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📊 Streamlining DeFi lending with cross-chain functionality: X Spaces with Nolus Protocol
While DeFi lending shows growth and offers exciting opportunities, its challenges may hinder mainstream adoption. Kamen Trendafilov, a co-founder of Nolus Protocol, discussed the topic at the recent Cointelegraph X Spaces. Trendafilov believes that the market’s potential is restricted by the overabundance of locked-up collateral since it wastes capital that could be used to minimize counterparty risk.
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/channel/DeFi_Ethereum
💰 Bitcoin DeFi Protocol Seeks to “Save” WBTC from Justin Sun
Threshold, a Bitcoin DeFi protocol with a $212 million market capitalization, has proposed to merge its tBTC token with wrapped Bitcoin (WBTC) in an effort to “save” WBTC from falling into the wrong hands amid a looming change in WBTC’s custody model. The proposal comes after a recent move by BitGo – the custodian behind WBTC – to join forces with BiT Global, a Hong Kong-based company with deep ties to controversial Tron founder Justin Sun.
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/channel/DeFi_Ethereum
📣 BounceBit to Launch CeDeFi V2 Platform with Modifications for DeFi and Gaming
BounceBit (BB) is getting ready to launch BounceBit V2 in September 2024, which will make significant changes to its centralized decentralized finance (CeDeFi) infrastructure and BounceClub. The new version aims to improve user experience through the inclusion of innovative features from the decentralized finance (DeFi), artificial intelligence (AI), and gaming sectors.
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/channel/DeFi_Ethereum
📊 DeFi protocol Threshold proposes Bitcoin wrapper merger to ‘save WBTC’
Bitcoin decentralized finance (DeFi) protocol Threshold is proposing to merge its own BTC “wrapper” token, tBTC, into Wrapped Bitcoin (WBTC) in a bid to “save WBTC” following concerns about an impending change in control of the popular BTC wrapper, according to an Aug. 29 proposal in Threshold’s governance forum.
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/channel/DeFi_Ethereum
📣 DeFi network Radix team cuts 15% of staff, citing need to ‘refocus’
RDX Works, the team behind the Radix decentralized finance (DeFi) platform, has axed 15% of its workforce, citing a need to lower costs. The Radix network launched its mainnet in July 2023 and offers developer tools to build and run decentralized applications (DApps) and financial services on the blockchain. Piers Ridyard, the company’s CEO, confirmed in an Aug. 29 statement in the company’s official Telegram group that the staff cuts are to “refocus” and are part of a “more comprehensive set of changes that need to be made.”
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/channel/DeFi_Ethereum
🐴 Uniswap and Across propose new Ethereum token standard to tackle liquidity fragmentation
Uniswap Labs and cross-chain interoperability provider Across Protocol have proposed a new Ethereum token standard for cross-chain intents to address liquidity fragmentation challenges. The new standard is under Ethereum Request for Comment 7683 (ERC-7683) and aims to establish a unified framework for specifying cross-chain actions in intents-based systems. Intents are automated blockchain interactions based on the user’s desired outcome, excluding the need for specific knowledge.
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/channel/DeFi_Ethereum
📊 DeFi Yield Aggregator Lulo Hits Record TVL Fueled by PayPal’s Stablecoin
Lulo, a Solana-based yield aggregator, saw its total value locked (TVL) double since the beginning of August to reach a record $38.7 million. The yield aggregator launched at the beginning of the year and has continued to grow even during DeFi market downturns. During the last month alone, Lulo’s TVL has surged by over 120%, becoming the best performer among yield aggregators – a subsector led by Ether.fi Liquid, Beefy, and Yearn Finance.
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/channel/DeFi_Ethereum
📣 DeepBook Enhances DeFi Capabilities with Version 3 Launch
DeepBook has launched its latest version, Version 3, on the Sui Testnet, bringing significant improvements aimed at enhancing its utility for decentralized finance (DeFi) protocols, according to The Sui Blog. Among the notable advancements in DeepBook Version 3 are the substantial reduction in gas fees, dynamic trading fees, and a new capital-efficient order management system for market makers.
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/channel/DeFi_Ethereum
🏦 Coinbase cbBTC token may revolutionize Bitcoin DeFi adoption
Coinbase, the world’s second-largest cryptocurrency exchange, could significantly boost the adoption of Bitcoin-native decentralized finance (DeFi). The exchange has recently teased the development of a new Wrapped Bitcoin (BTC), called Coinbase BTC (cbBTC), creating widespread excitement among crypto investors.
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/channel/DeFi_Ethereum
⬜️ OKX Wallet Integrates Aurelius Finance, Enhancing DeFi Lending Options
OKX Wallet has now integrated Aurelius Finance, a sophisticated decentralized lending platform. Aurelius offers users a comprehensive dashboard for managing collateralized debt positions, monitoring system health parameters and participating in stability pools. This integration allows OKX Wallet users to directly access Aurelius Finance's lending and borrowing features, including opening positions with various collateral types, staking aUSD and earning from stability pools.
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/channel/DeFi_Ethereum
📊 DeFi liquidations hit yearly high above $400 million in past 24 hours amid market turbulence
On-chain liquidations across decentralized finance protocols on Ethereum have reached a new yearly high, with over $400 million in liquidated positions in the past 24 hours, according to data from Parsec Finance. This comes amid a substantial uptick in market volatility and a broad crypto market selloff. Earlier today, Bitcoin plunged to its lowest since February, dropping below $53,000, while ether hit a six-month low of about $2,300.
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/channel/DeFi_Ethereum
🔵 Aave Launches on ZKsync Era
Aave, the largest lending platform in DeFi with nearly $12 billion in total value locked (TVL), is now live on ZKsync Era, an Ethereum Layer 2 (L2) network powered by zero-knowledge technology. The move introduces Aave V3 on the L2 solution, which boasts over $850 million in TVL, and looks to bring liquidity and yield opportunities to ZKsync’s nascent DeFi ecosystem. Price feeds will be provided via Chainlink, ensuring accurate and consistent data across Aave’s multi-chain deployments.
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/channel/DeFi_Ethereum
JUST IN: 🇩🇪 German authorities seize 13 Bitcoin ATMs and nearly €25 million in cash in a crackdown on operators allegedly violating KYC/AML laws
🤝 @Cryptocurrency_Inside ✅
📣 DEXScreener is Earning Over $1 Million in Weekly Fees
DEXScreener, a popular chart and data aggregator for onchain tokens, is one of the top earners in all of DeFi, according to DeFiLlama. 0xngmi, the founder of DeFiLlama, posted on Aug 15 that the analytics site is now tracking DEXScreener metrics, and the site is making up to $250,000 per day by charging fees for teams to update their token’s branding and information on the site.
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/channel/DeFi_Ethereum
🇺🇸 Trump family’s DeFi project wants to ‘ensure US dollar dominance’
While not much is known about the Trump family’s crypto project — the latest statement from World Liberty Financial suggests it wants to spread the use of United States dollar-pegged stablecoins in decentralized finance. In a Sept. 4 statement to X, the yet-to-be-launched decentralized finance (DeFi) platform claimed one of its key goals was to drive the "mass adoption of stablecoins and decentralized finance."
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/channel/DeFi_Ethereum
🚨 DeFi Protocol Penpie Exploited for $27M of Crypto Assets; PNP Token Craters 40%
Decentralized finance (DeFi) protocol Penpie, built on top of tokenized yield platform Pendle, suffered an exploit on Wednesday, crypto observers reported. The alleged exploiter drained roughly $27 million of crypto assets including various types of staked ether (ETH), Ethena's sUSDE and wrapped USDC stablecoin from the protocol, blockchain data shows. Later, it converted the proceeds to ETH using predominantly Li.fi and forwarded to asset to a new address, according to Etherscan data.
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/channel/DeFi_Ethereum
🪙 Ethereum Still Holds the Lion’s Share of Defi TVL as Tron and Solana Rise
Currently, the total value locked (TVL) in decentralized finance (defi) stands at $82.2 billion, with Ethereum hosting a commanding 57.24% of that amount. Hot on its heels, Tron and Solana take the second and third spots for the largest TVLs today. Despite ethereum (ETH) facing challenges against bitcoin (BTC) and solana (SOL) throughout 2024, its network remains the reigning champion in the world of defi value.
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/channel/DeFi_Ethereum
📊 SOFA.org Hosts AMA on The Future of DeFi Settlement
SOFA.org, a decentralized and non-profit DAO developing a decentralized clearing protocol, was joined by Mr. John Cahill, COO of Galaxy Digital Asia, to discuss the project's long-term value-proposition as an industry-wide settlement system, and its secure suite of on-chain structure products. The panel was moderated by the Real Moonlight Show on Binance Live.
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/channel/DeFi_Ethereum
📣 Weje.com Launches Revolutionary DeFi Gaming Platform on Polygon (MATIC)
Weje.com, a pioneering force in the decentralized finance (DeFi) gaming industry, is proud to announce the launch of its innovative peer-to-peer gaming platform. Built on the Polygon (MATIC) network, Weje.com is set to transform the online gaming experience by leveraging the power of blockchain technology to offer secure, transparent, and efficient gameplay.
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/channel/DeFi_Ethereum
🔵 Aave To Onboard BUIDL Shares As Collateral For GHO
On Aug. 26, Aave Labs, the team behind Aave, the largest DeFi lending protocol, published a preliminary temperature check proposal advocating for the inclusion of shares in the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) to the collateral assets backing its stablecoin, GHO.
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/channel/DeFi_Ethereum
💰 Fordefi Unveils First Institutional-Grade MPC Wallet for DeFi on Sui
Fordefi’s comprehensive platform and Web3 gateway provide an enterprise grade solution enabling builders, traders, and operators to self-custody their private keys, seamlessly connect to thousands of decentralized applications (dApps) across any blockchain, and manage digital asset operations with granular policies and a unified interface.
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/channel/DeFi_Ethereum
🟢 Maker DeFi lending protocol rebrands to Sky ahead of USDS stablecoin launch
Maker protocol has officially rebranded to Sky and unveiled the name of its upgraded stablecoin and native governance token in an effort to make decentralized finance (DeFi) accessible to the masses. As part of its rebranding efforts, Maker, the longest-standing DeFi lending protocol, has rebranded the world’s largest decentralized stablecoin, Dai, into USDS.
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/channel/DeFi_Ethereum
🪙 Vitalik Buterin responds to criticism that Ethereum ‘doesn’t care’ about DeFi
The Ethereum co-founder Vitalik Buterin has spent some time responding to accusations over the weekend that he “doesn’t care” about decentralized finance. These viewpoints began to particularly populate crypto social media spaces over the past weekend as Kain Warwick, the inventor behind the concept of yield farming, made an appearance on a popular crypto online talk show on Aug. 23.
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/channel/DeFi_Ethereum
📊 DeFi Summer Is Making a Comeback, Steno Research Says
Decentralized finance (DeFi) summer is making a comeback, and while total value locked (TVL) in the crypto ecosystem is still well below its 2021 peak, it could climb to an all-time high as soon as the first half of next year, Steno Research said in a report on Friday. DeFi's imminent resurgence is linked to interest rates, particularly in the U.S., because the decentralized finance market is predominantly U.S. dollar-centric, the report said.
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/channel/DeFi_Ethereum
🔵 AAVE could rally 25% as DeFi token breaks out of nearly two-year long accumulation
AAVE, a Decentralized Finance (DeFi) token that ranks in the top 50 cryptocurrencies by market capitalization, has broken out of a nearly two-year long accumulation range after rallying over 25% in the last seven days. Despite the recent price increase, an on-chain analysis from iCryptoAI shows that AAVE holdings from whale wallets have continued to increase in the last 24 hours, suggesting buying pressure persists and making it more likely that the coin extends gains.
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/channel/DeFi_Ethereum
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📣 DeFi protocol YieldNest launches new liquid restaking token
Decentralized finance (DeFi) protocol YieldNest is launching a new liquid staking derivative (LSD) called ynLSDe designed to capture restaking yield from EigenLayer, according to an Aug. 21 announcement. The token “will allow the holders of Ether staked with Lido, FRAX, Origin Protocol, or Mantle to earn additional yield… through restaking,” YieldNest said. Lido, FRAX, Origin, and Mantle are decentralized Ethereum staking platforms, each of which issues its own LSD.
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/channel/DeFi_Ethereum
🐴 Prometheum adds 'digital asset securities' UNI and ARB to its custodial ranks
Digital asset firm Prometheum's custodial arm said it plans to add two new "digital asset securities" to its ranks, Uniswap and Arbitrum, soon after soft launching its ether custody services. That means institutional and corporate clients will be able to custody ether, UNI and ARB through Prometheum Capital, according to a statement released by the firm on Wednesday. CoinDesk earlier reported the news.
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/channel/DeFi_Ethereum
📣 INFINIT Opening DApp Creation to All with First-Ever DeFi Abstraction Layer
INFINIT, the first-of-its-kind DeFi abstraction layer, today announces that it will soon open dApp creation to all, allowing anyone to build and customize DeFi applications in a matter of minutes. INFINIT is a DeFi infrastructure that abstracts away complexities to launch and scale decentralized finance applications across any integrated chain. Like pump.fun before it, INFINIT enables anyone to enter the arena and build their own financial dApps.
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/channel/DeFi_Ethereum