DeFi

Stablecoin provider Paxos has announced its partnership with Chainlink (LINK) to make use of its oracles. This partnership will promote the distribution of its PAX and PAXG tokens in the decentralized finance sector (DeFi). Integration of  Chainlink’s Oracles Will Improve Paxos Stablecoin assets Paxos made this development known in a blog post on its website and revealed further details about the partnership. More specifically, Paxos will be integrating Chainlink’s decentralized price feeds for its tokens. This will enable Paxos smart…

Brian Brooks, the Comptroller of the United States Currency believes that decentralized finance (DeFi) could determine the future of banks.  According to him, DeFi will eventually redefine the banking system provided that adequate regulations are put in place. DeFi Could Change the Banking Sector Brian Brooks the current director of the Office of the Comptroller of the Currency (OCC) revealed his thoughts in an opinion piece published for the Financial Times.  According to Brooks, licenses from national banks could one…

The current bullish sentiments in the crypto market have been a major talking point in recent weeks. Bitcoin's bullish trend has led to a ripple effect in the market's decentralized finance (DeFi) sector. Total Locked In Value hits $17 billion The Total Locked in Value has witnessed an exponential increase in the past few days. According to data from DeFi Pulse, the total TVL hit a record high of $17 billion in today's early hours. Looking at the data, over…

Leading decentralized exchange Uniswap has hit more than $50 billion in volume since launching in November 2018. This makes it the first DeFi platform to achieve this milestone and shows confidence in the project. This information was revealed by Uniswap founder Hayden Adams who took to Twitter to share the milestone. Adams also conducted a poll asking the crypto community to vote for when Uniswap would hit $1 trillion in cumulative volume. The vote indicated the community's bullish sentiments, as…

On Oct 26, 2020, decentralized yield farming protocol Harvest finance became the latest victim of an exploit by a malicious actor. The newly launched DeFi platform created on the Kava blockchain reportedly lost more than $24M in an early Monday morning exploit. The hacker has already swapped his siphoned funds to renBTC, a synthetic version of BTC. He is also reportedly converting part of his loot to Tornado Cash, a privacy tool that obfuscates ETH transactions.  According to a statement…

Several altcoins have built bridges with the decentralized finance (DeFi) industry in recent months. Dash (DASH) is no exception to this trend and has announced a partnership with staking platform StakeHound. StakeHound Partnership a defining one for Dash Dash revealed in a press release that the partnership with StakeHound would allow Dash users to access DeFi applications. StakeHound will serve as a bridge connecting Dash with the Ethereum Defi ecosystem. The partnership will also provide Dash users with DeFi benefits…

DeFi continues to remind us of the good ole days of the ICO craze in 2017. But unlike ICO tokens, DeFi degens don't need to wait for long before they can see the products in motion and ready for use.   However, these projects come in different shapes and forms. Some deliver as promised, while others pull the rug out from under investors. And then, we have the "experiments." But whatever the case, for many degens, it is a game of…

Aave protocol has raised $25 million from investors as it seeks to continue developing DeFi projects. Funds were raised from three investment firms. Aave revealed on Twitter that the DeFi protocol had successfully secured funding from three firms. Blockchain.com Ventures, Blockchain Capital, and Standard Crypto were the firms that partook in the latest funding round, which raised $25million. Blockchain.com ventures are the investment body of popular crypto wallet provider Blockchain.com, and its investment in Aave shows the potentials within the DeFi…

Ethereum miners made a huge fortune in September thanks to the Decentralized Finance boom, which resulted in a steep increase in Gas fees on the Ethereum Network. The rise and fall of decentralized finance (DeFi) 2020 has been the year of decentralized finance (DeFi), as this sector has garnered massive popularity and interest within the crypto community. Although DeFi has been spoken of for many years, nobody predicted the massive rise this year. DeFi protocols boomed overnight, with tons of…