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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.
DeFi Recovery in 2023?
Optimism about the DeFi recovery is growing, and lenders in the sector might be at the heart of it. That story and other news shaping the cryptocurrency world in this episode of "The Daily Forkast."
Galaxy Digital, PayPal Lead $20M Fundraise for Chaos Labs
The startup offers an automatic economic security system and simulation engine for decentralized finance projects.
Deutsche Bank Completes Asset Management Test With Memento Blockchain, Putting Domani's DEXTF Tokens Into Focus
The collaboration between Deutsche Bank and Memento Blockchain aims to address the challenges associated with launching and accessing digital asset funds.
Hundreds of Fake ChatGPT Tokens Are Luring Crypto Punters, Majority Issued on BNB Chain
Hundreds of such tokens have been issued in the past few weeks. Of this, 132 different tokens have been issued on BNB Chain, the most among blockchains.
Crypto Protocol Fetch.ai Partners With Bosch to Develop Web3 and AI Tech
It will have a three-tier governance structure and be inspired by the Linux Foundation's decentralized innovation model.
Arbitrum-Based Factor Raises $4M on First Day of Token Offering
Factor allows users to provide asset management services to communities without learning complex code for deploying such tools.
Helium to Fully Migrate to Solana Blockchain by March 27
This upgrade will encompass all wallets, Hotspots and Helium Network state, and will take place over a 24-hour transition period commencing at approximately 15:00 UTC.
Filecoin’s FIL Token Jumps More Than 30%, Sparking Interest in Virtual Machine Launch
It wasn’t immediately clear what prompted the rally.
How Solvency Check Error Led to USP Depegging on Avalanche-Based Platypus Finance
Platypus Finance’s native stablecoin fell to 48 cents from $1 earlier on Friday following the attack.
USP Stablecoin Loses Dollar Peg as DeFi Protocol Platypus Suffers $8.5M Attack
The flash loan attack caused Platypus Finance’s native stablecoin to fall to 48 cents from $1. The potential loss is $8.5 million, according to blockchain security firm CertiK.
