT’ Token, Issued by Martin Shkreli, Suddenly Dives 90%
A single wallet sold $2 million worth of the token earlier Tuesday, causing market capitalization to fall from $55 million to as low as $2 million almost instantly.
Defi Giant Aave Rakes in $6M in Revenue as Crypto Market Plunges
Aave shows defiance during the sell-off by profiting off user liquidations.
Kujira Foundation's Tokens Stung by Its Own Leveraged Positions as Bets Backfire
The developers said the team’s positions were “targeted” and they will create an operational DAO to take ownership of the Kujira Treasury and core protocols.
