DeFi Check

2021-10-02 09:31:54 Angle Labs raised $5 million

Angle Labs, a startup specializing in offering stabelcoins tied to currencies such as the euro as an alternative to dollar-oriented tokens, has raised $5 million in a funding round led by Andreessen Horowitz (a16z).

Also included in the seed round announced Tuesday were Fabric VC, Wintermute, Divergence Ventures, Global Founders Capital, Alven, Julien Bouteloup and Frederic Montagnon. Angle's Euro Stablecoin, which is backed by perpetual swaps, satisfies an urgent need throughout the growing universe of decentralized finance (DeFi), says Angle Labs principal Pablo Weirat.

"I started working on the project in January while I was at Stanford and having fun with Compound, getting some returns on USDC. But I live in France and realized I was exposed to exchange risk with my USDC," Weyrat said. Open / Comment

2021-09-23 14:03:29 VanEck offered ETN products working with Tron, Solana and Polkadot

ETF and mutual fund management company VanEck has offered ETN products working with Tron, Solana and Polkadot in Germany. In this way, investors are given the opportunity to join the hype that has arisen over tier one alternatives to the Ethereum network

VanEck wants to cover the cryptocurrency sphere as broadly as possible. The company currently offers a Bitcoin Tracker Fund, which provides accredited U.S. investors and qualified offshore investors with direct exposure to cryptocurrency.

So far, VanEck has filed applications with the SEC for a Bitcoin Direct ETF as well as a Bitcoin Futures ETF. In addition, there was an application to launch a futures ETH ETF, but the company quickly withdrew it. Open / Comment

2021-09-11 18:21:47 Divergence options and derivatives protocol launches its own DIVER token on SushiSwap MISO

Divergence, the decentralized volatility options and derivatives protocol, announces the upcoming public sale of its own token, DIVER, on the MISO SushiSwap launch panel.

In this token sale, Divergence plans to sell 20 million DIVERs, equivalent to 2% of the total number of DIVER tokens. The token sale will be conducted by the Dutch auction method starting at 10 p.m. on the 20th Korea time, and the starting price of each auction is $0.1.

"The Divergence community has grown significantly over the past three months. We have grown from a little-known project to one with tens of thousands of followers on social media. We want to thank all the Diversgence partners, investors, family, friends and everyone who has been with us since the beginning of our journey. Everything we do would not have been possible without your support!", reads the message. Open / Comment

2021-09-02 10:59:18 Waterfall DeFi, a risk diversification protocol, has raised $2 million in seed funding

The investment will be used to further develop, deploy and market Waterfall DeFi to become the "first true risk diversification DeFi protocol" to help users better optimize their revenue farming strategies.

Waterfall DeFi announced the completion of $2 million in funding led by GBV Capital, Divergence Ventures and Ascensive Assets, joined by other key strategic investors including AscendEX, ROK Capital, Boxmining, Genblock Capital, Marshland Capital, Morningstar Ventures, One Block Capital, Portico Ventures, Synaps as well as well-known angels from the decentralized finance sector including CREAM Leo Cheng from Finance, Kevin Tai from Linear Finance and Xingshu Dong from IOSG Ventures. Open / Comment

2021-08-23 13:34:15 FinTech Collective raised $250 million for new DeFi strategy

FinTech Collective, a venture capital firm investing in fintech and digital assets, has raised $250 million in new capital. Here's how it will dispose of it.

The $200 million will be invested in the firm's existing early-stage strategy, which focuses on financial technology and digital assets, while $50 million will be allocated to the newly formed Decentralized Finance Fund (DeFi).

According to the announcement, the DeFi fund will invest in both stocks and tokens related to "compliant financial protocols and open-source applications that are built on smart contract platforms such as Ethereum."

Fintech Collective was "one of the first venture capital firms to recognize the fintech opportunities that emerged from the global financial crisis." Open / Comment

2021-08-14 09:32:57 Hacker steals $600 million from PolyNetwork

An unknown hacker stole $611 million in digital equivalent from PolyNetwork. According to representatives of the Chinese auditor BlockSec, the theft could have occurred because the private key used to sign inter-network messages was lost or a mistake was made in the process of signing messages.

Weak information security measures could have been the cause, leading to the loss of the private key. PolyNetwork uses a wallet that has multiple signatures for transactions at once. A hacker could have gained access to one of the signatures, but this is not the final conclusion.

In the end, the hacker who committed the largest theft announced that he would return the money in full. It is not clear what guided the attacker in his actions, but his final move would be this. He published his decision through a transaction to himself, attaching a text to it. Open / Comment

2021-08-06 15:19:17 MEXC Places CherrySwap (CHE) in Innovation Zone

Cryptocurrency exchange MEXC Global has placed AMM DEX CherrySwap (CHE) token in Innovation Zone and opened trading for CHE/USDT trading pair. Deposit and withdrawal have already been activated. Trading started on August 2, 2021 at 3:00 p.m. worldwide coordinated time.

CherrySwap (CHE) is an automated decentralized exchange and DeFi protocol based on OKExChain (OEC).

It uses the Automated Market Maker Mechanism (AMM) and aims to achieve self-creation of liquidity through a variety of features such as liquidity mining, IFO, NFT, lottery and DAO to provide maximum value bonuses to participants. Open / Comment

2021-08-02 13:00:13 Banger Games has partnered with Chainlink to randomize game rewards

Banger Games is a "play and earn" gaming ecosystem for gamers, developers, and organizations to collaborate in a decentralized economy, create decentralized gameplays for the community with SMART tournaments, and release NFTs.

Today the project team announced an integration with Chainlink, a decentralized blockchain-based oracle network for randomization verification of game rewards.

Banger Games will use Chainlink's verifiable randomization feature to generate and provide cryptographically secure randomization to make its rewards system fair and transparent to all users. Open / Comment

2021-07-28 20:15:53 Secret Network adds private management to its DeFi project

Privacy-focused Secret Network is launching private management on the chain for SecretSwap, its automated market maker.

SecretSwap works similarly to Uniswap or SushiSwap, but also has privacy features, including "front-loading" resistance, which is a bot attack (or trade) strategy on the Ethereum network in which a bot gets a transaction first in the execution queue, just before a known future transaction occurs.

Running the management tool means that SEFI SecretSwap token holders can vote in the private system by default. In a blog post announcing the launch, the community said it would help "secure the integrity and sovereignty of decentralized SecretSwap governance." Open / Comment

2021-07-21 12:13:17 DeFi NAOS Finance's lending protocol has launched on the main network

According to official sources, DeFi NAOS Finance's lending protocol has announced the launch of its core network, Formation, and liquidity mining will begin at 2 p.m. on July 14.

Formation allows users to borrow nUSD's new synthetic derivative by depositing Stablecoins and generate collateral income through the NAOS single currency pool, NAOS/ETH and nUSD/CRV LP liquidity provider pools.

It was previously reported that NAOS Finance received strategic investments from investment institutions such as Coinbase Ventures, HuobiDeFiLabs, OKEx Blockdream Ventures, Spartan, HashKey Capital, Mechanism Capital, etc.

The NAOS financial platform includes two components: a liquidity mining protocol and a Galaxy credit agreement. Open / Comment