What is DeFi? Why are DeFi news important, and why should you follow them?
DeFi, which stands for Decentralized Finance, can be defined as an ecosystem of financial applications that operate on the blockchain. The promise of cryptocurrencies is to make money and payments universal and democratically accessible to anyone, regardless of where they are in the world. The DeFi or Open Finance movement aims to take this concept one step further. Imagine a global and open infrastructure accessible to anyone worldwide with a smartphone and an internet connection, providing access to all the traditional financial services you use today (deposits, loans, trading, insurance, and much more).
DeFi is not actually a new concept; it emerged as a result of individuals and institutions analyzing traditional financial systems for years, identifying problems within those systems, and subsequently taking steps towards solutions. Over the past 2-3 years, Decentralized Finance has become one of the fastest-growing areas in the blockchain and cryptocurrency world, both in terms of the number of users and the value of assets invested. The majority of this growth has been built on the Ethereum blockchain.
As this industry has grown, developments within the sector have also accelerated. Different projects on different blockchains are working on Decentralized Finance (DeFi), and many people interested in this sector find it challenging to keep up with the latest developments.
While there are many opportunities in the industry, malicious actors are also creating their own opportunities in this emerging field. Therefore, caution is necessary, and it’s crucial to gather information from reliable sources about DeFi. Since this field is still in its early stages, even well-intentioned projects may have vulnerabilities. We strive to provide you with the most accurate updates and information about DeFi. You will find DeFi news and what you need to know on this page.
What is DeFi? Why are DeFi news important, and why should you follow them?
DeFi, which stands for Decentralized Finance, can be defined as an ecosystem of financial applications that operate on the blockchain. The promise of cryptocurrencies is to make money and payments universal and democratically accessible to anyone, regardless of where they are in the world. The DeFi or Open Finance movement aims to take this concept one step further. Imagine a global and open infrastructure accessible to anyone worldwide with a smartphone and an internet connection, providing access to all the traditional financial services you use today (deposits, loans, trading, insurance, and much more).
DeFi is not actually a new concept; it emerged as a result of individuals and institutions analyzing traditional financial systems for years, identifying problems within those systems, and subsequently taking steps towards solutions. Over the past 2-3 years, Decentralized Finance has become one of the fastest-growing areas in the blockchain and cryptocurrency world, both in terms of the number of users and the value of assets invested. The majority of this growth has been built on the Ethereum blockchain.
As this industry has grown, developments within the sector have also accelerated. Different projects on different blockchains are working on Decentralized Finance (DeFi), and many people interested in this sector find it challenging to keep up with the latest developments.
While there are many opportunities in the industry, malicious actors are also creating their own opportunities in this emerging field. Therefore, caution is necessary, and it’s crucial to gather information from reliable sources about DeFi. Since this field is still in its early stages, even well-intentioned projects may have vulnerabilities. We strive to provide you with the most accurate updates and information about DeFi. You will find DeFi news and what you need to know on this page.
The approval of Ether spot ETFs by the SEC has the cryptocurrency industry turning to Ethereum ecosystem tokens. While a whale made a hefty $10 million purchase on Binance earlier this morning, the investor seems to have favored altcoins that have attracted recent attention.
Alexey Pertsev, the developer of the crypto mixer Tornado Cash, who was arrested in the Netherlands last year, was found guilty of money laundering by the court. Even if the developer of such apps writes open source code, the court ruled that the developer is liable if the app is used for illegal activities, “even without the developer’s involvement/control”. Pertsev was sentenced to 64 months in prison.
Kain Warwick, founder of Synthetix, a well-known DeFi project, has launched a new project known as Infinex. Infinex will support and unify networks from Ethereum to Solana to Polygon to many Ethereum layer-2 projects, eliminating many DeFi issues such as gas fees and wallet setup.
In the first round of the Cyber Ecosystem Grant Program, where $2 million worth of funds will be distributed, 10 projects were selected.
Crypto and blockchain research firm Arkham Intelligence has reported that millions of dollars of cryptocurrencies have been forgotten in various bridge contracts. The company warned investors to look at their transaction history and check that transactions were completed as specified. It did not go unnoticed that one account forgot $800,000 for 2 years.
Tether, the issuer of USDT, the largest stablecoin with a market capitalization of $108 billion, announced that it will support both its stablecoin and the gold-indexed XAUT coin on Telegram’s TON blockchain.
In January, $600 million worth of tokens in ten projects will come into circulation. This process, called “unlocking”, will be carefully monitored by investors due to its potential to suppress prices. Started with the $29 million worth of SUI According to TokenUnlocks data, 34 million
The surge in cryptocurrencies is helping early investors make big gains in the long run. A whale who bought $500,000 worth of AAVE in 2020 ended up with $13 million in assets. The whale sold $3 million and has already multiplied the original investment sum.
Coinbase, one of the world’s largest cryptocurrency exchanges, announced that it will list the SEAM token of decentralized lending and borrowing platform Seamless Protocol. SEAM will be the first Base-based token to be listed on Coinbase. The listing will take place today at 1PM ET.
Uniswap will start charging swap fees on some tokens starting tomorrow. A fee of 0.15 percent will be charged for each transaction with the affected tokens.