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📊 Decentralized Finance TVL Recovers to $100B After July Lows
Between June 19 and July 19, within a 30-day period, the total value locked (TVL) in decentralized finance (defi) dropped below the $100 billion mark, hitting a low of $86.3 billion on July 7, 2024. Over the past three days, however, the TVL has managed to stay above the $100 billion threshold.
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💰 Cardano DeFi TVL Jumps 20% As Hydra Prospects Enters Spotlight
A new Hydra update has triggered an uptrend in the Cardano Decentralized Finance (DeFi) Total Value Locked (TVL). Data from DeFiLlama shows that the Cardano DeFi TVL has climbed to $243.17 million. Compared to July 6 when this metric was $242.13 million, the network has seen more than a 20% increase in about two weeks. Stablecoins on the Cardano ecosystem have a market cap of $15.88 million while the 24-hour trading volume is $267.3 million.
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/channel/DeFi_Ethereum
💰 DeFi Technologies Doubles Bitcoin Treasury Holdings and Adds Solana and Core
Canadian fintech firm DeFi Technologies (DEFTF) has added another 94.4 Bitcoin (about $6.1 million worth) to its balance sheet, building on its adoption of BTC as its “primary treasury reserve asset” last month. This marks the firm’s second publicly announced Bitcoin purchase, bringing its total holdings up to 204.34 BTC, worth $13.2 million as of this writing.
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/channel/DeFi_Ethereum
🪙 Uniswap Labs publicly launches wallet browser extension supporting 11 blockchains
Uniswap Labs, the organization building out the decentralized exchange Uniswap, has publicly launched its wallet browser extension on Chrome. Users can add the extension to their browser via Google's Chrome Web Store, after which they can set up a new Uniswap wallet or import an existing one. The extension works with the blockchain networks Ethereum, Base, Arbitrum, Optimism, Polygon, Blast, ZKsync, Zora Network, BNB Chain, Avalanche and Celo.
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📣 Crypto.com Launches $DYDX On-Chain Staking in App
Crypto.com has introduced on-chain staking for $DYDX within its app. It allows users to engage directly with the dYdX Chain. This move aims to enhance user participation in decentralized finance (DeFi). It will enable them to stake $DYDX tokens and earn rewards of up to 12%. In particular, dYdX Chain is also well-known as one of the most popular decentralized exchange platforms focusing on perpetual contracts.
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🪙 Chainlink Data Feeds Are Now Live on Starknet, Accelerating DeFi Development and Ecosystem Adoption Through the Chainlink SCALE program
Chainlink, the industry-standard decentralized computing platform, and Starknet, the secure scaling technology bringing Ethereum's benefits to the world, announced today that Chainlink Data Feeds, the industry-leading data solution for DeFi, are now live on Starknet mainnet. Starknet is an ecosystem that helps developers to overcome Ethereum's scalability limitations while ensuring computational integrity. The addition of Data Feeds offers support for developers who are building highly scalable and secure DeFi applications on Starknet.
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📊 DeFi Apps Frontend Targeted in Domain Registry Attack on Squarespace
On July 11, several decentralized finance (DeFi) apps fell victim to a domain registry attack, according to a post on X by Blockaid. The initial investigation suggests the attacker is targeting domain names hosted by Squarespace, putting any DeFi app using a Squarespace domain at potential risk. The attacker managed to take over the DNS registry for Compound Finance and attempted, but failed, to do the same with Celer Network's registry.
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🆘 DeFi apps targeted in apparent Squarespace DNS registry attack: Blockaid
Multiple decentralized finance (DeFi) apps were targeted in a domain registry attack on July 11, according to an X post from blockchain security platform Blockaid. The attacker has taken control of the DNS registry for Compound Finance and has attempted — but failed — to take control of Celer Network’s registry. After a preliminary investigation, Blockaid concluded that the attacker is targeting domain names provided by Squarespace, potentially putting any DeFi app with a Squarespace domain at risk.
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📣 Lyra Finance Offers Leveraged Exposure to ETH Through Ethena
Lyra Finance, a DeFi platform offering tokenized derivatives and yield, is offering an extra 2.5x on sUSDe yields when ETH rises via a partnership with Ethena. Users who deposit into Lyra’s new sUSDeBULL vault will be earning LDX Points from Lyra and Ethena Sats, while maintaining exposure to Lyra’s automated options strategy that is meant to increase yields as ETH goes up, and preserve yield when the ETH price chops.
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Breaking: 🪙 Uniswap Labs Urges SEC to Rethink DeFi Rule Expansion
Uniswap Labs has formally petitioned the U. S. Securities and Exchange Commission (SEC) to revisit the proposed rule changes it has made to the Securities Exchange Act of 1934 with the aim of broadening the definition of an “exchange”. Uniswap claims the proposed changes would trespass the SEC authority over the DeFi platforms and are likely to be voided by the Supreme Court based on the recent decision.
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📣 Taiko Launches DeFi Challenge in Trailblazers Campaign
Taiko, a prominent player in the blockchain space, has announced the fourth installment of its Trailblazers campaign, dubbed the Trail 4 challenge. This initiative, set to run from July 8th to July 21st, 2024, invites participants to delve into decentralized finance (DeFi) by engaging with various partner protocols, according to taiko.mirror.xyz.
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📊 DefiLlama reveals how crypto hackers stole $664m from investors in 2024
Crypto investors lost $664 million to hackers in the first half of the year, marking a more than 50 percent increase compared to the same period last year, DefiLlama data revealed. It noted that crypto hackers were often skilled bad actors, who work for cybercrime syndicates, such as North Korea’s state-sponsored Lazarus Group, which was suspected of having stolen billions in crypto.
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📊 Pendle's TVL Drops 45% as Key Markets Mature
Yield trading protocol Pendle’s Total Value Locked (TVL) plunged by 45% in just a week, dropping to $3.5 billion from $6.2 billion, according to DeFiLlama data. This sharp decline happened as several liquid restaking markets, including Ether.Fi’s eETH, Renzo’s ezETH, Puffer’s pufETH, Kelp’s rsETH, and Swell’s rswETH, matured on June 27. When these markets matured, they allowed users to redeem their principal investments, leading to substantial capital withdrawals.
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📣 DeFi restaking protocol Symbiotic TVL Triples To $1B Within 24 Hours Of Raising Deposit Limits
The TVL of Symbiotic, the upstart Ethereum restaking protocol seeking to challenge EigenLayer’s dominance, tripled in less than 24 hours to more than $1 billion after increasing its deposit limit. On July 3, Symbiotic raised its deposit cap from roughly 92,000 ETH, inspiring users to pile 232,028 ETH liquid staking tokens (LSTs) worth more than $700,000 into the protocol.
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📣 DeFi Lender Liquity To Undergo “Friendly Fork” In V2 Upgrade
Liquity, a Decentralized Finance (DeFi) lender is prepared to undergo a “friendly fork” as part of its v2 upgrade. In a blog post, the protocol stated that it decided to go through the friendly fork after an intense reflection on the history of its v1. This review coupled with Liquity’s desire to take a more proactive approach with third-party deployment of its v2 upgrade. Ultimately, Liquity sees the possibility of having the v2 codebase as the preeminent solution for launching a collateralized onchain stablecoin.
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⬜️ OKX Wallet Integrates with Umami Finance to Enhance DeFi Accessibility
Leading global cryptocurrency platform OKX has today announced that it is integrating its exclusive wallet service with Umami Finance, a decentralized ecosystem of financial applications. The development brings a significant change in the cryptocurrency industry, as it helps to enhance customer access and make yield-generating products available easily through OKX Wallet.
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🚨 DeFi Protocol Rho Markets Hacked for $7.6 Million
Rho Markets, a liquidity layer and lending protocol built on the Scroll network, has been compromised in an exploit draining over $7.6 million worth of cryptocurrencies. The stolen funds primarily consisted of USD Coin (USDC) and Tether USD (USDT), two major stablecoins pegged to the US dollar. Upon detecting unusual activity, Rho Markets promptly halted platform operations to prevent further losses.
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/channel/DeFi_Ethereum
🚨 Defi Protocol LI.FI Struck by $11M Exploit
Decentralized finance (DeFi) platform LI.FI protocol has been hit by a roughly $11 million exploit following a series of suspicious withdrawals, on-chain data shows. LI.FI is a protocol that allows users to trade across various blockchains, venues and bridges. It suffered a bug with its swapping feature in 2022, resulting in a $600,000 loss, PeckShield described the recent bug as "basically the same."
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📣 DeFi Protocols Such as Lido Are Generating More Fees Than Layer 1 Blockchains
According to Ethan Francis, the head of protocol relations at Web3 infrastructure provider Particle Network, fees generated by DeFi projects will continue to grow in the next six to 12 months as a result of “chain abstraction,” in which end users conducting onchain transactions are not going to know which chains they are using.
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📣 Exponential.fi Wants to Make It Easier to Invest in DeFi
Exponential.fi, best known as a crypto risk assessment platform, is launching a new product suite designed to make the world of decentralized finance (DeFi) less daunting for retail traders. The new platform, which has been available to a small number of beta testers for the past year, aims to serve as a one-stop shop for traders to identify, learn about and invest in crypto opportunities.
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/channel/DeFi_Ethereum
📊 Crypto hacks top $1.4B, MetaMask streamlines Web3 onboarding: Finance Redefined
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. This past week, significant new developments were announced by industry-leading Web3 firms, including MetaMask, Polygon and StarkNet. Each revealed promising new infrastructure developments that could bolster mainstream adoption.
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/channel/DeFi_Ethereum
🆘 More Than 220 DeFi Protocols Still 'at Risk' From Squarespace DNS Hijack
In the wake of the recent DNS hijacking attack on decentralized finance (DeFi) protocols, fresh insights have emerged about the potential extent and nature of the breach. The incident, highlighted by various sources, including blockchain security firm Blockaid, involved attackers targeting DNS records hosted on Squarespace. Those records were redirected to IP addresses associated with known malicious activities, Ido Ben-Natan, co-founder and CEO of Blockaid, told Decrypt.
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📣 Stellar Network Brings DeFi to the Unbanked With Smart Contract Platform
Banking the unbanked has been touted as one of the core use-cases of crypto since its inception—but the industry’s faced challenges in the form of high transaction fees and a lack of dedicated infrastructure. Launched earlier this year with the Protocol 20 update, the upgrade to the Stellar network introduces smart contracts into the Stellar ecosystem—and aims to bring the industry closer to its goal of becoming the digital financial rails for those without access to banks or other financial services.
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🗣️ "Bitcoin can reach $100,000 by the end of this year" - Anthony Scaramucci
What's your prediction? Which number will it reach?
🐳 - 100k
⚡️ - 90k
❤️ - 75k
🌚 - 50k
🤝 @Cryptocurrency_Inside ✅
📣 DeFi Data Firm API3 Launches OEV Network for DeFi Projects EthCC 7
API3, a service that provides DeFi data feeds to blockchain-based smart contracts, has launched the oracle extractable value (OEV) network. In an announcement made at EthCC 7, hosted in Brussels, the capital of Belgium, API3 said the OEV Network is a first-of-its-kind onchain solution that can recapture OEV. This refers to oracles making use of their position to capture value that would otherwise have gone to third parties.
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/channel/DeFi_Ethereum
📊 NextGen DeFi Asset Management Automation Layer to be Showcased at ETHcc7
IPOR Fusion, a meta DeFi aggregation, execution, and intelligence engine, presents a unified liquidity framework for on-chain asset management at ETHcc7. Zug, Switzerland – IPOR Labs, the company behind the IPOR interest rate derivatives protocol and IPOR Fusion, has announced its sponsorship of the biggest Ethereum ecosystem event in Europe – ETHcc[7].
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⬜️ OKX Enhances DeFi Ecosystem with Geode Finance Partnership
OKX Wallet has announced its integration with Geode Finance, a pioneering decentralized protocol for staking solutions on the Ethereum blockchain. According to the new release, the OKX Wallet will users to access Geode’s advanced staking library in the staking pools of their choice. Geode Finance also improves security and yield-bearing assets with a staking model that offers stability and the possibility of increased fiat accessibility.
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🔵 Inside Aave founder Stani Kulechov’s ‘grand plan’ as the $11bn DeFi lender leapfrogs MakerDAO
Aave Labs built its brand over the last seven years by setting up a no-frills lending platform. It shunned complexity and weathered the 2022 bear market as a steady DeFi banking business. It comprises a stablecoin, called GHO; a crypto wallet called Family; and Lens Protocol, and a social media network that is in the process of raising $50 million from investors.
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📣 Pendle DeFi Faces TVL Drop, New Catalysts on the Horizon
Pendle DeFi’s Total Value Locked (TVL) has slumped dramatically. Pendle’s TVL was noted at $6.18 billion as of June 27, but it has dropped 42% to $3.6 billion since then. This article explores the causes of this notable drop, forthcoming Pendle catalysts, and the yet-unrealized possibilities in the protocol. Pendle’s TVL drop results mostly from maturation of some liquid restaking market pools on June 27. Many players left the point-farming game at this stage due to their disapproval of the approaching LRT airdrop.
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📣 HTX Ventures Invests in RedStone Oracles to Expand Modular DeFi Infrastructure
In support of a more efficient and user-friendly DeFi market, HTX Ventures, the global investment arm of the cryptocurrency exchange HTX, has announced a strategic investment in RedStone. RedStone is one of the fastest-growing modular oracles in 2024 that delivers diverse, high-frequency data feeds to EVM Layer1, Layer2, Rollup-as-a-Service networks, and beyond, including Starknet, Fuel Network, and TON.
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/channel/DeFi_Ethereum