Tag Archives: defi

Li Finance (LiFi) became the latest victim of cyber-attackers, with nearly $600,000 worth of cryptocurrencies stolen from 29 wallets. Shortly after, the team published a post explaining the issue and promised to reimburse all affected users. LiFi Falls Victim to a DeFi Hack The blockchain protocol explained that the attack occurred on March 20, 2022, when a hacker exploited LiFi’s smart contract (specifically its swapping feature), making users who gave infinite approval...

Cardano network has seen notable traction in terms of total locked value (TVL) that has been on a steady rise since the beginning of the year. DeFi TVL on Cardano Skyrockets The latest stats from DeFi TVL aggregator Defi Llama suggests the total value locked (TVL) on Cardano’s decentralized finance (DeFi) protocols has broken a new high of more than $188 million on March 14. The figures cross $270 million when staked governance tokens are added to the valuation of the...

If you talk to any cryptocurrency aficionado about DeFi, Dapps, DAOs, NFTs, they are unlikely to think of Bitcoin as the first relevant blockchain, but OKCoin wants to change that. Today, the Asian exchange announced a partnership with Stacks to bring the highlights of the WEB3 revolution to the Bitcoin blockchain – and the investment to achieve this is strong. OKCoin and Stack Work Towards a More Advanced, Capable Bitcoin Ecosystem As OKCoin explained on its social networks,...

On March 8, Cega Finance announced that it had raised $4.3 million in a seed round led by Dragonfly Capital Partners. There was also participation from various DeFi and crypto VCs, including Pantera Capital, Coinbase Ventures, Alameda Research, and Solana Ventures. The platform, founded by former UBS derivatives trader Arisa Toyosaki, now has a valuation of $60 million. Cega aims to build the next evolution in DeFi derivatives by introducing “exotic derivative capabilities”...

Kyber’s team stated that expensive gas fees and the network congestion on Ethereum left users, creating a need to solve it through Layer-2 scaling solutions such as Arbitrum. The main objective behind the multi-chain decentralized exchange (DEX) and aggregation platform – KyberSwap announcing its launch on the scaling solution – Arbitrum network – is to enable users to conduct faster and cheaper trades. KyberSwap on Arbitrum According to the official blog post, Arbitrum is...

As the war continued to rage, ruble-denominated Bitcoin values rose sharply. Authorities are now looking for ways to minimize use in dodging financial sanctions. And while the recent activity demonstrated that a collapsing ruble might be driving Russians into Bitcoin, FTX CEO – Sam Bankman-Fried – believes the sanctions have made it difficult for them to access digital assets. In the latest interview with CNBC, SBF acknowledged witnessing an enormous amount of digital asset...

Dappradar just released its February 2022 Dapp industry report and found steady activity across the blockchain and DeFi space in the face of bearish market conditions. Meanwhile, the NFT market appears to have entered a consolidation phase. A Quietly Growing Industry According to the report from DappRadar, interest from governments and financial institutions in web 3 technologies is on the rise. They are finding increasing use-cases for blockchain and various ways to embed it...

AdaSwap – one of Cardano’s first decentralized finance (DeFi) protocols – recently raised $2.6M to build a new decentralized exchange (DEX) native to the developing blockchain. Funding was led by iAngels – a female-led Venture Capital firm – and included nine other leading VCs such as Shima Capital, Pluto Digital, and Coti. Even the producer, model, and actress Gal Gadot, alongside producer Jaron Varsano, have taken part in the round. Explaining the AdaSwap DEX The AdaSwap...

With the substantial growth of the Ethereum network, numerous similar systems allowing smart contract deployment emerged trying to compete. While many of them kept outlining shining plans to become Ethereum killers, some remained silent and focused on growth instead of bragging rights. This seems to be the case with Tezos – a decentralized open-source blockchain executing peer-to-peer transactions that saw the light of day nearly four years ago. It has stayed below the radar...

Jake Paul, Soulja Boy, and a slew of other A-listers such as Nick Carter, Ben Phillips, and Lil Yachty have been sued for their involvement in the cryptocurrency project SafeMoon. The lawsuit, which named SafeMoon LLC and its subsidiaries, alleged that the celebs lured in investors with misleading promotions. Celebrity Endorsements Critical to SafeMoon’s Success? According to the official document, the plaintiffs accused the celebrities of being responsible for the artificial...