DeFi News and Information Today

How censorship-proof is crypto? The war has begun

Aug 19, 2022

After the sanctions two weeks ago against mixer Tornado Cash, the discussion has flared up in the crypto world about how censorship-resistant crypto is. Addresses that were hit could no longer trade on Aave, for example. If it is already so easy to put down DeFi, what does this mean for the future of crypto? How censorship-proof are Ethereum and Bitcoin anyway?

MakerDAO is weighing in to drop USDC for Ethereum

Aug 12, 2022

MakerDAO is a decentralized stablecoin protocol that works fine. The protocol’s stablecoin is backed by digital assets like USDC. Recently it became clear that Circle, the issuer of USDC, would follow through and start to freeze funds on the Ethereum blockchain when the US Department of the Treasury sanctioned Tornado Cash. There is a huge debate going on whether this is a good thing or if a decentralized economy should be 100 % censorship resistant no matter what. Why is MakerDAO discussing turning in $3,5 billion USDC for Ethereum and is this a good idea?

UNI holders likely to vote in favor of fee switch

Aug 07, 2022

An overwhelming majority of UNI holders are voting in favor of the pilot to introduce a fee switch. This means that in the future, Uniswap's liquidity providers may receive a fraction less of the transaction fees paid by traders. The money this would free up could be used for the development of Uniswap.

Waves: Community votes to reboot Vires.Finance

Aug 03, 2022

Terra wasn’t the only protocol that saw a stablecoin crisis. Waves also took a big loss one month prior in April when the stablecoin Neutrino USD (USDN) started depegging. Another consequence was a liquidity crisis for the DeFi protocol Vires Finance. Vires provides similar services as Aave or Compound on Ethereum. It seems that the community came to a resolution on how to deal with this situation and revive Vires Finance.

Curve is developing its own stablecoin, is this the right time?

Jul 27, 2022

Stablecoins are facing a tough time in 2022. In May Terra failed and about $60 billion got lost within weeks. The aftermath of the crash is keeping the market and regulators still busy. Even established stablecoins as USDT and USDC came under scrutiny by investors, despite the fact that none of the rumors about their balance sheets have been proven so far. Curve DAO is developing its own stablecoin and it seems that its approach is very different from Terra and UST.

Lido will allow staked Eth on Layer 2's

Jul 19, 2022

Lido announced that it will make it possible to trade a wrapped version of staked Ether (stEth) on Layer-2 solutions for Ethereum. This will make it cheaper for users to move around their stEth and, for example, generate yield on it.

Uniswap and the fee switch: will it happen?

Jul 18, 2022

Uniswap is the original decentralized exchange and still unique in a few ways. Besides being innovative - it will soon allow NFT's to be traded - it is conservative in another respect: the trading fees don't accrue to the holders of its coin UNI. Will this stay the same or will the so-called fee switch be enabled?

Polygon is the new home for Terra DApps and NFTs

Jul 12, 2022

Terra crashed in May 2022 and while this statement is true when it comes down to the stablecoin TerraUSD (UST) the rest of Terra’s ecosystem on its blockchain survived. Among those survivors were lending protocols, NFT marketplaces, and NFT collections to just name a few examples. How did the remaining projects deal with the difficult situation and how are they going to continue?

What is WalletConnect?

Jun 30, 2022

WalletConnect is a kind of API that connects your crypto wallet to decentralized applications (dApps). This way, you can get going with your crypto assets, no matter which wallet you use and no matter which dApp you want to use.

As dYdX builds on Cosmos, ATOM rebounds

Jun 29, 2022

Over the last ten days, Cosmos (ATOM) has done a bit better than the other Layer 1s (Avalanche also did well). The rebound of Cosmos probably has to do with the fact that dYdX announced to choose this blockchain instead of Ethereum.

DeFi running fine despite the crash

Jun 23, 2022

Although crypto as an industry unfortunately does not look good in the recent crash, it is notable that the chaos is caused by the centralized lending platforms and hedge funds. Decentralized Finance (DeFi) in particular has continued to run smoothly. The exceptions are Bancor and Solend.

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