DeFI News & Alerts

2021-09-25 08:25:52 Grape Network startup that broke Solana has raised $1.8 million

Grape Network, the project whose IDO broke Solana last week, raised a total of $1.8 million from venture capitalists in the infamous GRAPE token sale. Key contributor Dean Pappas said he didn't expect the public sale of his project's tokens to briefly disrupt the entire ecosystem.

On Thursday, the community toolkit developer completed a $1.2 million round led by Multicoin Capital. The venture funding followed last week's $600,000 public sale, which was so overheated by bot buyers that it shut down Solana's host blockchain for nearly a full day.

"We didn't do it intentionally," said Grape Network founder and major contributor Dean Pappas. "But we were one of the reasons it went down." Open / Comment

2021-09-23 14:03:43 Turkish authorities will continue to fight against cryptocurrencies

Back in April 2021, a ban on all transactions with bitcoin and other digital currencies came into effect in Turkey.

Late last week, the country's president, Recep Tayyip Erdogan, promised to maintain a tough course toward the cryptocurrency industry.

Ankara is not interested in any payment instrument other than the Turkish lira being used in the domestic market. Therefore, the government, together with other supervisory authorities, will prosecute companies that provide storage and exchange services for digital assets.

In parallel, Turkey is accelerating a project to create an electronic version of the lira, Erdoğan said during his speech to students.

He stressed that at the beginning of September this year, the testing of a platform for processing transactions with the Central Bank token tied to the Turkish national currency began. Open / Comment

2021-09-16 10:17:23 Arbitrum's TVL jumped to $1.5 billion

Ethereum Arbitrum One's convolution-based second-tier network for scaling is starting to see significant growth, with its total locked-in value (TVL) surging about 2,300% last week.

According to L2beat, an analytics platform for comparing Layer 2 protocols, TVL on Arbitrum recorded an ATH of $1.5 billion on Sept. 11, when DeFi enthusiasts rushed to invest in launching DApps early in development on the network.

Off-chain Labs launched Arbitrum's core network (ARB) after a $120 million funding round on Aug. 31. Since then, Ethereum transaction fees have risen to near-record levels, leading to a migration of liquidity to Layer 2 scaling solutions and competing Layer 1 solutions. Open / Comment

2021-09-11 18:21:01 Pollen DAO project raised $5 million to create a unified portfolio management system

According to Daily Coin, decentralized portfolio management protocol Pollen DAO has raised $5 million in investment. Data indexing protocol The Graph and cryptocurrency fund AlphaBit led the fundraising round.

Pollen DAO is positioned by the developers as a decentralized portfolio management protocol that supports the creation and distribution of DeFi portfolio and index tokens, generating income for their holders. The project thus claims to be "redefining the portfolio management approach and associated incentive structure," positioning itself as a "Uniswap of Asset Management."

Pollen has raised $5 million with the help of key strategic funders, including The Graph (GRT) and AlphaBit (ABC). Open / Comment

2021-09-03 12:22:44 BitPay wallet integrated with DEX network aggregator 1inch

Decentralized exchange aggregator 1inch has been integrated with the BitPay cryptocurrency wallet application, allowing users to access its rates for their crypto-swaps.

1inch Network, a major decentralized exchange aggregator (DEX) and automated market maker, is expanding its reach by partnering with experienced cryptocurrency wallet provider BitPay.

Both companies announced that DEX's 1inch aggregation feature is available to all users of BitPay Wallet, an app that allows individuals to manage, convert and spend 12 different cryptocurrencies through integration with ATMs, Apple Pay, Google Pay and Mastercard.

The 1inch Network partnership allows BitPay wallet users to use the DEX aggregator directly. Open / Comment

2021-09-02 14:57:18 NWC Platform 3.0 Update

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https://t.me/NWC_PublicChat Open / Comment

2021-09-02 10:58:32 dYdX has surpassed $1 billion in trading volume in the last 24 hours

According to CoinMarketCap, dYdX, a decentralized cryptocurrency derivatives trading platform, has surpassed $1 billion in trading volume in the last 24 hours, surpassing Uniswap V3 ($893 billion) and Pancakeswap, ranking first in the DEX trading volume.

"The dYdX transaction volume has increased nearly 84% in the last 24 hours, which can mostly be attributed to the large number of airdrop. The real demand for transaction volume may not be as good as the top two DEXs," Wu Blockchain wrote on the subject. Open / Comment

2021-08-28 08:38:22 BENQI Reaches $1 Billion TVL

BENQI's liquidity market protocol reached $1 billion TVL, less than a week after launching on the Avalanche Network (AVAX), a milestone that highlights the explosive growth of decentralized finance services (DeFi).

Benqi Finance announced the event on Twitter late Sunday night, where it thanked its community for its overwhelming support. The protocol brought in $200 million TVL in the first 24 hours and $500 million in the first two days, according to an August 21 update. At DeFi, the total locked-in value refers to the assets that are currently being put on a particular protocol. This figure does not represent outstanding loans, but the total supply that is secured by a particular application.

Industry-wide TVL data shows a massive surge in DeFi activity. As of this writing, nearly $160 billion in TVL has been reported across the entire DeFi ecosystem. Open / Comment

2021-08-23 13:34:49 Centric Swap has completed its migration to Binance Smart Chain

After two and a half years of using the TRON blockchain, cryptocurrency project Centric has completed its migration to Binance Smart Chain (BSC).

Centric announced its decision in May. Later that month, cybersecurity firm Iosiro completed an audit of the upgraded BSC smart contracts. Two days before the migration, Centric added the first BEP-20 Centric Swap (CNS) tokens to BSC's leading decentralized exchange (DEX), PancakeSwap (CAKE).

"Centric is much more than just a smart contract," said Centric COO Tommy Butcher. We created a whole ecosystem of partners. We needed to give our developers time to test everything before we did anything. The time it took to do it right paid off because it went very smoothly," Butcher said. Open / Comment

2021-08-14 09:33:13 The bZx lending protocol will be launched on Optimism

DeFi bZx " in the next few weeks" will be expanded with the Ethereum Layer 2 Optimism scaling solution. Over the past few months, bZx has been launched on BSC (Binance Smart Chain), Ethereum and Polygon. The use of Optimism is expected to reduce user transaction fees by a factor of 10-50.

"bZx will be the first margin trading, lending and borrowing platform to launch on Optimism. There is a huge demand for Layer 2 solutions like Optimism to provide an antidote to the expensive and volatile Layer 1 gas market," the statement said.

Optimism currently reduces users' underlying transaction costs by a factor of about 10-50. The table below shows savings by transaction type, which will improve significantly over time. Open / Comment