COMP

Fenbushi Capital, a blockchain-centric venture capital (VC), appears to be cashing out after moving four tokens, including Aave (AAVE) and Compound (COMP), to Binance. The VC is moving these tokens to the exchange, possibly to sell and lock in their profits or cut losses when market participants expect prices to tick higher. Fenbushi Capital Cashing Out? Sends AAVE, UNI, SNT, and COMP Tokens To Binance After the series of lower lows after crypto prices peaked, mainly in Q1 2024, the…

The Compound Finance (COMP) treasury has been drained of $25 million in a recent governance attack, raising alarms about the state of decentralized governance in the decentralized finance (DeFi) ecosystem. Compound DAO Hijacked According to researcher DeFi Ignas, the attack began with an initial proposal to grant 92,000 COMP tokens, submitted without prior discussion on the Compound DAO forum.  Despite “glaring red flags”  identified by the project’s security advisor, Michael Lewellen, the warning received minimal engagement from the community, with…

Leading Decentralized Finance (Defi) Protocol Compound is staring at heavy losses following a bug bite. The firm's chief, Robert Leshner, has revealed it in a series of tweets. Also, Leshner blamed the firm's woes on an upgrade that went wrong. Compound has recently updated its Comptroller Contract. The Proposal 062 update manages how the protocol rewards its stakers. A bug in the upgrade has seen the contract wrongfully allocate its users staking rewards in COMP tokens. The news won't be…

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…

The year 2020 will certainly be remembered for numerous events, with the world going “viral,” being just one of them. However, this year will go down in history for the cryptocurrency sector when Decentralized Finance (DeFi) protocols exploded. One of the most impressive things about DeFi is that reliable projects spur overnight. In just a few months, they become global ecosystems backed by large communities that pour in millions of dollars. One such success story (at least so far) is…

Every crypto user, including the beginner, has met with the word DeFi, an acronym for Decentralized Finance. DeFi consists of an ecosystem of Financial applications developed on top of blockchains. In addition, DeFi introduces the investors' aspect, making returns on the value of their assets through yield farming markets. Yield farming, also known as liquidity mining, is where crypto holders lend cryptocurrencies and get fees and interest as returns. For example, yield farming imposes a similar principle when an individual…

Blockchain technology has brought numerous innovations, one of them being Decentralized Finance (DeFi). DeFi platforms are the next generation of financial primitives to transform "traditional" financial services such as borrowing, trading, lending, payments, and investing. These platforms employ open-source software and composable frameworks, i.e., smart contracts to offer financial services with no border limitations and in a trustless and transparent manner with no intermediaries present.  DeFi was the hottest topic in the blockchain space in 2020. Today, over 200o DeFi platforms…

The intense increase in the popularity of DeFi created a notable buzz for Ethereum in the cryptocurrency space within the previous few days. The popularity of DeFi in recent times is majorly influenced by an emerging trend known as ‘yield farming.’ Yield farming allows the leveraging of different protocols to receive huge payouts (up to 200 percent APR). Due to this trend, several tokens related to DeFi have seen huge uptrends, even as COMP rallied by over 100% percent and…

MarkerDAO has been the dominant platform in DeFi. However, recent data suggest that Compound has surpassed MarkerDAO in terms of DeFi dominance. Before the COMP distribution began last week, there was $97.7 million on Compound as against $480.5 million on MarkerDAO. However, as of June 21, Compound had $595.4 million worth of COMP tokens locked in DeFi, as against $442.8 million for MarkerDAO, according to DeFi Pulse. Last week, Compound users began earning the platform’s new governance tokens, COMP for…