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The decentralized finance, or DeFi, sector of the crypto industry has been bursting with exuberance, innovation, and speculation in recent months. The niche is still very much in its infancy, however, according to Richard Byworth, CEO of digital finance company Diginex."I do believe that DeFi is the future potentially down
Read MoreCrypto exchange OKEx added Uniswap's new UNI token to the array of assets offered on its platform, in addition to trading products around the asset."Not only has OKEx added support for spot trading of UNI, but it is also providing its users with the most comprehensive range of trading products
Read MoreThe rapid growth in decentralized finance and yield farming is likely to attract greater regulatory attention according to a recent report.A joint research paper by global management consulting firm BCG Platinion and Crypto.com has indicated that the rapid growth in DeFi in 2020 has created the potential for money laundering
Read MoreMore than $1 billion worth of Bitcoin (BTC) has now been tokenized to access decentralized finance (DeFi) protocols on the Ethereum (ETH) network. That’s equivalent to the entire total value locked (TVL) in DeFi less than four months ago.According to DeFi Pulse, roughly 98,300 BTC, worth $1.05 billion, has been
Read MoreCrypto.com (CRO) is adding Chainlink’s price feeds to its DeFi wallet as it begins expansion into the booming space. The company chief operating officer Eric Anziani told Cryptox:“I would say with the partnership with Chainlink is kind of our first integration with a DeFi protocol, it brings value to our
Read MoreDecentralized finance, in a nutshell, promises transparency and offers beneficial terms for borrowers. DeFi platforms are supposed to build an alternative financial system for offering/receiving loans, exchanging currencies, making payments, etc. There are no banks, brokers or trusted third parties, governments are not involved, and finally, notorious middlemen are eliminated.
Read MoreThe rapidly expanding DeFi space is becoming riddled with scams as another suspicious project has headed for the exits carrying speculators' money."A new liquidity mining pool DeFi project, Yfdexf.Finance has exited the market after defrauding investors of $20 million in total funds locked in its protocol," media outlet ZyCrypto wrote
Read MoreMeta-DeFi protocols are becoming increasingly popular following the success of Yearn.finance. The project is essentially a yield farming hedge fund that lets people participate in complex strategies to farm the governance tokens, or GTs, of other protocols.Yearn is just about business — it sells any tokens it obtains through its
Read MoreCrypto startup investor and IDEO Managing Director Ian Lee has revealed how DeFi protocols can avoid being cloned and drained of liquidity by improving upon their design and governance from the start. When SushiSwap forked from Uniswap on Friday, August 28, it suggested the beginning of a wave of similarly cloned
Read MoreVitalik Buterin, the co-founder of Ethereum (ETH), has again taken to Twitter to warn against naive bullishness in the decentralized finance (DeFi) sector, comparing the economics of yield farming tokens to the Federal Reserve’s money printing.Yield farming - providing liquidity to earn interest in the form of tokens - has
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