DeFi

Insight on Liquidity from DeFi Protocols

Source Node: https://cointelegraph.com/news/insight-on-liquidity-from-defi-protocols
Time Stamp: April 2, 2020 6:16 AM - Modified On: August 29, 2021 - Published By:
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Republished By Plato

Over the last year and a half, decentralized finance has had an explosion of activity. Lending and borrowing decentralized applications, margin trading, liquidity protocols, stablecoins, insurance and derivatives have all grown in user numbers, in on-chain activity and in product maturity. As DeFi has grown, the need to exchange value from one form to another has grown with it, and multiple liquidity providers have stepped up to service this growing need for liquidity. This is the natural evolution of any system, introducing expanding functionality and connectivity and as it grows. Based

Coinbase Bootstraps USDC; Invests $1.1M in DeFi Products Uniswap and PoolTogether

Source Node: https://coinfomania.com/coinbase-invests-1-1m-usdc-uniswap-pooltogether/?utm_source=rss&utm_medium=rss&utm_campaign=coinbase-invests-1-1m-usdc-uniswap-pooltogether
Time Stamp: April 1, 2020 2:27 PM - Modified On: August 29, 2021 - Published By:
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Republished By Plato

 Leading US-based cryptocurrency exchange and wallet provider, Coinbase has announced that it has made a direct investment up to the tune of $1.1 million in two different Decentralized Finance (DeFi) products – Uniswap and PoolTogether.  According to the official announcement today, the funding was made via the exchange’s stablecoin, USD Coin (USDC) and it is part of Coinbase efforts to increase the projects’ chances of competing against other existing financial products.  Uniswap The Uniswap platform is an automated market maker built on the Ethereum blockchain that is currently simplifying exchanges’

A Crypto Venture Fund Bought the Most Tokens at MakerDAO’s Debt Auction

Source Node: https://cointelegraph.com/news/a-crypto-venture-fund-bought-the-most-tokens-at-makerdaos-debt-auction
Time Stamp: April 1, 2020 2:21 PM - Modified On: August 29, 2021 - Published By:
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Republished By Plato

An auction to recapitalize MakerDAO (MKR) after the mid-March market turmoil successfully concluded on March 28, bringing in over $5 million worth of DAI. Crypto venture fund Paradigm Capital revealed in a March 31 tweet that it won approximately 68% of the auctioned tokens.The company had previously pledged to join a “backstop syndicate” and cover the entire system shortfall if necessary. Acting as a so-called “backstop,” the group would act as the buyer of last resort by purchasing the MKR tokens if their price fell to $100. (The auction’s starting

Vitalik Buterin: Ethereum is DeFi Chain as Much as Bitcoin is Digital Gold

Source Node: https://coinfomania.com/vitalik-ethereum-is-defi-chain/?utm_source=rss&utm_medium=rss&utm_campaign=vitalik-ethereum-is-defi-chain
Time Stamp: April 1, 2020 1:21 PM - Modified On: August 29, 2021 - Published By:
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Republished By Plato

Ethereum co-founder, Vitalik Buterin has recently asserted that aside from the numerous potential applications of Ethereum in various areas, its use as a cryptocurrency, for settlements, cannot be overlooked. This is coming after Ryan Sean Adams, the founder of Mythos Capital, shared how Bitcoin Maximalists are trolling him about how pointless Ethereum is. Got Maximalists trolling me about how pointless Ethereum is meanwhile I just sent a crypto backed stablecoin in a private transaction on the Ethereum mainnet peer-to-peer w/o a bank Keep trolling We’ll keep building the bankless future

Tether CTO Praises Company’s Own Coin, Takes A Shot At Others

Source Node: https://insidebitcoins.com/news/tether-cto-praises-companys-own-coin-takes-a-shot-at-others/255950
Time Stamp: April 1, 2020 7:23 AM - Modified On: August 29, 2021 - Published By:
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Republished By Plato

Earlier this month, at the CryptoCompare Digital Asset Summit that was held in London, the CTO of Tether, Paolo Ardoino, gave a public statement about the future of DeFi. According to Arduino, the DeFi industry as a whole is facing a risk to its entire system, due to the fact that it only leverages the value from the cryptocurrency industry.Low-Brow TacticsIn a move that sounds suspiciously like an attempt to slander one of Tether’s rival stablecoins, the Dai, he talked about the volatility of the crypto industry as a whole.

Huobi Wallet and Crypto Lender Cred Now Enable Users to Earn Interest

Source Node: https://cointelegraph.com/news/huobi-wallet-and-crypto-lender-cred-now-enable-users-to-earn-interest
Time Stamp: April 1, 2020 6:07 AM - Modified On: August 29, 2021 - Published By:
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Republished By Plato

Major cryptocurrency exchange and wallet provider Huobi has partnered with decentralized crypto lending platform Cred to enable users to earn interest on their holdings.An announcement on April 1 revealed that Cred’s lending and borrowing services will be fully integrated into the Huobi Wallet, which supports over 1,000 crypto assets, including 8 stablecoins, for users across 200 countries and regions.The two firms did not provide a comprehensive list of supported crypto assets, but noted that Bitcoin (BTC), Ether (ETH) and stablecoins such as Universal Dollar (UPUSD) would be part of the