DEFI

 

What is DeFi?
Decentralized Finance, DeFi as a concept is to be able to offer almost all the financial services available with legacy and centralized institutions, typically banks, but on the blockchain. Whatever traditional services financial institutions provide can be expected to be offered through DeFi. In short, Defi is blockchain-based financial services that traditional financial services map into, creating new services or derivatives stemming from blockchain's unique features. Although we have had concepts like distributed computing and decentralized computing for decades, DeFi is in fact a new concept and an expansion of the application scope of blockchain as infrastructure.

Wormhole DeFi Bridge Rewards $10m Bug Bounty
WormHole, a DeFi-based bridge protocol has paid out $10 million in Whitehat bounty for discovering cybersecurity loophole in its protocol, preventing the potential breach from hackers.
The BTC-Stock Correlation at Its Peak. When Will It End? The 4 Top Gainers in DeFi
The crypto world is one brimming with possibilities, and it is unlikely to stagnate, however only the strongest projects will survive
Luna Trading Draws Online Discussions in China Despite Crypto Ban
Despite being banned in China, cryptocurrency is gaining attraction in the country as the value of some of the world’s most prevailing digital currencies and Non-fungible tokens (NFTs) has increased.
Australian Crypto Market Tanks on the Arrival of Bitcoin and Ethereum EFTs
Australia’s digital currency exchanges began trading funds on Thursday amid a breakdown in the digital tokens.
Crypto Market Onslaught Stretches to DeFi as TVL Slumps to $114bn
With a broad-based caution being exercised by investors with regards to risk assets, there has been a massive outflow of funds from DeFi protocols as many investors anticipate calm to re-engulf the ecosystem.
Illicit Activities in DeFi Sector Seen Rising in Past Two Years: Chainalysis
Illicit cryptocurrency transactions in the decentralized finance (DeFi) sector have been rising over the last two years, according to the Web3 Safety & Compliance report from Chainalysis.
Fintech Firm Bitlocus to Launch Crypto-Friendly Visa Debit Cards
The card will enable Bitlocus customers to transact their crypto holdings while also using the resulting funds anywhere Visa is accepted.
DeFi TVL Drops below $200Bn, Reflecting General Bearish Market Slump
The Total Value Locked (TVL) in DeFi platforms has slumped below $200 billion down from the $230 billion towards the end of April.
Singapore’s Cake DeFi Launches New Loan Service, Accepting Crypto as Collateral
Customers of Cake DeFi platform will now be able to get cash loans by placing their cryptocurrencies as collateral.
Fireblocks Adds Support for Terra-Based DeFi Services as Institutional Demand Soars
Institutional investors can now access all of the DeFi applications on the Terra-based blockchain protocol on Fireblocks as announced by the firm on Tuesday.

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