DeFi

DeFi, short for decentralized finance, represents a shift in the financial sector by leveraging blockchain technology, primarily Ethereum, to eliminate traditional financial intermediaries. It enables various financial applications, from simple transactions to complex contracts, through smart contracts that execute automatically under specific conditions. Key DeFi applications include decentralized exchanges (DEXs), stablecoins, lending platforms, and prediction markets. DeFi offers financial services like loans and interest-earning opportunities without traditional identity verification, relying instead on collateral, usually in cryptocurrency. This innovative sector promises increased accessibility and efficiency but comes with risks, such as market volatility and unregulated projects.

Tech

DeFi Platform Curve Finance Takes First Steps Toward crvUSD Stablecoin

Details on the actual usage of crvUSD are scarce, and Curve developers declined to share more information about the tokens with CoinDesk.

By Shaurya MalwaSep 7, 2022

Finance

Crypto Exchange KuCoin Highlights Flaws in DeFi Platform Acala's Post-Exploit Proposal

The exchange has pinpointed several mistakes in the platform’s data on erroneously issued stablecoins.

By Elizabeth NapolitanoSep 6, 2022

Finance

DeFi Platform Credix Raises $11.25M to Connect Institutional Lenders With Emerging Market Fintechs

The decentralized credit marketplace will use the capital to expand beyond Brazil.

By Brandy BetzSep 6, 2022

Markets

Traders Bet on GMX Tokens as Proxy for Ethereum Layer 2 Tool Arbitrum

The tokens have almost doubled in price during the past two weeks during a mostly flat market.

By Shaurya MalwaSep 6, 2022

GMX tokens are serving as a proxy bet for Arbitrum investors. (Jason Briscoe/Unsplash)

Finance

DeFi Platform Kyber Says It Removed Attack Vector, Compensated Affected Wallet

The Sept. 1 exploit saw $265,000 stolen from one Kyber wallet.

By Jamie CrawleySep 6, 2022

Ethereum developers launch Hoodi testnet (Shutterstock)

Videos

Future of Nigeria’s Booming Crypto Scene

Nigeria showed more interest in crypto than any other country since the markets began to decline in April, according to a study by price tracker CoinGecko. WomenInDeFi Brand Strategist Umeh Chinonye discusses her outlook on the state of crypto in Nigeria.

Sep 2, 2022

Videos

Nigerians Flock to Crypto as the Naira Weakens

Some Nigerians are turning to bitcoin (BTC) to hedge against the naira's drop in value amid a collapsing economy. Paxful Deputy General Counsel Jude Ogene and Africa Blockchain Institute Head of Research Oluwaseun Adepoju discuss the role of crypto as a potential tool for financial freedom. Plus, WomenInDeFi Brand Strategist Umeh Chinonye discusses the impact of Web3 and DeFi in Nigeria.

Sep 2, 2022

Tech

DeFi Platform Kyber Network Discloses $265K Exploit, Vows to Reimburse All Funds

This most recent attack on a decentralized finance platform resulted from malicious website code.

By Sam KesslerSep 1, 2022

Two RPC interfaces for Polygon and Fantom were impacted in a DNS hijack attack. (Mika Baumeister/Unsplash)

Videos

PoW Fork supported?; Making DeFi better

Why are some exchanges backing an ETH PoW fork? And how can we build better DeFi protocol? The answers to those questions and other news shaping the cryptocurrency world in this episode of "The Daily Forkast."

Sep 1, 2022

Markets