DeFi

Trader Joe’s DEX volume exploded 19x on a year-to-date (YTD) basis. Native token JOE retraced some of its gains made earlier as it recorded a 9% weekly fall. Trader Joe’s [JOE] trading activity surged significantly over the last month, pushing the decentralized exchange [DEX] to sixth position in the list of top DEXs by volume,Continue reading “Trader Joe [JOE] rises up the ranks, gauging what’s behind the scenes”

GMX proposed to allocate 1.2% of its revenue to the Chainlink network GMX’s TVL exhibited a promising recovery and retraced all its losses since the USDC depegging fiasco As part of its endeavor to bring more decentralization, popular derivative exchange, GMX, proposed to make Chainlink [LINK] the oracle partner of its V2. The main economic criterionContinue reading “GMX’s recent recovery could be attributed to this ‘LINK’. Here’s how…”

MakerDAO is attempting to make new changes to the protocol through its governance Earnings generated by the protocol have increased while overall interest in the token declined Despite losing its dominance in terms of TVL to Lido, MakerDAO has continued to focus on its protocol and has continued to make changes to it. The protocolContinue reading “MakerDAO’s governance changes could have this impact on the protocol”

“Killer use-case” If you’re a part of the crypto-world, chances are you’ve heard this phrase repeatedly over the last 48 hours. Citi Bank’s latest report titled “Money, Tokens and Games” offers a compelling look at what the future of crypto holds. The report believes that theoretically, one can tokenize any RWA. But, what does itContinue reading “Assessing how RWAs’ $16 trillion prediction can come true”

Weekly DEX volume on Trader Joe surged 35% at press time. Trader Joe’s total value locked on the Arbitrum chain more than tripled since ARB’s AirDrop Trader Joe [JOE] registered a phenomenal growth in its trading activity over the past week. As per a tweet on 31 March, the 24-hour volume on the decentralized exchangeContinue reading “What is driving Trader Joe’s [JOE] recent surge in DEX trading volume?”

Decentralized exchange SafeMoon was exploited to the tune of $8.9 million earlier today. The hackers took advantage of a public burn bug to drain one of the DEX’s liquidity pools. Decentralized Finance exchange SafeMoon [SFM] has lost millions of dollars following a compromised liquidity pool. which allowed hackers to exploit the BNB Chain-based DEX. TheContinue reading “SafeMoon [SFM]: Hackers say ‘relax’ as DEX loses millions in exploit”

Lido’s TVL declined over the past week as activity on the protocol fell. LDP token prices fell as whale interest waned. Lido Finance [LDO], in a 28 March tweet, reported a 2% decrease in its Total Value Locked (TVL) over the past week. Despite the high demand for Lido’s stETH in the previous month, aContinue reading “Lido: TVL dips despite stETH demand, what will the protocol do next”

Members of the MakerDAO community have ratified its new ‘Constitution’  Lack of demand forces MKR’s value to drop. Members of the MakerDAO [MKR] community voted in favor of a set of proposals on 27 March, which included “The Maker Constitution,” a set of new governance rules that have introduced significant changes to the leading decentralizedContinue reading “MakerDAO: ‘Maker Constitution’ approved as ‘Endgame Plan’ trudges on”

Kokomo Finance initiated an exit scam, causing $4 million in losses. Optimism network’s TVL showed a slight downtrend, possibly impacted by the exit scam. Not long after Euler Finance’s hack, the DeFi community was hit with another blow when Kokomo, a protocol on the Optimism [OP] network, initiated what appears to be an exit scam.Continue reading “Optimism: Protocol Kokomo Finance initiates exit scam, all you need to know”