Defi Financial News

The International Organization of Securities Commissions (IOSCO), which sets standards for securities market regulation globally, has issued policy recommendations for the supervision of decentralized finance (DeFi).

Ethereum is one of the most widely used blockchain networks globally. Recent findings from CoinMarketCap show that Ethereum has the highest number of total developers, accounting for 16% of all developers in the crypto sector.

Bitcoin Ordinals-based development platform Tap Protocol has raised over $4 million in an oversubscribed round, promising more “big” news to come.

Solana-based decentralized finance (DeFi) platform Jito has launched its much-anticipated airdrop, distributing approximately $225 million worth of tokens to Solana users globally.

The digital asset market recorded an 11% uptick last month with Solana (SOL) and Chainlink becoming the top-performing assets as decentralized finance (DeFi) volumes surge, a new report shows.

crypto assets, Bitcoin (BTC) and Ethereum (ETH). They are both time-tested networks and flag bearers of innovation in the space. These two assets also have the most regulatory acceptance globally. But for those willing to take bigger risks, the search for the next champion is already on. The recent price rally of Solana (SOL), Maker (MKR), and Chainlink (LINK), was a stark reminder. Even as BTC prices rose in line with speculations over a spot ETF, altcoins with lower market caps saw an exponential jump in prices, as risk capital poured in seeking alpha, or “market-beating” returns. But there is a pattern in these riskier bets as well. The key themes these investors are looking for are faster and more scalable Layer-1 chains, real-world tokenization, and convergence of traditional and decentralized finance. These trends are not isolated phenomena; they are interconnected and mutually reinforcing, driving innovation. Quest for fastest Layer-1 chains The quest for scalability has become a central focus in blockchain development. Layer-1 chains, the underlying infrastructure of blockchain networks, often face limitations in handling high transaction volumes without compromising speed, decentralization, or security. This is particularly challenging for applications that require real-time transactions or a large number of concurrent users.

American banking giant JPMorgan has shed light of optimism in the decentralized finance (DeFi) and non-fungible tokens (NFT) sectors.

The anonymous attacker behind the recent $47 million exploit of the decentralized crypto exchange KyberSwap has outlined bold demands in proposed negotiation terms made public on November 30. The self-proclaimed “Kyber Director” is seeking complete control of KyberSwap’s operations and assets to remedy the losses from the November 23 breach.

Forex liquidity and currency swaps are hard to access for many in Africa, which limits the use of United States dollar-based services in the continent’s import-dependent economies. This creates a vacuum that decentralized finance (DeFi) could solve, leveraging cryptocurrencies, blockchain networks and services, according to the CEO of Canza Finance, Pascal Ntsama IV.

As Web3 gets bigger, it struggles to keep up with the malicious actors targeting users’ funds across different blockchains and networks. This security protocol takes a preventive approach against hacks and exploits, freezing assets before they get stolen.

Cross-chain protocol Wormhole has secured a $225 million investment at a valuation of $2.5 billion.

The decentralized finance (DeFi) platforms Aerodrome and Velodrome reported compromises to their front ends on Nov. 28. 

In their quest for scalability and cost-effectiveness, many layer-2 networks adopt a centralized approach to on-chain transaction processing, introducing a single point of failure vulnerability. The Metis blockchain, however, has pioneered a distributed sequencer pool to improve security and decentralization.

The exploiter behind the $46 million crypto theft against KyberSwap has demanded its execs and tokenholders ease up on the hostilities, threatening to push out negotiations until everyone is “more civil.”

Decentralized crypto trading with leverage has grown in popularity over recent years — but something is holding the sector back: a lack of reliable platforms for noncustodial transactions.

Cryptocurrency exchange and Web3 developer OKX announced the expansion of its services for users in the Brazilian market with a local crypto exchange and Web3 wallet platform. 

Inferno Drainer, one of the most popular crypto wallet-draining kits for hire says it is shutting down for good after helping phishing scammers steal nearly $70 million worth of crypto this year.

The governing body of Cosmos Hub has endorsed a proposal to decrease the maximum inflation rate of its native token, Cosmos (ATOM), from 14% to 10%.

Indexed Finance, an Ethereum-based project that suffered a $16 million hack in 2021, has successfully thwarted two hijacking attempts. Control of the project’s decentralized autonomous organization (DAO) will be returned to its founders, who aim to allocate the remaining treasury to victims of the 2021 hack.

Web3 protocol Blast network has gained over $400 million in total value locked (TVL) in the four days since it was launched, according to data from blockchain analytics platform DeBank. But in a Nov. 23 social media thread, Polygon Labs developer relations engineer Jarrod Watts claimed that the new network poses significant security risks due to centralization.

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