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🔹 Daily DeFi & Ethereum News 🔹 Join also: @Metaverse_Defi_Nfts_Trading Contact for cooperations only: @ChengTF
🟢 Maker’s “Endgame” launch aims for 100 billion DAI to take on Tether
Decentralized finance protocol MakerDAO is preparing for the launch of its highly anticipated “Endgame” transformation that will focus the platform “toward scalable resilience and sustainable user growth,” according to co-founder Rune Christensen. The ultimate goal of the Endgame is to scale the protocol’s decentralized stablecoin Dai (DAI $1.00) from its current $4.5-billion market capitalization to “100 billion and beyond,” on par with rival Tether (USDT $1.00).
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📊 DeFi Borrower Behavior Key to Gauging Tokenization Risks: BIS Study
The behaviors of borrowers in the decentralized finance space and DeFi market dynamics are important considerations when designing and managing platforms involving tokenized assets, a study by the Bank for International Settlements (BIS) has concluded. The workings of DeFi lending platforms offer useful insight into the risks associated with tokenization and the potential disruption of traditional finance, the technical study by the central bank group said.
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💰 B² Network Buzz deposit ends with $663M, initiating a new era in Bitcoin DeFi
The BTC ecosystem is the catalyst for this bull market. Within this ecosystem, a rising star, B² Network, has captured the attention of the entire crypto world with the TVL of B² Buzz exceeding $663 million. Two essential parts make up the technological architecture of the B² Network: the Rollup layer and the Data Availability layer. Collaborating to ensure network stability, these structures form the backbone of the B² Network.
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🪙 Ethereum’s Dencun upgrade will make DeFi a lot cheaper to use
Cancun-Deneb, or “Dencun” for short, contains nine different EIPs, or Ethereum Improvement Proposals. Among them, EIP-4844 is the most highly anticipated. It promises to dramatically cut the costs of interacting on layer 2 blockchains like Arbitrum and Optimism. Layer 2 fees will drop by a factor of 10 after the upgrade. That means swapping tokens on decentralised exchanges, which currently costs $1-2, should fall to around 20 cents, and could even go as low as a single cent on some layer 2 networks like Base.
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📊 DeFi protocol Unizen to provide ‘immediate reimbursement’ after $2.1M hack
DeFi protocol Unizen announced that it will issue an immediate refund to users who lost their funds to an exploit this weekend. Decentralized finance (DeFi) protocol Unizen announced that it would reimburse its users who lost 750,000 or less “as soon as humanly possible” after the platform got compromised, losing about $2.1 million in user funds. On March 9, blockchain analytics firm PeckShield flagged an “approve issue” with the DeFi platform, reporting that over $2 million had already been drained.
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#Market Update:
BTC is currently above 69k level which is a bullish sign for the further bullish momentum BTC needs a weekly closure above it
The Next week Major events :
-US CPI tomorrow
-US PPI and Retail sales day after tomorrow
As we have a weekly closure tonight and major events coming so volatility is expected trade cautiously and must use Sl.
@ChartsSignalsTrading
📊 Criminals Target Defi Platforms, Steal More Than $67 Million in February Alone
In February alone, criminals stole digital funds worth over $67 million from decentralized finance (defi) platforms. The latest Immunefi data shows that hacking attacks accounted for more than $65 million, or 97% of the month’s losses. The Ethereum blockchain suffered the most individual attacks, with 12 incidents representing 85.71% of the total losses across targeted chains.
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📊 $84.5bn in derivative volumes push DeFi yields to highest levels in two years
According to DefiLlama’s yield overview page, GMX or protocols that operate on top of GMX now offer four out of the top 10 highest yields for protocols that have at least $10 million in deposits. Perpetual futures, often referred to as perpetual swaps or simply “perps,” are a derivative contract that enables traders to bet on the future value of an asset indefinitely without an expiration date.
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📊 DeFi pump-and-dump schemes rake in millions, harm industry credibility
The cryptocurrency space has been compared to the Wild West numerous times, and while it has been maturing to resemble the world of traditional finance more closely, in the decentralized finance (DeFi) space, the “wild” ethos remains, with freewheeling trading activity often leading to pump-and-dump schemes and wash trading. On the Ethereum network alone, according to a recent Chainalysis study, over 370,000 tokens were launched in 2023, with 168,600 listed on decentralized exchanges (DEXs).
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🚨 DeFi Platform Woofi Exploited: Hackers Reportedly Swipe $8.75M in Cryptocurrencies
Decentralized finance (DeFi) platform Woofi fell victim to a sophisticated attack, resulting in the illicit extraction of $8.75 million in cryptocurrencies. The hackers attacked Woofi Swap's Synthetic Proactive Market Making (sPMM) algorithm on March 5th, which is the backbone of the pricing mechanism on the Arbitrum network. According to a recent report from the Woofi team, the attackers utilized a pattern of flash loans to manipulate the value of Woofi's native token, WOO.
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💰 Solana Weekly DeFi Trading Sets All-Time High Above $11 Billion
Trading volume on Solana-based decentralized exchanges (DEXs) blew past an all-time record this week, cementing the Ethereum rival’s place among the top beneficiaries of the crypto market’s current, steadily escalating bull run. Over the period of February 24 to March 2, more than $11.19 billion worth of digital assets were traded on Solana decentralized exchanges, according to data compiled by Defi Llama. That figure is up over 154% from the preceding seven-day period.
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📊 DeFi ‘points’ farming has reshaped the crypto investment landscape
As a DeFi-focused hedge fund, MEV Capital has grown comfortable with moving funds around on-chain in pursuit of higher returns, a strategy known as yield farming. MEV Capital is farming these points especially in order to gain exposure to EigenLayer and a raft of other Ethereum restaking projects offering off-chain points to on-chain users. It’s a testament to renewed animal spirits in crypto and the excitement surrounding restaking that hedge funds like MEV Capital are now acquiring participation tallies for clients.
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🪙 Uniswap Governance Votes Unanimously to Empower UNI Holders With Protocol Fee Rewards
In a landmark governance decision, Uniswap’s community has voted unanimously in favor of a proposal to reward UNI token holders who stake and delegate their tokens. The upgrade, aimed at revitalizing the protocol’s decision-making process, has garnered overwhelming support with over 10 million UNI tokens pledged in its favor.
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💰 SatoshiDEX Opens $SDEX Pre-Sale, the Native Token of World’s First Bitcoin DEX
SatoshiDEX.ai, a pioneering Bitcoin DeFi platform, has announced the start of its highly anticipated 2nd Round of $SDEX Pre-Sale. Following the successful conclusion of Stage 1, which saw an impressive $700,000 raised, Stage 2 is now live and open to the community, offering an exciting opportunity to be part of this groundbreaking initiative. SatoshiDEX is led by a visionary team dedicated to reshaping decentralized finance. Beyond building the world's first Decentralized Exchange built directly on the Bitcoin L2, they are passionate about creating a robust and inclusive Bitcoin DeFi ecosystem.
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🏦 PancakeSwap (CAKE) Launches V4 with $3M CAKE Airdrop to Enhance DeFi Ecosystem
PancakeSwap, a decentralized exchange at the forefront of the DeFi sector, has announced the launch of PancakeSwap V4 along with an enticing $3 million CAKE token airdrop. This move is set to invigorate the platform's community engagement and bolster its position within the DeFi ecosystem. The airdrop campaign is aimed at both existing users and new participants, promoting the exploration of the platform's enhancements.
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📊 NAV revolutionizes DeFi with structured investment products and regulatory compliance
NAV, a trailblazing quantitative hedge fund, is set to transform the decentralized finance landscape with its innovative Structured Investment Products (SIPs) and commitment to regulatory compliance. By bridging the gap between traditional finance and blockchain technology, NAV offers investors a secure and accessible gateway to the world of DeFi. NAV's groundbreaking approach centers around its SIPs, which are designed to optimize yields while mitigating risk.
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✖️ DeFi exchange dYdX attracts stakers amid $41bn in trading volume
With Bitcoin hitting new highs on a weekly basis, dYdX stakers are earning hundreds of thousands of dollars in trading fees. Stakers on the decentralised perpetual exchange earned an aggregate of $460,000 on March 5, the first time Bitcoin broke past its previous record high of $69,000. In the last 30 days, all dYdX stakers have earned a total of $5 million, according to data from Mintscan. The fees were paid out in USDC, Circle’s US dollar-pegged stablecoin.
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📣 Solend expands DeFi horizons with Suilend on Sui Blockchain
The team members of Solend, a DeFi lending protocol on the Solana blockchain, have delivered Suilend, its initial project beyond the Solana ecosystem. Suilend utilizes the DeFi knowledge of the team members differently, using the Move programming language and the potential and high level tools of Sui. Solend holds the ninth position in the list of the biggest DeFi protocols on Solana. It takes credit for having $212 million in terms of total value locked (TVL).
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📣 Solana DeFi's KMNO Airdrop Sparked Outrage. Kamino Responded With Changes
The new rules will give additional – albeit unspecified – rewards to "OG" users of Kamino, which hosts various decentralized finance (DeFi) products for borrowing, lending, staking and earning interest on Solana tokens. Points-earning strategies will also be lessened, Kamino said in a post on X, formerly Twitter. "We hear you," Kamino's account posted mid-Monday, trying to quell four days of blowback it has faced from users since announcing the details of its airdrop, scheduled for April.
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💰 Solana DeFi Landscape Thrives With Record $11 Billion Trading Volume
The Solana decentralized finance (DeFi) sector is experiencing a period of phenomenal growth, with decentralized exchanges (DEXes) witnessing record-breaking trading volumes and the native token, SOL, reaching a new 20-month high. However, amidst the euphoria, experts advise caution due to potential market risks.
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📊 DeFi TVL reaches $100B as Bitcoin pumps sentiment
The demand for Bitcoin is fueling sentiment around the crypto industry, driving the capital locked on-chain to over $100 billion on March 9. According to data from DefiLlama, the global total value locked (TVL) in decentralized finance (DeFi) protocols reached $100.1 billion, with more than $10 billion in volume in the past 24 hours at the time of writing. However, these figures still fall short of the $189 billion record set in November 2021.
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📣 VLVT DeFi Announces an App Store Update in the Digital Asset Industry
VLVT DeFi, a leading force in the decentralized finance (DeFi) space, is thrilled to announce a significant update to its app store, setting a new standard for innovation and user experience in the rapidly evolving digital asset industry. VLVT DeFi's development team introduces a host of cutting-edge features and improvements designed to empower users with enhanced functionality, security, and accessibility within the decentralized financial ecosystem.
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💰 Solana DeFi Protocol Kamino Sets KMNO Token Airdrop for April
Solana-based DeFi protocol Kamino plans to airdrop its KMNO token in April after taking a snapshot of eligible users on March 31. "The amount of points you have will contribute to the amount of tokens you will get," Thomas, a contributor to Kamino, said on a monthly Solana developer call, explaining that the protocol will employ mechanisms to prevent airdrop farmers from sybil attacking the system with multiple wallets.
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🪙 Uniswap Foundation token rewards proposal passes temperature check vote
The Uniswap Foundation's proposed changes to the governance of the popular decentralized exchange Uniswap, including altering its fee mechanism to reward users who delegate and stake their tokens on the platform, has unanimously passed a temperature check vote. The temperature check vote — a snapshot poll to gauge initial Uniswap community sentiment on moving ahead with the proposal — began on March 1 and passed with 100% of delegates in favor after ending today at 1:30 p.m. ET.
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📊 DeFi TVL breaks $100 billion for first time since May 2022
The total value locked (TVL) in decentralized finance (DeFi) protocols exceeded $100 billion for the first time in nearly two years. On March 5, DeFi TVL reached $101.36 billion, with lending accounting for $32.62 billion (32.2%) of this total, with decentralized exchanges at $19.97 billion (19.7%), collateralized debt positions at $12.22 billion (12%), and restaking activities at $10.06 billion (9.9%). The last time the TVL in DeFi surpassed $100 billion was on May 11, 2022, according to The Block's Data Dashboard.
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📊 DeFi poised for major comeback amid Bitcoin’s rally, predict Bernstein analysts
With bitcoin approaching all-time highs amid strong spot exchange-traded fund inflows, analysts at research and brokerage firm Bernstein anticipate a “big bang” DeFi recovery to come next. The DeFi segment got “completely wiped out” during the last cycle, playing a game of unsustainable yields driven by subsidies from token incentives (inflation) that ultimately came crashing down, the analysts argued.
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📊 Gauntlet collaborates with DeFi lending protocol Morpho
Gauntlet, a decentralised finance (DeFi) risk management firm, collaborated with Morpho, a DeFi lending protocol.The collaboration is expected to take place after Gauntlet parted ways with Aave, stated Cointelegraph. Sources revealed that the partnership was announced on February 27, 2023. It is believed that Gauntlet created its own lending products on MorphoBlue, a new protocol that allows firms to spin up “vaults’, user’s own lending and borrowing pools, added Cointelegraph.
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📊 Value Locked in Defi Nears $100 Billion Milestone Amidst Broad Market Uptick and Lido Dominance
Five days ago, the total value locked (TVL) in decentralized finance (defi) protocols exceeded the $80 billion mark, and since that point, it has expanded by an additional $11.66 billion. As it hovers above the $91 billion threshold, the TVL is approaching the $100 billion milestone, a figure not observed since before the collapse of Terra’s stablecoin.
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⬜️ OKX adds Uniswap API on DEX, launches gas-free trading
OKX chief innovation officer Jason Lau said that the new feature eliminates common DeFi headaches like slippage, MEV attacks and failed transactions. OKX chief innovation officer Jason Lau told Cointelegraph that the feature allows simpler decentralized token swapping. Lau explained that the integration with Uniswap gives the OKX DEX access to the UniswapX protocol and is connected to its liquidity.
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