Polygon, Solana, DeFi on Grayscale’s Radar

Key Takeaways Grayscale is exploring 13 cryptocurrencies to potentially offer to clients. The list includes Solana, Polygon, and a range of DeFi tokens. The firm clarified that not all assets under its consideration will be offered as an investment products. Share this article Grayscale is exploring 13 new cryptocurrencies as tentative investment offerings, including Polygon and Solana’s native tokens. Grayscale Considering 13 New Assets Grayscale is weighing up adding a new list of assets to its range of products. The investment giant published a blog post listing 13 new “assets…

Yearn Finance, Alchemix, Curve Finance in DeFi Clash

Key Takeaways Three of DeFi’s leading projects are in dispute after Curve Finance proposed removing CRV rewards from Alchemix’s pool in the protocol. The proposal argues that Alchemix already generates yield from Curve Finance via Yearn Finance’s vaults. Alchemix recently launched its latest alETH product with Saddle, a Curve Finance fork. Share this article Some of DeFi’s best-known protocols are debating the impact of their yield farming strategies. The discussions center on Alchemix, Yearn Finance, and Curve Finance. DeFi Projects in Conflict A group of DeFi’s leading protocols has come…

DeFi Staple Kyber to Launch on Polygon

Key Takeaways Kyber will launch its dynamic market maker (DMM) to Polygon Network later this month. The team has also announced liquidity mining programs on both Polygon and Ethereum to reward liquidity providers. Kyber joins many other Ethereum-native DeFi projects that have expanded to Polygon in 2021. Share this article Kyber is launching its dynamic market maker on Polygon. It’s also planning a $5.5 million liquidity mining program. Kyber Plots Liquidity Mining Program Kyber will launch its new dynamic market maker (DMM) liquidity protocol on Polygon, the team announced Wednesday.…

DeFi exchange dYdX raises $65M in Series C fundraiser

Venture firms from across the blockchain industry have thrown their weight behind decentralized exchange developer dYdX, offering further evidence that investors are eyeing a further expansion of the DeFi ecosystem.  The Series C round generated $65 million in direct funding for dYdX, with venture fund Paradigm leading the raise. HaskKey, Electric Capital, Delphi Digital and others also participated in the raise. The exchange also received direct support from eight liquidity providers, including Kronos Research, MGNR, Menai Financial Group, QCP Capital, CMS Holdings, CMT Digital, Sixtant and Finlink Capital. Past investors…

Taproot Explained: Bringing DeFi to Bitcoin

Key Takeaways Taproot is the Bitcoin network’s first update in four years. It comes after the Segwit update divided the community and led to the separation of Bitcoin and Bitcoin Cash. Taproot combines the public keys of all users in a complex transaction in a new unique key. This increases privacy and reduces necessary block space. Taproot opens the door to smart contracts on the Bitcoin network and will be implemented in November 2021. Share this article Taproot, the first update to the Bitcoin protocol in four years, will provide…

B.Protocol announces v2 platform for DeFi liquidations

Decentralized finance service B.Protocol has announced plans for a new version that will improve the liquidation of undercollateralized loan positions on lending platforms. In a release issued on Tuesday, the backstop liquidity protocol for DeFi lending platforms revealed that the upcoming v2 is based on a white paper for a novel Backstop automated market maker (B.AMM) written by a couple of anonymous community members. According to a blog post published by B.Protocol founder Yaron Velner the v1 design that utilized professional liquidators to share profits with users instead of miners…

Is DeFi technology easy enough to adapt to non-finance industries?

Decentralized finance is far and away the hottest topic in crypto, touted as a way to make a fortune by backing the right token, but also a tool for taking the crypto you were hodling in a cold wallet and set it to work earning interest at extraordinary rates. There’s a reason DeFi has grown so large so quickly that it has slowed the Ethereum blockchain where most of the projects live to a crawl, and sent gas prices for transactions soaring to $10, $50, even $100 at times. DeFi…

DeFi will bring global revolution to the traditional finance space

Decentralized finance came to life with the inception of Ethereum in 2013. However, it truly hit the ground running in 2016–2017 with the backing of Ethereum developers and some entrepreneurs and experts in the financial investment sphere. To get our facts right and clear all misconceptions, DeFi encapsulates a variety of financial applications in cryptocurrency or blockchain that are geared toward removing intermediaries between parties in financial transactions.  Related: The great unbanking: How DeFi is completing the job Bitcoin started A large majority of DeFi applications are built on top…

The shadow DeFi conference in Miami! June 2-9

Last week, I made the mistake of being just about the only DeFi denizen who actually went to the Bitcoin 2021 event in Miami.  While I managed to catch up with a handful of builders and big brains in the convention center, my time would have been better spent tracking down degens at the various satellite events, yacht parties, and nightclub meetups — the “shadow conference” for DeFi taking place while boomercoin maximalists talked over the same points they’ve been parroting for the better part of a decade. What little…