Top DeFi

2021-01-14 18:06:32 Nexus Mutual expands centralized exchange hacking protection

DeFi coverage protocol Nexus Mutual (NXM) has expanded the list of centralized exchanges eligible for incident protection. Users trading on Binance, Kraken, Coinbase, and Gemini can now buy protection in the event of an exchange being hacked or an extended downtime for withdrawals.

The project announced the new integrations Monday as part of its coverage expansion initiative. Users who buy coverage will be entitled to compensation if the custodian is hacked and the user loses more than 10 percent of their funds. Alternatively, the claim could be satisfied if the custodian suspends withdrawals for more than 90 days.

According to current data, coverage is quite expensive. For example, Binance's 10 ether (ETH) coverage requirement of 365 days requires paying a premium of more than 3 ETH or 30% of the coverage amount. Open / Comment

2021-01-13 21:35:16 Curve Finance celebrates one year anniversary and sums it up

The team at the popular DeFi platform Curve Finance tweeted that the platform is one year old. It is also reported that Curve Finance has launched ETH2 stacking with Lido Finance, asset-to-asset swaps with Synthetix, and is approaching $2 billion in value (TVL) locked into the platform's smart contracts.

Curve's Twitter also reports that the team is currently working to finalize a new type of asset swap that uses Curve and Synthetix as a bridge. These swaps will allow traders to trade between different Curve assets if they share a pool with Synthetix (such as sUSD, sEUR, sBTC and sETH). This will open up routes that are currently difficult to trade, such as the euro. An audit is currently underway. Open / Comment

2021-01-12 09:51:13 Synthetix promises a bug fix for multilateral loans

Synthetix reported that a bug was discovered last week in the recently launched multi-collateral loans feature. This problem caused some loans to be flagged for full liquidation when only partial liquidation was required.

U.S. dollar short positions are the most vulnerable because they are denominated in sBTC/sETH and the collateral ratios for these positions depend on BTC and ETH prices.

The PDAO has suspended the ability to open new positions using the multiple collateral contract. At the time of publication, all open positions have been safely closed.

The new contracts will be involved in our next issue of Castor, which is scheduled for this week. Open / Comment

2021-01-11 08:07:20 Prosper launches "predictive mining" of PROS tokens

Prosper's Binance Smart Chain-based short-term forecasting platform has changed its token allocation model and canceled the public sale of PROS. To ensure a fair distribution of tokens, a "predictive mining" model has been developed, which will start on January 8 at 11:00 UTC.

Predictive mining is essentially a cashback paid in PROS tokens for participating in BNB price prediction pools at https://beta.prosper.so.

There will be two epochs of PROS mining, the first starting on January 8 and lasting until January 11. Immediately after the completion of mining, the PROS genesis volume will be distributed to investors of all rounds, as well as Genesis mining participants, and will be partially placed on exchanges. Details on the second epoch will be known after the listing.

Total tokens allocated for the first epoch: 396,000 PROS
Hourly rate of reward: 5,500 PROS Open / Comment

2021-01-10 09:08:13 Protofire receives grant to integrate Chainlink into Avalanche

Protofire, a provider of blockchain development services, has been selected as the recipient of a grant to develop Chainlink integration into the Avalanche blockchain. The grant will support Chainlink's Avalanche-based ecosystem projects in many markets such as DeFi, tokenized assets, games and more.

As part of the grant, Protofire:

- Will test and adapt Chainlink contracts to ensure native compatibility with Avalanche
- Test and deploy all Chainlink components on Avalanche's core network with ongoing maintenance and updates
- Provide a solution for monitoring Chainlink nodes running directly on Avalanche

Chainlink hopes to continue to empower more and more teams in the Chainlink ecosystem as they explore and build key tools and infrastructure that accelerate the development of universal smart contracts and secure Oracle networks. Open / Comment