Tag Archives: DeFi News

Open source and decentralized protocol ssv.network has received $10 million in funding from its DAO partners to ramp up the decentralized staking infrastructure for Ethereum 2.0 ahead of the upcoming Merge. ssv.network Receives $10M ssv.network said  in a press release that it received the funds through its DAO Partner Program, an initiative the project launched in October 2021 with an objective of expanding its “community and strengthening DAO partnerships.” So far, the...

The 1inch Network launched a new investment tool called 1inch Earn, in hopes of incentivizing liquidity providers. The protocol asserted in a press release shared with CryptoPotato that the new feature will provide more efficient use of capital compared to AMM pools. How Does 1inch Earn Liquidity Pool Work? A set of liquidity pools optimized for stablecoins, 1inch Earn’s operating model is similar to Uniswap V3 range orders. “Earnings come from fees on swap trades in the...

Following its successful launch on the Polkadot Mainnet this week, Acala, an Ethereum-compatible DeFi protocol for scaling dApps, has revealed what lies ahead for the project. Acala’s Core Products Coming Soon The Acala team noted in an official press release seen by CryptoPotato that it intends to begin launching all of its core products soon. These include decentralized exchange (DEX) Acala Swap, upgraded Ethereum Virtual Machine (EVM+), decentralized stablecoin, aUSD, and...

2021 was the year when cryptocurrencies and blockchain technology witnessed massive growth, both in market capital and infrastructure development. One thing that caught the attention of the crypto community and the mainstream audience was the rise of non-fungible tokens (NFT). In case you’re unfamiliar with what these are, please take a look at our video guide on NFTs, or its written version. They saw exponential growth in 2021, as the digital space was being reshaped by the...

Privacy-focused startup Nym Technologies has developed the first block for its Nym mainnet and has started onboarding validators ahead of its mainnet launch. Onboarding Network Validators In a press release shared with CryptoPotato on Wednesday, Nym noted that it has welcomed some top firms as its network validators, including the telecommunications giant Swisscom, Dokia Capital, Chorus One, Nodes.Guru and a few others from the community like Commodum. The validators will...

The decentralized finance protocol OlympusDAO collaborated with Balancer to set up OHM as a liquid asset within the latter’s network. CopperLaunch and PrimeDAO will facilitate the front end of the Liquidity Bootstrapping Pools (LBPs) by adding OHM as a collateral token. The Specifics of The Project According to a document seen by CryptoPotato, the decentralized reserve currency protocol – OlympusDAO – will initially deploy $50 million of liquidity to Balancer Protocol. The...

A recent report by Electric Capital Developer shows that more developers are getting involved in the decentralized technology space. The 2021 paper shows that $100 billion worth of smart contracts has been locked in Web.3.0 project platforms. $100 Billion Controlled by 1,000 Developers DeFi projects which rarely record remarkable success are also among the focus of the study. Among the most intriguing aspect of the data leads to some centralization, as the majority of the...

According to a Friday PR, Gaming platform Overwolf is making an investment in SYN CITY, a blockchain-based Mafia Metaverse gaming platform, which is formally opening on January 8. With over 95,000 creators, Overwolf is a significant player in user-generated gaming content. SYN CITY is a brand new platform built on blockchain and intends to offer a gaming experience in the metaverse. The latter promises to bring gameplays on mafia and crime syndicate themes. Built by...

The world of NFTs continues to boom as more and more people seem attracted to the idea of scarce digital art. However, while some projects are surging in value, others are on a rather downward slope. Data reveals that over the past three months, the floor price, which is the lowest price for a non-fungible token (NFT) from a certain collection, for the Board Ape Yacht Club NFTs increased by a considerable 35%. As CryptoPotato reported earlier in December, the floor price for...

MetaMask is one of the most popular non-custodial wallet applications with millions of active users. Now, it also teases that in-app non-fungible tokens will also come to life soon. CryptoPotato reported earlier in November that the popular non-custodial wallet MetaMask has reached a whopping userbase upwards of 21 million. MetaMask is in the middle of the ongoing DeFi boom as it’s the most popular wallet. Now, the team also teased about upcoming NFTs on the MetaMask browser...