1 year ago
Welcome to Finance Redefined, your play dose of indispensable decentralized concern (DeFi) insights — a newsletter crafted to bring you important developments implicit the past week.
The FTX contagion that started successful the 2nd week of November is inactive haunting assorted crypto protocols successful the DeFi ecosystem. The latest to autumn prey to the contagion includes the Solana-based decentralized speech (DEX) Serum, of which Alameda and FTX were backers. Another DeFi crypto trading steadfast Auros Global missed its main repayment connected a 2,400 Wrapped Ether (wETH) DeFi loan.
Looking astatine immoderate different cardinal quality successful the DeFi ecosystem, fashionable DEX protocol Uniswap launched its nonfungible token (NFT) marketplace aggregator, allowing users connected the level to commercialized NFTs.
Ankr became the latest unfortunate of an exploit, with reported losses of astir $5 million. The decentralized-finance protocol said it is moving with exchanges to instantly halt trading of its BNB staking rewards token, aBNBc.
The request for liquid Ethereum staking has deed caller records, seeing the biggest surge station Merge.
The apical 100 DeFi tokens saw immoderate alleviation rally aft astir 3 weeks of bearish dominance. The bulk of the DeFi tokens traded successful green, with galore hitting double-digit gains.
Serum speech rendered ‘defunct’ pursuing the illness of Alameda and FTX
Solana-based DEX Project Serum has notified its assemblage that the illness of its backers — Alameda and FTX — has rendered it “defunct.” The squad down the task shared that “there is hope” successful spite of its ongoing challenges due to the fact that of the enactment disposable to "fork" Serum.
According to the announcement, “A community-wide effort to fork Serum is going strong.” OpenBook, the community-led fork of the Serum v3 program, is already unrecorded connected Solana with implicit $1 cardinal regular volume, supported by continuous efforts to grow it and turn its liquidity.
Crypto trading steadfast Auros Global misses DeFi outgo owed to FTX contagion
Crypto trading steadfast Auros Global appears to beryllium suffering from FTX contagion aft missing a main repayment connected a 2,400 wETH DeFi loan.
Institutional recognition underwriter M11 Credit, which manages liquidity pools connected Maple Finance, told its followers successful a Nov. 30 Twitter thread that the Auros had missed a main outgo connected the 2,400 wETH loan, which is worthy successful full astir $3 million.
Ankr confirms exploit, asks for contiguous trading halt
BNB Chain-based DeFi protocol Ankr has confirmed it has been deed by a multi-million dollar exploit connected Dec. 1. The onslaught appeared to beryllium archetypal discovered by on-chain information expert PeckShield astatine astir 12:35 americium UTC connected Dec. 2.
Within an hr of the attack, Ankr confirmed connected Twitter that the aBNB token has been exploited and that they’re moving with exchanges to instantly halt trading of the compromised token.
Uniswap launches NFT marketplace aggregator
According to a caller station connected November 30, DEX Uniswap announced that users tin present commercialized NFTs connected its autochthonal protocol. As told by Uniswap, the relation volition initially diagnostic NFT collections for merchantability connected platforms including OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, X2Y2, Foundation, NFT20 and NFTX.
Uniswap developers assertion that users tin prevention up to 15% connected state costs compared to different NFT aggregators erstwhile utilizing Uniswap NFT, which unifies ERC-20 and NFT swapping into a azygous swap router. Integrated with Permit2, users tin swap aggregate tokens and NFTs successful 1 swap portion redeeming connected state fees.
Demand for liquid Ethereum staking options continues to turn post-Merge
Blockchain information analytics carried retired by Nansen highlights the ever-growing magnitude of Ether (ETH) being staked crossed assorted staking solutions successful the months pursuing Ethereum’s displacement to proof-of-stake (PoS) consensus.
The highly anticipated Merge has been a boon for DeFi successful general, and staking solutions person been successful precocious request since Ethereum’s displacement to PoS. This is according to blockchain information from a assortment of staking solutions crossed the Ethereum ecosystem.
DeFi marketplace overview
Analytical information reveals that DeFi’s full worth locked roseate supra $40 billion. Data from Cointelegraph Markets Pro and TradingView amusement that DeFi’s apical 100 tokens by marketplace capitalization had its archetypal bullish week aft FTX contagion.
Fantom (FTM) was the biggest gainer among the apical 100 DeFi tokens, registering a surge of 36.8% implicit the past week, followed by Chainlink (LINK) with a 12.47% surge. Uniswap (UNI) besides saw play gains of 11%.
Thanks for speechmaking our summary of this week’s astir impactful DeFi developments. Join america adjacent Friday for much stories, insights and acquisition successful this dynamically advancing space.
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