DeFi

Leading cryptocurrency exchange, Binance has announced a compensation plan for the COVER hack victims on its platform. This is a remarkable gesture from the exchange towards its customers that lost their tokens in the hack. $10 million to be distributed from Binance SAFU Fund Binance revealed more about the compensation plan in an extensive blog post on its website. According to the exchange, the decision to compensate affected customers was taken after a COVER team meeting. The embattled Defi platform informed…

The crypto market has been on a bullish run in recent weeks led by Bitcoin. Ethereum has also made impressive gains during this period moving from $130 to above $700 in 12 months. This gain has transferred to its ecosystem, with over 90% of ETH portfolios in profit. 90% of Eth Addresses In Profit Analytical firm Glassnode recently published a report analyzing the Ethereum ecosystem. During this analysis, it was discovered that more than 47 million ethereum portfolios were trading…

Data from Dune Analytics reveals that there is currently 2million ETH locked into the ETH 2.0 contract. This shows the increased confidence in the Ethereum 2.0 update currently under development. Ethereum 2.0 a major update In general, the crypto community has been surprised to observe the levels of participation in Ethereum 2.0. It is worth remembering that Ethereum 2.0 aims to improve the ETH Blockchain in speed and usability. Recall that, currently, the Ethereum Blockchain suffers multiple bottlenecks that raise…

CoinDefi, a decentralized protocol, has become embroiled in a trademark battle over the $Coin ticker use. The DeFi protocol is accused of bullying those who use the $coin trademark with legal threats. Controversy Regarding the Coin token Trademark Marguerite deCourcelle, an artist with the nickname Coin_artist, revealed on Twitter yesterday that CoinDeFi was threatening to sue her. According to deCourcelle, the DeFi protocol wanted her to remove "coin" from her Twitter handle coin_artist. This, according to deCourcelle, was ridiculous since…

The summer of 2020 has brought many DeFi protocols into the limelight. Some of them were vying for attention for the past few years. Others sprung from the moist soil of the decentralized finance boom overnight and went from being pound shop projects to million-dollar protocols in just a few days. One of these sudden hits is Yam Finance, a yield farming protocol that has seen it all. Rising to unbelievable community support only to fall into disgrace and ridicule…

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…

Trading in the crypto world is sometimes risky, especially to beginner investors. A single wrong move and the investor loses fortunes in their investments. Most of these risks arise because of the widening market, which comes with more insecurities and uncertainties.  New investors will often need assistance or tools to ease their hassle and prosper when trading. However, most Defi platforms today are self-centered, each wanting to maximize its profits instead of focusing on the average investor.  However, a new…

It isn't easy to keep up with the myriad of DeFi protocols spurring on the market every day. A sector with more than $14 billion in locked value protocols will always be a target for scams and hackers. In this high-risk environment, the need for a decentralized system of insurance is imperative. Nexus Mutual is a decentralized insurance platform that aims to give policyholders more power over their liquidity funds. The platform works as a peer-to-peer network in which users…

The year 2020 is coming to an end, and it has been quite beneficial for the cryptocurrency industry. Despite ever-stricter regulations, Bitcoin (BTC) and altcoins have shown their strength in times of crisis, and new blockchain sectors have emerged. We take stock of upcoming trends for 2021. DeFi will consolidate to offer viable financial alternatives Decentralized finance (DeFi) has been the major story for the crypto industry in 2020. The explosion of the sector in the summer raised fears of…