DeFi

GMX’s registered a year-to-date growth of 43% in its total value locked. The network growth fell considerably over the last month. According to DeFiLlama, GMX whizzed past competition to become the top derivative exchange in terms of total value locked (TVL). GMX’s year-to-date growth in TVL was promising as it jumped 43% to the pressContinue reading “GMX’s growth in TVL is a matter of joy, but there’s a caveat”

PancakeSwap has announced the launch of its V3 upgrade on BNB Chain in the first week of April. The fiat value of the protocol’s transaction volume and its TVL have decreased in the last month.  BNB Chain’s leading decentralized finance (DeFi) protocol PancakeSwap [CAKE], has announced that it will be launching its third iteration inContinue reading “Battle of V3s: PancakeSwap and Uniswap to compete on BNB Chain”

MakerDAO will liquidate its USDC-A, USDP-A, and GUSD-A vault types. MKR’s price has enjoyed a significant bullish momentum in the last week.  Leading decentralized finance (DeFi) protocol MakerDAO [MKR] has scheduled an 8 March date to offboard its redundant stablecoin vaults. This decision came after it obtained approval from members of the protocol’s governance teamContinue reading “MakerDAO to remove redundant stablecoin vaults: Will MKR be affected?”

Lido sustained positive validator growth in Q4 as well as healthy validator jurisdictional dispersion. A look at the impact of the recent market conditions on LDO and its TVL reveals some interesting facts. Lido Finance just released its latest quarterly report revealing the state of node operators. The timely nature of the report may offerContinue reading “Decoding the state of Lido Finance’s node and validator operators”

Djed became Cardano’s fourth-biggest project.  The development team was working towards an increase in adoption with the option to borrow and use the stablecoin as collateral. Cardano’s [ADA] stablecoin Djed which launched on 31 January, has surpassed many projects in the ecosystem to become the fourth largest. Created by the blockchain’s development group Input OutputContinue reading “Cardano’s [ADA] Stablecoin Djed took advantage of the gap left by…”

Ongoing voting showed that the Lido community would most likely support the Ethereum Shanghai Upgrade. The protocol’s TVL growth has evidently surpassed others. The call by Lido Finance [LDO] on its community to approve withdrawals on its Staking Router might have yielded the much-needed fruits. According to the snapshot of voting, 100% of the liquid-stakingContinue reading “Why Lido Finance’s support of Ethereum upgrade is important?”

Optimism protocol may reap benefits from Coinbase’s new product. However, its token may get impacted negatively. The much-awaited Coinbase layer 2 solution will be launching on the Optimism network very soon. It’s important to note that multiple factors are in favor of Coinbase’s new initiative. The success of Coinbase’s layer 2 solution could have aContinue reading “Can Optimism [OP] benefit from the latest Coinbase move?”

Chainlink introduced a new developer platform with access via the Ethereum and Polygon Testnets. The token circulation has hovered around the same region for some time.  Chainlink [LINK], the decentralized oracle network announced the launch of a new platform called the “Chainlink Functions.” According to the project, this new side of its chain would enableContinue reading “Chainlink functions in motion, but LINK keeps struggling with circulation”

Convex Finance dominated Curve Finance’s governance.  Protocol struggled while whales continued to buy CRV. According to Delphi Digital, Convex Finance, a Curve [CRV] staking platform, dominated 45% of the overall governance on the network. vlCVX holders can vote on the pools they want to incentivize or vote for specific pools and earn bribes paid by otherContinue reading “Curve’s governance witnesses dominance from this protocol, more inside”