Compound’s COMP token has been wildly successful in the initial period since launching. What’s behind it, and is it sustainable? When Compound launched its governance token, COMP, on June 16, few in the crypto space could have predicted how rapidly it would rise to the top. As Cointelegraph reported at the time, it only took […]
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Balancer hacked twice within 24 hours, though this time the sum is relatively small. We recently reported that the Balancer DeFit protocol suffered a $500,000 attack. Less than 24 hours later, a second attack claimed about $2,300 worth of Compound tokens (COMP). Hao, an engineer at DeBank, tweeted that an attacker was able to fool […]
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Speed, reliability and availability are the cornerstones of modern finance, and DeFi has the potential to enhance and even supplant traditional finance. When blockchain technology began to expand beyond Bitcoin (BTC) and into more general-purpose applications, many within the industry saw an opportunity to remake key financial infrastructure using this technology. They soon came to […]
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A spat between the Balancer and STA team following the $500,000 hack suggests that the DeFi protocol was aware of the weakness. The Balancer automated market maker protocol has been hacked for over $500,000 in a single Ether (ETH) transaction, facilitated once again by a dYdX flash loan. As analyzed by the 1inch.exchange team a […]
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Researchers behind the June 2020 report from the Crypto Research Report used Bitcoin’s target addressable market to predict a rise to $397K. A new report from a crypto research group suggests that the price of Bitcoin could approach $400,000 in the next ten years, with altcoins following its bullish example. According to the June 2020 […]
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HODLing Bitcoin may pay off eventually, but it means one’s money isn’t working for them now, says Andreas Antonopoulos. Bitcoin educator Andreas Antonopoulos says there are risks behind any current method of earning steady income with one’s Bitcoin holdings, but DeFi offers one of the few ways to do so without “giving your money to […]
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There have been several significant movements forward for digital assets, and there are more to come. Here’s what to keep an eye on. The fintech industry has been changing rapidly. Digital assets, distributed ledger technology and central bank digital currencies are gaining momentum. Multi-trillion-dollar United States Federal Reserve System money creation has increased demand for […]
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A DeFi lending platform for cryptocurrency, Kava Labs, could be described as the “Uber of Bitcoin,” as the platform represents an Uber-like business model. Today’s most successful entrepreneurs tapped into their wealth through startup technology companies such as Amazon, Oracle, Facebook and Microsoft. Just ask Jeff Bezos, Larry Ellison, Mark Zuckerberg and Bill Gates, who […]
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Using digital assets to earn yields and borrow capital became possible thanks to crypto lending, one of the fastest-growing sectors in the crypto ecosystem. Crypto lending, one of the fastest-growing industries in the blockchain ecosystem, has made it possible to earn yields and borrow capital using digital assets. According to a report by research company […]
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The DeFi sector is seeing rapid growth in use and volume. Some appear concerned about a bursting bubble, but could it be natural growth? Decentralized finance is all about cutting out traditional financial intermediaries such as banks. Through the use of blockchain technology, DeFi platforms allow individuals to generate money against their own assets, becoming […]
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