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Defi for Dummies

The best strategies to participate in and operate in decentralized finance.

The best strategies to participate in and operate in decentralized finance. Decentralized finance (DeFi) is a concept that has received a lot of attention since the so-called DeFi Summer of 2020 because its usage, often measured in total value locked (TVL), has risen dramatically since that time. In the last year alone, TVL rose by over …

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North Korean Crypto Hackers On The Rise

According to DeFiance Capital founder Arthur Cheong, North Korea is targeting crypto firms and projects.   North Korea steals 624 million USD in a single day Last month, Axie Infinity’s Ronin Network fell victim to a consensus attack, which allowed the hackers to steal a record-breaking sum of 624 million USD. According to the US government, the …

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Neutrino USD Loses Peg Amidst WAVES Crash

The stablecoin Neutrino USD has fallen below 0.80 USD after a pseudonymous on-chain investigator accused the Waves team of market manipulation.   USDN de-pegged despite healthy backing Neutrino is the largest DeFi protocol on the Waves blockchain. Over the past six weeks, Neutrino USD has been the fastest-growing stablecoin. Data from CoinGecko shows that USDN’s market cap …

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Largest-Ever DeFi Hack: $624M Stolen From Ronin Network

A record-breaking sum of 624 million USD was stolen through a consensus attack on Axie Infinity’s Ronin Network. Rekt leaderboard gets new top spot According to Rekt.news, the hack remained unnoticed for six days and was only discovered yesterday, after a user was unable to withdraw ~5,000 ETH from Ronin’s cross-chain bridge. This means that the Rekt …

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Tokens pose lesser risk than gold and oil for UK investors — Survey

Out of the 2,000 responders, 24% revealed interest in investments in tokens or NFTs in 2022, which highlights a “critical tipping point” for token adoption. A survey on investors across the United Kingdom has revealed a growing interest in the new asset classes that threaten to overshadow traditional finance, which is driven by factors such …

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The Sushi Samurai Will Return

Sushi’s popular community support team known as the Samurai will be brought back following a governance proposal.   Can the Samurai restore balance? The Samurai were an important part of Sushi DAO’s operating team and first responders for community needs. The team, which consisted of seven DAO members, disbanded in January after the SMSP-0 governance proposal passed, …

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Andre Cronje Quits DeFi — 25 Services To Be Shut Down

The “Godfather of DeFi” Andre Cronje has announced that he will be quitting the crypto industry for good, leaving 25 apps to an insecure fate.   Too much drama Via Twitter, Andre Cronje’s colleague at the Fantom Foundation Anton Nell announced yesterday that he will be leaving the DeFi space alongside Cronje, who deactivated his …

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Nansen Report Highlights Growth of Defi and NFTs in 2021

Nansen, a cryptocurrency and blockchain statistics and analytics platform, has issued a report on the growth of decentralized finance (defi) in 2021. The document highlights how defi managed to keep growing, opening the field to new participant chains. Non-fungible tokens (NFTs) also had a notable year, with many new wallets experiencing growth as a result. …

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DeFi and Its Importance in the Cryptocurrency Economy

Decentralized finance, or DeFi, is one of the most important topics in cryptocurrency. The aim of DeFi is to create an entirely new financial system, completely independent of the traditional financial (TradFi) economy. There are billions of dollars being invested into this goal, along with the efforts of thousands of developers around the world. This …

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Top 5 Leading Decentralized Insurance for DeFi Users

Traditional assets have been commonly protected through the use of insurance, which would soften the blow should something happen to that individual’s investment. There are now multiple options for insurance, specific to the DeFi ecosystem and projects contained in that ecosystem. Currently, only 2% of DeFi holdings are insured, which is a dangerously low amount …

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