Since making its first investment in October, Polychain Capital is now the 10th-largest holder of YFI. Institutional money appears to be flowing into the decentralized finance (DeFi) sector, with Yearn Finance (YFI) among the top beneficiaries. According to crypto market data aggregator IntoTheBlock, on-chain transactions of $100,000 or higher have increased by 282% over the […]
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The interoperability protocol seeks to expand beyond Ethereum and create cross-chain functionality In a blog post on Friday, 0x Labs product manager Theo Gonella laid out the protocol’s ambitious plans to direct development towards a promising, if technically tricky horizon for permissionless exchange: seamlessly connecting the growing constellation of viable layer-1 blockchain platforms. The Ethereum-based […]
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DeFi has been the name of the game since the start of the summer, but how much is the sector really growing? The hype surrounding decentralized finance is sometimes credited with triggering a wider market rally in July, as new protocols began releasing tokens that were immediately posting gains of many times their initial value. […]
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Decentralized prediction market platform Augur has completed its v2 upgrade, introducing a host of DeFi features onto the platform. Decentralized predictive betting market platform Augur (REP) has announced the successful deployment of its v2 upgrade. The upgrade is intended to address bugs and vulnerabilities identified with the existing platform and its rules surrounding betting markets, […]
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DeFi earnings fell in Q2 as MakerDAO dropped the savings rate and Synthetix began reporting its actual earnings. The DeFi industry may be booming this year, but a new report shows earnings have fallen despite a huge surge in token prices. The second quarter token report from Bankless, a DeFi focused newsletter from Mythos Capital […]
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The founder of the first crypto venture capital firm believes that altcoins will eventually provide better returns than Bitcoin. Dan Morehead, the founder of the first crypto venture capital firm, Pantera Capital, believes that altcoins will outperform Bitcoin (BTC) over the next couple of years. Speaking at the Unitize virtual event, Morehead said that in […]
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Facebook’s Forecast app has been launched in beta even as the blockchain-based Augur platform readies for its v2 revamp. Facebook’s research and development engineers have launched a community platform built around predictions, encroaching on the territory of the emerging crypto-powered predictive market sector. Dubbed ‘Forecast’, Facebook’s new iOS app polls users on a variety of […]
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The Compound community approved a proposal calling for the distribution of the COMP token to all users of the DeFi protocol. Compound’s governance token will be available for distribution to all users of the decentralized finance (DeFi) protocol beginning on June 15. According to a June 10 tweet from Compound, the lending platform responsible for […]
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MKR is up 30% in 24 hours following the MakerDAO community’s vote in favor of introducing tokenized “real-world” assets as collateral for Dai loans. The price of MakerDAO (MKR) has rallied by roughly 30% over the past 24 hours, posting a new year-to-date high above $720 on some exchanges. The rally follows a late May […]
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Though cryptocurrencies are difficult to evaluate properly, DeFi protocol revenue allows stock market measures like P/E to be used. While it is difficult to define the intrinsic value of most cryptocurrencies, decentralized finance, or DeFi, tokens appear to be an important exception. As explained by Lucas Campbell, analyst at Fitzner Blockchain Consulting, in his Bankless […]
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