DEFI
What is DeFi?
Decentralized Finance, DeFi as a concept is to be able to offer almost all the financial services available with legacy and centralized institutions, typically banks, but on the blockchain. Whatever traditional services financial institutions provide can be expected to be offered through DeFi. In short, Defi is blockchain-based financial services that traditional financial services map into, creating new services or derivatives stemming from blockchain's unique features. Although we have had concepts like distributed computing and decentralized computing for decades, DeFi is in fact a new concept and an expansion of the application scope of blockchain as infrastructure.
Decentralized Finance, DeFi as a concept is to be able to offer almost all the financial services available with legacy and centralized institutions, typically banks, but on the blockchain. Whatever traditional services financial institutions provide can be expected to be offered through DeFi. In short, Defi is blockchain-based financial services that traditional financial services map into, creating new services or derivatives stemming from blockchain's unique features. Although we have had concepts like distributed computing and decentralized computing for decades, DeFi is in fact a new concept and an expansion of the application scope of blockchain as infrastructure.
Mango Labs Sues Avraham Eisenberg for $47 Million
Mango Labs, the firm behind Mango Markets, has sued exploiter Avraham Eisenberg. The Jan. 25 complaint says Einseberg misused its platform for millions of dollars in cryptocurrency in 2022.
Injective Launches $150 Million Ecosystem
Injective, a layer-1 blockchain technology, is funding Cosmos network developers with $150 million. Pantera Capital, Kraken Ventures, Jump Crypto, and Gate Labs support the fund.
The Wormhole hack: hacker shifts $155 million
On January 23, a DEX received $155 million in Ether. The Wormhole attack, which lost 120,000 Wrapped ETH on Feb. 2, was 2022's third biggest crypto heist.
Uniswap v3 Protocol to Be Deploy to BNB Chain
80% of Uniswap users opted for BNB Chain's third decentralised exchange system. A "temperature check" determined community support. Five to seven weeks are needed to implement smart contracts.
SushiSwap to Redirect Trading Fees to its treasury
SushiSwap will shortly transfer all trade fees to its treasury. 99.85% of voters "clawbacked" 10,936,284 unclaimed SUSHI ($14.8 million) tokens.
The Metaverse: The Future of Social Life?
In December 2022, CoinWire polled 10,000 crypto investors. 69% of respondents expected the metaverse to change social lifestyle with a new entertainment model, and 65% expected it to affect social activities.
Mars Hub Launches Independent Cosmos Application Chain
An airdrop on the mainnet will unlock 64.4 million MARS tokens for Terra Classic holders who held them throughout the two historical snapshots. Osmosis blockchain will launch the first Mars outpost in early 2023.
The Importance of NFTs in the Web3 industry
NFT token sales increased 67.57% to 101 million last year. DappRadar's Web3 adoption analysis found huge transaction growth in the Solana and ImmutableX ecosystems.
Hackers exploit Raydium protocol, send $2.7 million
The Raydium protocol exploiter transmitted 1,774.5 ETH to Tornado Cash, a sanctioned cryptocurrency mixer. On December 16, 2022, the Solana-based DeFi protocol was attacked. Exchange security staff are fighting hackers.
Platypus Launches Native Stablecoin USP
Platypus Finance is launching USP, a protocol-native stablecoin. USP’s deployment has emerged from Platypus’ goal of improving capital efficiency for its users. USP also resolves long-running collateral issues associated with stablecoins. The native Platypus Finance stablecoin has been designed to reduce the liquidity fragmentation and scattered assets that are endemic to many protocols.