YAM Finance, the latest yield farming sensation, witnessed a bug in the rebase mechanism. However, the developers of the protocol assure users that funds are unaffected. Bug Found in Unaudited DeFi Project Developers at new DeFi sensation have found a bug in the protocol’s rebase contract. The team announced the news via Twitter hours ago....Read More
You may have heard of Uniswap has been a frequently debated topic among the DeFi space. Originally, Hayden Adams created the Uniswap protocol as he was inspired by Vitalik Buterin’s post about the market maker equation X * Y = K. Hayden took a practical approach to the equation and created Uniswap, a protocol for...Read More
Ethereum gas fees hit a level seen 5 times in the last 4 years; why? The average gas fees on Ethereum blockchain has hit a level not seen in a long time. The average gas fees, at the time of writing, was just below 200. However, as per ETH gas station, for fast transaction confirmations,...Read More
The big boys on crypto markets such as Bitcoin, Ethereum, and XRP may be slumping today, but DeFi tokens are still on fire. Five of the top six performing tokens in the top one hundred are related to DeFi, and there is a good reason for that. Enter the Yam A new yield farming opportunity...Read More
The decentralized exchange aggregator sourcing liquidity from multiple platforms 1inch has raised nearly $3 million in a funding round led by Binance Labs. Other prominent participants in the series include Galaxy Digital, Greenfield One, Libertus Capital, Dragonfly Capital, FTX, LAUNCHub Ventures, and Divergence Ventures. 1inch Raised $2.8M According to a press release shared with CryptoPotato,...Read More
Anyone that has used Ethereum for anything recently will have noticed a surge in gas fees. The DeFi boom of 2020 is largely responsible for this as demands on the creaking network increase. Ethereum and ERC-20 tokens make up the foundations of DeFi, and it has become painfully evident that the network cannot take the...Read More
Following what appears to be the actions of a single whale, the price of ETH skyrocketed to just under $450 according to the Uniswap v2 ETH/USDC price ticker in late trading on August 10. This represented an increase upwards of 15%. The trade involved a series of swaps totaling almost $18 million in USDT to...Read More
The DeFi boom continues with full force as the total value locked approaches $5 billion. Interestingly enough, a relatively young cryptocurrency has turned into the poster child of yield farming – YFI, the governance token of yearn.finance. Launched just a few weeks ago, YFI is currently the second-most expensive token on the market, valued upwards...Read More
Demand for stablecoins has surged this year, mainly on the back of the DeFi sector, which has seen countless crypto earning opportunities arise. MakerDAO’s stablecoin, Dai, has just reached a milestone $400 million supply following the minting of a further $10 million. This 10 million DAI mint brings the total DAI supply to over 400...Read More
DeFi ecosystem has come a long way over the past few months. From a Total Value Locked (TVL) figure of $539.8 million right after the market crash in March, it has recovered extraordinarily well. At the time of writing, the same figures had risen to as high as $4.58 billion. Leaving ETH behind Interestingly, while...Read More
One of the most widely used decentralized exchange Uniswap has raised $11 million in a Series A funding round led by Andreessen Horowitz (a16z). Uniswap’s market share has been growing rapidly in the past several months, and the team behind it indicated that they will utilize the funds for the third version of the platform....Read More
Ampleforth (AMPL) is one of the projects in the decentralized finance (DeFi) space that took the community by a storm, despite being on the market for over a year. Over the past couple of months, AMPL managed to become arguably one of the most widely-discussed protocols, largely because of its quick exponential growth. Now, however,...Read More
A few hours ago, the Opyn DeFi platform discovered a vulnerability in one of its ETH Put contracts, which enabled an attacker to make off with $371,000 worth of crypto assets. The Ethereum based decentralized insurance platform allows users to protect themselves from risks they may face in decentralized finance markets. It operates with an...Read More
The ongoing decentralized finance (DeFi) boom has pushed the popular cryptocurrency exchange Huobi to establish a DeFi-oriented platform. Dubbed Huobi DeFi Labs, it aims to enhance the company’s operations in the sector and will be led by a Wall Street veteran – Sharlyn Wu. Huobi DeFi Labs Established According to the announcement from earlier today,...Read More
If 2017 was the year where initial coin offerings (ICOs) went parabolic, then 2020 is perhaps the year where products within the field of decentralized finance (DeFi) are all the rage. With the emergence of numerous propositions, such as flash loans, where people can borrow money without having to post collateral as long as they...Read More
The veteran US-based cryptocurrency exchange Coinbase is looking into adding 19 new digital assets onto its platform. Interestingly, the majority of the coins are representatives of the ongoing DeFi trend. Coinbase Considers 19 New Coins The largest digital asset exchange based in the US announced yesterday that it’s currently evaluating 19 new additions to its...Read More
This week was nothing short of exciting in the cryptocurrency markets. Bitcoin definitely woke up from its slumber and made a few aggressive moves upwards. Altcoins felt the pain as most of them decreased in value as the king of crypto took its toll. In seven short days, Bitcoin went from around $9,600 to $11,400,...Read More
On its 5th anniversary, Ethereum (ETH) is presenting its holders with a solid gift. Just moments ago, the cryptocurrency surged by more than 5%, thus marking a fresh high for the past year. ETH Gains 45% in 10 Days The second-largest cryptocurrency by means of market capitalization surge over 5% less than an hour ago....Read More
Ampleforth (AMPL), is one of the cryptocurrencies that lost the most over the past three days. It plunged by over 75% to reach a low at around $0.65 on some exchanges, putting holders in negative rebase territory. AMPL Plunges 75% in 3 Days Ampleforth is undoubtedly one of the most discussed and trending projects in...Read More
It is 2020, but for some reason, it feels like 2017 again. Why? It’s the YFI (no, not WiFi). Yearn Finance’s YFI token doesn’t seem to slow down. At all. The ‘absolutely no-value’ token has actually achieved a $4000 valuation and has become the second-highly priced crypto asset after Bitcoin. YFI Becomes the Second Highest...Read More
Messari crypto researcher, Ryan Watkins, has recently delved into the market values of the decentralized finance sector, comparing it to some of the other players in the crypto industry. He concluded that DeFi is still a minnow despite its massive growth in popularity this year. The entirety of what we call DeFi is worth less...Read More
Alternative cryptocurrencies felt today’s pressure as Bitcoin finally poked its head. The major cryptocurrency is on the rise today, and as it’s almost always the case, this took its toll on altcoins. Bitcoin managed to regain almost 1.5% of its market dominance over the past 24 hours alone, leaving other cryptocurrencies in despair. Altcoins Down...Read More
It’s been quite a year for Ethereum as on-chain activity on the network continues to spike, comparable to what it was during the bull run of 2017. Tx Fee Surged 688% According to new research on Decentralized Finance (DeFi) by Xangle, a global crypto-asset disclosure platform, the transaction volume and fees on the Ethereum network...Read More
The space of Decentralized Finance (DeFi) is undoubtedly where all eyes are right now. The value locked in lending protocol continues to surge, and it shows absolutely no signs of slowing down. Every day is riddled with exciting events. Today, one of the recently launched DeFi tokens, YFI, brings returns upwards of 35,000% to those...Read More
Bitcoin maintains its position above the $9,500 level, while some altcoins mark impressive gains. Rumors from Binance CEO CZ about an upcoming DeFi involvement send BNB upwards. At the same time, the US stock market indexes decrease in value a bit while gold broke above the coveted level of $1,900 per ounce. Gains In The...Read More
The Syscoin Foundation announced that the Syscoin Ethereum Bridge would be used and explored by the stablecoin of the world’s largest exchange, Binance (BUSD). Per the agreement, BUSD will be available on Syscoin’s network. The stablecoin, issued by Binance and Paxos, pegged 1:1 with the US Dollar, is approved and regulated by the New York...Read More
AVA Labs, the team behind Avalanche, an open-source platform for launching decentralized applications in a highly-scalable ecosystem, recently raised $42M in a 4.5 hour-long token sale last Wednesday. The sale marks one of the largest ICO’s out of the U.S. since 2017. Avalanche’s Recent Key Hires AVA Labs, founded by Cornell Ph.D.’s and led by...Read More
Decentralized finance (DeFi) is all the rage in 2020 as projects in the field continue to explode. The total value locked in lending protocols has skyrocketed throughout the year. And while there are plenty of exciting projects, one seems to stand out with its unique approach. The project in question is Ampleforth (AMPL). It addresses...Read More
Recent research has indicated that Ethereum has ‘blown past Bitcoin’ in terms of daily settlement value, which is a testament to how much economic activity has increased on the network. Ethereum Beats Bitcoin on Economic Activity Messari researcher, Ryan Watkins, recently posted his findings stating that a quarter ago, Ethereum had just about reached parity...Read More
While Bitcoin remains relatively calm in its comfort price territory, lots of alternative coins have been fluctuating significantly. Decentralized finance (DeFi) and some prominent developments from several projects initiated serious price increases for various altcoins, and given the decrease in Bitcoin’s dominance, a new altcoin season booms. Chainlink (LINK) continues to impress with its performance,...Read More
