Decentralized finance (DeFi) protocol Wonderland saw its TIME token briefly drop below its treasury-backed value on Monday, prompting the team to buy back millions worth of TIME tokens to bolster the price.Wonderland falls within a category of popular DeFi projects known as “Ohm forks,” experimental protocols with aims of creating an independent monetary system. Yesterday’s … [Read more...] about DeFi’s Wonderland Is Buying TIME
DeFis
Collateral damage: DeFi’s ticking time bomb
As 2021 draws to a close, the premier lineup in the DeFi landscape largely consists of synthetic asset platforms (SAPs). An SAP is any platform that enables users to mint synthetics, which are derivatives whose values are pegged to existing assets in real time. As long as oracles can supply a reliable price feed, synthetics can represent any asset in the world and take on its … [Read more...] about Collateral damage: DeFi’s ticking time bomb
DeFi’s Decentralization Is an Illusion: BIS Quarterly Review
The review warned that stablecoins like DAI, which are backed by crypto assets, are “exposed to market risk, because the value of these assets can quickly drop below the face value of stablecoins.” The crypto arena doesn’t have a fallback like banks that can provide liquidity at times of stress, the report said. Source link … [Read more...] about DeFi’s Decentralization Is an Illusion: BIS Quarterly Review
Elrond Leapfrogs Into DeFi’s Top 10 as Users Chase Ridiculously Large Incentive Program
Mincu said that Elrond currently has functioning cross-chain bridges to Ethereum, Binance Smart Chain, Polygon, Avalanche, Fantom and Tron, and that more DeFi verticals will be coming to Elrond in the coming months, including lending and synthetic assets. Source link … [Read more...] about Elrond Leapfrogs Into DeFi’s Top 10 as Users Chase Ridiculously Large Incentive Program
DeFi’s quest to reimagine finance must come from a community-based design
Crypto has seen a rise in novel uses of liquidity mining and rewards through protocols like Uniswap, Aave and Compound. More recently, a new crop of DeFi 2.0 protocols such as OlympusDAO, Alchemix and Abracadabra are exploring new ways of operating without giving up token rewards. For all the innovations happening with decentralized systems in crypto, they are still failing to … [Read more...] about DeFi’s quest to reimagine finance must come from a community-based design