Tag Archives: DeFi News

Institutional-grade lending protocol for decentralized finance (DeFi), Parallel Finance, has won the fourth Polkadot parachain auction. Over $300 Million Contributed The press release shared with CryptoPotato informed that the protocol saw support from over 30,000 contributors who provided a total of 10.75 million DOT, worth a whopping $306 million, during the auction. According to the team, the figure makes Parallel Finance the third project on the Polkadot parachain auction...

MonkeyBall, a decentralized play-to-earn gaming platform built on Solana, announced today that it had raised funds from several high-profile investors in a recently completed funding round. MonkeyBall Receives Fresh Capital In an official press release shared with CryptoPotato on Monday, MonkeyBall noted that it has managed to increase its list of backers, indicating that it has landed investors with a solid reputation in its first investment round. The gaming platform is a...

Leading South Korean blockchain company Hashed has announced that it has raised a $200 million investment fund. Hashed Venture Fund II Per a press release shared with CryptoPotato, the $200 million fund dubbed Hashed Venture Fund II will be geared toward the growth and development of Web3, the decentralized internet. The new fund, according to the project, will be investing in companies that are dedicated to revolutionizing the internet. “As we take our second step in...

Bancor Protocol, a decentralized staking platform that allows investors to earn with single-token exposure and full protection from impermanent loss, has released snippets of its highly-anticipated third version. In an official press release shared with CryptoPotato, the project noted that the new version, dubbed “Bancor 3,” will introduce several new features geared toward increasing trading volumes and allowing users to earn their favorite tokens seamlessly. Features of...

Blockchain monitoring and workflow automation platform PARSIQ has recently completed the integration of the Polygon network into its ecosystem. PARSIQ Integrates Polygon According to a Monday press release shared with CryptoPotato, investors, traders, and development teams can now access several Polygon blockchain data in real-time via the PARSIQ platform, acquire immediate feedback, and explore various monitoring solutions concepts. PARSIQ employs several cutting-edge...

The Federal Byzantine Agreement-based (FBA) network, Flare, recently partnered with Rival to become its preferred NFT, Utility, and DAO token platform for Rival’s NFT marketplace. Flare and Rival’s Partnership Rival is an enterprise solution that integrates gaming, esports, and now NFTs, into a company’s fan-engagement strategy. Some of these entities are the Seattle Seahawks from the NFL and the Arizona Coyotes from the NHL. Using Flare, fans will be able to trade and engage...

Several gaming and technology leaders have gathered to form Game7 – an upcoming blockchain ecosystem acceleration decentralized autonomous organization (DAO) with a $500 million budget. The DAO seeks to intersect the $180 billion gaming industry with blockchain technology. Accelerating Blockchain Adoption in the Gaming Industry The initiative was announced in a press release seen by CryptoPotato. Game7 was proposed as a $500M blockchain gaming DAO that will seek to accelerate...

According to data provided by the blockchain analysis company – Elliptic – investors have lost $12 billion to criminals targeting decentralized finance platforms since the beginning of 2021. More than $10 billion of that amount accounts for cases of fraud and theft on DeFi products. Seven Times More Than in 2020 Over the recent years, the total value locked in DeFi projects has skyrocketed from $500 million to nearly $250 billion. With this major increase, though, comes the...

cBridge – the multi-chain network that’s designed to enable value transfers into Ethereum and its layer-two scaling solutions, has surpassed $1 billion in terms of total cross-chain transaction volume and assets bridged. According to a press release shared with CryptoPotato, Celer Network’s cBridge has achieved a considerable milestone, surpassing $1 billion in total cross-chain and transaction volume and assets bridged. This comes only four months after cBridge was...

Acala, an Ethereum-compatible DeFi protocol for scaling DApps, has secured the first slot on the much anticipated Polkadot’s parachain auctions.  Acala, a decentralized Layer-1 smart contract platform, recently won the first slot on the parachain auction on Polkadot with a total of 32,515,989 DOT ($1,250,895,296) locked from over 81,000 community members. The funds will be used for a myriad of cases. The first features include launching a stablecoin on the Polkadot network...