DeFi

1Inch announced its latest upgrade to swap its engine However, 1Inch’s TVL has been on a flatline since 2021 Christmas might not have been the best for investors of several projects, but for 1inch Network (1INCH) traders, there was something to cheer about. Amid the worldwide celebration, the DeFi distributed network announced an upgrade to its swap engine.Continue reading “1INCH swap upgrade could mean delight for traders and DeFi but…”

Defrost Finance gets hacked and funds worth $12 million get stolen Avalanche’s TVL and revenue generated declines A DEX on the Avalanche network, known as Defrost Finance, was compromised by an attack from a hacker. According to data provided by PeckShield Inc, a crypto security analytics firm, the attacker was able to get away withContinue reading “Avalanche’s DEX loses $12 million in hack; are AVAX holders next to be snowbound”

A new report confirms Uniswap’s dominance over other order books and AMMs. Despite the dominance, activity on Uniswap, and the revenue collected on the network have taken a hit. In a recent report by Delphi Digital, it was stated that Uniswap along with Curve outperformed major AMM (Automated Market Makers) and order books in termsContinue reading “Will Uniswap continue to dominate DEX space in 2023? This report suggests…”

A member from BitDAO proposed a $100 million token buyback program Members of the community had mixed reviews for the proposal BitDAO, at press time, was caught between mixed reviews from its community over the latest proposal regarding token buyback program. BitDAO is one of the largest decentralized autonomous organizations (DAO) in the world andContinue reading “BitDAO: All about the $100 million buyback proposal that led to…”

Curve Finance announced new additions to its liquidity pools and safeguarded users holding ren-based assets Despite developments, volume on its protocol and interest in the CRV token decreased Curve Finance’s [CRV] new announcement on 18 December revealed that it would add WBTC, sBTC, and multiBTC liquidity pools to its protocol. multiBTC is a Bitcoin [BTC]Continue reading “CRV investors could have to wait before they start celebrating Curve’s latest…”

Layer-2 solutions show growth in terms of TVL share, according to a new report The number of active addresses and transactions increased as well According to data provided by Messari, a crypto analytics firm, layer-2 solutions, such as Arbitrum and Optimism witnessed improvements in terms of adoption. This could be due to the growing TVLContinue reading “Are Arbitrum, Optimism already banking on a profitable 2023? This report suggests…”

PancakeSwap observed growth in terms of TVL, however, the growth could come to a halt. Uniswap’s deployment may impact PancakeSwap’s growth. A 17 December update by PancakeSwap [CAKE] revealed that despite the market’s bearish conditions, the DEX had witnessed a spike in its total value locked (TVL). According to DefiLlama’s data, PancakeSwap’s TVL grew materially overContinue reading “Can this latest Uniswap development put CAKE and its investors at risk”

Convex Finance resisted the urge to follow in the footsteps of other protocols as TVL slid below $40 billion CVX on-chain acted in accordance with declines In spite of its sixth position on the Total Value Locked (TVL) standings, Convex Finance [CVX] failed to send the DeFi TVL to its lowest since February 2021. TheContinue reading “How Convex Finance [CVX] struck another tone as DeFi TVL hits 22-month low”

An executive proposal has been implemented to increase DAI Savings Rate to 1%. MakerDAO was momentarily displaced as the DeFi protocol with the largest TVL. Following an executive proposal decided upon on 11 December and executed on-chain on 12 December, MakerDAO [MKR] implemented an increment of its DAI Savings Rate from 0.01% to 1%.  DAIContinue reading “MakerDAO increases its DAI Savings Rate, thanks to competitive DeFi landscape”