Tag Archives: defi

The NFT market continues to rage, and it shows no signs of slowing down. At the time of this writing, Sotheby’s is hosting a dedicated online sale of NFTs of Bored Ape Yacht Club (BAYC,) and the current bid is just short of $20 million. $19 Million for NFT Apes It goes without saying that non-fungible tokens are where all the rage is within the past couple of months, with multiple collections selling for astronomic figures across a variety of blockchains such as Ethereum,...

Following the announcement by core contributor “DeFi Ted,” COVER price plummeted 16% as trading volumes soared. Cover Protocol, a DeFi insurance cryptocurrency minted on Ethereum, will no longer receive support and development after engineers in the core team left suddenly. The insurance coin’s core contributor, “DeFi Ted” announced the project would be shutting down early Sunday morning. COVER had a market cap of around $21 million at the time he made the announcement....

Metamask wallet recently broke another personal record for growth and now has over ten million monthly active users of their wallet. In celebration, they will be hosting a party on Decentraland, coupled with a live stream of the event for those who can’t join. Another Milestone for Metamask After announcing their achievement on Tuesday, the popular wallet promised to host a 24-hour watch party on Decentraland to celebrate. The party will feature a performance from twitch...

The popular DeFi protocol Cream Finance, which became the latest hack victim earlier this week, will allocate 20% of all the fees it charges to repay the affected customers. Additionally, the project has offered a bug bounty to the still unknown perpetrators and up to 50% for third parties who can assist with recovering the funds. What Happened to Cream? CryptoPotato reported earlier this week when Cream Finance – a permissionless, open-source, blockchain agnostic platform –...

Leading decentralized exchange (DEX) aggregator, 1inch Network has announced its partnership with the world’s largest bitcoin and cryptocurrency payment services provider, BitPay. BitPay Integrates With 1inch The integration with 1inch will enable BitPay wallet users to gain access to all of 1inch’s DEX aggregation functionalities for the best deals from multiple liquidity sources, the partners said in a press release. Leveraging the lucrative rates for crypto swaps that...

Blockchain interoperability solution, Wanchain, has partnered with Moonbeam to deploy its non-custodial cross-chain infrastructure on Moonriver as part of its efforts to strengthen the decentralized finance (DeFi) ecosystem of Polkadot’s Canary network, Kusama. According to an official press release, both Wanchain and Moonbeam are poised to develop a multi-chain structure for the blockchain sector with Kusama-based Moonriver becoming a recipient of the service. Commenting on...

Leading automated market maker (AMM) Balancer Protocol has announced that it has launched support on the Layer 2 scaling solution, Arbitrum. Balancer Launches on Arbitrum In a press release shared with CryptoPotato on Tuesday, Balancer noted that the move is an effort to “significantly reduce gas costs and scale liquidity.” Arbitrum is a leading scaling solution within Ethereum’s layer-2 ecosystem that has managed to make a name for itself in the industry despite being a...

A slew of leading Ethereum based DeFi protocols– including Aave, Sushi, Curve, and PoolTogether– recently announced a $100M DeFi adoption initiative with Celo, a mobile platform for financial dApps. Adoption Initiative: “DeFi for the People” Announced today, the recent “DeFi for the People” initiative’s numerous founders include Aave, Curve, Sushi, PoolTogether, 0x, UMA, Valora, Ubeswap, and Moola Market, alongside educational and infrastructure partners including Chainlink,...

Leading DeFi and CeFi aggregator OpenOcean has continued to expand its ecosystem and has just recently integrated Avalanche, a high-scalable and open-source platform for launching decentralized finance apps. In a Monday press release shared with CryptoPotato, OpenOcean noted that its integration with Avalanche will allow its users to swap different digital assets utilizing the best prices available in the market, with minimal risks of slippage. OpenOcean Partners With...

A spokesperson for AnChain.AI, a blockchain analytics firm, recently revealed a $600 000+ contract with the Securities and Exchange Commission to help the agency regulate and monitor the DeFi space. AnChain’s Contract with the SEC The contract – which began in May of 2021 – has an initial value of $125 000, which may escalate to $625 000 if the SEC chooses to retain the group for 5 more $125 000 ‘option’ years. “The SEC is very keen on understanding what is happening in the...