Defi Financial News

Ethereum’s upcoming Shanghai upgrade will allow users to withdraw staked Ether (ETH), increasing the network’s liquidity and competitiveness while also boosting its staking ratio closer to its competitors.

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.

Some AAVE users who accidentally sent tokens to the wrong address may soon be able to recover them, according to the text of a proposal passed by the AAVE decentralized autonomous organization (DAO) on March 10. The proposal, called “Rescue Mission Phase 1 Long Executor,” authorized AAVE developers to upgrade smart contracts that have been mistakenly sent tokens in the past, causing the contracts to automatically send the lost tokens back to their original owners.

The Ethereum ecosystem will continue its ongoing metamorphosis as the highly anticipated Shanghai upgrade draws near. The latest preeminent smart contract blockchain protocol improvement will activate Ether (ETH) withdrawals from Ethereum’s Beacon Chain.

Price slippage is a constant risk in trading on centralized exchanges (CEXs) and decentralized exchanges (DEXs) alike. It occurs when a trader’s order is executed at a different price than the one intended. It can happen due to high volatility, low liquidity or delays in order execution, resulting in a noticeable difference between the expected and actual transaction price.

Hedera, the team behind distributed ledger Hedera Hashgraph, has confirmed a smart contract exploit on the Hedera Mainnet that has led to the theft of several liquidity pool tokens.

Certain multisignature (multisig) wallets can be exploited by Web3 apps that use the Starknet protocol, according to a March 9 press release provided to Cointelegraph by Multi-Party Computation (MPC) wallet developer Safeheron. The vulnerability affects MPC wallets that interact with Starknet apps such as dYdX. According to the press release, Safeheron is working with app developers to patch the vulnerability.

bitcoin is starting to look a little old-fashioned. Hooked on high growth, some are turning away from the original cryptocurrency — designed as an alternative to regular cash — in favor of its descendants created as native tokens of blockchain platforms that host smart contracts and apps.MarketVector's Smart Contract Leaders Index, which tracks major tokens of this kind — including ether, dot and solana — is up 36% in 2023, outpacing even bitcoin's 33% rise. Solana's token is up 76% this year. Bundeep Rangar, CEO of crypto-focused asset manager Fineqia, said he expected the biggest crypto returns to come from smart contract tokens on platforms that support decentralized finance (DeFi) apps.

Web3, the next generation of the internet, is an exciting new space creating opportunities for entrepreneurs across various industries. While the field is still somewhat male-dominated, several influential women entrepreneurs are significantly impacting the Web3 space.

The hacker behind the exploit of the decentralized finance (DeFi) lending platform Tender.fi has returned the stolen funds for a $97,000 bounty reward in Ether (ETH). 

An alleged ethical hacker has drained $1.59 million from the decentralized finance (DeFi) lending platform Tender.fi, leading the service to halt borrowing while it attempts to recoup its assets.

For several months now, the decentralized finance (DeFi) sector has been on the receiving end of a major bear market, so much so that the total value locked within this space has slipped from its all-time high of $150 billion (achieved back in May 2022) to its current levels of just over $50 billion. 

Algorand-based wallet provider MyAlgo has again urged users to withdraw their funds after a February security breach which doesn’t appear to have been resolved.

One of the wallets associated with the $50 million exploit of Uranium Finance in April 2021 appears to have awoken after 647 days of dormancy, with funds headed towards crypto mixer Tornado Cash.

The Frax community recently approved a proposal to make its FEI stablecoin fully backed by USD equivalents, rather than maintaining a partially backed and semi algorithmic stablecoin. With Frax’s decision, the days of experimentation with algorithmic stablecoins could finally be behind us.

Local authorities in Singapore announced they had begun a probe that is connected to Do Kwon’s Terraform Labs.

Reentrancy, price oracle attacks and exploits across seven protocols caused the decentralized finance (DeFi) space to bleed at least $21 million in crypto in February. 

Blockchain, Crypto, or Decentralized Finance (DeFi) before 2008, but today we live in a world where these path breaking technologies are playing a crucial role in shaping the future. Also known as Distributed Ledger Technology (DLT), blockchain is a record of transactions that cannot be altered, deleted, or destroyed. In other words, the digital information on a blockchain can be recorded and distributed but never edited. We all know that blockchain was launched as a distributed ledger for Bitcoin transactions, but it turned out to be more than just that. Since 2014, blockchain has given birth to many new inventions beyond Bitcoin. Since then, Blockchain use cases have exploded with the launch of new cryptos, non-fungible tokens (NFTs), smart contracts, and DeFi applications. The innovation factor with blockchain is its guarantee of fidelity and security of data records; it builds faith without the backing of a third party. These features make it perfect for finance. Let’s explore more about how blockchain is re-inventing finance. Blockchain vs banking

Co-founder of content studio Bankless David Hoffman apologized for spreading rumors about what he called a "Wells Notice Carpet Bombing" targeting crypto firms, including the decentralized finance protocol Lido Finance. 

The world of decentralized finance (DeFi) opened a vast array of new opportunities with its explosion in 2020, but it also brought new challenges and profound risks to crypto users. Due to its decentralized nature and short history, the industry is difficult to regulate and can hardly provide a secure environment for its players.

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.