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.

Finance

Here’s How $200M in Crypto Was Drained From Nomad Protocol, According to a Security Expert

Halborn Chief Information Security Officer Steven Walbroehl joined CoinDesk TV’s “First Mover” to discuss how Nomad’s bridge lost $200 million in less than 24 hours.

By Fran VelasquezAug 2, 2022

Nearly $200 million was drained from cross chain messaging protocol Nomad. (Isravel Raj via Unsplash)

Finance

Lending Platform Vires.Finance Gets Go-Ahead for Repayment Plan

Waves governance token holders have voted to give investors a choice between moving forward with withdrawal requests or waiting until market conditions improve.

By Elizabeth NapolitanoAug 2, 2022

Tech

Ankr Introduces Token-Staking Tool Kits for Yield-Hunting Communities

The product will initially be offered on Ethereum, Polygon, BNB Chain, Avalanche, and Fantom networks.

By Shaurya MalwaAug 2, 2022

Lido's stETH adds liquidity to ether that has been staked. (Aditya Siva/Unsplash)

Finance

Sygnum Bank Expands Staking to Cardano

Cardano's ADA joins Ethereum's ETH, Internet Computer's ICP and Tezos' YTZ in the firm's staking offerings, which are integrated with its banking platform.

By Jamie CrawleyAug 2, 2022