DeFi Updates

2024-04-23 19:25:28 DeFi whales have millions ‘forgotten’ in bridge contracts: Arkham

Several identified crypto addresses have millions of dollars either “stuck” or “forgotten” about in at least two large bridge contracts, according to blockchain intelligence firm Arkham. “There are dozens of accounts with 6-7 figures stuck in bridge contracts, forgotten about,” said Arkham in an April 22 X post., including wallets connected to Ethereum co-founder Vitalik Buterin, crypto exchange Coinbase, and several DeFi whales.

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2024-04-23 08:52:01 Umoja Integrates Portal DeFi Enabling Trustless Swapping of Lower Risk, Higher Yield Assets on Bitcoin

Umoja, the world's first DeFi protocol to structure low-risk, high-yield digital assets, today announced an integration with Portal DeFi, the world's first trust-minimized Layer 2 cross-chain swaps protocol that involves no bridges, custody, or wrapping. The partnership will integrate Bitcoin’s first high yield synthetic dollar, USDb, and the native $UMJA token into the Portal DEX Network, making it one-click, cross-chain tradable with Native BTC, BRC20s, and native assets on various chains.

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2024-04-22 19:22:14 L2 volume on Uniswap has officially passed $250B — link

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2024-04-21 21:02:02 Saddle Raises $7.5M to Reduce Slippage in DeFi Trading

Saddle, an open-source automated market maker (AMM) for trading between pegged value crypto assets, has closed a $7.5 million funding round led by Polychain and Electric Capital with participation from Nascent, Project Galaxy and others. The fundraise follows a $4.3 million raise in January. Founded in 2020, San Francisco-based Saddle is a decentralized AMM on the Ethereum blockchain that’s optimized for tokens that have their value pegged to an underlying asset in some way.

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2024-04-21 10:01:58 Navigating the Future of DeFi at Zeebu by the Beach

The event extended the professional dialogue of TOKEN2049 into a more relaxed, yet engaging environment. This approach reflected a broader industry trend where the boundaries between formal business exchanges and casual networking are increasingly blurred. “Zeebu by the Beach” capitalized on this by offering an atmosphere that encouraged informal yet fruitful discussions among attendees.

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2024-04-20 21:01:57 Ethereum aims for $1 billion annual profit as DeFi gains momentum in Q1

Ethereum is on track to reach a $1 billion annual profit, driven by the surge in decentralised finance (DeFi) activities and the network's robust performance in the first quarter of 2024. In a report by Michael Nadeau, an analyst at The DeFi Report, released on April 17, Ethereum's Q1 income reached an impressive $365 million, representing a 155% year-on-year quarterly revenue growth and a remarkable 200% increase compared to the $123 million profit recorded in Q4 2023.

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2024-04-20 10:52:01 DeFi platform Hedgey Finance hit by $44 million exploit

Hedgey Finance, a token infrastructure platform, has suffered two parallel exploits amounting to a total of $44.7 million worth of lost funds. Hedgey suffered an exploit worth over $42.8 million Arbitrum (ARB) tokens on the Arbitrum network, according to an April 19 X post by on-chain security firm Cyvers. The attacker has already deposited part of the funds to the Bybit cryptocurrency exchange.

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2024-04-19 20:52:01 Ethereum liquid restaking drove DeFi TVL to $100B in first quarter

Decentralized finance total value locked (TVL) almost doubled in the first three months of this year compared to the previous quarter, partially driven by Ethereum liquid restaking initiatives, according to recent research. DeFi total value locked surged from a Q4 2023 low of $36 billion to peak at almost $97 billion in the first quarter of 2024, according to DefiLlama. Since the beginning of the year, it has increased by 81% to a two-year high of $98 billion last week.

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2024-04-19 10:52:01 DeFi Technologies Subsidiary Valour Inc. Launches the First Short Spot Bitcoin ETP in the Nordics

DeFi Technologies Inc. (the "Company" or "DeFi Technologies") (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF), a financial technology company that pioneers the convergence of traditional capital markets with the world of decentralised finance ("DeFi"), is pleased to announce that its subsidiary Valour Inc. ("Valour"), a leading issuer of exchange traded products ("ETPs") that provide simplified access to digital assets, is breaking new ground in the Nordic financial markets with the launch of the region's first Short Spot Bitcoin ETP.

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2024-04-18 20:41:58 Aptos Strikes DeFi Partnership With Microsoft, Brevan Howard, SK Telecom

Aptos Labs, the developers behind the Aptos layer-1 blockchain, said it is collaborating with Microsoft, Brevan Howard and South Korean wireless telecommunications operator SK Telecom to offer institutions a gateway into decentralized finance. The partnership will offer Aptos Ascend, a suite of end-to-end institutional solutions like regulatory requirement help, tools to maintain account and transaction privacy and embedded features for know-your-customer (KYC) checks.

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