Tag Archives: DeFi News

Web3 omni-chain interoperability platform Analog has achieved a funding milestone, raising $16 million to advance its data accessibility and cross-chain communication plans. According to a press release seen by CryptoPotato, Analog intends to become a one-stop shop for blockchain interoperability in the web3 space. Analog Raises $16M to Further Operations The funding round involved participation from several crypto projects, venture capital firms, and angel investors,...

Friend.tech has been a major catalyst behind Coinbase’s layer 2 network – Base’s – initial explosion. The decentralized social network, however, experienced a significant decline since September with several metrics hovering near all-time lows. According to the latest data compiled by Dune Analytics, the number of new users on Friend.tech was recorded to be 682 as of November 2nd as compared to its peak of over 70,037 on October 15th. Friend.tech created a buzz with its beta...

Movement Labs, a community-driven technology company, has completed its pre-seed fundraising round and the launch of a tool from the Movement software development kit (SDK) on the Avalanche blockchain. According to a press release sent to CryptoPotato, Movement Labs raised $3.4 million through the pre-seed round to enable the advancement and adoption of Move, a smart contract development language with safeguards that protect against attack vectors like reentrancy and DoS....

The Web3 startup accelerator that focuses on Decentralized Finance (DeFi) and blockchain games – Cronos Labs – said the recruitment phase of the Cronos Accelerator Program started on September 4. The entity has previously teamed up with numerous companies, including Google Cloud, Amazon Web Services (AWS), and PeckShield, to support the scheme’s launch. The price of the native token of the ecosystem – CRO – briefly spiked by around 5% after news broke out before quickly...

Ramp Network – a fintech startup that offers payment infrastructure to connect crypto and traditional finance – added support to the Ethereum Layer 2 chain Base.  The integration will aid third-party developers and enable clients to convert dozens of fiat currencies into ETH and USDC. ‘Exciting Times Ahead’ According to a document seen by CryptoPotato, Ramp Network has dived even further into the world of crypto by integrating the Coinbase-developed Layer 2 network – Base....

It may not seem like it today, with crypto markets tanking, but DeFi assets have been steadily recovering over the past month, according to Glassnode. On July 31, on-chain analytics platform Glassnode published a report on the state of DeFi tokens amid this year’s regulatory issues. “Regulatory conditions in 2023 have been a tug-of-war between positive and negative news, with altcoins and DeFi tokens being the most heavily impacted,” it stated. Regulatory conditions in 2023...

A security outfit led by ethical hackers who specialize in security audits claimed to be offered a $500 bounty by DxSale Network, a decentralized token launchpad, after informing the platform of a breach that could cost it over $5 million. The reward is one of the lowest ever offered to a white hat hacker. $500 Reward for Saving $5 million Decurity, in a recent blog post, revealed that one of its researchers on June 28, 2023, discovered a bug in an unverified smart contract...

Decentralized finance (DeFi) protocol Struct Finance recorded over 129% gains in its total value locked (TVL) over the past week, according to data from DeFi TVL aggregator DeFiLlama. Struct Finance’s TVL more than doubled between July 11 and July 18 from $350,820 to $800,000, and at the time of writing, the TVL was at $806,314. When measured in Avalanche’s native token AVAX, the TVL has soared from 25,800 AVAX to 57,553 AVAX. Struct Finance Gains Over 100% in TVL In the past...

Struct Finance – a Decentralized Finance (DeFi) platform that allows customers to engage with tailored structured monetary products linked to cryptocurrencies – announced the mainnet launch of its tranching mechanism and innovative Interest Rate Vaults. The initiative enables users to invest in products according to risk tolerance, providing predictable returns.  Reaching Investors With ‘All Risk Appetites’ According to a document seen by CryptoPotato, Struct Finance’s new...

In an attempt to improve user experience and introduce major lifestyle upgrades, RBX network is launching a suite of on-chain security features called RBX Reserve Accounts. The push comes as part of its most recent Spartan Wallet Update. It’s aimed at providing users with on-chain recovery, as well as callback features, in a bid to take self-sovereignty and self-custody to new heights. According to the press release shared with CryptoPotato, users will be able to enjoy the...