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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.
Some Numbers That Show Why Yield Farming COMP Is So Seductive
COMP has created a sudden craze for "yield farming." Here are three scenarios illustrating the risks and rewards of DeFi's latest trend.
This Startup Is Forking Compound to Make Hiring More Efficient
Braintrust launched out of stealth mode Wednesday, backed by a $6 million seed round featuring True Ventures, Homebrew Ventures, Uprising Ventures, Galaxy Digital, IDEO CoLab, Kindred Ventures and Vy Capital.
Market Wrap: Bitcoin Trading Flat, Holding at $9.6K
Trading volume in the crypto market weakened Tuesday but bitcoin is still holding strong from a recent rally.
Following COMP's Surge, DeFi Platform Balancer Begins Distribution of BAL Tokens
Balancer Labs, the maker of an automated portfolio management tool, has confirmed to CoinDesk it has begun distribution of its BAL token.
DeFi Protocols Should Act More Like Fiduciaries
Open protocols can help reform the financial system, says our columnist. But they need to come with safeguards consumers understand.
Market Wrap: Bitcoin Hits $9.6K as Bullish Crypto Sentiment Returns
Bitcoin is back in bullish territory but can the buying last?
DeFi Hedging Startup Opyn Raises $2.16M Seed Round Led by Dragonfly Capital
Opyn, a hedging instrument for decentralized finance (DeFi) has closed a $2.16 million funding round led by Dragonfly Capital.
Compound Tops MakerDAO, Now Has the Most Value Staked in DeFi
Compound has overthrown MakerDAO as the decentralized finance protocol with the most value staked, locking $484 million to Maker's $481 million on Saturday.
DeFi Startups Built on Compound Weigh What to Do With $200 COMP Tokens
Startups built on Compound's decentralized lending protocol are now pondering the second-order effects of COMP's price surge.
Tether's Supply on Compound Jumps to Over $224M in a Week
Tether's volume on decentralized lender Compound has quadrupled to over $224 million in just a few days, and is by far the dominant stablecoin on the platform.
