DeFi Updates

2024-05-10 09:25:17 Uniswap frontend is feeling the pressure since fee hike

Uniswap Labs increased the fee to swap on its interface from 0.15% to 0.25%. The fee applies to most, but not all, swaps that are executed using the Uniswap web interface and wallet. Traders can use aggregators, alternate UIs, or go directly through the smart contract to make swaps. When the fee was first introduced in October 2023, Uniswap founder Hayden Adams said it would allow his team to “continue to research, develop, build, ship, improve, and expand crypto and DeFi.”.

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2024-05-09 20:02:03 UK’s FCA Seeks Balanced Crypto Regulation By Merging TradFi And DeFi Approaches

The UK’s Financial Conduct Authority (FCA) aims to strike a balance in regulating cryptocurrencies by merging the best elements of traditional finance (TradFi) and decentralized finance (DeFi). Matthew Long, the FCA’s director of payments and digital assets, emphasizes the necessity of this strategy for effective regulation during his speech at the FT Crypto and Digital Assets Summit on May 8.

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2024-05-09 09:25:13 Crypto lending platform Nexo allocates $12M for ecosystem incentives

Crypto lending protocol Nexo is allocating 10 million NEXO tokens, worth $12.5 million at the time of publication, to its users. "Stack points, multiply your gains, and unlock more surprises," wrote Nexo developers on May 8 regarding the protocol's sixth anniversary. "The Nexonomics-inspired hunt is designed to reward new and existing users for exploring the Nexo ecosystem.".

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2024-05-08 19:42:01 FCA crypto regulators will take the best from TradFi and DeFi, says exec

The United Kingdom’s FCA has been combining different approaches to regulating the crypto market to see which one would work best. When it comes to regulating cryptocurrencies like Bitcoin , financial authorities in the United Kingdom aim to take the best of traditional finance (TradFi) and decentralized finance (DeFi), according to an executive at the Financial Conduct Authority (FCA).

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2024-05-08 08:52:02 2 Bitcoin L2 Projects Secure Investments to Enhance Bitcoin’s Defi Capabilities

On Tuesday, two Bitcoin-centric layer two (L2) initiatives successfully secured funding from strategic investors. Botanix Labs, a startup focused on developing a decentralized Turing-complete L2 EVM (Ethereum Virtual Machine), garnered $11.5 million. Meanwhile, the Bitcoin L2 ZKM attracted $5 million during a pre-seed investment phase.

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2024-05-07 20:11:59 Botanix Labs raises $8.5 million to build a Bitcoin-native DeFi ecosystem

Bitcoin development startup Botanix Labs has raised $8.5 million in a seed series funding round from Polychain Capital, Placeholder Capital, Valor Equity Partners and ABCDE to build a Bitcoin-native DeFi ecosystem. Angel investors, including Andrew Kang, Fiskantes, Dan Held, The Crypto Dog, Charlie Spears, Altcoin Sherpa, Dovey Wan, Jebus, Icebergy, Crypto ISO, Davis (a.k.a., “KarbonBased”), Walt Smith and Domo (creator of the BRC-20 token standard) also participated in the round, according to a statement shared with The Block.

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2024-05-07 10:25:22 Bitcoin-Backed Synthetic Dollar Promises High Yields for DeFi Users

Jakob Schillinger, founder and CEO of Hermetica, believes USDh will be a game-changer for Bitcoin DeFi. It will allow users to earn interest on their dollar holdings without leaving the Bitcoin network or relying on traditional financial institutions. This functionality caters specifically to Bitcoin enthusiasts who may be hesitant to venture outside the Bitcoin ecosystem. Hermetica is a DeFi protocol built on the Stacks blockchain, a layer-one solution designed to bring smart contract functionality to Bitcoin.

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2024-05-06 21:52:01 Runes and BRC-20s are just a stepping stone for Bitcoin DeFi

Bitcoin Runes and BRC-20 tokens may only be a stepping stone in the evolution of Bitcoin-native decentralized finance (DeFi). Runes is a new protocol for issuing fungible tokens on the Bitcoin network that launched on April 20, the day of the Bitcoin halving. Runes are part of a wider developer movement known as Bitcoin DeFi, or BTCFi, aiming to add more utility to the Bitcoin network.

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2024-05-05 19:25:28 Uniswap CEO weighs In on ethical token distribution

Hayden Adams, Uniswap’s founder and CEO, has outlined his take on ethical considerations for effective token distribution. This comes a few days after the crypto community raised concerns about the transparency and fairness of token distribution on EigenLayer. In an X post, Adams emphasized that he was discussing tokens, not points. He then criticized the practice of teasing and creating ambiguity during token distribution to inflate engagement metrics.

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2024-05-05 08:25:12 CFTC Commissioner Highlights Concerns Over AI Risks In DeFi

Concerning the use of AI in the financial markets, particularly decentralized finance, Kristin Johnson of the Commodity Futures Trading Commission (CFTC) has suggested measures including increased fines. Johnson expressed her worries on artificial intelligence and its implications for deregulation of financial markets in a speech she gave at the Fintech and Blockchain Symposium co-hosted by Sidley Austin and Rutgers Law School.

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