Tag Archives: DeFi News

After launching on August 19th, the algorithmic liquidity protocol BENQI has already reached $1B in TVL. Meanwhile, the price of Avalanche’s native cryptocurrency has been soaring. Big Support for BENQI BENQI is collaborating with AVAX in a joint liquidity mining program, in which $3M worth of AVAX will be provided as incentives to users of the former’s protocol. Any user borrowing or exchanging ETH, wBTC, LINK, USDT, DAI, or AVAX will be eligible for these rewards. More...

The team behind the Binance Smart Chain has decided to launch another season of the Most Valuable Builder program. It aims to accelerate the developments in several sectors, including DeFi and GamingFi, and ten projects will have the chance to receive funding. BSC MVB Program Season Three Ever since the launch of the Binance Smart Chain, the project has strived to help emerging protocols receive support and funding through its Most Valuable Builder program. A recent press...

PolyNetwork, an interoperability protocol enabling atomic-cross chain transactions between multiple major blockchains, was just exploited to steal $600 million worth of investor’s crypto on Polygon, Binance Smart chain, and Ethereum What Exactly Happened? As reported by CryptoPotato earlier today, PolyNetwork announced that they had been attacked at 8:38 am EST. They immediately listed the addresses to which the anonymous hacker had transferred their funds on the ETH, BSC,...

With the increasing interest in blockchain gaming, the popular blockchain platform, TRON, has recently announced the launch of a new $300 million fund dedicated to supporting GameFi projects. TRON Launches $300M Fund to Support Game Developers In a press release shared with CryptoPotato, TRON noted that the fund dubbed TRON Arcade was launched in collaboration with the leading NFT project, APENFT, and the DeFi project, WINKLink. TRON Arcade is geared toward supporting...

Sweet, an enterprise NFT solutions provider, has recently partnered with the American professional basketball team, New York Knickerbockers, popularly known as the New York Knicks, to create a limited edition NFT pack. According to the official announcement, the New York Knicks will be commemorating the 2020–2021 basketball season with a collection of 5 Limited Edition 3D Knicks NFT tickets. Embedded in the non-fungible tokens are selected rare moments from Game 1 of the NBA...

Saber, a cross-chain stablecoin and wrapped tokens exchange built on the Solana protocol, recently announced that it had raised $7.7 million in a just-concluded seed funding round led by Race Capital.  Saber Secures Funding From Industry Investors  Other venture capital firms that participated in the equity funding round include Jump Capital, Multicoin Capital, Chamath Palihapitiya’s Social Capital, and Solana Foundation, among others.  The $7.7 million investment round also...

Ampleforth – the algorithmic stablecoin with elastic supply – has been introduced in Aave’s lending ecosystem. Ampleforth (AMPL) Now Included in Aave While most stablecoins have a stable peg, Ampleforth (AMPL) is doing things differently. It’s designed in a way where the algorithm chases a target price and readjusts the overall supply. If the price is above the target, the total supply would increase and vice-versa: if the current price is below the target, the supply will...

Celer Network, the layer 2 scaling platform, has announced that its multi-chain network is live on the mainnet. Dubbed cBridge v1.0, it will enable users to transfer assets across several blockchain networks, including Ethereum, Binance Smart Chain, Polygon, and Arbitrum. cBridge v1.0 Goes Live on Mainnet The blockchain-based project announced its latest milestone in a press release shared with CryptoPotato. The statement informed that cBridge v1.0 aims to “tackle a few of...

Polygon, an easy-to-use platform for Ethereum scaling and infrastructure development, has revealed that it is launching a new NFT-focused arm, dubbed Polygon Studios. Polygon Launches Gaming and NFT Arm In an official press release shared with CryptoPotato, Polygon noted that the new division will be focused on growing the global Blockchain Gaming and NFT industry, as well as bridging the gap between Web 2 and Web 3 gaming. The project stated that the gaming community on its...

Spores Network, a new creator-centric NFT and DeFi platform, has announced that it raised about $2.3 million from investors in a just-completed funding round. Cardano’s First Full-Stack DeFi Platform In a press release shared with CryptoPotato, Spores noted that it is stepping up its game to become the first full-stack NFT and DeFi platform to integrate with the Cardano blockchain. Spores pointed out that to further increase the reach of the rapidly growing NFT market to...