Institutions are keen on DeFi, and its use among them is growing, but on-chain risks are hamstringing further adoption, says Fireblocks’ Shahar Madar.
Category: defi
Auto Added by WPeMatico
Orbs VP Ran Hammer Says Future of Defi ‘Hinges on Liquidity Aggregation’
Although decentralized finance (defi) platforms have traditionally focused more on maintaining liquidity and volumes in their respective pools, Ran Hammer, the vice president of business development at Orbs, believes that “the future of defi hinges on liquidity aggregation.” According to Hammer, this shift is evidenced by the emergence of dominant aggregators that optimize trades by […]Study: Three-Quarters of Defi’s Total Value Locked Earn 5% APY in Low-Risk Contracts
In the first quarter of 2024, approximately $43.8 billion, or 76% of the decentralized finance yield market, earned an annual percentage yield (APY) of about 5% in very low-risk contracts. Staking played a crucial role in the resurgence of decentralized finance, bolstered by the Ethereum network’s transition to a Proof-of-Stake model. The bridging sector experienced […]Drift Foundation Announces 100 Million Token Airdrop for Solana-Based Dex Users
On April 16, 2024, the Drift Foundation, which supports the Solana-based decentralized exchange (dex) platform Drift, disclosed plans to distribute 100 million tokens to its users. The tokens will function as the platform’s governance coin, to be utilized by the community and the Drift decentralized autonomous organization (DAO). Solana-Based Dex Platform Drift to Distribute Governance […]Liquid Staking Derivatives Lose Ground With Over 380,000 ETH Withdrawn in April
Following a significant downturn in March, liquid staking derivatives (LSD) protocols experienced another withdrawal of 380,000 ether, valued at roughly $1.17 billion, from leading LSD platforms since April 1, 2024. Ethereum Exodus: $1.17 Billion Pulled From LSD Platforms In the initial two weeks of April, a notable reduction of 380,000 ether was observed in the […]First Digital Labs to Launch FDUSD on L1 Blockchain Network Sui
The stablecoin issuer First Digital Labs has announced its intention to debut its dollar-pegged token FDUSD on the Sui network. This collaboration is described as a “strategic alliance aimed at enhancing liquidity and efficiency of transactions.” FDUSD to Integrate With Sui Blockchain First Digital Labs, the issuer and asset manager of the fourth-biggest stablecoin in […]Uniswap Labs Receives SEC Wells Notice, Founder Vows to Fight
In a recent social media post, Hayden Adams, the founder of Uniswap Labs, announced that the company has received a Wells notice from the Securities and Exchange Commission (SEC), expressing his disappointment and determination to contest the notice. SEC Sends Decentralized Exchange Uniswap a Wells Notice Hayden Adams, the founder behind the decentralized finance (defi) […]Filecoin Staking Protocol Core Team Detained by Chinese Police; $22 Million in FIL Tokens Sent to Unknown Address
STFIL, the Filecoin liquid staking protocol, believes its core technical team is being investigated by the Chinese police. The STFIL team said it also recently detected abnormal and unscheduled upgrades to the protocol. During the core technical team’s detention, FIL tokens worth over $22 million were transferred to an unknown external address. Lawyers Engaged to […]Bug in Discontinued Lido Staking Service Blocks User Access to Tokens Valued at $24.4 Million
A bug in the smart contract of Lido’s discontinued Solana staking service is reportedly preventing users from withdrawing digital assets valued at more than $24 million. Lido attributes this issue to “a problem with the maintainer bot and the recent update of rent-exempt terms for Solana staking accounts.” Discontinued Solana Staking Service A suspected bug […]Polygon CEO: L3s Might Represent a Threat to Ethereum’s Security
Marc Boiron, CEO of Polygon, an Ethereum-compatible sidechain scaling solution, gave his take on the rise of Layer 3 (L3) scaling structures in the Ethereum ecosystem. According to Boiron, L3s only take value away from Ethereum’s chain and concentrate it in their corresponding base L2, creating a security risk for the network. Polygon CEO Criticizes […]