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DeFi News


DeFi is a big trend in blockchain technology nowadays, and it’s becoming more and more popular every month. If you are seeking the latest news related to decentralized finance technology, companies that have adopted it, and many other innovations, then you have come to the right place. Blockchain Today is providing readers with the most accurate DeFi news and not only. Subscribe to our newsletter not to miss the most interesting articles about this new technology.


DeFi

Sharp jump in network activity in DeFi market is recorded

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In a study by the ConsenSys team, the number of ETH addresses interacting with DeFi protocols expanded dramatically in the second quarter of 2021. This show in the reporting period soared by 65%, analysts said. The total number of wallets deployed on ETH increased by 10% in the last quarter....

Gary Gensler

Gensler points out the need to regulate the DeFi market

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According to the head of SEC, Gary Gensler, the number of investors entering the crypto sphere is constantly growing. The US Securities and Exchange Commission is concerned about the expansion of the DeFi market. The regulator has long ago paid attention to space, the users of which can lend and...

Aave DeFi Twitter

Aave Plans to Launch a Twitter Alternative

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DeFi protocol Aave's CEO Stani Kulechov revealed that the company intends to start an Ethereum-based alternative to Twitter. According to his post, as Twitter CEO Jack Dorsey is building Aave on Bitcoin, Aave should build Twitter on Ethereum. Since @jack is going to build Aave on Bitcoin, Aave...

Uniswap v3 defi

Uniswap v3 Launches on Optimistic Ethereum Mainnet

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DeFi protocol Uniswap announced another move of the upgrade, the launch of Uniswap v3 on the L2 protocol Optimistic Ethereum (OE). 1/💜 We are thrilled to announce the Alpha launch of Uniswap v3 on Optimistic Ethereum (OΞ) mainnet in partnership w/ @OptimismPBC!🌐 This is a critical step in...

ChainSwap attack

DeFi Platform ChainSwap Suffered Two Exploits in 8 Days

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Blockchain interoperability hub ChainSwap was attacked. The exploit, which happened on July 10, caused a loss of around $8 M. On July 11, the ChainSwap team informed that liquidity had been removed temporarily and warned not to acquire the in-built token ASAP, as long as the case was in the process...

Hack

DeFi project on BSC lost $500,000 due to attack

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The DeFi project Impossible Finance (IF) running on the Binance Smart Chain (BSC) ecosystem has come under attack using instant loans. The project representatives stated that they will fully compensate for the funds contributed to the liquidity pools. They promised to inform users about the...

Defi merger

Keep Network and NuCypher to Combine Protocols for Upgrade

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Keep Network and NuCypher, protocols running on Ethereum are creating a merger with the codename KEANU. It's worth mentioning that KEANU is only the codename and the planned DAO may be renamed later. The name has a logic: KEANU is a kind of combination of the two project...

DeFi tokens Sygnum

Sygnum Bank Initiates Services for DeFi Tokens

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On June 15 Switzerland-based digital asset bank Sygnum published a post where it informed about delivering operations for DeFi tokens AAVE, Aragon (ANT), Curve (CRV), Maker (MKR), Synthetix (SNX), Uniswap (UNI), and 1INCH. In addition, the establishment will provide activities for dollar-pegged...

Mark Cuban article

Mark Cuban Released an Article About DeFi and Its Advantages

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American billionaire investor Mark Cuban wrote an article related to blockchain technology and the DeFi industry titled “The Brilliance of Yield Farming, Liquidity Providing, and Valuing Crypto Projects". He stated that crypto businesses make more sense than people think and valuing tokens...

DeFi

DeFi user activity weakened sharply amid falling market

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Daily transactions in the DeFi market have dropped to their lowest levels since 2020. For example, the number of transactions on the UniSwap platform decreased by 28% compared to mid-May. The Glassnode report says that the volume of transactions in dollar terms decreased by 60% in two weeks....

Spartan group

Spartan Group launches $110 million fund to invest in DeFi

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Singapore-based investment firm Spartan Group has launched a $110M venture fund to support DeFi applications. The general partner Jason Choi told about this. According to Choi, the Spartan Group initially expected the fund to be $ 30 million. The framework will place particular emphasis on the DeFi...

Alexis Ohanian QuickNode

Alexis Ohanian Leads Investment in DeFi Startup QuickNode

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Reddit co-founder Alexis Ohanian leads investment in the blockchain development platform, focused on the decentralized internet, QuickNode. The startup attracted $5.3 M in seed funding headed by venture capital company Seven Seven Six, the founder of which is Ohanian. Earlier, the entrepreneur...

Pancake Bunny attacked

Pancake Bunny Lost $200 M as a Result of Flash Loan Attack

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Today, May 20 Binance Smart Chain-based DeFi aggregator PanCake Bunny was attacked and lost $200 M in crypto. The hacker used a flash loan. After the exploit, the price of the BUNNY token fell significantly, by about 96%. PanCake Bunny's team announced the criminal's steps through several tweets....

bEarn Fi hacked

Cross Chain Yield Aggregator bEarn Suffers $11 M from Attack

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bEarn Fi, an auto yield farming protocol based on Binance Smart Chain lost about $11 M as a result of the flash loan attack, which happened on May 16. Attacking bVaults’ BUSD Alpaca strategy, the attacker used flash loans and managed to steal over $10.8 M in the stablecoin BUSD. In DeFi, vaults...

Rari Capital

Rari Capital announced they'll compensate victims of hacking

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Jai Bhavnani, head of DeFi project Rari Capital, announced the payment of compensation to users affected by the hacker attack on May 8th. This is stated in a post on Medium. According to Bhavani, the protocol lost 2,600 ETH (~ $ 10.6 million current). The project will transfer RGT tokens from the...

Rari Capital

Rari Capital lost about $11M as a result of hacking

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An unknown person withdrew assets worth about $ 11.3 million from the Rari Capital decentralized financing protocol. Researcher Igor Igamberdiev noted that the attack was the first cross-network exploit - the attacker stole funds for it from the Value project, which is powered by Binance Smart...

UniSwap v3 launched on the mainnet

UniSwap v3 is Launched on the Mainnet

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On May 5, major Automated Market Maker (AMM) UniSwap disclosed that the v3 is launched on the mainnet. The upgrade is the most optimized variant of the network with the Concentrated Liquidity offering. That means effective capital yielding for liquidity providers and a better framework for...

Hack

Hacker withdrew $30M worth of tokens from Spartan Protocol

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A hacker attacked the Spartan Protocol DeFi project running on the Binance Smart Chain (BSC) and pulled about $ 30 million from its liquidity pools. The hacker used $ 61 million in BNB tokens to attack. Spartan also said they are trying to recover the withdrawn funds and turned to Binance for...

DeFi has become a new trend in the world of blockchains and cryptocurrencies. Finance is always about tracking and analyzing, no matter if it's decentralized or centralized. Now, you have an opportunity of reading about innovations of DeFi technology, how can anyone make use of it, or how various companies are trying to get from DeFi all the advantages it has. 2020 is the year of DeFi. More and more companies are starting to implement this technology into their daily flow. That's why it is becoming necessary to be aware of the technology and its modifications. Our Cryptopedia will help you find out additional information about the DeFi technical side and other details. Find Blockchain Today on social media platforms to discuss the most interesting topics with our community.