DeFI News by Thebittimes.Com

The grant will be used to introduce no-code development tools and on-chain reputation identity infrastructure on GateChain. It is to ensure a streamlined and secure experience for users of the GateChain ecosystem. Likewise also helps project owners reduce costs and increase efficiencies by promoting a faster go-to-market approach. The grant will also fund marketing that will encourage users to use xHashtag dApp on GateChain. The no-code web3 development tools slated to be deployed include Liquid Staking Vault Creator. It requires no coding skills from the user’s end and can be used to create a liquid staking vault for any new or existing ERC-20 token. It also allows project owners to create and manage their token’s microeconomy using advanced token lockup strategies. Furthermore, xHashtag’s on-chain reputation identity infrastructure introduces trust in a trustless environment by enabling Sybil resistance in DAO voting. It allows projects to select, vet, and allocate incentivizati...

Celer-bridged token addresses on Kava EVM Co-Chain: USDC – 0x23367BEA9B6931690960d8c59f6e708630f24E58 USDT – 0xfB1af1baFE108906C0f1f3B36D15919B95ee95BD WETH – 0x9591865D9d4BBD3b5FA8a8E2400fD530D1a16191 DAI – 0x49f2c0add1A345F4c76831c1AA3884fc523Ca5FE WBTC – 0xaEa7D9Bc694a92ad0EFFfF0F30B700F7c4B23ba6 The Kava Network is a lightning-fast Layer-1 blockchain featuring a unique co -chain architecture that combines the speed and interoperability of the Cosmos SDK with the flexibility and developer support of the Ethereum Virtual Machine (EVM), all powered by the ultra-fast Tendermint consensus engine. Kava chose to build using the Cosmos SDK because it was clear that the Ethereum architecture was not going to support a decentralized future at scale. The Cosmos SDK enabled much better scalability and unlocked access to a growing ecosystem of blockchains and applications. Kava continues to evolve into a more open, scalable, and optimized Layer-1 blockchain for Web3 developers to bui...

Apexaverse built on Cardano Blockchain is one of the most efficient ways of bringing together game catalog with multiple p2e and pvp games, launchpad, token with staking capabilities, NFTs and 3d metaverse. Apexaverse |Start your metaverse journey on cardano blockchain The intersection of the Metaverse, web 3.0 and NFTs on Cardano Blockchain. In Palmare, each user profile is a token itself. Users create a profile on the app, for which they will mint an ID’d profile NFT. This NFT controls the profile, and thus, its owner becomes the controller of the given profile. Their app will provide social graph and earning Features for Crypto fans and Non-crypto Users. They focus on three types of Earning: Train to Earn each sport you participate in can help you earn by burning calories (for riding a bike or any of your favorite sports) Engage to Earn users contribute content to the sports community and earn back from social engagement (include like, share, follow…) Check in to Earn ...

It is providing users with stronger assurances that collateralization ratios, liquidations, and fees are calculated using accurate price data. However, Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans. Therefore, Angle Protocol aims to create a sustainable money layer for blockchains. We are currently issuing agEUR, a Euro-based stablecoin. Their borrowing module helps expand the protocol as it creates another minting mechanism for Angle stablecoins. Specifically, the borrowing function uses a debt-based mechanism similar to the model used by MakerDAO to mint DAI. Users can simply deposit ETH, wBTC, or other collateral onto the platform. Also, can borrow agEUR in a cheap and capital-efficient manner. In the future, they also plan to integrat...

With decentralized market data from the industry-leading decentralized oracle network, users have stronger assurances that leveraged positions will be fairly liquidating. It’s using highly accurate price data and that the protocol will remain fully collateralized at all times. Tulip Protocol takes advantage of Solana’s high-throughput and low-cost blockchain, enabling users to more frequently reinvest their yield and compound their assets without incurring excessive gas fees. With Chainlink oracles natively integrated on Solana, they can seamlessly access the most widely used oracles in blockchain to help provide users with advanced, secure, and reliable yield aggregation. Tulip Protocol connects lenders who earn a yield on deposits with borrowers who want to access leverage . Users that open leverage positions must maintain a predetermined loan-to-value (LTV) ratio. They check with asset price data supplied by Chainlink Price Feeds. Accurate LTV ratios are a critical function in...

The updated dForce Trade version 1 (V1) aims to create a better trading experience by aggregating liquidity across different DEXes. Using different market depths within the same protocol. Furthermore, users can instantly swap ANY token for ANY token supports by DEXes. The dForce Trade will split the order amongst different platforms. Using an API containing an efficient routing algorithm, which finds the best possible paths in the shortest possible time. In the to-be-launched dForce Trade version 2 (V2), dForce aim to develop it into a cross-chain liquidity aggregation protocol. Facilitate a seamless flow of liquidity across different blockchains, which will further power a thriving multi-chain ecosystem for dForce. Users are able to edit slippage percentage and gas fees to adjust the processing time for the transaction. Users do not get charges any fees to swap tokens through dForce Trade. The goal of dForce Trade is to help users find the most cost-efficient way to exchange al...

Individual NFTs represent players on a ‘board’ where they can move around to earn rewards , join guilds, engage other players in battle (PvP), join guilds, and participate in boss raids and guild wars on a grand scale. Monopolon also has virtual land and infrastructure that players can purchase to build up equity and secure their place in the metaverse. Monopolon Token MLON allows players to purchase NFT characters within the game, and to participate in Monopolon’s DAO governance process. MGM allows players to purchase items in-game that have a wide array of utilities. Diviner Launchpad will create gamified utility for project tokens by adding their token to the prediction staking pool, thus their users can stake the token to earn prediction rewards and tickets used in the mini-games. In addition, Projects can get gamified marketing services with no fees, and all of their airdrop tokens will be distributed to the most active gamers. In this way, Diviner Launchpad not only can brin...

The round follows Sender’s April 2022 seed round of financing led by  Binance Labs and Metaweb Ventures . With this new round of financing, Sender plans to further expand its R&D team, raise the security threshold for Sender Wallet, and expand its wallet ecosystem . In addition, Sender has achieved rapid growth and completed integration with more than 30 mainstream projects in the NEAR ecosystem. The cumulative downloads of the plug-in and mobile versions have exceeded 500,000. Furthermore, making it the leading third -party wallet in the NEAR ecosystem. It also has built-in functions such as Staking, Swap, NFT showcase, and more. Furthermore, Sender is now capable of connecting to two hardware wallets, Ledger and Keystone. It also integrates with three well-known fiat-to-cryptocurrency service providers. These are  Moonpay, Banxa, and Transak, allowing users to purchase cryptocurrency in more than 140 countries. In the future, Sender’s plans include: Aggregation of liquidit...

Hacks have become increasingly common in the crypto-verse. While earlier exploits were limited to stealing funds, hackers these days have been on a roll to alert projects of their vulnerabilities. An array of compromised firms over the last couple of months have managed to retrieve funds, however, the uncertainty of being attacked remains. TransitSwap, a decentralized exchange aggregator was recently drained of about $23 million. While the platform managed to recover 70 percent of the funds, the hacker had a rather distressing message for the platform. The hack er exploited an internal bug on a swap contract . However, the hack er was soon traced as his IP, email address, and associated-on chain addresses were garnered. Following the efforts of several “parties”, the hacker returned about $16.2 million. It should be noted that funds were recovered in Ether, Binance-Peg ETH as well as Binance Coin [BNB]. 30 percent of the funds are still with the hack er. While it was bro...

JPEG’d — a novel protocol bridging the gap between DeFi and NFTs — is secured by Chainlink NFT Floor Pricing Feeds on Ethereum mainnet. By leveraging floor price feeds across a number of “blue-chip” NFT collections such as Cryptopunks and Bored Ape Yacht Club, JPEG’d enables users to take out loans using their NFTs as collateral. Chainlink NFT Floor Pricing Feeds help provide users with stronger assurances that loan amounts and liquidations will be determined according to highly secure and accurate NFT floor price data. JPEG’d is a lending platform that accepts NFTs as collateral for Collateralized Debt Positions (CDP). Similar to MakerDAO, when users deposit NFTs they mint either pETH (synthetic ETH) or pUSD( synthetic dollar). JPEG’d Integrates Chainlink, pETH and pUSD holders can deposit these tokens on Curve Finance to earn yield, or they can simply swap them for ETH. This unlocks the capital in NFTs with users still retaining ownership of them. JPEG’d Integrates Chainlink The prot...

Last month, crypto investors cheered the choice of a pro-cryptocurrency prime minister, but local banks continue to oppose the asset class. Santander is the most recent bank to crack down on crypto in the UK. It was claimed over the weekend that the retail bank intends to prevent real-time payments to cryptocurrency ex change s in 2023. The bank asserts that it protects consumers against fraud. The crypto embargo will affect Santander clients’ branch, mobile, and online banking. According to Reuters, bank customers would be allowed to receive cash from cryptocurrency ex change s, but not make deposits. Santander: Customers’ Safety According to a note on its website, Santander has “seen a rise in the number of UK clients who have fallen victim to cryptocurrency fraud” in recent months. According to a bank spokesperson, “keeping our customers safe from cryptocurrency scams is a top priority.” Also, it seems, is the ability to govern...

Hedera Hashgraph Network Empowers GCR Built on the Hedera Hashgraph network, the GCR ensures enhanced transparency. Additionally, it offers slight to medium developers a chance to shine and corporate buyers a clear view into their carbon credit investments.  advertisement Max Song, the visionary behind Carbonbase, voiced his excitement. “By leveraging the strength of both Hedera’s network and ImpactX’s innovative approach, we’re forging ahead into a new era for the carbon market,” said Song. Hence, this collaboration sets the stage for transformative changes in the climate-tech sector. GCR Adheres to IEEE Standards Moreover, the GCR’s standards align with the prestigious Institute of Electrical and Electronics Engineers (IEEE). Consequently, this adherence guarantees the credibility of climate impact reporting, a critical factor in today’s eco-conscious world. Kartik Kulkarni of IEEE commended the joint eff...

Bitcoin’s (BTC) price , was quite bearish today and was still below the $30,000 threshold at $25,997.91,  and down by around 0.04% since yesterday. Other well-known altcoins, Cardano (ADA) and Solana (SOL) experienced gains on the other side of the border. advertisement Ethereum is trading at $1,648.74, with almost 0.11% increase in the last 24 hours. Among other prominent cryptocurrencies, the XRP coin price observed a rise of 1%. Solana also faced gains, with its price increasing by 0.93%. On the other hand, Polygon (MATIC), which traded on red lines a few days back, is again up by 0.86%  since the last day.   Polkadot coin price saw a decrease of almost 1.10% in one day.  The realm of meme cryptocurrencies tells the same story. In the past 24 hours, Dogecoin’s price witnessed a decrease of around 0.39%, while Shiba Inu’s token price is up by almost 1.28%, in the last 24 hours. The Crypto Market today is primarily...

The US Treasury Department recently revealed a proposal outlining new tax rules for the cryptocurrency industry. Among the updates is the introduction of a 1099 form for crypto transactions. The new guidelines also clarify tax obligations for digital asset miners.  The proposed bill appears to exempt miners while potentially impacting cryptocurrency exchanges, causing backlash from the industry, especially decentralized finance (defi) professionals. A tailored tax form The proposed regulations come as a response to the 2021 Infrastructure Investment and Jobs Act, aiming to clarify tax reporting requirements for the rapidly evolving crypto sector. The document, released on Aug. 25, outlines the responsibilities that centralized crypto exchanges, payment processors, hosted wallet providers, and some decentralized exchanges will have regarding reporting obligations. The proposal mentions introducing a tailored tax form, known as the 1099-DA, specifically designed for crypto tra...

Another pivotal observation by IntoTheBlock revolves around the Total Value Locked (TVL) in DeFi protocols, which has recently hit a 2.5-year low. This downtrend is rooted in a series of events that led to a negative feedback loop within the ecosystem.  advertisement   DeFi Movers: Uniswap, Maker, and Avalanche Uniswap price a cornerstone of the DeFi space, is currently trading at at $4.57 with a 24-hour trading volume of $91 million. While it witnessed a minor 2.33% decline in the last 24 hours, its significant impact on the DeFi ecosystem remains undisputed.                                Uniswap comparison with AAVE, MAKER, AVAX  Source: Coingape Maker, a substantial player in the DeFi sector, is trading at $996.75 . Despite a recent 5.93% dip in the last 24 hours, Maker’s influence in the market is undeniable. With AAVE price at $56.28,  Aave has...

The Bitcoin supply at the exchanges has dropped to a 6-year low. Only a small portion, about 5.8%, of the total Bitcoin supply is currently held on exchanges. This marks the lowest level for the top cryptocurrency by market cap since December 17, 2017. Furthermore, there are consistent instances of significant whale transactions involving $BTC, averaging around 57.4K per week, reports Santiment. advertisement Courtesy: Santiment As Exchange Reserves decrease during a market downturn, it suggests that investors are opting to hold onto their assets for potential future profits instead of selling. If this trend continues, it could lead to a substantial price increase for Bitcoin when favorable macroeconomic factors and a positive global crypto market sentiment return. Another positive indicator is that Bitcoin whales have been accumulating recently after last week’s market crash. Since last week’s fall to $25,000, Bitcoin whales have accumulated over...