For all the optimism about the potential for NFTs – or non-fungible tokens – to revolutionize digital collectibles, one important drawback has been hanging over the sector; lack of liquidity.  NFTX is seeking to address the issue by debuting an NFT liquidity pool. “NFTX is a platform for making ERC20 tokens that are backed by…

YAM holders voted to remove the token’s rebase mechanisms, which expanded and contracted supply seeking to  establish a stable price, after taking DeFi by storm this summer. Rebases issued and burned new tokens based on the price of YAM, targeting a $1 peg. After migrating to YAM V2 following a smart contract exploit that caused…

The good news: Ethereum is booming. The bad news: gas fees are, too. ETH is surging past $1k—the highest it’s been since the crypto boom of January 2018. Investors have taken notice, with the co-founder of Three Arrows Capital hedge fund (which just made headlines for their SEC filing stating $1.3 billion in Grayscale Bitcoin…

As ETH crosses $1k, DeFi is hitting its own set of milestones. The last time the world’s second-largest cryptocurrency reached four digits was during the blockchain mania that was early January of 2018. Unlike the last bull run, however, Ethereum is buoyed not by ICOs but by DeFi.  With dapps built on Ethereum enabling permissionless…

TLDR: At the start of the year, I invested $1,100 in 10 DeFi applications, plus MakerDAO’s Dai Savings rate as a benchmark. The requirement was that they could give me passive income; I would just send 100 Dai into their smart contracts, never touch it again, and then hopefully have more than 100 Dai at…

DEX aggregator 1inch surprised DeFi users with a holiday treat with the release of the 1INCH governance token on Christmas Eve. 1INCH features a total supply of 1.5B tokens, which unlocks every 6 months over the course of the next 4 years. Tokens were airdropped to all wallets that made at least one trade before…

Decentralized insurance platform, Opyn, announced the release of “Gamma Protocol,” second version of its options protocol. The new upgrade aims to add capital efficiency and liquidity to the DeFi options market. Among the changes, Gamma Protocol provides mint options without collateral as long as they are burned before the end of the transaction – similar…

DeFi’s rising insurance protocol Cover Finance was exploited for $9.4M worth of user funds after a group of hackers used a faulty smart contract to mint quadrillions of COVER tokens. Cover Finance allows users to buy smart contract protection on supported DeFi protocols by buying CLAIM tokens that can be redeemed in the event of…

The Link marines are on the backfoot after last week’s flash crash to $7 pushed investors towards a risk-off stance. The cryptocurrency trades just under a pivotal $12-$13 order block, signaling that the market wipe might not be over yet. Seller’s Market Chainlink entered a sellers’ market on Dec. 23 as the altcoin succumbed to…

2020 was a big year for DeFi. The sector became the engine behind the crypto renaissance that saw BTC break through $24K and the industry’s market cap push past $680B. Decentralized applications finally started to see sustained usage and the industry took a giant step forward in realizing its macro vision for a web3 economy.…