DeFi Protocol

2021-08-23 13:34:10 DeFi weekly swaps reach $17 billion

Trading volume on decentralized exchanges (DEX) reached $17 billion on 21 Ethereum platforms. On BSC, Pancakeswap showed a turnover of $400,000 to $860,000 every 24 hours during the past week. Meanwhile, DEX aggregators are ramping up trading volumes.

The Decentralized Exchange (DEX) trades billions of dollars worth of swaps every week. In the past seven days, DEX's trading volume on 21 Ethereum-based platforms has reached $17 billion. Global swaps on the 21 DEX platforms totaled $2.95 billion in the last 24 hours and DEX aggregators totaled $3.8 billion in 24 hours. According to Dune Analytics statistics, DEX aggregators such as 1inch now account for about 22.7% of DEX trading volume.

Currently, the top DEX aggregator is 1inch, followed by 0x API. These two DEX aggregation platforms are followed by Matcha, Paraswap and Tokenlon. Open / Comment

2021-08-14 09:32:52 NFTs have overtaken DeFi as Ethereum's top gas consumer

Non-exchangeable tokens (NFTs) have become the top gas consumer on the Ethereum blockchain, surpassing decentralized finance projects.

OpenSea's NFT marketplace came out on top of the list of Ethereum's largest gas consumers with a share of more than 10%. This exceeds the combined consumption of the second and third versions of the decentralized exchange Uniswap, which has long held the primacy. Uniswap is followed invariably by Tether stabelcoin. The NFT gaming platform Axie Infinity is also in the lead.

Last week, the Ethereum blockchain saw the activation of the London update, the main innovation of which was the EIP-1559 commission-burning mechanism. OpenSea is also the leader in terms of ether coins taken out of circulation with 3,368.43 ETH ($11 million). In total, 26,888 ETH worth $87 million have been destroyed since the update. Open / Comment

2021-08-06 15:19:12 Cream Finance has integrated the Zapper deposit feature into the ETH v1 marketplace

Secured lending platform DeFi Cream Finance recently announced on its official Twitter that it has integrated the deposit feature from the DeFi Zapper dashboard into the ETH v1 marketplace. Users can use Zapper's deposit and loan features on the Cream Finance ETH v1 marketplace and earn interest income for doing so.

In addition, the DeFi Cream Finance (CREAM) secured lending platform announced today on Twitter that it has begun supporting Tokenlon Network Token (LON) on the CREAM v1 ETH platform as a pledged asset.

Accordingly, users can lend and lease matching tokens on the Cream platform. Open / Comment

2021-08-02 13:00:08 dYdX and Hummingbot have launched a rewards program

dYdX, a decentralized cryptocurrency derivatives trading platform, announced on its official Twitter that it will hold a new strategy reward program with a total prize pool of $15,000 in collaboration with open-source automated trading software Hummingbot.

The dYdX bug bounty program will officially launch Aug. 9, with bug reports possible through Oct. 1.

"We are pleased to announce a new round of rewards to challenge the Hummingbot developer community! Hummingbird is working with us to distribute $15,000 in prizes to all creative hackers and developers who help grow the Hummingbot open source, community driven project," dYdX said in a statement. Open / Comment

2021-07-28 20:15:47 Ferrum integrates Chainlink solutions, starting with Chainlink VRF

Ferrum Network integrates multiple Chainlink solutions to deliver blockchain services to a wider audience.

"The crypto industry is a field that uses composite technologies that come together to create more value than individual components. At Ferrum, we continually strive to create meaningful and mutually beneficial integrations that add value to both the communities involved and the blockchain industry as a whole," the statement reads.

To that end, Ferrum Network is integrating the industry-standard Chainlink oracle solution for a number of unique initiatives.

"We are already working through several integrations with Chainlink, the first of which has already gone into production, including Ferrum Network using Chainlink VRF to identify addresses for presale token distribution in a provably fair and tamper-proof manner," Ferrum said. Open / Comment

2021-07-21 12:13:10 TendieSwap's BSC forecasting market integrates Chainlink price streams

TendieSwap has integrated Chainlink oracles into Binance Smart Chain (BSC) to provide settlement in P2P forecasting markets. The initial integration includes the use of Chainlink price feeds for BTC, DOGE and BNB to support cryptocurrency prediction markets.

TendieSwap is also reportedly working to provide additional Chainlink-based data feeds on other financial market events, stock price forecasts, sports matches, election results, weather conditions and more.

The developers of the prediction protocol believe that "this will strengthen TendieSwap's position in the decentralized prediction markets for both DeFi and any binary or ternary user prediction market." Open / Comment

2021-07-17 07:59:15 Cryptocurrency derivatives marketplace Beta Finance attracted strategic investment

Beta Finance received strategic investments from Spartan Group, ParaFi Capital, Multicoin Capital, DeFiance Capital and Delphi Digital. The amount of the investment was not disclosed.

"We are pleased to see Beta Finance opening up new utility for digital assets that have historically been neglected. We believe Beta's focus on new assets, an isolated collateral model, cross-network support and support from the Alpha ecosystem will push the boundaries of credit markets within the network. We look forward to supporting the Beta team in their quest to become a liquidity hub for DeFi," said Anjan Vinod, ParaFi Capital

Beta is an ever-evolving, permission-free money market with a focus on providing access to long-tail assets and facilitating short asset positions. Open / Comment

2021-07-12 08:45:22 Solrise Finance raised $3.4 million

Solrise Finance, a Solana-based fund and investment management protocol, said it has raised $3.4 million in a funding round that included Alameda Research. The capital will reportedly be used to make the DeFi ecosystem more accessible to a wider audience of investors.

CMS Holdings, Delphi Digital, Jump Capital, Parafi Capital, DeFi Alliance, Reciprocal Ventures and Skyvision Capital also invested.

Solrise Finance (SLRS) says it allows users to allocate capital among actively managed funds, helping make decentralized finance (DeFi) more accessible to a wider audience of investors. He says his platform helps reduce transaction costs.

The platform also allows users to create their own funds with access to assets from across Solana. Open / Comment

2021-07-07 12:03:02 Dropil agreed to plead guilty to $1.9 million ICO fraud

The U.S. Department of Justice (DOJ) announced that the founders of cryptocurrency project Dropil (DROP), Jeremy McAlpin and Zachary Matar, have agreed to plead guilty to nearly $1.9 million in ICO fraud.

According to the indictment, they sold DROP tokens to thousands of investors, with the funds raised allegedly intended to fund the activities of the Dex trading bot.

According to the DOJ, neither McAlpin nor Matar are registered with the U.S. Securities and Exchange Commission (SEC). Prosecutors added that the defendants made "a series of false statements to investors in a white paper" on Dropil's website and Twitter profile to "promote the success of cryptocurrency."

"Defendants manufactured fake reports about Dex's profitability and translated DROP to Dex users, creating a false impression of its functionality and profitability," the agency said in a statement. Open / Comment

2021-07-03 14:30:54 Deri Protocol V2 launches on Polygon

Deri's derivatives management protocol has begun the transition phase to Polygon, which provides enhanced accessibility with faster confirmations and lower gas fees for Deri V2 users.

"We believe the launch of Polygon will expand Deri's capabilities to more users and add value to the entire Deri ecosystem. LPs on Deri's Ethereum pools can now move liquidity from Deri V1 on Ethereum to Deri V2 on Polygon to enjoy smoothness and lower costs," Deri developers said in a statement.

Deri Protocol (DERI) is a decentralized protocol that allows users to exchange risk accurately and efficiently. It is DeFi's way of trading derivatives: hedging, speculation, arbitrage - all onchain. This is achieved by having liquidity pools act as counterparties for users. Open / Comment