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🪙 Restaking Emerges As Ethereum’s Second Largest DeFi Sector

The study highlights EigenLayer’s restaking protocol as an important component for new services and middleware on the Ethereum network, potentially offering significant ETH rewards for validators in the future. Ethereum’s proof-of-stake (PoS) consensus mechanism is the largest economic security fund in the crypto space, with nearly $112 billion. While validators securing the network traditionally earned base rewards on locked-up ETH, the introduction of liquid staked tokens (LSTs) paved the way for participants to engage with DeFi by trading or leveraging their staked assets.

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⚡️ BTCFi innovation to match Ethereum DeFi in the future — MerlinSwap co-founder

Bitcoin decentralized finance (DeFi), or BTCFi, is a recent paradigm seeking to bring DeFi capabilities to the world’s first blockchain network. Provided that its current adoption rate continues, BTCFi could match the innovation of Ethereum-based DeFi in the future. Showcasing investor demand for Bitcoin-native DeFi applications, decentralized exchange (DEX) MerlinSwap raised 6,599 Bitcoin worth $480 million during its initial DEX offering (IDO) on April 5. The IDO attracted over 52,000 participants.

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📣 Picasso Network Integrates IBC with Ethereum for Enhanced DeFi

Picasso Network is now entitled to the Inter-Blockchain Communication (IBC) protocol with Ethereum. It facilitates sending assets and data across Ethereum as well as all Cosmos network nodes, considerably increasing communication between separate blockchains. “By connecting Ethereum with Cosmos through IBC and designating Osmosis as the primary liquidity hub, we are setting the stage for a new chapter in DeFi,”Composable Foundation Executive Director claims,” Henry Love stated.

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📊 DeFi Protocol Cega's New Options Product Marries Gold, Ether to Offer Up to 83% Yield

Decentralized finance (DeFi) projects are continuing to develop structured products, which offer decent returns, market exposure and protection from losses and were previously available only to institutional investors in traditional markets. Last week, derivatives protocol Cega unveiled Gold Rush, a basket options strategy involving the Ethereum blockchain's ether (ETH) token and Tether's gold-backed {{XAUT}} as underlying assets alongside a safety component that protects users' capital from a 30% drop in the assets' prices.

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📣 LendFi Revolutionizes DeFi Landscape With Comprehensive App Launch

LendFi announces the launch of its innovative app, now available for download on both the iOS Store and Google PlayStore. This groundbreaking app introduces a suite of utility features designed to enhance user experience and financial empowerment. Among these are staking, peer-to-peer (P2P) lending, cryptocurrency swaps, integration with GameFi and non-fungible tokens (NFTs), and the pioneering use of artificial intelligence (AI).

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🏦 Coinbase Wallet triumph over SEC allegations is a ‘giant win’ for DeFi

A U.S. judge has determined Coinbase’s self-custody crypto wallet doesn’t make it a broker, which lawyers say is a “significant setback” for the SEC and a boon for DeFi. U.S. District Judge Katherine Failla on March 27 denied Coinbase’s bid to dismiss a Securities and Exchange Commission’s lawsuit, finding the SEC “sufficiently pleaded” Coinbase was unlicensed and its crypto staking offering was unregistered securities.

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📣 Wellfield Announces Strategic DeFi Layer 2 Initiatives on Optimism

Wellfield Technologies Inc. (TSXV: WFLD) (FSE: K8D) (the "Company" or "Wellfield"), is excited to announce significant developments launching key initiatives exclusively within the Optimism ecosystem, a leading Ethereum Layer 2 (L2) solution. These initiatives, which have been in active development for some time, include the imminent rollout of Wellfield's tokenized gold ecosystem, a strategic upgrade of the Tradewind Ledger, Coinmama's self-custody wallet, and Wellfield's decentralized finance (DeFi) protocols.

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💰 SushiSwap governance proposal suggests shifting DAO treasury assets to new Sushi Labs vault

SushiSwap governance proposal suggests transferring assets from the DAO-controlled treasury to a new one controlled by Sushi Labs, while also ensuring that all future airdrops are directed to the Sushi Labs vault. "We request that Sushi DAO award a grant of 25 million Sushi tokens to Sushi Labs, including assets from the Arbitrum airdrop, business development, and partner grants, Kanpai 2.0, Sushi 2.0, rewards, stablecoins, and 'Sushi House' funds," the proposal by SushiSwap developer Jiro said.

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🇪🇺 Upcoming DeFi rules in Europe could ban non-decentralized protocols

Decentralized finance protocols in Europe could soon be under new regulations as the European Commission evaluates the space. According to the Markets in Crypto-Assets (MiCA) — the regulatory framework that governs digital assets within the region — the European Commission is required to prepare a report by Dec. 30, 2024, evaluating the decentralized finance market and the feasibility of specific regulations for the sector.

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📣 DeFi developers behind crypto exchange Phoenix close $20 million Series A round

Ellipsis Labs today announced $20 million in Series A funding, led by Paradigm with participation from Electric Capital. The company’s debut product, a decentralized exchange called Phoenix, went live in February 2023, with its public-facing user interface launching last August. The funding will accelerate its efforts to “create a new financial ecosystem that offers competitive financial products on top of high-throughput blockchains,” the company said in a statement.

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⬜️ OKX Wallet Now Integrated with DeFi Platform nftperp

OKX Wallet is now integrated with nftperp, an open-source DeFi platform that enables users to trade on the price of NFT collections. This strategic partnership will allow eligible OKX Wallet users to trade on the value of NFTs using perpetual futures contracts, all in a seamless, secure, and self-custodial manner through the OKX Wallet web extension. This integration is in line with OKX Wallet's commitment to providing its users with innovative solutions that enhance their Web3 experience.

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📊 DeFi Protocol Ethena Labs’ ENA Token Goes Live

Ethena Labs, a decentralized finance (DeFi) platform renowned for its $1.3 billion yield-generating USDe token, has initiated the distribution process for its latest governance token, ENA. In a recent announcement on X, Ethena extended an invitation to USDe holders to claim their portion of the 750 million ENA tokens allocated for airdrop, constituting 5% of the total token supply. These tokens are slated to be listed on centralized exchanges.

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📣 DeFi hub Chainage seeks tokenholder approval for $13M capital raise

Decentralized finance service provider Chainage, with around $100 million in total value locked, is seeking to raise $13 million for protocol expansion, contingent on tokenholders’ approval within its native decentralized autonomous organization (DAO). According to the April 1 snapshot proposal, the $13 million raise, led by an unknown venture capital firm, will result in the issuance of 50 million additional XCHNG protocol tokens, representing approximately 10% of Chainage’s circulating supply.

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📊 Defi Platforms Lose More Than $336 Million in Digital Funds in Q1 of 2024, Study Finds

In the first quarter of 2024, more than $336 million in digital assets were stolen from decentralized finance platforms across 61 incidents of hacking and fraud. During this period, criminals made off with digital assets valued at $144.48 million in two major hacking incidents. In contrast, centralized finance platforms reported no incidents of hacking or fraud in the first three months of the year.

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🪙 Uniswap DAO prepares to expand $5bn treasury beyond UNI

Uniswap DAO, crypto’s third-richest protocol with a $5 billion treasury, has been content to keep its reserves denominated solely in its native UNI token. But that may be changing. With Uniswap exploring a new revenue-sharing model that will include token holders, the DAO, which administers the decentralised exchange, is seeking ways to extend its runway without depleting the the project’s reserves.

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🔵 Arbitrum community argues for memecoins over DeFi in $3.3 million DAO fund proposal

The Arbitrum Decentralized Autonomous Organization (DAO) is contemplating a $3.3 million memecoin fund to foster a memecoin-friendly ecosystem within the Ethereum layer-2 blockchain network, according to a March 24 proposal on the platform’s discourse forum. The author wrote the proposal in response to learning about new DeFi incentives, which they believe are throwing “more money at protocols so they can be farmed by whales/teams.”

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📣 DeFi Farming Game 'Crypto Valleys' Is Giving Players Juicy YIELD on Ethereum L2 Blast

Gaming activity is bubbling up on buzzy new Ethereum scaler Blast, and while one game has already fallen victim to an exploit on the nascent network, another is yielding rave reviews from players while driving Blast’s most-traded token. Crypto Valleys is the game in question, and it initially appears to tread upon similar ground as Pixels, the popular farming game on competing scaler Ronin.

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📊 DeFi Project Targets Multibillion-Dollar Market with Groundbreaking DeFi Debit Card Launch

DeFi project develops a globally-supported debit card for daily purchases and financial transactions. DeFi offers anonymity and worldwide accessibility but falls short in user experience and broader application in daily life. Xuirin Finance introduces a DeFi debit card to connect decentralized finance with everyday spending habits. Its potential for innovation is frequently obscured by its complexity, making it an area primarily for those deeply involved in the crypto space.

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