DeFi protocol Fluidity has said it will launch on the Ethereum mainnet on December 19. The Fluid-wrapped asset on-chain transaction incentive layer, which pays users for swapping, trading, or carrying out any on-chain transaction, will first be made available on Ethereum, with Solana, Arbitrum, and Polygon to follow. Fluidity is
Because of the current bear market, the crypto derivatives platform Paradigm has decided to reduce employee pay by 15%. After FTX’s bankruptcy last month, derivatives trading took a significant hit. Exchange co-founded by arrested entrepreneur Sam Bankman-Fried is accused of using billions of dollars in client cash to finance the
One of the biggest and most well-known crypto funds with Asian roots, HashKey Capital, has released its yearly 2022 DeFi Ecosystem Landscape Report. The report examines the condition of the decentralized financial sector today and demonstrates that, despite the crypto winter, the field is nevertheless prospering and brimming with opportunity.
MakerDAO is reintroducing the DAI Savings Rate. The DSR was first introduced in 2018, allowing participants to earn interest on their holdings of the project’s native stablecoin DAI by depositing it into a smart contract. However, for some time now, interest has been very low, paying consumers only 0.1%. Moreover,
On December 10th, a flash loan attack was conducted using the Arbitrum-based Lodestar Finance lending protocol. An attacker, as reported by Lodestar, artificially inflated the value of the plvGLP token used on the PlutusDAO platform. And then used that token to drain the platform dry of all available liquidity. Lodestar
Amber Group, a cryptocurrency trading business located in Singapore, is reportedly ending a $25 million sponsorship arrangement with the football team Chelsea FC as published by Bloomberg and cited by an anonymous source. To reduce its headcount to around 400, Amber Group, financed by Temasek and Sequoia Capital, is also
An American bankruptcy court overseeing the insolvency of cryptocurrency lender Celsius Network has directed the return of about $44 million in digital currency. Judge Martin Glenn’s decision, as reported by Bloomberg, would affect a very tiny portion of the total client money kept by Celsius that has never been used
Following the release of its Ethereum Smart Staking solution, Nexo saw a 5.3% increase in the value of its native coin. Nexo’s Ethereum Smart Staking allows users to convert ETH for Nexo Staked ETH (NETH) and get staking incentives of between 4% and 12% APY, paid out in NETH. According
Andreessen Horowitz, better known as a16z, a crypto venture capital company, has announced that Brian Quintenz will now serve as its full-time head of policy. After serving as a commissioner of the CFTC under both Obama and Trump. Quintenz initially joined a16z in September 2021 as a senior adviser. During
The exclusivity period for defunct cryptocurrency lender Celsius was extended until February 15, 2023. With the court’s OK, the struggling cryptocurrency lender has a few more months to submit a Chapter 11 reorganization plan. Two court sessions on December 6 resulted in the permission to prolong the term of exclusivity.
