DeFi Auction House Bounce Integrates yEarn

Key Takeaways Bounce Finance has integrated YFI as an auction pair and opened a yGift store. Users of the decentralized auction house will be able to buy and sell yGift NFTs with YFI. It’s the latest in a series of extensions from Andre Cronje and the yEarn team. Share this article Popular DeFi protocol, Bounce Finance, which acts as an auction house, lottery, and prediction market, has integrated yEarn and opened up a yGift store.  yEarn Launches NFT Marketplace on Bounce yGift labels itself as an NFT platform “for gifts,…

DeFi and Eth 2.0 are whole new convos for regulators, says SEC’s Hester Peirce

Hester Peirce, commissioner for the United States Securities and Exchange Commission, explained during an exclusive interview with Cointelegraph that decentralized finance, also known as DeFi, has created new challenges for the SEC.  Peirce, nicknamed “Crypto Mom” for her interest in digital asset innovation, mentioned that the quickly rising DeFi sector has resulted in a number of unresolved legal issues: “DeFi has posed a challenge for the SEC in a similar way that the ICO boom did in 2017. What is different here is that the pace of DeFi has actually…

DeFi Lending Protocol AAVE Launches Massive Upgrade

Key Takeaways AAVE begin its journey in 2017 under a different name, ETHLend. Since launching its mainnet, the DeFi protocol has become a mainstay in the crypto community. The protocol has now rolled out its herculean upgrade which includes three new key features. Share this article AAVE, the popular DeFi lending protocol, has released version two of its protocol. The upgrade brings many changes, from improving features like flash loans and credit delegation to adding new features such as collateral swap and batching flash loans. AAVE Is Now Cheaper, Easier to…

Polkadot launches DeFi alliance with Chainlink and will let 1000 nodes bloom

Polkadot has become the latest Ethereum competitor to launch a decentralized finance alliance. Announced on Dec. 3, the alliance aims to overcome the decentralized nature of the Polkadot ecosystem, providing a platform for its community to discuss using the Polkadot Network and its underlying Substrate technology stack for DeFi. Oracle network Chainlink is among the alliance’s founding members. The company’s global head of business development, Dan Kochis, said: “Chainlink is excited to help steer the direction of Polkadot’s growing ecosystem of decentralized financial applications. By promoting developer best practices for…

Yearn.finance mergers and sideways Bitcoin price propel DeFi tokens higher

Yearn.finance has been busy announcing a slew of mergers in the past week and these have the DeFi space buzzing once again. Just after the Yearn and Pickle finance merger, Yearn has announced a partnership with Cream to launch Cream v2. Some of the key takeaways are that teams from both protocols will merge their development resources and Yearn vault shares can be kept as a collateral to borrow on Cream. Yield farmers might also benefit as Yearn vault strategies will have access to leverage through Cream. The collaboration has…

DeFi project Aave unlocks collateral with version 2 release

The decentralized finance niche of crypto has boomed in 2020, paying users interest on locked funds (collateral) in exchange for loans. DeFi protocol Aave recently unveiled its second version, V2, adding further potential to the sector.  “In DeFi, assets that were being used as collateral were tied up, but now with V2 they are free to be traded,” Aave founder Stani Kulechov says a blog post on Thursday. “Users can trade their deposited assets, across all currencies supported in the Aave Protocol, even when they are being used as collateral.” …

What’s a DeFi merger, anyway? Nov. 25–Dec. 2

The biggest events in DeFi this week all involved Yearn.finance, the yield farming optimization protocol. I covered the first, Pickle Finance, in my last installment. Since then, we’ve seen integrations with Cream Finance, a lending protocol similar to Compound; Cover Protocol, an insurance provider that recently paid out users for the Pickle hack; Akropolis, another protocol primarily dealing with yield optimization; and as the most significant of all, SushiSwap, the decentralized exchange born as a Uniswap parasite. The Yearn ecosystem now includes all the major building blocks of DeFi (yield,…

Roll-ups to preserve Ethereum’s DeFi monopoly despite competitors: Messari

Crypto data aggregator Messari believes that roll-ups will beat out Layer 1 solutions in the race to scale Ethereum. Although Eth2’s beacon chain genesis successfully took place on Dec. 1, analysts predict the upgrades spanning the Ethereum 2.0 overhaul will not be completed until 2022. As such, Messari recently asserted the wait for Eth2’s completion “leaves an opportunity for other low-fee, low-latency competitors to eat into Ethereum’s monopoly.” “Those snake-bitten by rising fees will inevitably explore alternative platforms with better transaction throughput and lower fees if they haven’t already.” Despite…

Decred (DCR) Surges 50%, Outperforming DeFi Coins and 2017-Era Alts

Decred (DCR) has surged seriously higher over the past day. According to Coin Gecko, a top data source in crypto, the price of the coin is up 50% in the past 24 hours. The coin is currently trading at its highest price since the 2018 crash in November of that year. DCR is up over 250% from its multi-month low near $11 a number of weeks ago in October. Decred is the best performing top 100 digital asset of the past 24 hours. It is strongly outpacing Bitcoin, which is…

DeFi protocol 1inch closes $12M funding round led by Pantera Capital

The team behind the 1inch protocol, which combines an automated market maker protocol and an aggregator for other DEXs, announced on Wednesday a successful Series A round for $12 million. Pantera Capital, a major venture fund active in the cryptocurrency space, led the round. A total of ten other funds joined in the round, including: ParaFi Capital, Nima Capital, LAUNCHub Ventures, Spark Capital, gumi Cryptos, Fabri Ventures, Struck Capital, Rockaway Blockchain Fund, Spartan Capital Securities and Blockchain Capital. Three business angels also participated in funding, including Josh Hannah, partner at…