DeFi News
One effect of cryptocurrency is that its tenets and technology have provided the foundation for a new type of finance. This is decentralized finance, also known as DeFi. Traditional financial institutions have offered services such as loans, derivatives, and money storage for quite a while now.
What makes DeFi different is that it gives users more control over how they store or handle their assets, thanks to the distributed ledger tech (DLT) and smart contracts that make everyone involved abide by prearranged rules.
The DeFi sector has been on the rise lately and TradeCrypto is regularly reporting about the related developments, so check out our DeFi news today. And to find out more, we’ll point you in the direction of our DeFi Academy and its helpful guides.
Uniswap partners with Moonpay to bring debit cards
The largest decentralized exchange, Uniswap, is to bring debit and credit card payments to DeFi via the crypto payments provider, Moonpay. Uniswap is making a giant step towards DeFi adoption with an announcement of this partnership: Users can purchase crypto on the Uniswap Web App using a credit card, debit card, or bank transfer. They can convert […]
SushiSwap runs out of funds
DeFi platform SushiSwap proposed redirecting all revenues paid to xSushi holders to its Treasury. SushiSwap Head Chef warned of a significant deficit threatening the decentralized exchange. Newly appointed as Head Chef, Jared Grey told the SushiSwap community: Over the past two months as Head Chef, I’ve spent most of my time analyzing the operational and […]
Ankr buys $5M BNB to compensate for exploit
Decentralized finance BNB chain protocol Ankr, suffering from a massive exploit earlier this Friday, decided to compensate the liquidity providers by acquiring $5M worth of BNB. The attack was discovered by PeckShield, an on-chain security analyst, citing it happened due to a bug in Ankr protocol that allowed the hacker to endlessly mint aBNBc tokens. […]
Uniswap launches NFT aggregator
Uniswap Labs announced the launch of an NFT aggregator, which allows trading NFTs from partnering marketplaces within the decentralized exchange. Now live on Uniswap, users can find listed NFTs from OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, Foundation, NFT20, and NFTX. The new feature primarily focuses on those who aim to trade across marketplaces, simultaneously providing […]
Aave freezes low-liquidity pools
Last week, the Ethereum-based decentralized lending protocol Aave was left with $1.6M of bad debt due to a massive CRV sale. Aave, the leading DeFi protocol with over $5B of total value locked, has accepted a proposal by Llama and Chaos Labs, which asked to pause volatile assets due to low liquidity, following the Nov. […]
MetaMask to collect user data
ConsenSys, the Ethereum protocol behind MetaMask wallet and an application for developers Infura, decided to update its privacy policy. ConsenSys now collects IPs, usernames, KYC details, and bank account information. Running the ConsenSys application, MetaMask, users agree to share their full name, date of birth, and gender. Consensys also demands home address details and telephone […]
DEX vs. CEX: Uniswap overtakes Coinbase in Ethereum trading
Following the theme of our digest today isn’t necessary, just like answering Caroline Elison’s question of what the point of trading on DEX and not FTX. Nevertheless, despite the abundance of news and investigations around the FTX failure, it is important to highlight today’s event – Uniswap has risen in ethereum volume trading, leaving Coinbase […]
More Than $200,000 Stolen from QuickSwap in Flashloan Attack
Decentralized exchange QuickSwap has become the latest victim of a flash loan attack. The Uniswap DEX fork, which runs on Polygon and issues the MATIC crypto, was hit for $220,000. Flash loan attacks happen when an exploiter takes out many loans from a DeFi protocol and then sells the borrowed crypto. Unfortunately, decentralized exchanges are […]
Uniswap Raises $165 Million in Series B Funding
Decentralized exchange Uniswap has received $165 million in Series B funding. Polychain Capital led the round, which also included a16z crypto and Paradigm. Uniswap was estimated in this round to be worth $1.6 billion. The popular DEX, which enables users ERC-20 token swapping, saw $1.2 trillion in trading volume since it opened its doors. The […]
Mango Markets Drained of $100 Million in Hacker’s Attack
Following last week’s Binance Smart Chain hack, another DeFi platform was now hit. This time, the Solana-based trading platform for perpetual futures and spot margin trading, Mango Markets, was the target of the exploit, with the attacker taking off with $100 million. According to the blockchain security firm OtherSec, the hack was carried out by […]
