A subset of the bitcoin and blockchain industry called “decentralized finance,” or “DeFi,” is devoted to offering a distributed version of traditional financial opportunities. In the modern world, financial institutions give their clients access to opportunities like loans and cash storage. These services are, however, controlled by centralized organizations.
DeFi systems, which utilize distributed ledger technology, or DLT, provide many of the same benefits, but they are managed by numerous players who comply with regulations imposed by smart contracts. DeFi solutions frequently allow customers more freedom regarding how they can store and manage their assets. In addition, DEXs, as opposed to trading on centralized digital asset platforms, further decentralize the trading of digital assets.
According to preliminary assessments, the anticipated losses are now in excess of $42 million, with assets worth $100 million at stake. On Sunday, July 30, Curve Finance, the Ethereum-based second-biggest DEX after Uniswap, was the victim of a massive exploit. The exploit often occurred as a result of a weakness in its programming language Vyper. A total … Read more
After successfully launching the Solana ecosystem a year ago, authentic 90’s gaming and collectibles firm POG Digital NFTs is getting ready to launch on the Ethereum blockchain, the largest DeFi ecosystem. POG Digital claims (1) that the minting of NFTs on the Ethereum platform will begin on April 6 with a quantity of 4,444 units. … Read more
The decentralized KuCoin Wallet is transitioning from its previous state as a straightforward Web 3.0 wallet to one that is capable of operating on a social finance (SocialFi) scale. The news regarding the rebranding was made on Monday, and it states that as of right now, KuCoin Wallet will be known as Halo Wallet. This … Read more
The internal leadership of the decentralized financial (DeFi) analytics firm DefiLlama is at odds with the direction the platform will go in the future. While some DefiLlama staff and investors are in favor of releasing a coin that will be known as LLAMA, others are opposed to the concept. Because of this, any plan to … Read more
The industry for decentralized finance (DeFi) was shaken up by yet another significant attack during the last week of March. The hack on the DeFi protocol Euler Financial, which resulted in the loss of an enormous $196 million, is now the largest DeFi hack that has occurred in 2023. When investigating the specifics of the … Read more
The staff of the decentralized economic analytics tool, DefiLlama, are now engaged in a dispute. An employee who only identified themselves as 0xngmi stated that the founders of the company were going to issue a LLAMA token without even requesting employee endorsement for the initiative. 0xngmi and a few other developers have distanced themselves from … Read more
Collective Finance, a decentralized finance (DeFi) platform, has revealed its intentions to begin the public sale of its own native currency, denoted by the symbol $CLF, and developed on the Binance Smart Chain (BSC) network. The public token sale can be accessible with a 10% discount, as stated in a press release (1). This sets … Read more
As the decentralized lending protocol, Euler Finance attempts to recover from Monday’s $196 million hack, and it is leaving no stone left in its investigation. For the past two days, the Ethereum-based noncustodial lender has communicated with the hacker via several on-chain messages to negotiate a settlement with them. The conversations, on the other hand, … Read more
According to recent reports, the US cryptocurrency exchange Coinbase Global Inc is taking steps toward integrating the decentralized finance apps Aave and Uniswap into the Coinbase L2 Network Base. A person intimately aware of the circumstance was cited as the source of information in a report (1) by CoinDesk as having divulged the plans. … Read more
Hacking is one of the most pervasive threats to the growth and acceptance of cryptocurrency. Over the years, the sector has incurred (1) substantial losses through many vulnerabilities in crypto blockchain systems & related platforms. While there are many varieties of cyberattacks, zero-day flaws have risen to prominence as a preferred method of attack. The … Read more