DeFi projects face a painful dilemma right now as they seek ‘the holy grail’
Many DeFi projects face a painful dilemma: Should their protocols be designed for professional traders, or everyday consumers yet to embrace crypto in their masses? Cryptocurrencies have garnered something of a reputation as being fast, dangerous and lethal for many — so much so that the average investor is scared of digital assets.The volatility that’s associated with this new asset class has also meant that gaining exposure to the world’s biggest coins has been likened to an experience that’s not for the faint-hearted — or, in traditional investor terms, “not for the wise.”Inevitably,....
Related News
Several solutions can potentially improve cross-border payments significantly and central bank digital currency (CBDC) could be the “holy grail,” according to the European Central Bank (ECB). In a new report, the eurozone’s monetary authority also claims stablecoins, among other options, are “problematic.”
‘Holy Grail’ of Cross-Border Payments in Reach Through CBDC, European Central Bank Insists
Cross-border payments should be immediate, cheap, universal, and settled in a secure medium, the European Central Bank remarks in a....
DeFi apps attempt to return crypto funds affected by the KuCoin hack to users. Are they to blame for the issues? The recent KuCoin exchange hack and ongoing OKEx incident, during which withdrawals have been frozen, have raised questions as to how blockchain projects with coins traded on exchanges should act when said exchanges are hacked or funds are stuck.When it comes to projects such as Tron, which replaced tokens that were held by OKEx, such actions are to be expected because their work is based on a central governance model. However, are projects able to pause smart contracts or....
Charges against BitMEX for weak AML and KYC policies could be bad news for the world of decentralized finance In the aftermath of criminal charges against BitMEX, the crypto community is debating whether the decentralized finance sector is also set to face the wrath of regulators.On Oct 1, the U.S. Commodity Futures Trading Commission announced charges against three BitMEX executives for violating the Bank Secrecy Act (BSA) due to the exchange’s allegedly weak anti-money laundering and know-your-customer (KYC) policies. DeFi protocols, including Decentralized Exchanges (DEXs) have made a....
Almost inherent to the industry is the idea of expanding, evolving and changing with this ever-growing market. Therefore, many decentralized finance (DeFi) projects come out to show what they got to see whether it can be the next big hit. What comes from these endeavors is the idea that there are ways to change the way people interact with DeFi and related services, usually through a community of cryptocurrency investors through which platforms can gain exposure and raise funding for their projects. Reducing System Problems One project looking to change DeFi interaction is Optimus....
Open DeFi’s new DAO will be community governed through a governance token. Decentralized finance alliance, Open DeFi, has announced it will create a decentralized autonomous organization, or DAO, to support its vision for an open and global cross-chain DeFi ecosystem.The alliance launched in late 2020 with the goal of bringing together Western and Eastern DeFi projects and has since seen some of the sector’s top projects join its ranks including as Aave, Synthetix and Balancer.The responsibilities of the Open DeFi DAO, or OD DAO, will include launching DeFi products across multiple....