DeFi Updates

2024-02-29 11:46:02 Bitcoin staking chain BounceBit secures $6M to bring DeFi to BTC

BounceBit, an infrastructure provider enabling BTC staking, announced today that it has raised $6 million in a funding round led by Blockchain Capital and Breyer Capital. The company aims to build infrastructure that allows Bitcoin holders to earn yields through a restaking mechanism. The round included backing from several notable blockchain venture funds including dao5, CMS Holdings, Bankless Ventures, NGC Ventures, Primitive Ventures, and Arcane Group.

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2024-02-28 22:05:31 B2 Network Brings DeFi to Bitcoin via Bitget Wallet

Bitget Wallet, Asia's largest non-custodial Web3 wallet, has announced a new partnership with Bitcoin Layer 2 company B2 Network. The collaboration will give Bitget Wallet's over 15 million global users access to B2 Network's cross-chain transactions directly through Bitget's mobile and browser-based applications. As an EVM-compatible Bitcoin Layer 2 solution built on zero-knowledge proofs, B2 Network enhances transaction speeds and expands application possibilities without compromising security.

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2024-02-28 11:52:02 DeFi risk manager Gauntlet partners with Morpho days after dumping Aave

Decentralized finance (DeFi) risk management firm Gauntlet has teamed up with DeFi lending protocol Morpho just days after its abrupt split with Aave. The partnership announced on Feb. 27 sees Gauntlet creating its own lending products on MorphoBlue, a new protocol that allows firms to spin up their own lending and borrowing pools dubbed “vaults.” MorphoBlue, however, will effectively give risk managers the ability to create and manage their own lending protocols.

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2024-02-27 23:17:00 DeFi TVL surpasses 22-month high as market goes bullish

The decentralized finance (DeFi) total value locked (TVL) has reached 22-month highs as the broader crypto market witnessed a notable surge. According to data provided by Defi Llama, the global DeFi TVL increased by $27.6 billion since Feb. 1 — rising from $59.44 billion to $87.12 billion at the time of writing — a level not seen since May 2022. Per Defi Llama, Lido Finance’s TVL is currently hovering at $31.87 billion followed by AAVE with a TVL of $9.24 billion.

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2024-02-27 12:34:02 DeFi trader rides EigenLayer airdrop hype to secure 40% yield

EigenLayer continues to grow, with over $8.4 billion in deposits after announcing a raise of $100 million from a16z earlier this month. There are already a slew of liquid restaking protocols whose sole purpose is to take staked Ether and deposit it into EigenLayer to earn points. Points are expected to convert to tokens sometime in the second quarter. But for those who don’t want to chase the allure of an airdrop, EigenLayer inadvertently provides some very enticing yields on Ether.

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2024-02-26 21:05:27 Emerging DeFi sensation Retik Finance (RETIK) presale sold out, raises more than $32 million

Retik Finance (RETIK), a decentralised finance platform aiming to revolutionise the way individuals interact with financial services. With its recent presale culminating with a sold-out status and raising over $32 million, Retik Finance has solidified its position as an emerging DeFi sensation. Here’s a look at the success parameters of Retik Finance's presale and the excitement surrounding the project.

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2024-02-26 08:52:03 SUN.io and HTX DAO Forge DeFi Partnership to Boost User Support

SUN.io announced a strategic partnership with HTX DAO. This advances blockchain collaboration. This partnership aims to boost user support and ecosystem money flow. Through this partnership, HTX DAO hopes to donate at least 80% of its quarterly liquidity donations to the HTX-TRX Liquidity Pool (LP), which will benefit SUN.io. With the projected revenues of the HTX exchange (formerly Huobi) for 2022 and 2023, the token value locked (TVL) liquidity on SUN.io is anticipated to surpass $100 million by 2024. It constitutes over 20% of SUN.io’s total TVL.

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2024-02-25 21:15:01 Defi's Total Value Locked Hits $80 Billion in a Dramatic Turnaround Since 2022

Recent data reveals that the total value locked (TVL) in decentralized finance has jumped past the $80 billion milestone, reaching heights not observed since the downfall of Terra’s stablecoin in May 2022. Leading the charge in 2024 by TVL size is Lido’s liquid staking platform, with ether-based liquid staking derivatives (LSDs) securing a dominant position with $41 billion in TVL.

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2024-02-25 10:22:02 Curve Finance unveils new defi lending contracts

The introduction of lending contracts by Curve Finance opens up new avenues for arbitrage traders, presenting them with the opportunity to potentially secure substantial profits. The deployment of these lending contracts signifies Curve’s entry into the competitive defi lending market. By allowing users to lend their assets through smart contracts, Curve is diversifying its offerings and providing its users with more ways to participate in the defi ecosystem.

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2024-02-24 21:22:01 Singularity attracts $2.2 million to develop KYC-compliant DeFi platform for institutions

Singularity Network, a protocol catering to institutional investors seeking confidential access to DeFi, raised $2.2 million in its second funding round that concluded in late 2023. The funding round was spearheaded by Gumi Crypto Capitals, with participation from notable investors like Eureka Partners and Nomura’s digital asset subsidiary, Laser Digital. Other participants in this round included Digital Assets Capital Management, Gandel Invest, and Apollo Crypto—these firms had backed Singularity during its seed round.

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