DeFi projects have become quite huge in number in the past few months. Partnerships between different web3 ecosystems are a cornerstone of DeFi advancements. Recently, the DeFi project Kujira has announced a partnership with three other ecosystems to build the layer 2 THORChain app. Notably, the ThorChain is utilized by
In a statement made public on September 4th, the Uniswap Labs, a developer of decentralized exchange (DEX), was charged by the US Commodity Futures Trading Commission (CFTC) with the unlawful sale of leveraged cryptocurrency trading to retail investors in the US. As part of the settlement, Uniswap Labs complied with
1inch Network is making significant steps in decentralized finance (DeFi) as a leading decentralized exchange (DEX) aggregator. The 1inch team recently spent $1.75M to purchase 7.96M 1inch tokens at $0.22 each. The team has invested around $5.49M since July 5, purchasing 22.4M tokens at an average price of $0.25 each.
In August, the DeFi protocols fee accumulation dropped 24% from July. DeFi protocol’s total amount of fee, excluding the base layers is $288 million. This has recorded the lowest since February. In February, the total was $265.18 million. Uniswap led the list with protocol fees of over $85.44 million. August’s
BounceBit (BB), a Bitcoin restaking chain project, will release its BounceBit V2 in September 2024. The company announced this update on X, highlighting a significant overhaul to its centralized decentralized finance (CeDeFi) platform and BounceClub. The focus will be on improving the user experience and adding new tools for smart
Bitcoin (BTC) took a brief plunge yesterday, managed to hover at the $62,000 mark, and wiped off all the gains within the last 24 hours. BTC crashed by over 5.90%, marking one of the largest declines since August. The bears continued to restrain the bulls from recovering, slipping to a
The DeFi Education Fund (DEF) recently settled with True Return Systems LLC (TRS) involving a patent dispute for Decentralized Finance (DeFi) protocols. On Monday, DEF announced that it had purchased a patent from TRS, resolving ongoing lawsuits against MakerDAO and Compound Protocol. The patent, U.S. Patent No. 10,025,797, covers “oracle-like”
On August 5, the decentralized finance (DeFi) protocol Aave showed notable strength amid a severe crypto market plunge. Aave generated $6 million in revenue from decentralized finance liquidations. This spike in revenue is a response to economic events, like the interest rate hike by the Bank of Japan and the
According to statistics from analytics company Parsec financial, on-chain liquidations across Ethereum’s decentralized finance protocols hit a new annual high, with positions liquidated totaling over $350 million in the preceding 24 hours. This is happening as the market volatility has spiked and the crypto market as a whole has been
Flare, the layer 1 blockchain for data, is thrilled to announce that the SparkDEX team has opted for deploying their sophisticated decentralized finance hub on the network, which includes an AMM and perps protocol. By doing this, SparkDEX will take use of the decentralized data access provided by Flare’s entrenched data
