DeFi Updates

2024-03-10 20:42:00 Solana DeFi Landscape Thrives With Record $11 Billion Trading Volume

The Solana decentralized finance (DeFi) sector is experiencing a period of phenomenal growth, with decentralized exchanges (DEXes) witnessing record-breaking trading volumes and the native token, SOL, reaching a new 20-month high. However, amidst the euphoria, experts advise caution due to potential market risks.

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2024-03-10 09:53:01 DeFi TVL reaches $100B as Bitcoin pumps sentiment

The demand for Bitcoin is fueling sentiment around the crypto industry, driving the capital locked on-chain to over $100 billion on March 9. According to data from DefiLlama, the global total value locked (TVL) in decentralized finance (DeFi) protocols reached $100.1 billion, with more than $10 billion in volume in the past 24 hours at the time of writing. However, these figures still fall short of the $189 billion record set in November 2021.

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2024-03-09 20:10:22 Criminals Target Defi Platforms, Steal More Than $67 Million in February Alone

In February alone, criminals stole digital funds worth over $67 million from decentralized finance (defi) platforms. The latest Immunefi data shows that hacking attacks accounted for more than $65 million, or 97% of the month’s losses. The Ethereum blockchain suffered the most individual attacks, with 12 incidents representing 85.71% of the total losses across targeted chains.

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2024-03-09 10:35:13 VLVT DeFi Announces an App Store Update in the Digital Asset Industry

VLVT DeFi, a leading force in the decentralized finance (DeFi) space, is thrilled to announce a significant update to its app store, setting a new standard for innovation and user experience in the rapidly evolving digital asset industry. VLVT DeFi's development team introduces a host of cutting-edge features and improvements designed to empower users with enhanced functionality, security, and accessibility within the decentralized financial ecosystem.

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2024-03-08 19:52:01 $84.5bn in derivative volumes push DeFi yields to highest levels in two years

According to DefiLlama’s yield overview page, GMX or protocols that operate on top of GMX now offer four out of the top 10 highest yields for protocols that have at least $10 million in deposits. Perpetual futures, often referred to as perpetual swaps or simply “perps,” are a derivative contract that enables traders to bet on the future value of an asset indefinitely without an expiration date.

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2024-03-08 11:32:01 Solana DeFi Protocol Kamino Sets KMNO Token Airdrop for April

Solana-based DeFi protocol Kamino plans to airdrop its KMNO token in April after taking a snapshot of eligible users on March 31. "The amount of points you have will contribute to the amount of tokens you will get," Thomas, a contributor to Kamino, said on a monthly Solana developer call, explaining that the protocol will employ mechanisms to prevent airdrop farmers from sybil attacking the system with multiple wallets.

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2024-03-07 20:15:00 DeFi pump-and-dump schemes rake in millions, harm industry credibility

The cryptocurrency space has been compared to the Wild West numerous times, and while it has been maturing to resemble the world of traditional finance more closely, in the decentralized finance (DeFi) space, the “wild” ethos remains, with freewheeling trading activity often leading to pump-and-dump schemes and wash trading. On the Ethereum network alone, according to a recent Chainalysis study, over 370,000 tokens were launched in 2023, with 168,600 listed on decentralized exchanges (DEXs).

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2024-03-07 11:10:14 Uniswap Foundation token rewards proposal passes temperature check vote

The Uniswap Foundation's proposed changes to the governance of the popular decentralized exchange Uniswap, including altering its fee mechanism to reward users who delegate and stake their tokens on the platform, has unanimously passed a temperature check vote. The temperature check vote — a snapshot poll to gauge initial Uniswap community sentiment on moving ahead with the proposal — began on March 1 and passed with 100% of delegates in favor after ending today at 1:30 p.m. ET.

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2024-03-06 19:10:29 DeFi Platform Woofi Exploited: Hackers Reportedly Swipe $8.75M in Cryptocurrencies

Decentralized finance (DeFi) platform Woofi fell victim to a sophisticated attack, resulting in the illicit extraction of $8.75 million in cryptocurrencies. The hackers attacked Woofi Swap's Synthetic Proactive Market Making (sPMM) algorithm on March 5th, which is the backbone of the pricing mechanism on the Arbitrum network. According to a recent report from the Woofi team, the attackers utilized a pattern of flash loans to manipulate the value of Woofi's native token, WOO.

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2024-03-06 09:52:01 DeFi TVL breaks $100 billion for first time since May 2022

The total value locked (TVL) in decentralized finance (DeFi) protocols exceeded $100 billion for the first time in nearly two years. On March 5, DeFi TVL reached $101.36 billion, with lending accounting for $32.62 billion (32.2%) of this total, with decentralized exchanges at $19.97 billion (19.7%), collateralized debt positions at $12.22 billion (12%), and restaking activities at $10.06 billion (9.9%). The last time the TVL in DeFi surpassed $100 billion was on May 11, 2022, according to The Block's Data Dashboard.

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