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🇪🇺 MiCA Interpretation Threatens to Limit DeFi for Regular Users
The European Union’s (EU) regulatory landscape for cryptocurrency could be on the verge of a significant shift, potentially impacting everyday users’ access to decentralized finance (DeFi). Rune Christensen, co-founder of the MakerDAO project, a prominent DeFi protocol, has raised concerns about a strict interpretation of the Markets in Crypto Assets (MiCA) regulation. Christensen suggests that under a specific interpretation of MiCA, DeFi frontends, user interfaces that make interacting with DeFi protocols easier, might require licenses to operate within the EU. This, he argues, could have a crippling effect on DeFi adoption in the region.
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/channel/DeFi_Ethereum
⚡️ BTCFi innovation to match Ethereum DeFi in the future — MerlinSwap co-founder
Bitcoin decentralized finance (DeFi), or BTCFi, is a recent paradigm seeking to bring DeFi capabilities to the world’s first blockchain network. Provided that its current adoption rate continues, BTCFi could match the innovation of Ethereum-based DeFi in the future. Showcasing investor demand for Bitcoin-native DeFi applications, decentralized exchange (DEX) MerlinSwap raised 6,599 Bitcoin worth $480 million during its initial DEX offering (IDO) on April 5. The IDO attracted over 52,000 participants.
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/channel/DeFi_Ethereum
🇪🇺 Upcoming DeFi rules in Europe could ban non-decentralized protocols
Decentralized finance protocols in Europe could soon be under new regulations as the European Commission evaluates the space. According to the Markets in Crypto-Assets (MiCA) — the regulatory framework that governs digital assets within the region — the European Commission is required to prepare a report by Dec. 30, 2024, evaluating the decentralized finance market and the feasibility of specific regulations for the sector.
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/channel/DeFi_Ethereum
📣 DeFi developers behind crypto exchange Phoenix close $20 million Series A round
Ellipsis Labs today announced $20 million in Series A funding, led by Paradigm with participation from Electric Capital. The company’s debut product, a decentralized exchange called Phoenix, went live in February 2023, with its public-facing user interface launching last August. The funding will accelerate its efforts to “create a new financial ecosystem that offers competitive financial products on top of high-throughput blockchains,” the company said in a statement.
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/channel/DeFi_Ethereum
⬜️ OKX Wallet Now Integrated with DeFi Platform nftperp
OKX Wallet is now integrated with nftperp, an open-source DeFi platform that enables users to trade on the price of NFT collections. This strategic partnership will allow eligible OKX Wallet users to trade on the value of NFTs using perpetual futures contracts, all in a seamless, secure, and self-custodial manner through the OKX Wallet web extension. This integration is in line with OKX Wallet's commitment to providing its users with innovative solutions that enhance their Web3 experience.
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/channel/DeFi_Ethereum
📊 DeFi Protocol Cega's New Options Product Marries Gold, Ether to Offer Up to 83% Yield
Decentralized finance (DeFi) projects are continuing to develop structured products, which offer decent returns, market exposure and protection from losses and were previously available only to institutional investors in traditional markets. Last week, derivatives protocol Cega unveiled Gold Rush, a basket options strategy involving the Ethereum blockchain's ether (ETH) token and Tether's gold-backed {{XAUT}} as underlying assets alongside a safety component that protects users' capital from a 30% drop in the assets' prices.
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📊 Defi Platforms Lose More Than $336 Million in Digital Funds in Q1 of 2024, Study Finds
In the first quarter of 2024, more than $336 million in digital assets were stolen from decentralized finance platforms across 61 incidents of hacking and fraud. During this period, criminals made off with digital assets valued at $144.48 million in two major hacking incidents. In contrast, centralized finance platforms reported no incidents of hacking or fraud in the first three months of the year.
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📣 LendFi Revolutionizes DeFi Landscape With Comprehensive App Launch
LendFi announces the launch of its innovative app, now available for download on both the iOS Store and Google PlayStore. This groundbreaking app introduces a suite of utility features designed to enhance user experience and financial empowerment. Among these are staking, peer-to-peer (P2P) lending, cryptocurrency swaps, integration with GameFi and non-fungible tokens (NFTs), and the pioneering use of artificial intelligence (AI).
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/channel/DeFi_Ethereum
🏦 Coinbase Wallet triumph over SEC allegations is a ‘giant win’ for DeFi
A U.S. judge has determined Coinbase’s self-custody crypto wallet doesn’t make it a broker, which lawyers say is a “significant setback” for the SEC and a boon for DeFi. U.S. District Judge Katherine Failla on March 27 denied Coinbase’s bid to dismiss a Securities and Exchange Commission’s lawsuit, finding the SEC “sufficiently pleaded” Coinbase was unlicensed and its crypto staking offering was unregistered securities.
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📣 DeFi Education Fund files lawsuit to exempt airdrops from SEC’s securities classification
The DeFi Education Fund, a crypto advocacy group, and Texas-based apparel company Beba LLC have jointly initiated legal proceedings against the US SEC to clarify the status of airdrops as non-securities offerings. The March 25 court filing emphasized the need to halt the SEC’s regulatory actions, which the two entities perceive as an overreach into the emerging industry.
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📣 DeFi Farming Game 'Crypto Valleys' Is Giving Players Juicy YIELD on Ethereum L2 Blast
Gaming activity is bubbling up on buzzy new Ethereum scaler Blast, and while one game has already fallen victim to an exploit on the nascent network, another is yielding rave reviews from players while driving Blast’s most-traded token. Crypto Valleys is the game in question, and it initially appears to tread upon similar ground as Pixels, the popular farming game on competing scaler Ronin.
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📣 DeFi vaults are the next frontier of automated asset management
DeFi vaults are the next frontier of automated asset managementDecentralized Finance (DeFi) vaults are emerging as a lucrative asset management tool for investors looking to maximize crypto market opportunities. However, while DeFi vaults have been around for some time, it is worth noting that they are still undergoing constant evolution to improve and expand the range of offerings and avoid some of the pitfalls witnessed in the past.
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🏦 Crypto.com DeFi Wallet Integrates with Jupiter for Solana Swaps
Jupiter Exchange, a prominent player in the Solana ecosystem, is renowned for its ability to provide users with the best possible swap rates. Jupiter aggregates liquidity across Solana, offering users competitive swap prices anytime. This integration allows Crypto.com DeFi Wallet users to swap Solana tokens directly, bypassing multiple platforms. By facilitating native token swaps within the Crypto.com DeFi Wallet, users can now enjoy the benefits of Solana’s efficiency directly from their wallets.
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📊 Top 10 DeFi dApps generating an average of $4.8 billion in fees annually
Total fees generated from the top 10 DeFi dApps tracks via DefiLlama will amount to $4.8 billion annually based on the past 24 hours of activity. Across staking, dexes, lending, and wallets, $13.15 million in fees were generated in the past day. Lido tops the chart for fee generation, while Curve retains the number one slot for revenue, with Maker and Lido just behind. Two of the biggest gaps between fees and revenue can be seen in Aave and Raydium, which generated over $1 million in fees over the past day.
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/channel/DeFi_Ethereum
📣 Cronos zkEVM and Covalent enhance DeFi with new integration
In a key partnership, Cronos and Covalent aim to enhance DeFi on Ethereum with faster, more affordable transactions via Cronos zkEVM. This integration is poised to bring some of the lowest and fastest transactions to the Ethereum ecosystem. The Covalent integration signifies a concerted effort to foster a more interconnected blockchain ecosystem, presenting Cronos developers with fresh opportunities for integration and application development through CQT’s data access.
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🪙 Restaking Emerges As Ethereum’s Second Largest DeFi Sector
The study highlights EigenLayer’s restaking protocol as an important component for new services and middleware on the Ethereum network, potentially offering significant ETH rewards for validators in the future. Ethereum’s proof-of-stake (PoS) consensus mechanism is the largest economic security fund in the crypto space, with nearly $112 billion. While validators securing the network traditionally earned base rewards on locked-up ETH, the introduction of liquid staked tokens (LSTs) paved the way for participants to engage with DeFi by trading or leveraging their staked assets.
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/channel/DeFi_Ethereum
💰 SushiSwap governance proposal suggests shifting DAO treasury assets to new Sushi Labs vault
SushiSwap governance proposal suggests transferring assets from the DAO-controlled treasury to a new one controlled by Sushi Labs, while also ensuring that all future airdrops are directed to the Sushi Labs vault. "We request that Sushi DAO award a grant of 25 million Sushi tokens to Sushi Labs, including assets from the Arbitrum airdrop, business development, and partner grants, Kanpai 2.0, Sushi 2.0, rewards, stablecoins, and 'Sushi House' funds," the proposal by SushiSwap developer Jiro said.
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/channel/DeFi_Ethereum
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📣 Picasso Network Integrates IBC with Ethereum for Enhanced DeFi
Picasso Network is now entitled to the Inter-Blockchain Communication (IBC) protocol with Ethereum. It facilitates sending assets and data across Ethereum as well as all Cosmos network nodes, considerably increasing communication between separate blockchains. “By connecting Ethereum with Cosmos through IBC and designating Osmosis as the primary liquidity hub, we are setting the stage for a new chapter in DeFi,”Composable Foundation Executive Director claims,” Henry Love stated.
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/channel/DeFi_Ethereum
📊 DeFi Protocol Ethena Labs’ ENA Token Goes Live
Ethena Labs, a decentralized finance (DeFi) platform renowned for its $1.3 billion yield-generating USDe token, has initiated the distribution process for its latest governance token, ENA. In a recent announcement on X, Ethena extended an invitation to USDe holders to claim their portion of the 750 million ENA tokens allocated for airdrop, constituting 5% of the total token supply. These tokens are slated to be listed on centralized exchanges.
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/channel/DeFi_Ethereum
📣 DeFi hub Chainage seeks tokenholder approval for $13M capital raise
Decentralized finance service provider Chainage, with around $100 million in total value locked, is seeking to raise $13 million for protocol expansion, contingent on tokenholders’ approval within its native decentralized autonomous organization (DAO). According to the April 1 snapshot proposal, the $13 million raise, led by an unknown venture capital firm, will result in the issuance of 50 million additional XCHNG protocol tokens, representing approximately 10% of Chainage’s circulating supply.
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/channel/DeFi_Ethereum
🪙 Uniswap DAO prepares to expand $5bn treasury beyond UNI
Uniswap DAO, crypto’s third-richest protocol with a $5 billion treasury, has been content to keep its reserves denominated solely in its native UNI token. But that may be changing. With Uniswap exploring a new revenue-sharing model that will include token holders, the DAO, which administers the decentralised exchange, is seeking ways to extend its runway without depleting the the project’s reserves.
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/channel/DeFi_Ethereum
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📣 Wellfield Announces Strategic DeFi Layer 2 Initiatives on Optimism
Wellfield Technologies Inc. (TSXV: WFLD) (FSE: K8D) (the "Company" or "Wellfield"), is excited to announce significant developments launching key initiatives exclusively within the Optimism ecosystem, a leading Ethereum Layer 2 (L2) solution. These initiatives, which have been in active development for some time, include the imminent rollout of Wellfield's tokenized gold ecosystem, a strategic upgrade of the Tradewind Ledger, Coinmama's self-custody wallet, and Wellfield's decentralized finance (DeFi) protocols.
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/channel/DeFi_Ethereum
🔵 Arbitrum community argues for memecoins over DeFi in $3.3 million DAO fund proposal
The Arbitrum Decentralized Autonomous Organization (DAO) is contemplating a $3.3 million memecoin fund to foster a memecoin-friendly ecosystem within the Ethereum layer-2 blockchain network, according to a March 24 proposal on the platform’s discourse forum. The author wrote the proposal in response to learning about new DeFi incentives, which they believe are throwing “more money at protocols so they can be farmed by whales/teams.”
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/channel/DeFi_Ethereum
📊 DeFi Project Targets Multibillion-Dollar Market with Groundbreaking DeFi Debit Card Launch
DeFi project develops a globally-supported debit card for daily purchases and financial transactions. DeFi offers anonymity and worldwide accessibility but falls short in user experience and broader application in daily life. Xuirin Finance introduces a DeFi debit card to connect decentralized finance with everyday spending habits. Its potential for innovation is frequently obscured by its complexity, making it an area primarily for those deeply involved in the crypto space.
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/channel/DeFi_Ethereum
📣 Thala partnership empowers Movement with DeFi features
Thala, a Move-based decentralized finance (DeFi) platform, announced today its deployment on Ethereum’s layer-2 (L2) blockchain Movement. Movement is the first L2 combining the Move programming language with the Ethereum Virtual Machine (EVM), and now will be powered by Thala’s decentralized exchange (DEX), stablecoin, liquid staking, and token launchpad services.
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/channel/DeFi_Ethereum
📣 MonkeysLIST launches DeFi liquidity pools on Uniswap, PancakeSwap, and Raydium
MonkeysLIST ($MLIST) debuts on DeFi giants Uniswap, PancakeSwap, and Raydium, opening new liquidity pools and expanding trading opportunities. In a new chapter for DeFi enthusiasts, MonkeysLIST ($MLIST) is taking a giant leap into the decentralized finance (DeFi) ecosystem by launching its very own liquidity pools on Uniswap, PancakeSwap, and Raydium.
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/channel/DeFi_Ethereum
💰 1inch Network Integrates Lumia To Help DeFi Liquidity
The 1inch Network, a cornerstone in the decentralized finance (DeFi) arena, has recently announced its integration with Lumia. It aims to bolster DeFi liquidity and challenge the competitive edge of centralized exchanges. During a 30% downtrend that has left stakeholders questioning the future, this integration could potentially be the catalyst for recovery.
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/channel/DeFi_Ethereum
📣 Defi platforms see over $5.4m in liquidations as Ethereum declines
Ethereum took the most brutal hit, accounting for $4.2 million of the total liquidations. According to data from Parsec, a further threat of destabilization if ETH drops to $3,008 could trigger an additional $24 million in liquidations. On-chain derivatives exchanges such as GMX, Kwenta, and Polynomial have been at the center of these liquidations, which cumulatively triggered over $52 million in the past day alone.
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/channel/DeFi_Ethereum
