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Synthetix co-founder Kain Warwick has launched Infinex, a new front-end platform that simplifies decentralized finance (DeFi) applications into a single, user-friendly interface.
The platform aims to reduce barriers to entry in DeFi, such as complicated wallet setups, bridging assets, and gas fees.
#Synthetix #Infinex #Defi #buythedip #Memecoins
The platform aims to reduce barriers to entry in DeFi, such as complicated wallet setups, bridging assets, and gas fees.
#Synthetix #Infinex #Defi #buythedip #Memecoins
SafeMoon DeFi Platform Hacked: Almost $9 Million Lost In Liquidity Pool
On March 29, 2023, it was reported that SafeMoon, a DeFi platform on the BNB Chain, had been hacked, resulting in an estimated loss of nearly $9 million from the liquidity pool.
The announcement from SafeMoon read, “We want to inform you that our LP has been compromised. We are taking swift action in an attempt to resolve the issue as soon as possible.”
According to on-chain data reported by BscScan, nearly $8.9 million was transferred out of the liquidity pool. Peckshield, a blockchain security company, reported that a recent update to the platform inadvertently created a “burn bug” vulnerability that leaked the admin key, enabling the hack to occur. “The upgrade, with the exploited public burn bug, was initiated by the official SafeMoon: Deployer. (Admin key leak?) And here comes the upgrade tx,” Peckshield tweeted.
@azcoinnews
The hacker allegedly inflated the price of SFM and then returned the tokens to the pool in the same transaction, allowing them to easily withdraw more than $8.9 million worth of WBNB from the contract.
SafeMoon is a DeFi protocol that provides profits for investors through distribution, LP buybacks, and token burning. However, the project has been previously accused of “pump and dump” schemes by high-profile individuals and the development team in February 2022.
This recent hack is just one in a long line of security breaches that have plagued the DeFi space in recent years. It highlights the need for continued efforts to strengthen security measures and prevent such incidents from occurring in the future. The SafeMoon team has not yet provided an update on the status of the situation or the steps being taken to recover the stolen funds, but the community is likely eagerly awaiting news and hoping for a positive outcome.
#SafeMoon #Binance #Defi #hack #azcoinnews
This article was republished from azcoinnews.com
The announcement from SafeMoon read, “We want to inform you that our LP has been compromised. We are taking swift action in an attempt to resolve the issue as soon as possible.”
According to on-chain data reported by BscScan, nearly $8.9 million was transferred out of the liquidity pool. Peckshield, a blockchain security company, reported that a recent update to the platform inadvertently created a “burn bug” vulnerability that leaked the admin key, enabling the hack to occur. “The upgrade, with the exploited public burn bug, was initiated by the official SafeMoon: Deployer. (Admin key leak?) And here comes the upgrade tx,” Peckshield tweeted.
@azcoinnews
The hacker allegedly inflated the price of SFM and then returned the tokens to the pool in the same transaction, allowing them to easily withdraw more than $8.9 million worth of WBNB from the contract.
SafeMoon is a DeFi protocol that provides profits for investors through distribution, LP buybacks, and token burning. However, the project has been previously accused of “pump and dump” schemes by high-profile individuals and the development team in February 2022.
This recent hack is just one in a long line of security breaches that have plagued the DeFi space in recent years. It highlights the need for continued efforts to strengthen security measures and prevent such incidents from occurring in the future. The SafeMoon team has not yet provided an update on the status of the situation or the steps being taken to recover the stolen funds, but the community is likely eagerly awaiting news and hoping for a positive outcome.
#SafeMoon #Binance #Defi #hack #azcoinnews
This article was republished from azcoinnews.com
CFTC Holds First Meeting Of Technical Advisory Committee To Discuss DeFi Market
On March 22, the U.S. Commodity Futures Trading Commission (CFTC) Technical Advisory Committee (TAC) held its first meeting of the year, with experts in the cryptocurrency industry sharing key information about decentralized finance (DeFi) with regulators.
During the meeting, officials from the cryptocurrency industry briefed the committee on crucial issues affecting the DeFi market, including decentralization, cyber attacks, and digital identity.
CFTC Commissioner Christy Goldsmith Romero, who sponsors the committee, explained the purpose of the meeting, stating, “As regulators and legislators are currently making policy decisions related to DeFi, it is important to understand how DeFi works.”
At the meeting, Ari Redbord, head of legal and political affairs at blockchain analysis firm TRM Labs, provided an overview of DeFi and blockchain technology. Redbord emphasized the strengths of blockchain technology, such as transparency, immutability, and privacy, stating that “the technology allows authorities to balance the right to privacy with the need for security.”
@azcoinnews
Nikos Andrikogiannopoulos, founder of analytics firm Metrika, also spoke about the benefits of decentralization and the challenges the industry faces. He emphasized the fact that “the benefits of DeFi far outweigh the problems, and the problems are self-solvable,” adding that “it is important not only to embrace decentralization but to steer it in the right direction.”
During the meeting, officials also discussed the substantial asset values that have flowed into DeFi over the past two years. According to DeFirama, the value of DeFi is worth $49.1 billion, with an increase of $15 billion since the beginning of 2021.
The meeting also addressed hacks and vulnerabilities in the marketplace. Michael Shaulov, founder of Fireblocks, and DanGuido, founder of Trail of Bits, spoke about the top 10 hacks in the cryptocurrency sector in 2022, which resulted in losses of over $2 billion, with 113 out of 167 hacks occurring in DeFi.
As a result of the meeting, the CFTC Technical Advisory Committee unanimously voted to establish the Digital Asset and Blockchain Technology Subcommittee, which will focus on DeFi’s need, problems, use cases, vulnerabilities, and proposals for legal and policy frameworks.
#Defi #Binance #crypto2023 #BTC #azcoinnews
This article was republished from azcoinnews.com
During the meeting, officials from the cryptocurrency industry briefed the committee on crucial issues affecting the DeFi market, including decentralization, cyber attacks, and digital identity.
CFTC Commissioner Christy Goldsmith Romero, who sponsors the committee, explained the purpose of the meeting, stating, “As regulators and legislators are currently making policy decisions related to DeFi, it is important to understand how DeFi works.”
At the meeting, Ari Redbord, head of legal and political affairs at blockchain analysis firm TRM Labs, provided an overview of DeFi and blockchain technology. Redbord emphasized the strengths of blockchain technology, such as transparency, immutability, and privacy, stating that “the technology allows authorities to balance the right to privacy with the need for security.”
@azcoinnews
Nikos Andrikogiannopoulos, founder of analytics firm Metrika, also spoke about the benefits of decentralization and the challenges the industry faces. He emphasized the fact that “the benefits of DeFi far outweigh the problems, and the problems are self-solvable,” adding that “it is important not only to embrace decentralization but to steer it in the right direction.”
During the meeting, officials also discussed the substantial asset values that have flowed into DeFi over the past two years. According to DeFirama, the value of DeFi is worth $49.1 billion, with an increase of $15 billion since the beginning of 2021.
The meeting also addressed hacks and vulnerabilities in the marketplace. Michael Shaulov, founder of Fireblocks, and DanGuido, founder of Trail of Bits, spoke about the top 10 hacks in the cryptocurrency sector in 2022, which resulted in losses of over $2 billion, with 113 out of 167 hacks occurring in DeFi.
As a result of the meeting, the CFTC Technical Advisory Committee unanimously voted to establish the Digital Asset and Blockchain Technology Subcommittee, which will focus on DeFi’s need, problems, use cases, vulnerabilities, and proposals for legal and policy frameworks.
#Defi #Binance #crypto2023 #BTC #azcoinnews
This article was republished from azcoinnews.com
DefiLlama Apologizes For Misleading Airdrop Announcement
DefiLlama, an on-chain information platform for decentralized finance (DeFi) projects, issued an apology on March 20th for causing confusion with its recent airdrop announcement. The project stated that it would cancel its token launch plan until there were changes in the future.
According to AZCoin News, the control account of DefiLlama’s domain name unilaterally deployed tokens while other project members disagreed.
The project’s founder, known as 0xngmi, criticized 0xLlam4, another co-founder, for deciding to issue tokens despite opposition from other developers. In response, 0xngmi decided to build a new website for the project under the domain name llama.fi, stating that the new token did not represent DefiLlama.
“Don’t believe any information about any token from DefiLlama,” 0xngmi declared. Tendeeno, a developer on DefiLlama, claimed that 0xLlam4 was at fault, adding that 0xLlam4 controls the company’s domain name and Twitter account and could announce a token at any time.
Meanwhile, LlamaIntern.eth, another member of the project, accused 0xngmi and others of trying to block DefiLlama’s IP address while attempting to take over ownership of the project.
On March 20th, DefiLlama’s Twitter account confirmed that the project had no plans to launch the LLAMA token at the moment and wanted to “put aside what happened.” The project emphasized that it would consult with the community before the airdrop because all important decisions needed user input.
“DefiLlama wants to apologize for the events that occurred yesterday (March 19th) due to misunderstandings within the project,” the company wrote on Twitter. As rumors and disputes erupted, 0xngmi called on followers to use llama.fi. The llama.fi domain name has now redirected users back to the old defillama website, showing that the conflict within DefiLlama has been somewhat resolved.
Members of the project on Discord appeared relieved when developers reassured the community. Earlier, the dispute between the project’s two leaders had caused some to voice concerns about the website being hacked or attacked.
“It’s great to see you guys have figured out a way to keep the project team,” said a user named 0xSerdar.
The announcement was posted on one of DefiLlama’s Telegram channels, claiming that 0xngmi had committed “fraud” and was trying to take over the company’s IP address, which was later deleted. After the incident, DefiLlama promised not to let similar issues happen again.
DefiLlama stated that they will take steps to operate in a more transparent manner and ensure that such incidents do not occur again. They also mentioned that the company will continue to collaborate towards developing open and transparent solutions.
#Defillama #Defi #BTC #crypto2023 #azcoinnews
This article was republished from azcoinnews.com
According to AZCoin News, the control account of DefiLlama’s domain name unilaterally deployed tokens while other project members disagreed.
The project’s founder, known as 0xngmi, criticized 0xLlam4, another co-founder, for deciding to issue tokens despite opposition from other developers. In response, 0xngmi decided to build a new website for the project under the domain name llama.fi, stating that the new token did not represent DefiLlama.
“Don’t believe any information about any token from DefiLlama,” 0xngmi declared. Tendeeno, a developer on DefiLlama, claimed that 0xLlam4 was at fault, adding that 0xLlam4 controls the company’s domain name and Twitter account and could announce a token at any time.
Meanwhile, LlamaIntern.eth, another member of the project, accused 0xngmi and others of trying to block DefiLlama’s IP address while attempting to take over ownership of the project.
On March 20th, DefiLlama’s Twitter account confirmed that the project had no plans to launch the LLAMA token at the moment and wanted to “put aside what happened.” The project emphasized that it would consult with the community before the airdrop because all important decisions needed user input.
“DefiLlama wants to apologize for the events that occurred yesterday (March 19th) due to misunderstandings within the project,” the company wrote on Twitter. As rumors and disputes erupted, 0xngmi called on followers to use llama.fi. The llama.fi domain name has now redirected users back to the old defillama website, showing that the conflict within DefiLlama has been somewhat resolved.
Members of the project on Discord appeared relieved when developers reassured the community. Earlier, the dispute between the project’s two leaders had caused some to voice concerns about the website being hacked or attacked.
“It’s great to see you guys have figured out a way to keep the project team,” said a user named 0xSerdar.
The announcement was posted on one of DefiLlama’s Telegram channels, claiming that 0xngmi had committed “fraud” and was trying to take over the company’s IP address, which was later deleted. After the incident, DefiLlama promised not to let similar issues happen again.
DefiLlama stated that they will take steps to operate in a more transparent manner and ensure that such incidents do not occur again. They also mentioned that the company will continue to collaborate towards developing open and transparent solutions.
#Defillama #Defi #BTC #crypto2023 #azcoinnews
This article was republished from azcoinnews.com
DeFi platform Oasis exploited its own #wallet after receiving green signal from law enforcement agencies to retrieve assets stolen during a wormhole attack which is deemed one of the biggest hacks.
#Coinarth #Defi #Cryptonews
#Coinarth #Defi #Cryptonews
90% Of DeFi Insurance Claims Paid Out In 2022
According to a recent report by OpenCover, a data analytics firm, 90% of the value of DeFi insurance claims have been paid out in 2022 due to the increasing risks in the industry. The report stated that DeFi insurance companies paid out compensation totaling $34.4 million to customers in 2022, equivalent to 90% of the total insured value.
Some notable claims were related to major events such as the Depeg UST, where $22.5 million was paid out, and the FTX collapse, where $4.7 million was paid out. The data from providers showed that a total of 19,839 insurance contracts were sold, with 552 claims and 379 payments. The number of contracts sold since November 6, 2022, has increased by 85% compared to four months prior when the news of FTX’s instability broke out.
In addition, the demand for insurance has been fueled by speculation in Layer-2 airdrops, such as Arbitrum. Following the announcement of the airdrop, the rate of insurance purchases increased significantly by 15%.
The primary buyers of DeFi insurance are DAO organizations, project development teams, hedge funds, and high-net-worth individuals. There is very little demand from small-scale investors.
Currently, the total liquidity that DeFi insurance providers have committed to guaranteeing their customers amounts to 186,000 ETH (approximately $286 million). However, despite the general increase in demand for DeFi insurance, this capital only supports insurance for operations valued at 151,000 ETH (approximately $231 million), equivalent to about 0.5% of the total locked-up value of $48 billion in DeFi.
OpenCover’s report collected data over the past nine months from seven EVM-compatible blockchains. The list of insurance providers mentioned includes Nexus Mutual, Unslashed Finance, InsurAce, Chainproof, Sherlock, Neptune Mutual, Risk Harbor, InsureDAO, and Ease. Among them, Nexus Mutual dominates the market, accounting for 80% of the total market capitalization.
It is clear that the market is paying more attention to the cryptocurrency insurance industry. However, this segment still faces limitations such as scalability, high costs, trust in insurance companies, or different regulations compared to traditional insurance. Solving these issues on a large scale could be the key to sparking and developing the application of DeFi for the public.
#Defi #Insurance #crypto2023 #crypto2023 #azcoinnews
This article was republished from azcoinnews.com
Follow us on Telegram @azcoinnews and Twitter @azcoinnews
Some notable claims were related to major events such as the Depeg UST, where $22.5 million was paid out, and the FTX collapse, where $4.7 million was paid out. The data from providers showed that a total of 19,839 insurance contracts were sold, with 552 claims and 379 payments. The number of contracts sold since November 6, 2022, has increased by 85% compared to four months prior when the news of FTX’s instability broke out.
In addition, the demand for insurance has been fueled by speculation in Layer-2 airdrops, such as Arbitrum. Following the announcement of the airdrop, the rate of insurance purchases increased significantly by 15%.
The primary buyers of DeFi insurance are DAO organizations, project development teams, hedge funds, and high-net-worth individuals. There is very little demand from small-scale investors.
Currently, the total liquidity that DeFi insurance providers have committed to guaranteeing their customers amounts to 186,000 ETH (approximately $286 million). However, despite the general increase in demand for DeFi insurance, this capital only supports insurance for operations valued at 151,000 ETH (approximately $231 million), equivalent to about 0.5% of the total locked-up value of $48 billion in DeFi.
OpenCover’s report collected data over the past nine months from seven EVM-compatible blockchains. The list of insurance providers mentioned includes Nexus Mutual, Unslashed Finance, InsurAce, Chainproof, Sherlock, Neptune Mutual, Risk Harbor, InsureDAO, and Ease. Among them, Nexus Mutual dominates the market, accounting for 80% of the total market capitalization.
It is clear that the market is paying more attention to the cryptocurrency insurance industry. However, this segment still faces limitations such as scalability, high costs, trust in insurance companies, or different regulations compared to traditional insurance. Solving these issues on a large scale could be the key to sparking and developing the application of DeFi for the public.
#Defi #Insurance #crypto2023 #crypto2023 #azcoinnews
This article was republished from azcoinnews.com
Follow us on Telegram @azcoinnews and Twitter @azcoinnews
Decentralized Finance (De-Fi)
Decentralized Finance, commonly known as De-Fi, has emerged as one of the most groundbreaking innovations in the world of finance. Built on blockchain technology, De-Fi aims to disrupt traditional financial systems by enabling peer-to-peer transactions, eliminating intermediaries, and providing unprecedented access to financial services. This article explores the concept of De-Fi, its key components, benefits, and potential challenges, shedding light on its transformative potential.
Understanding De-Fi:
De-Fi refers to a wide range of blockchain-based financial applications and platforms that aim to democratize finance and create an open, permissionless, and transparent ecosystem. Unlike traditional finance, De-Fi applications operate on decentralized networks like Ethereum, allowing individuals to engage in various financial activities without relying on banks or intermediaries.
Key Components of De-Fi:
Smart Contracts: De-Fi platforms utilize smart contracts, self-executing digital agreements, to automate and enforce financial transactions. These contracts eliminate the need for intermediaries and ensure the security and transparency of transactions.
Decentralized Exchanges (DEXs): DEXs enable users to trade cryptocurrencies directly with one another, removing the need for centralized exchanges. They provide liquidity and facilitate seamless trading in a secure and transparent manner.
Lending and Borrowing: De-Fi platforms offer lending and borrowing protocols, allowing users to lend their crypto assets and earn interest or borrow assets by providing collateral. These protocols operate autonomously, matching lenders and borrowers based on predefined parameters.
Stablecoins: Stablecoins are cryptocurrencies designed to maintain a stable value by pegging them to fiat currencies or other assets. They provide stability within the volatile crypto market and serve as a bridge between traditional and decentralized finance.
Benefits of De-Fi:
Financial Inclusion: De-Fi eliminates barriers to entry, enabling individuals without access to traditional banking services to participate in financial activities. Anyone with an internet connection can engage in De-Fi, opening up opportunities for the unbanked and underbanked populations.
Transparency and Security: De-Fi platforms leverage blockchain technology, providing transparent and immutable records of transactions. This enhances security, reduces the risk of fraud, and increases trust among participants.
Interoperability and Openness: De-Fi protocols are typically open-source, allowing developers to build on existing platforms and create new applications. This fosters innovation and collaboration, driving the rapid expansion of the De-Fi ecosystem.
Challenges and Risks:
Regulatory Uncertainty: De-Fi's decentralized nature poses challenges for regulators in terms of oversight, consumer protection, and compliance. Governments and regulatory bodies are still grappling with how to regulate and address potential risks associated with De-Fi platforms.
Security Vulnerabilities: While blockchain technology is considered secure, De-Fi platforms are not immune to vulnerabilities. Smart contract bugs, hacking attempts, and fraudulent activities can pose significant risks, leading to financial losses.
Volatility and Market Risks: The crypto market is highly volatile, and De-Fi platforms are not exempt from its fluctuations. Users must be aware of the risks associated with price volatility and the potential impact on their investments.
Conclusion:
De-Fi has the potential to reshape the traditional financial landscape, providing greater financial inclusivity, transparency, and autonomy. However, it is crucial to navigate the challenges and risks associated with this emerging sector. As the De-Fi ecosystem continues to evolve, collaborations between regulators, developers, and participants will play a vital role in fostering responsible innovation and harnessing the full potential of decentralized finance.
#Defi
Understanding De-Fi:
De-Fi refers to a wide range of blockchain-based financial applications and platforms that aim to democratize finance and create an open, permissionless, and transparent ecosystem. Unlike traditional finance, De-Fi applications operate on decentralized networks like Ethereum, allowing individuals to engage in various financial activities without relying on banks or intermediaries.
Key Components of De-Fi:
Smart Contracts: De-Fi platforms utilize smart contracts, self-executing digital agreements, to automate and enforce financial transactions. These contracts eliminate the need for intermediaries and ensure the security and transparency of transactions.
Decentralized Exchanges (DEXs): DEXs enable users to trade cryptocurrencies directly with one another, removing the need for centralized exchanges. They provide liquidity and facilitate seamless trading in a secure and transparent manner.
Lending and Borrowing: De-Fi platforms offer lending and borrowing protocols, allowing users to lend their crypto assets and earn interest or borrow assets by providing collateral. These protocols operate autonomously, matching lenders and borrowers based on predefined parameters.
Stablecoins: Stablecoins are cryptocurrencies designed to maintain a stable value by pegging them to fiat currencies or other assets. They provide stability within the volatile crypto market and serve as a bridge between traditional and decentralized finance.
Benefits of De-Fi:
Financial Inclusion: De-Fi eliminates barriers to entry, enabling individuals without access to traditional banking services to participate in financial activities. Anyone with an internet connection can engage in De-Fi, opening up opportunities for the unbanked and underbanked populations.
Transparency and Security: De-Fi platforms leverage blockchain technology, providing transparent and immutable records of transactions. This enhances security, reduces the risk of fraud, and increases trust among participants.
Interoperability and Openness: De-Fi protocols are typically open-source, allowing developers to build on existing platforms and create new applications. This fosters innovation and collaboration, driving the rapid expansion of the De-Fi ecosystem.
Challenges and Risks:
Regulatory Uncertainty: De-Fi's decentralized nature poses challenges for regulators in terms of oversight, consumer protection, and compliance. Governments and regulatory bodies are still grappling with how to regulate and address potential risks associated with De-Fi platforms.
Security Vulnerabilities: While blockchain technology is considered secure, De-Fi platforms are not immune to vulnerabilities. Smart contract bugs, hacking attempts, and fraudulent activities can pose significant risks, leading to financial losses.
Volatility and Market Risks: The crypto market is highly volatile, and De-Fi platforms are not exempt from its fluctuations. Users must be aware of the risks associated with price volatility and the potential impact on their investments.
Conclusion:
De-Fi has the potential to reshape the traditional financial landscape, providing greater financial inclusivity, transparency, and autonomy. However, it is crucial to navigate the challenges and risks associated with this emerging sector. As the De-Fi ecosystem continues to evolve, collaborations between regulators, developers, and participants will play a vital role in fostering responsible innovation and harnessing the full potential of decentralized finance.
#Defi
🔴2014 - You missed $DOGE
🔴2015 - You missed $XRP
🔴2016 - You missed $ETH
🔴2017 - You missed $ADA
🔴2018 - You missed $BNB
🔴2019 - You missed $LINK
🔴2020 - You missed $DOT
🔴2021 - You missed $SHIB
🔴2022 - You missed $GMX
✅In 2023, don't miss $____
Which coin will become a #1000x gem 💚?
Write your choise in comment ⤵️
#Crypto2023 #Web3 #Defi #Ripple
🔴2015 - You missed $XRP
🔴2016 - You missed $ETH
🔴2017 - You missed $ADA
🔴2018 - You missed $BNB
🔴2019 - You missed $LINK
🔴2020 - You missed $DOT
🔴2021 - You missed $SHIB
🔴2022 - You missed $GMX
✅In 2023, don't miss $____
Which coin will become a #1000x gem 💚?
Write your choise in comment ⤵️
#Crypto2023 #Web3 #Defi #Ripple
What to do with altcoins in a drawdown: hike or lock in a loss
What to do with altcoins in a drawdown: hike or lock in a loss 🤔
The harsh practice of life convinces you to let go of negative positions, fix the loss and comfort yourself with the experience gained. In practice, you should jump out of the train flying into the abyss at the very beginning of the fall, while you can still return 70% or at least 50% of the funds 😭
That is, if you entered the market and the bear market started, you should get minus now, while there is still something left to save. If you held the coin to minus 70% and below because of variousfor various reasons, you have nothing to lose and you can risk waiting for the next bull market.
Altcoin hodler algorithm:
▪️ Make sure the coin is able to survive to the bull market. ▪️ Keep an eye on the altcoin and try to go to zero in a bull market or just a good pampa.
▪️ Don't be greedy! Most altcoins do not update the highs of the previous bull cycle. If the coin is suddenly in the trend again - you will re-enter.
Save it for yourself and tell a friend 😉
#altcoins #Crypto2023 #BTC #web3 #Defi
The harsh practice of life convinces you to let go of negative positions, fix the loss and comfort yourself with the experience gained. In practice, you should jump out of the train flying into the abyss at the very beginning of the fall, while you can still return 70% or at least 50% of the funds 😭
That is, if you entered the market and the bear market started, you should get minus now, while there is still something left to save. If you held the coin to minus 70% and below because of variousfor various reasons, you have nothing to lose and you can risk waiting for the next bull market.
Altcoin hodler algorithm:
▪️ Make sure the coin is able to survive to the bull market. ▪️ Keep an eye on the altcoin and try to go to zero in a bull market or just a good pampa.
▪️ Don't be greedy! Most altcoins do not update the highs of the previous bull cycle. If the coin is suddenly in the trend again - you will re-enter.
Save it for yourself and tell a friend 😉
#altcoins #Crypto2023 #BTC #web3 #Defi
🏙️ Hey Mayors! I'm in full spin and build mode 🔄Where are you on the leaderboard now? Flex those achievements to us, #PancakeMayors🎩
🔨BUIDL your cities now: https://pancakeswap.games/
🌆Learn here:
https://blog.pancakeswap.finance/articles/pancakeswap-welcomes-pancake-mayor-to-our-gaming-marketplace
#Gamefi #Defi
🔨BUIDL your cities now: https://pancakeswap.games/
🌆Learn here:
https://blog.pancakeswap.finance/articles/pancakeswap-welcomes-pancake-mayor-to-our-gaming-marketplace
#Gamefi #Defi
Jito Reveals JTO Airdrop for Solana DeFi Users—Here's Who Can Claim
⭐ The Solana DeFi platform Jito is giving 100 million JTO tokens to its community to facilitate collective governance.
⭐ JitoSOL is the platform’s staking token, and currently has over 6.7 million SOL in total volume locked (or about $372 million worth). JitoSOL holders can earn Jito Points by keeping the tokens in their wallets.
#SOL #Solana #JTO #Jito #Defi
⭐ The Solana DeFi platform Jito is giving 100 million JTO tokens to its community to facilitate collective governance.
⭐ JitoSOL is the platform’s staking token, and currently has over 6.7 million SOL in total volume locked (or about $372 million worth). JitoSOL holders can earn Jito Points by keeping the tokens in their wallets.
#SOL #Solana #JTO #Jito #Defi
Currently It's at a price of $26,800. While is down 15% in 2 weeks, is still doing better. The first 2 weeks of October the market was not positive. But I see it will increase sharply in the next 2 weeks. Let's wait and see . 👀#BTC 1D chart update by Blockchain USA Official .
#Defi #binance #crypto2023 #crypto #bnb
#Defi #binance #crypto2023 #crypto #bnb
$BTC $37,313.81 +2.63% Bitcoin
$ETH $2,062.90 +3.98% Ethereum
$BNB $234.60 -0.09%
XRP $0.6092 +3.11%
NEW LISTING #BINANCE
#ORDI $22.80 +12.42%
#MEME $0.028151 +12.94%
#TIA $6.01 +5.06%
SEI $0.2089 +33.14%
SUPER $0.2081 +29.17%
HFT $0.3299 +24.44%
Total Crypto Market Cap : $1.47 T
Bitcoin Market Cap : $729.82 B
Ethereum Market Cap : $248.06 B
ETH/BTC Ratio : 0.06
Ethereum Gas Price : 30 gwei
DeFi TVL : $69.36 B #Defi
Fear and Greed Index : 66 (Greed)
Federal Reserve Balance Sheet : $8.09 T
$ETH $2,062.90 +3.98% Ethereum
$BNB $234.60 -0.09%
XRP $0.6092 +3.11%
NEW LISTING #BINANCE
#ORDI $22.80 +12.42%
#MEME $0.028151 +12.94%
#TIA $6.01 +5.06%
SEI $0.2089 +33.14%
SUPER $0.2081 +29.17%
HFT $0.3299 +24.44%
Total Crypto Market Cap : $1.47 T
Bitcoin Market Cap : $729.82 B
Ethereum Market Cap : $248.06 B
ETH/BTC Ratio : 0.06
Ethereum Gas Price : 30 gwei
DeFi TVL : $69.36 B #Defi
Fear and Greed Index : 66 (Greed)
Federal Reserve Balance Sheet : $8.09 T
Discovering ArithFi: Changing How We Trade Derivatives is
In the world of decentralized finance (DeFi), there's a new project called ArithFi that's doing something special with derivatives. I did some digging into ArithFi, and here's what I found out:ArithFi is all about making derivatives trading easier and fairer. Instead of relying on big companies to manage trades, ArithFi uses smart contracts, which are like computer programs, to handle everything. This means there are no middlemen, and anyone can join in without needing special permission.One thing I really liked about ArithFi is that it's built with the community in mind. Everyone who owns ArithFi tokens has a say in how things are run, which makes it feel like we're all in it together.When I looked into how ArithFi's tokens are distributed, it seemed pretty straightforward. There's a total of 1 billion tokens, and some are set aside for investors, the team, and other important activities. This shows that ArithFi wants to be fair and transparent.I also checked out ArithFi's plans for the future, and they seem really ambitious. They're working on making the platform even better and exploring new ways to connect with other blockchain networks.Overall, ArithFi looks like an exciting project that's making waves in the world of DeFi. If you're interested in trading derivatives in a fairer and more accessible way, ArithFi might be worth looking into. But don't just take my word for it – do your own research and see if ArithFi is right for you!#ArithFI #Defi #Derivative
The latest and most important #Defi events that will make it a big deal
The decentralized finance (Defi) industry has witnessed tremendous growth in recent years, with the value of assets managed in Defi protocols exceeding $200 billion in 2022. This growth is due to a number of factors, including: These include lower transaction costs, increased access to finance, and access to new financial products and services.
Here are some of the latest and most important Defi events that are expected to make it an important event in the coming years:
Launch of new Defi projects: New Defi projects are constantly being launched, providing more options for investors and users. Some of the new projects launched recently include Abracadabra.Money, OlympusDAO, and Wonderland.Money. Increased Institutional Adoption: Major financial institutions have begun to adopt Defi, indicating that the sector is becoming more mature. Some institutions that have adopted Defi include Goldman Sachs, JPMorgan Chase, and Citigroup. Regulation: Regulators are stepping up efforts to regulate Defi, which could lead to more sustainable growth of the sector.
The Importance of Defi Events
Defi events contribute to the growth of the overall sector, providing more options for investors and users. Some of the benefits that Defi events provide include:
Increased financial inclusion: Defi can help increase financial inclusion by providing access to finance to people who cannot access traditional financial services. Enhancing competition: Defi can help promote competition in the financial sector, which may lead to lower prices for financial products and services. New innovation: Defi can help with innovation in the financial sector, which can lead to the development of new financial products and services.
Conclusion
The Defi industry is expected to continue to grow and develop in the coming years. Defi events will play an important role in this growth, which will help make Defi an important event in the financial world.#DeFiChallenge #DeFiMeme
The decentralized finance (Defi) industry has witnessed tremendous growth in recent years, with the value of assets managed in Defi protocols exceeding $200 billion in 2022. This growth is due to a number of factors, including: These include lower transaction costs, increased access to finance, and access to new financial products and services.
Here are some of the latest and most important Defi events that are expected to make it an important event in the coming years:
Launch of new Defi projects: New Defi projects are constantly being launched, providing more options for investors and users. Some of the new projects launched recently include Abracadabra.Money, OlympusDAO, and Wonderland.Money. Increased Institutional Adoption: Major financial institutions have begun to adopt Defi, indicating that the sector is becoming more mature. Some institutions that have adopted Defi include Goldman Sachs, JPMorgan Chase, and Citigroup. Regulation: Regulators are stepping up efforts to regulate Defi, which could lead to more sustainable growth of the sector.
The Importance of Defi Events
Defi events contribute to the growth of the overall sector, providing more options for investors and users. Some of the benefits that Defi events provide include:
Increased financial inclusion: Defi can help increase financial inclusion by providing access to finance to people who cannot access traditional financial services. Enhancing competition: Defi can help promote competition in the financial sector, which may lead to lower prices for financial products and services. New innovation: Defi can help with innovation in the financial sector, which can lead to the development of new financial products and services.
Conclusion
The Defi industry is expected to continue to grow and develop in the coming years. Defi events will play an important role in this growth, which will help make Defi an important event in the financial world.#DeFiChallenge #DeFiMeme
Jupiter Launching Solana Meme Coin With An Airdrop Even Bigger Than JUP
Solana's DeFi aggregator, Jupiter, is set to distribute its JUP tokens to nearly a million eligible wallets on January 31. Before the JUP token drop, Jupiter will conduct a test on its launchpad by airdropping a meme coin from the Ovols protocol, a "DeFi meets NFTs" project on Solana. The meme coin airdrop is expected to be larger than the JUP drop, providing a fun but technically challenging test for Jupiter's launchpad.
Ovols will contribute 1% of its meme coin supply to Jupiter, with 75% allocated to the JUP DAO and 25% to Jupiter's team. Although the date for the Ovols meme coin airdrop hasn't been disclosed, Jupiter plans to initiate additional projects on its launchpad starting in February, following the JUP airdrop at the end of January.
Meme coins have gained popularity on Solana, known for their volatility and sudden value fluctuations. Notably, BONK, a meme coin airdropped in December 2022, experienced a substantial increase in value, reaching over $500,000 a year later. However, it's important to note the inherent volatility of meme coins, as illustrated by the 69% decrease in BONK's price over the past month since its peak on December 15.
Another Solana meme coin, Dogwifhat (WIF), has recently surged but is currently down 47% after setting a new all-time high less than a week ago. Despite their instability, meme coins generate short-term excitement through airdrops, injecting significant value into crypto communities. Jupiter has two such airdrops scheduled in the coming days, adding anticipation to the Solana DeFi scene. Stay tuned for updates on the Ovols meme coin airdrop and Jupiter's future projects on its launchpad.
#BTC #Defi #Sol #ETH
$SOL $BTC $ETH
Solana's DeFi aggregator, Jupiter, is set to distribute its JUP tokens to nearly a million eligible wallets on January 31. Before the JUP token drop, Jupiter will conduct a test on its launchpad by airdropping a meme coin from the Ovols protocol, a "DeFi meets NFTs" project on Solana. The meme coin airdrop is expected to be larger than the JUP drop, providing a fun but technically challenging test for Jupiter's launchpad.
Ovols will contribute 1% of its meme coin supply to Jupiter, with 75% allocated to the JUP DAO and 25% to Jupiter's team. Although the date for the Ovols meme coin airdrop hasn't been disclosed, Jupiter plans to initiate additional projects on its launchpad starting in February, following the JUP airdrop at the end of January.
Meme coins have gained popularity on Solana, known for their volatility and sudden value fluctuations. Notably, BONK, a meme coin airdropped in December 2022, experienced a substantial increase in value, reaching over $500,000 a year later. However, it's important to note the inherent volatility of meme coins, as illustrated by the 69% decrease in BONK's price over the past month since its peak on December 15.
Another Solana meme coin, Dogwifhat (WIF), has recently surged but is currently down 47% after setting a new all-time high less than a week ago. Despite their instability, meme coins generate short-term excitement through airdrops, injecting significant value into crypto communities. Jupiter has two such airdrops scheduled in the coming days, adding anticipation to the Solana DeFi scene. Stay tuned for updates on the Ovols meme coin airdrop and Jupiter's future projects on its launchpad.
#BTC #Defi #Sol #ETH
$SOL $BTC $ETH
We made UI improvements:
-Added "Liquidation price" on the Opening Farm page
-Alperp:
--Added French translation
--Keep leverage level when changing token
--Keep the last token pair viewed when leaving & return to the page
--Added "Max" button on Swap & Buy/Sell ALP pages
#defiprotocols #UX #UI #userexperience #Defi
-Added "Liquidation price" on the Opening Farm page
-Alperp:
--Added French translation
--Keep leverage level when changing token
--Keep the last token pair viewed when leaving & return to the page
--Added "Max" button on Swap & Buy/Sell ALP pages
#defiprotocols #UX #UI #userexperience #Defi
Decoding the Potential Resurgence of DeFi Summer: Are We in for Another Boom?
As the cryptocurrency market continues to evolve, the concept of "DeFi Summer" has captured the attention of investors and enthusiasts alike. Characterized by surging token prices and increased activity, DeFi Summer refers to a period of intense growth and excitement in the decentralized finance (DeFi) space. While the previous wave of DeFi Summer came to an end due to various challenges, recent market trends and factors suggest the potential for a new wave. In this article, we will explore the signs, drivers, and implications of a possible DeFi Summer resurgence.
The Birth of DeFi Summer: Exploring its Origins and Impact
DeFi Summer, which originated in the early 2020s, marked a significant milestone in the development of decentralized finance. It began with the rise of liquidity protocols and the subsequent appreciation of token values. The excitement surrounding DeFi Summer was so immense that even in August 2020, eligible community members received airdrops worth $1,200. Protocols like Pancake also experienced all-time highs, fueling the enthusiasm further.
The Rise and Fall: Analyzing the Factors Behind the Conclusion of DeFi Summer
Unfortunately, the previous DeFi Summer came to an end as institutional investors faced several hurdles. Issues such as hacking incidents, regulatory concerns, and the collapse of prominent platforms like Teraluna, Ero Capital, and FTX in 2022 contributed to the decline. This prompted a temporary lull in the DeFi ecosystem, leaving many investors wondering if the glory days were over.
Signs of a New DeFi Summer:
Fast forward to mid-2023, and speculations are rife about the potential resurgence of DeFi Summer. Several factors indicate that the market might be on the brink of another token boom. Let's delve into the key drivers that could pave the way for a new wave of excitement.
Token Pumping and Speculation:
Recent observations of token pumping, such as Aaf PAM's 30% surge in 14 days and Uni Soviet Venus' 14% rise, indicate increased speculative activity. These price movements hint at the possibility of renewed interest and excitement in the DeFi space.
Political Factors and Market Performance:
Historical data from the S&P 500, spanning 84 years, reveals that the year preceding an election often witnesses the best market performance. As institutional investors take political conditions into account, the upcoming election cycle in the United States could potentially impact the DeFi market positively.
Global Banking Crisis and Alternative Investment Options:
The recent global banking crisis, which exceeded the severity of the 2008 crisis, has prompted troubled financial institutions to seek alternative avenues to park their funds. With its inherent benefits, DeFi has emerged as a viable option for institutional investors looking to generate returns and navigate the challenging economic landscape.
Surging Transaction Volumes in Decentralized Exchanges
Notably, the volume of transactions in decentralized exchanges, such as DYDX and Uniswap, has surpassed that of centralized exchanges like Coinbase. This shift towards decentralized platforms indicates growing interest and adoption of DeFi, further fueling the potential for another DeFi Summer.
Bitcoin Halving and Token Fervor:
The positive momentum generated by Bitcoin halving events has historically influenced the prices of other cryptocurrencies, including DeFi tokens. As the price of Bitcoin rises, investors often explore alternative tokens, leading to increased attention and demand for DeFi projects.
Conclusion:
While the possibility of a new DeFi Summer remains speculative, the signs of its resurgence are hard to ignore. Token pumping, political factors, the global banking crisis, transaction volumes, and the influence of Bitcoin halving all point towards the potential for another exciting phase in the DeFi space. However, as investors and enthusiasts, it is crucial to approach the market with caution, conducting thorough research and due diligence before making any investment decisions. With the crypto landscape constantly evolving, staying informed and informed is the key to navigating the path ahead.
Call to Action:
As the DeFi landscape evolves, it's essential to stay informed about the latest developments and trends. Engage with reputable sources, join communities, and connect with fellow enthusiasts to enhance your knowledge and understanding of the DeFi ecosystem. Remember, responsible and informed decision-making is crucial in the volatile world of cryptocurrencies. Are you ready to embrace the potential resurgence of DeFi Summer and be part of an exciting movement? Start by exploring and educating yourself today!
#DeFisummer #crypto2023 #Defi #DecentralizedFinance
The Birth of DeFi Summer: Exploring its Origins and Impact
DeFi Summer, which originated in the early 2020s, marked a significant milestone in the development of decentralized finance. It began with the rise of liquidity protocols and the subsequent appreciation of token values. The excitement surrounding DeFi Summer was so immense that even in August 2020, eligible community members received airdrops worth $1,200. Protocols like Pancake also experienced all-time highs, fueling the enthusiasm further.
The Rise and Fall: Analyzing the Factors Behind the Conclusion of DeFi Summer
Unfortunately, the previous DeFi Summer came to an end as institutional investors faced several hurdles. Issues such as hacking incidents, regulatory concerns, and the collapse of prominent platforms like Teraluna, Ero Capital, and FTX in 2022 contributed to the decline. This prompted a temporary lull in the DeFi ecosystem, leaving many investors wondering if the glory days were over.
Signs of a New DeFi Summer:
Fast forward to mid-2023, and speculations are rife about the potential resurgence of DeFi Summer. Several factors indicate that the market might be on the brink of another token boom. Let's delve into the key drivers that could pave the way for a new wave of excitement.
Token Pumping and Speculation:
Recent observations of token pumping, such as Aaf PAM's 30% surge in 14 days and Uni Soviet Venus' 14% rise, indicate increased speculative activity. These price movements hint at the possibility of renewed interest and excitement in the DeFi space.
Political Factors and Market Performance:
Historical data from the S&P 500, spanning 84 years, reveals that the year preceding an election often witnesses the best market performance. As institutional investors take political conditions into account, the upcoming election cycle in the United States could potentially impact the DeFi market positively.
Global Banking Crisis and Alternative Investment Options:
The recent global banking crisis, which exceeded the severity of the 2008 crisis, has prompted troubled financial institutions to seek alternative avenues to park their funds. With its inherent benefits, DeFi has emerged as a viable option for institutional investors looking to generate returns and navigate the challenging economic landscape.
Surging Transaction Volumes in Decentralized Exchanges
Notably, the volume of transactions in decentralized exchanges, such as DYDX and Uniswap, has surpassed that of centralized exchanges like Coinbase. This shift towards decentralized platforms indicates growing interest and adoption of DeFi, further fueling the potential for another DeFi Summer.
Bitcoin Halving and Token Fervor:
The positive momentum generated by Bitcoin halving events has historically influenced the prices of other cryptocurrencies, including DeFi tokens. As the price of Bitcoin rises, investors often explore alternative tokens, leading to increased attention and demand for DeFi projects.
Conclusion:
While the possibility of a new DeFi Summer remains speculative, the signs of its resurgence are hard to ignore. Token pumping, political factors, the global banking crisis, transaction volumes, and the influence of Bitcoin halving all point towards the potential for another exciting phase in the DeFi space. However, as investors and enthusiasts, it is crucial to approach the market with caution, conducting thorough research and due diligence before making any investment decisions. With the crypto landscape constantly evolving, staying informed and informed is the key to navigating the path ahead.
Call to Action:
As the DeFi landscape evolves, it's essential to stay informed about the latest developments and trends. Engage with reputable sources, join communities, and connect with fellow enthusiasts to enhance your knowledge and understanding of the DeFi ecosystem. Remember, responsible and informed decision-making is crucial in the volatile world of cryptocurrencies. Are you ready to embrace the potential resurgence of DeFi Summer and be part of an exciting movement? Start by exploring and educating yourself today!
#DeFisummer #crypto2023 #Defi #DecentralizedFinance
