DeFi Updates

2024-04-18 11:25:17 The new Fintopio DeFi Wallet launches in open beta on Telegram and web app

Fintopio, a Web3 company creating a wallet that enables digital asset sending and receiving via messaging apps, recently launched the beta version of the Fintopio DeFi Wallet. This launch is Fintopio’s first salvo in its mission of improving and simplifying digital asset transactions. The Fintopio DeFi wallet has been launched via Telegram bot and web app, and the company is working on a mobile application for iOS and Android. Fintopio's DeFi Wallet is built on Telegram, a messaging tool with 900 million monthly active members.

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2024-04-17 20:51:59 DeFi Firm Usual Labs Raises $7M Round Led by Kraken Ventures and IOSG Ventures

Usual Labs, the firm behind the decentralized finance (DeFi) protocol Usual, has raised $7 million and received $75 million commitment in total value locked (TVL) for the launch of its stablecoin USD0, the company said in a statement on Wednesday. The French company raised money from more than a hundred firms, including two leading co-investors, IOSG Ventures and Kraken Ventures. Other investors included GSR, Mantle, Starkware, Flowdesk, Avid3, Bing Ventures, Breed, Hypersphere, Kima Ventures, Psalion, Public Works and X Ventures.

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2024-04-17 10:42:01 Runes Will Help Bitcoin DeFi ‘Close the Gap’ on Ethereum, Solana: Franklin Templeton

The launch of Runes will help Bitcoin “close the gap” with Ethereum and Solana in the fungible digital asset space, investment firm Franklin Templeton Digital Assets said in a new report released Monday. “Currently the fungible token market for Bitcoin is quite small in comparison to ETH and SOL,” the investment firm said. “However, with the launch of a more efficient token standard (Runes), Bitcoin is positioned well to close the gap between its fungible market cap versus that of other blockchains.".

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2024-04-16 20:25:25 ICP’s Schnorr integration ushers in Bitcoin DeFi era

The Internet Computer Protocol (ICP) plans to use advanced threshold cryptography to unlock decentralized finance capabilities and smart contract functionality on Bitcoin’s base layer. Speaking to Cointelegraph during Paris Blockchain Week, Dfinity senior research scientist Aisling Connolly outlined how ICP’s integration of threshold-Schnorr signatures will enable the protocol’s smart contracts to obtain addresses and authorize transactions directly to the Bitcoin blockchain.

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2024-04-16 10:25:19 An atomic swap protocol aims to bring DeFi on Bitcoin without wrapped tokens

AtomiqDeFi, powered by Mintlayer’s innovative atomic swap technology, aims to enhance interoperability, eliminate reliance on custodians and unlock new possibilities for decentralized finance on Bitcoin. Creating a decentralized finance (DeFi) ecosystem on Bitcoin had never gained mainstream blockchain adoption before the Taproot upgrade, which has opened the door to smart contracts —self-executing codes that eliminate intermediaries— on Bitcoin’s layer 1 blockchain.

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2024-04-15 19:52:01 DeFi-Focused Berachain Raises $100M in Funding Round Led by Brevan Howard Digital

Decentralized finance (DeFi) -focused Layer 1 blockchain platform Berachain, announced it has secured $100 million in a funding round led by Brevan Howard Digital and Framework Ventures. In an announcement made using the social media platform X, the firm said additional funding came from Polychain Capital, Samsung Next, Hack VC, Animoca Brands, and Hashkey Capital, as well as Polygon co-founder Sandeep Nailwal and more.

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2024-04-15 10:15:16 Crypto sleuth warns of scammers behind DeFi protocol

Pseudonymous blockchain investigator ZachXBT issued a warning about a group of scammers attempting to entrap more victims in a new fraud using millions of stolen funds. In a thread on X, ZachXBT disclosed the findings of an investigation over Leaper Finance, a lending protocol based on Blast. According to the analysis, the group is behind several rug pulls, including those that hit users of Magnate ($6.5 million), Kokomo ($4 million), Solfire ($4.8 million), and Lendora.

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2024-04-14 09:22:01 Ripple CTO 'Very Excited' About New XRPL Lending Protocol Proposal for DeFi Expansion

David Schwartz, the CTO at Ripple, has published a comment on the recent proposal of a native lending protocol to be launched on XRPL. His comment is all the more interesting since Schwartz was one of those software engineers who built this ledger.Schwartz tweeted to approve the above-mentioned proposal made by developers Aanchal Malhotra (also the head of research at RippleX) and Vito Tumas, submitting it for review and feedback. The Ripple CTO said that if this proposal is passed, it will add new utility to XRP Ledger.

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2024-04-13 17:52:01 MarginFi outflows $190M as CEO rage quits amid token controversy

Nearly $200 million of user funds have exited Solana-based lending protocol MarginFi over the last two days amid an abrupt resignation of the platform’s CEO and followed by accusations of wrongdoing from its competitors. On April 10, the now-former CEO of MarginFi, Edgar Pavlovsky, suddenly announced he had resigned from MarginFi, citing disputes that had arisen from both within his firm and from outside of it.

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