Finance Redefined: MetaMask institutional offering, Polygon to go carbon neut...
In this week's DeFi newsletter we look at the growing market of Metamask, Polygon's pledge to go carbon neutral and more. The decentralized finance (DeFi) world saw another week of increased on-chain and developer activity while token prices entered the second week of the bear market, with many of the tokens bleeding in double digits over the past week. MetaMask expanded its institutional offering by partnering with four institutional custodians, while Polygon has pledged to go carbon neutral.We will also look at how users can bridge different tokens to the Polygon network and look into....
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The rise of crypto custody continues as more institutional investors seek exposure to Bitcoin, Ether and decentralized finance. Decentralized finance (DeFi) wallet and browser extension MetaMask has partnered with three crypto-focused custodians as part of a broader effort to attract more institutional capital to the digital asset market. On Tuesday, the company announced new partnerships with BitGo, Qredo and Cactus Custody centered around MetaMask Institutional — a new product offering that gives institutional investors access to the large sums of collateral in the DeFi market.....
Airdrop hunters flocked to MetaMask Swap and the Polygon network in an effort to qualify for a possible token distribution from the popular cryptocurrency wallet provider. Five- to six-figure-size airdrops have become the new norm in the crypto sector, and a growing number of analysts believe there are more to come. In September, dYdX distributed a massive airdrop to early users, and last week, the Ethereum Name Service gave out roughly $17,000 to $30,000 in ENS tokens to platform users. Anticipation of additional “helicopter money” has also led to a flurry of airdrop hunters seeking out....
MMI product lead Johann Bornman labeled the integration with Cactus Custody’s DeFi Connector as a “profound DeFi offering for institutions.” The institutional arm of the Consensys-owned MetaMask has integrated its first multi-chain digital asset custody solution called Cactus Custody.MetaMask Institutional (MMI) initially partnered with Cactus Custody owned by crypto financial service platform Matrixport in October last year to incorporate its “DeFi Connector” feature into MMI’s suite of services. The full integration with MMI was announced on Jan. 26, and Cactus Custody’s feature will now....
The popularity of decentralized finance played an integral role in the launch of MetaMask Institutional as companies looked to safely enter the space. MetaMask is arguably one of the most well-known self-custodial Ethereum software wallets in the cryptocurrency ecosystem, with its signature Orange Fox avatar plug-in acting as a portal to the world of Ether (ETH)-based tokens, decentralized applications (DApps) and decentralized finance (DeFi).The retail browser plug-in wallet surpassed 30 million users worldwide in 2022 and has slowly turned its attention to serving a growing number of....
Polygon expects to eliminate a considerable amount of carbon traces from its system as the Merge nears. The Ethereum Merge is just around the corner. With a soft deadline set on September 15, the world will soon find out whether or not the developers’ hopes for a positive change are realized. The Ethereum-based Polygon blockchain will also undergo changes as a result of the Merge. In a nutshell , the Merge is the transition from Proof-of-Work (PoW) to Proof-of-stake (PoS). With this update, the Ethereum network should use less energy in the future. If you take Chile’s annual....