Is DeFi yield appetite rising again? Enso raises $5M as YFI hits new highs
Enso raises $5 million from top funds and YFI price hits a new record high as the demand for DeFi yield rises. The appetite for DeFi is rising again as blue chips are rallying and yield-earning strategy-sharing platforms, like Enso, are on the rise.Enso, a platform where users can share yield-earning strategies, raised $5 million on April 13 from top U.S. venture capital firms including Polychain Capital and Multicoin Capital.Synthetix (SNX) founder Kain Warwick, Aave founder Stani Kulechov, Dfinity COO Artia Moghbel, and other prominent angels took part in the round.The high-profile....
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The Enso team hopes to capture over a billion dollars in total value locked (TVL) from the stunt, but users must remain staked for at least 3 weeks to see any benefit. Metaverse-based social trading platform Enso Finance has announced its plans to launch its platform by performing a “vampire attack” on six major crypto index projects on Dec. 9.A vampire attack is when a platform entices users and liquidity from a competing platform by offering higher incentives for use. In September 2020, SushiSwap performed a vampire attack that led to about $1.5 billion moving from Uniswap to....
YIELD sets out to simplify the process of investing in DeFi products.
Since February 2020, we have seen a steady growth of the blockchain space and, most significantly, decentralized finance. While DeFi isn’t entirely new, the network’s growth has been more aggressive this year than it has ever been. The distribution of COMP governance token and the introduction of yield farming protocols around June this year has made DeFi the most engaging conversation in the blockchain space, no doubt. DeFi Yield Protocol (DYP) Decentralized finance has only grown this much because of the control and ease it offers users. By allowing users to utilize....
Yield farming was the defi craze of summer 2020, taking the nascent industry by storm and ushering in new ways to distribute tokens, engage communities, and strengthen network effects. After peaking in October, when yield farms helped send Ethereum network fees to record highs, the yield farming craze abated slightly due to saturation and diminished […]
The Ethereum decentralized finance market has undergone a strong rejection over recent weeks. Leading DeFi coins are down 30-80% since the highs they posted in mid August or early September. One analysis by a noted crypto analyst shows that the average DeFi coin, including Ethereum, is down 60.5% since their local highs. Even the best-performer, […]