Full-text search across article titles and summaries. Refine with sector, year, content type, and reading-time filters.
A Redditor posted an analysis of why he thinks Lido’s market share is a threat to the entire ETH ecosystem. LDO holders have voted against self-limiting inbound stake flow. This means that the only real option to combat this large stake share is for other protocols to crop up and take share.
Giddy has partnered with Bitrefill to allow users to use DeFi yield for real-world purchases, offering auto-compounding and a variety of payment options across 5,600+ retailers.
Binance is reportedly in talks to allow institutional clients to hold their trading collateral in banks rather than on the platform to mitigate counterparty risk. This move comes in the wake of concerns over custody and segregation of assets following the FTX collapse. Under this arrangement, bank deposits could serve as collateral for margin trading. Banks that are reported as being involved in the program include Swiss-based FlowBank and Liechtenstein-based Bank Frick. This proposal aims to provide clients protection from potential exchange failures and align with new Asian and European regulatory standards.
Fantom has launched a gas monetization initiative designed to spur developer adoption. The program offers a 15% kickback on all gas fees generated by high-quality dApps. The funding comes from a reduction in the FTM token burn rate from 20% to 5%. To qualify, a dApp must have completed at least 1 million transactions and been live on Fantom for a minimum of three months. Since the program's launch just a few days ago, dApps have already generated over 11,000 FTM in rewards. The initiative is an interesting approach to increase developer retention and attempt to build a sustainable network.
The big news this week was China’s web3 white paper, which indicated plans to thoroughly develop web3 tech and embrace concepts like NFTs and the Metaverse. The government plans to encourage the development of its own version of web3 through a "whole-of-government" approach, similar to its Web 2.0 strategy. The paper does not endorse Bitcoin or Ethereum, but shows a deep understanding of web3 tech. This could be a signal that while China acknowledges the potential of web3, it may not lift restrictions on cryptocurrency trading.
This thread gives a brief overview of why and how crypto users should utilize a multisig. A multisig program relies on multiple private keys to secure on-chain assets, offering better protection against compromised keys and reducing single points of failure, compared to traditional hardware wallets that rely on single seed phrases or keys. The article suggests a 2-of-3 or 3-of-5 key setup for a balance between security and transaction convenience, and emphasizes the importance of using multiple wallets stored on separate devices.
Gemini, the exchange co-founded by Tyler and Cameron Winklevoss, has been facing a series of challenges including regulatory scrutiny, dwindling market share, and the potential loss of a banking partner. To make matters worse, a critical loan repayment deadline that could aid in the recovery of $900 million from the exchange's defunct Earn product has been missed. As they attempt to navigate the convergence of these crises, the twins seem to have been eyeing a couple of different options, such as moving the company overseas and/or leveraging interest in derivatives trading to get traction in that market and drive more trading volume.
This tweet explains how depositing USDC into the largest Uniswap ETH/USDC pool as one-sided liquidity with an unlikely-to-be-touched price essentially allows for safe, blacklist-resistant handling of USDC.
Nansen announced yesterday that it has made the decision to lay off 30% of its staff. With a leaner team, Nansen will be reducing its product surface area and creating more runway for the company.
Astaria, a new NFT-backed lending protocol, prioritizes borrowers by providing immediate liquidity, fixed terms, and eliminating forced liquidations. The platform employs a unique three-actor model (borrower, liquidity provider, and strategist) for NFT-backed lending. Users can borrow from various supported collections, including Moonbirds, Bored Apes, and others. To incentivize participation, liquidity providers depositing 1 ETH into the designated pool will receive an $LSD token that can be redeemed for a piece of physical blotter paper in July.
Curve has introduced a novel lending-liquidating algorithm, LLAMMA, that aims to improve the process of liquidation in DeFi lending. Rather than using "hard liquidations", which are common in overcollateralized lending, LLAMMA uses a "soft liquidation" process which gradually liquidates collateral across a price range, potentially mitigating loss for borrowers. How it works is that borrowers deposit collateral into LLAMMA, receive debt in Curve's stablecoin crvUSD, and have collateral spread across bands to create a liquidation range. The protocol relies on oracle prices and arbitrage opportunities to maintain solvency and operate the soft liquidation process.
The winning bid for Celsius involves creditors owed more than $5,000 becoming shareholders in a new company managed by Farenheit, which includes Celsius' DeFi crypto assets, loan portfolio, PE & VC investments, and mining assets. A small distribution of remaining liquid crypto will also be given. Those owed less than $5000 will receive 70% of their claims and no equity. This arrangement is a compromise as, while the creditors surrender their debt claims against Celsius, they gain a stake in the potentially profitable NewCo. If the NewCo isn’t successful though, creditors’ equity stakes will be wiped out.
Often, the most helpful information you find in crypto is buried deep in a Discord server or Telegram chat. This thread compiles some of the best Telegram chats to follow across different topics like general roundups, news, research, small-cap coins, and more.
Cicada is a new, open-source Solidity library designed for private on-chain voting on Ethereum. This system leverages time-lock puzzles and zk proofs to maintain voting privacy. Current on-chain voting systems are vulnerable to manipulation due to lack of privacy, but Cicada aims to mitigate this risk by offering running tally privacy, ensuring vote counts remain confidential until the voting period concludes. The tool also provides a framework that can be combined with anonymous voter eligibility protocols to enhance ballot privacy.
Gravita, a fork of the Liquity protocol, has introduced a new stablecoin, leading to speculation about a future airdrop. To maximize your potential airdrop eligibility, you can follow these steps: mint Gravita's Debt Tokens, contribute to the protocol's stability pool, and provide liquidity for GRAI on Uniswap. As a little background on the protocol, Gravita is seeking to overcome limitations of Liquity, accepting bLUSD and LSDs as collateral.
This thread explains the concept of "The Autonomous World" and explores the creation of decentralized on-chain games, where rules and game states are built and managed on-chain. Advantages of these types of games include enhanced composability, asset ownership verification, and player-influenced development. However, some challenges persist, such as a lack of frameworks and scalability concerns. The goal of most of the on-chain game development going on right now is to push the boundaries of what is possible, experimenting with novel technologies like sharded rollups, zk proofs, and more.
Celsius, the now defunct crypto lending platform, is set to relaunch under new management after Fahrenheit LLC, led by investment firm Arrington Capital, who won the bid to manage Celsius's assets. The Fahrenheit consortium will provide resources to revive the company, which will be owned by Celsius's creditors, and in return, the Fahrenheit team will earn an annual $35 million management fee.
Yesterday, rumors were swirling about strange activity from Mutichain after a ‘Force Majeure’. This prompted traders to assess what kind of exposure different protocols had, and Fantom stuck out with $650m of its TVL and $458m of its stablecoin ecosystem exposed.
DCG, already dealing with its bankrupt lending business, is now shutting down its TradeBlock subsidiary, which offers services to institutional investors. DCG acquired TradeBlock in 2020 but is now citing economic and regulatory concerns for the shutdown.
In response to community feedback, Metaplex will not charge fees for updating, verifying, freezing, and thawing, but fees will still remain when users mint NFTs. Adjustments will also likely be made if SOL rises significantly.
Synthetix has surpassed GMX in trading volume, driven by several key factors. It lowered trading fees to as low as 0.02% for certain pairs, significantly increasing trade volume. Additionally, an airdrop program incentivizes traders with $OP tokens that essentially outpace the trading fees they incur on the protocol. Increased decentralization, with trades settled by incentivized keepers and the use of Pyth Network as a primary oracle, has given it greater trust and uptime. Further, decentralizing frontends has increased Synthetix's censorship resistance.
Safer is a tool designed to help sign and submit transactions to a Safe without the need for interaction with Safe's backend or frontend. It is especially useful when the Safe App is down and only the chain can be trusted or used. Safer allows users to execute complex transactions without intermediaries, enhancing DAO resilience. The tool also supports various hardware wallets for signing and is an effective fallback for ensuring continuity when there are problems with Safe or any other application using these features.
The Curve ecosystem has unique tokenomics and a token emission model with incentives that have fostered a healthy ecosystem and attracted a range of key players including Convex, Yearn, Frax, Conic, Stake DAO, Pirex, Votium Protocol, Llama Airforce, and more. Each of these entities has unique interactions with CRV tokens, from aggregating them, leveraging them to generate yield, or using them as part of yield and governance strategies.
Base, Coinbase’s L2, is preparing for its mainnet launch and has outlined launch criteria including successful testnet stability and audit completion.