Finance Redefined: Alchemix rugpull remuneration, and Aave v. 2.5! June 16-23
The first-ever “reverse rug” has a surprising compensation plan, and the largest protocol in DeFi ponders growth. After close to a month of consulting with industry experts and journalists within Cointelegraph and without, we’re proud to unveil a new segment for Finance Redefined, a.k.a. the premier DeFi industry newsletter: on-chain analysis. Reporters will often look to public records to bolster stories, and the blockchain is no different. Everything from analyzing the wallet of the fake Banksy NFT artist to following-up with exploiter wallets in the wake of hacks, the data is often used....
Related News
Alchemix users will be able to draw no-liquidation loans backed by future yield. New decentralized finance project Alchemix Finance has raised a strategic $3.1 million round from notable crypto investments funds and angels.The round was led by Spartan Capital, the investment arm of crypto consulting firm The Spartan Group. Delphi Ventures, Nascent, CMS Holdings, Maven 11, Genesis Block Ventures participated in the round as well. Several angel investors joined in as well, including Jason Choi, general partner at The Spartan Group.Alchemix also raised $4.9 million in an over-the-counter....
In an unusual twist for the latest DeFi exploit, the users were the ones to walk away in profit. It’s as miraculous as Aladdin taking off on a magic carpet: in a possible first, some of the users of a decentralized finance protocol were the ones to benefit today from an exploit, turning the concept of a ‘rugpull’ on its head. A colloquialism for when liquidity is drained from a project (often an unscrupulous founder or developer draining the funds themselves), depositors and DeFi users are most often the ones holding bad debt and/or worthless tokens — left to hope for compensation plans....
Why acquire when you can integrate? Happy Wednesday fellow DeFi degens! I was expecting to spend a large portion of this edition of Finance Redefined analyzing Aave's liquidity mining program. There was some anxiety from investors that the emission of 2,200 $AAVE per day (which would translate to roughly 5% of the ecosystem reserve fund of 2.8 million AAVE per year) might end up dragging down the token's price as farmers earn and dump. I would feel very uncomfortable holding an asset if the governance token of a very important protocol ends up in the hands of people who only think about....
Established VC firms join more atypical investment entities in positioning the young DeFi protocol for the future A fast riser in the decentralized finance (DeFi) world has announced a $4.9 million raise today led by major industry venture capital groups — as well as some unusual, upstart players. Alchemix, a DeFi lending protocol whose loans automatically repay themselves via deposits into other yield-bearing protocols, announced on Discord today a $4.9 million raise led by ten investors including industry mainstays CMS Holdings and Alameda Research, as well as upstart crypto VC players....
Top decentralized finance (DeFi) coins such as AAVE are outperforming over the past day. While Bitcoin and Ethereum are both up massively today, AAVE is up 18.5% in the past 24 hours alone. This performance makes it the best-performing digital asset in the top 100 by market capitalization. AAVE is now up by approximately 10% […]