Finance Redefined: What’s a DeFi merger, anyway? Nov. 25–Dec. 2
Yearn “acquisitions” dominated headlines this week. The biggest events in DeFi this week all involved Yearn.finance, the yield farming optimization protocol. I covered the first, Pickle Finance, in my last installment.Since then, we’ve seen integrations with Cream Finance, a lending protocol similar to Compound; Cover Protocol, an insurance provider that recently paid out users for the Pickle hack; Akropolis, another protocol primarily dealing with yield optimization; and as the most significant of all, SushiSwap, the decentralized exchange born as a Uniswap parasite.The Yearn ecosystem....
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Yearn Finance is eyeing yet another merger – only this time, the candidate, SushiSwap, has a larger market size than Yearn itself.
Pickle Finance got hacked so badly on Saturday that its developers asked to be merged into Yearn. Finance Redefined is Cointelegraph’s weekly DeFi-centric newsletter, delivered to subscribers every Wednesday.On Saturday, we saw one of the most complex smart contract hacks yet affecting Pickle Finance, a yield optimization protocol very similar to Yearn — an important point for later.PeckShield provided a technical explanation for it, but I think only Solidity developers can really understand it. The high-level take is that the hacker found two textbook examples of code vulnerabilities in....
Bitcoin DeFi, Bitcoin on Ethereum: We explore the ways DeFi and Bitcoin intersect. Finance Redefined is Cointelegraph's DeFi-centric newsletter, delivered to subscribers every Wednesday.Today the crypto world is celebrating Bitcoin’s new all-time high. We did it guys! We’re back to $20,000 after three grueling years.So for this reason, this will be a bit of a Bitcoin-themed newsletter. How is Bitcoin related to DeFi, you ask? Well, for one thing, DeFi’s total value locked has a delta of about 0.2 to Bitcoin’s price. This means that for each 1% that BTC price goes higher or lower, DeFi TVL....
Some stablecoins are more useful than others. This is the latest issue of Finance Redefined, Cointelegraph's DeFi-centric newsletter delivered to subscribers every Wednesday.A relatively quiet week in DeFi finally has given me some breathing room to talk about a subject I’ve been postponing since almost the beginning of this newsletter, namely: What’s up with DeFi’s weird obsession with algorithmic stablecoins?There are so many of them, and so many new projects get an unreasonable amount of attention. The latest is Basis Cash, which turned the heads of quite a few farmers this week.BAC....
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....