Tag Archives: defi

CoinspeakerEthereum Celebrates 8th Anniversary with Impressive Feat Ethereum has achieved a significant feat of $400 billion in secured value, generating annualized profits of $3.6 billion and a total of 17.8 million blocks of digital assets. Ethereum Celebrates 8th Anniversary with Impressive Feat

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...

The bipartisan legislation introduced earlier this week – titled the Crypto-Asset National Security Enhancement (CANSEE) Act – that seeks to regulate the decentralized finance (DeFi) sector has caused quite a stir. Cypto advocacy groups are voicing objection to the bill arguing that such an approach would stifle innovation in the United States. Coin Center, for one, lashed out at the bill and called it a messy, arbitrary, and unconstitutional approach to DeFi. CANSEE: A...

CoinspeakerCoinMarketCap Releases Its H1 2023 Report on Crypto Market According to the CoinMarketCap report, the global crypto market demonstrated continued growth in the second quarter of the year, with the total market capitalization reaching $1.17 trillion. CoinMarketCap Releases Its H1 2023 Report on Crypto Market

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...

Despite lessening activity in the arena of decentralized finance (defi), some companies – like Giddy – are remaining afloat and establishing solid records for themselves. How Giddy is Holding Its Ground Giddy is described as a self-custody smart wallet. Run by its CEO and co-founder Eric Parker, the company seeks to make wallet experiences easy for everyone following a very bearish year in 2022. In a recent interview, Parker – when asked how Giddy makes money –...

Algorand-based decentralized finance (DeFi) protocol, Algofi, has announced winding down its operations. In a statement, Algofi cited a “confluence of events” as the reason behind its decision that has rendered it no longer viable to continue building and maintaining the platform to the “highest standards.” As a result, the platform will soon transition to withdrawal-only mode. The DeFi platform revealed that closing down all the social media platforms associated with the...

Non-custodial decentralized finance (DeFi) protocol, Arcadia Finance, is the latest victim of a $455,000 exploit that occurred on both the Ethereum and Optimism networks. Confirming the hack, Arcadia revealed that it is working with security partners to minimize the damage after pausing the contracts. The platform has also roped in law enforcement to deal with the issue. Blockchain security expert PeckShield was first to notify the attack on Arcadia and claimed that it was...

In yet another case of a rug pull, Arbitrum-based Chibi Finance reportedly siphoned more than $1 million worth of various crypto assets. Notably, the protocol went live on Tuesday, but the developers managed to launder the stolen funds to other networks shortly after. On-chain analysis conducted by blockchain security platform CertiK revealed that Chibi devs deployed a malicious contract that enabled them to steal user funds from the protocol’s smart contracts. These funds...

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...