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The decentralized finance (DeFi) space continues to attract more and more attention from cryptocurrency investors. ForkLog has collected the most important events and news from recent weeks in its summary.

DeFi segment key indicators

The volume of frozen funds (TVL) in the DeFi agreement remained at the same level – $198 billion. the Curve Finance agreement still leads with $17.68 billion) – and third.

1-630-1024x740.png.webp Data: DeFi Llama.

Defi Llama includes a set of tokenized bitcoins in the final value. WBTC ranks seventh with $10.61 billion. hBTC is in 20th place with $1.55 billion. The total value of "bitcoin on ethereum" is $13.29 billion.

TVL in Ethernet applications fell to $108.32 billion, with the metric down 7% in the last 30 days (on Feb. 19, it was worth $116.41 billion).

2-525-1024x358.png.webp Data: DeFi Llama.

Decentralized exchange (DEX) volume over the past 30 days was $72.7 billion.

Uniswap continues to dominate the non-custodial trading market, accounting for 76.5% of total volume. The second largest DEX by volume was Curve (7.2%).

1inch Network launches direct exchange of tokens between users

The 1inch Network DeFi project introduces a P2P order feature that allows users to trade digital assets directly with each other.

“P2P orders would be useful in situations where a token is not liquid enough for large OTC transactions and where swaps on the market would result in significant slippage. The same applies to tokens that are not yet traded on the market, such as those in the pre-sale stage,” the statement said.

The P2P order system is based on the 1inch limit order protocol. This feature is available in all networks supported by the project.

The main advantages of this exchange approach, according to the project team, are complete decentralization and smart contract execution guarantees. 1inch does not store transaction data on the server – everything is kept in the user's browser. Data is transmitted only as a link.

Uniswap community proposes to deploy the protocol on the Celo blockchain

Uniswap community members have proposed a third version of the decentralized exchange on the Celo network.

The proposal was created by Michigan's blockchain in partnership with the Celo Climate Initiative and the nonprofit Celo Foundation.

The latter, as part of the partnership, intends to launch a $10 million Uniswap user incentive program and provide additional financial assistance to the exchange in the future.

The launch of the Uniswap V3 protocol on the network involves the creation of liquid mining pools of "green assets" from Celo, such as tokenized carbon credits.

The authors of the proposal note that the collaboration is intended to stimulate future Green Exchange use cases.

At the time of writing, the proposal had the support of nearly 9 million UNI governance token holders and virtually no opposition. Voting ended on March 13.

THORChain Launches Synthetic Asset, RUNE Price Rises 50%

The price of the native token of the cross-chain protocol THORChain (RUNE) rose by 50% in the context of the activation of the synthetic asset mining pool.

At the time of this writing, it was trading at $6.

Snimok-ekrana-2022-03-12-v-19.11.35-1024x640.png.webp K-line chart of RUNE/USDT on the Cryptocurrency Exchange. Data: Trading view.

Synthetic assets or "composites" are tokens that are secured by pledges and whose price is based on the value of other tokens. The THORChain protocol uses a mining pool as collateral and consists of an equal percentage of the underlying cryptocurrency and RUNE.

THORChain lead developer Chad Barraford explains that this approach improves the security and resilience of the network.

According to him, the composites halve trading commissions and allow you to complete "almost instant transactions" at a lower cost of gasoline. He also added that by using these assets, liquidity providers can earn more than they contribute to the pool of funds.

Investment DeFi

Zebec, the Solana-backed continuous trade settlement protocol team, closed a $15 million Series A round of funding.

It is led by Solana Ventures and Distributed Global, with contributions from Coinbase Ventures, Alameda Research, Circle and Lightspeed.

The startup will use the funds received to further expand the protocol. His idea is to make it easier to send and receive payments on an ongoing basis.

Zebec Payroll allows employees to automatically convert a portion of the funds they receive into digital currency, allocate it to a cryptocurrency pension plan, invest it in the DeFi protocol, and withdraw it to their bank account in legal tender without paying commissions.

The team behind Nested, DeFi's social trading platform, has closed a $7.5 million Series A round of funding.

It is led by billionaire Alan Howard's Brevan Howard, with contributions from CMT Digital, Kenetic Capital, Republic Capital and others.

The funds will be used to expand the number of supported blockchains and platform features.

Nested allows users to showcase NFT portfolios on social media or send them as gifts or rewards.

Cake DeFi, a Singapore-based cryptocurrency fintech platform, has launched a $100 million venture capital arm.

Cake DeFi Ventures (CDV) will focus on investing in startups in the Web 3.0, metaverse, NFT, gaming, and fintech industries.

The venture fund will be led by Cake DeFi CEO Julian Hosp and Chief Technology Officer Yu Jin Chua.

The company positions itself as a provider of a decentralized financial platform where users can buy and sell cryptocurrencies and participate in services such as pledging and lending.

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