Waves community back DeFi revival plan for Vires.Finance
A Waves proposal that aims to solve the liquidity problem of Vires.Finance has passed after gaining the support of its community. The Waves (WAVES) community has supported a governance proposal to revive the decentralized finance (DeFi) lending protocol Vires.Finance after its liquidity crisis. The vote aims to stabilize the project and compensate the users who were affected. In April, Neutrino (USDN), a stablecoin running on the Waves platform, depegged from the dollar. This led to a series of user withdrawals within the platform, eventually ending in a liquidity shortage where users....
Related News
NSBT, WAVES and VIRES have been on a tear since the project developers revealed plans to migrate to Waves 2.0 to increase interoperability with major blockchains in the sector. Ongoing developments on the global stage continue to cause havoc in traditional markets and in the cryptocurrency sector.Despite these headwinds, projects in the Waves ecosystem have managed to climb higher in both price and total value locked (TVL) as a renewed focus on interoperability with popular blockchain networks brought fresh momentum. Total value locked on the top 3 Waves protocols. Source: Defi LlamaHere’s....
Ethereum competitors make inroads into DeFi as the total value locked and on-chain protocols continue to rise for these layer-1s. Layer-1 (L1) protocols are the foundation of the decentralized application ecosystem, with the Ethereum network dominating the landscape in terms of the number of protocols launched on-chain and total value locked (TVL), followed by BNB Chain and Fantom. As the sideways market of 2022 drags on and serious projects use the time away from the frenzy of bull markets to work on development, several L1 protocols have been outperforming the field and making gains....
Waves founder Sasha Ivanov says Alameda Research is behind the ongoing WAVES price decline. Neutrino Dollar (USDN), a stablecoin issued through Waves-backed Neutrino protocol, lost its U.S. dollar-peg on April 4 amid speculations that it could become "insolvent" in the future.USDN plunges 15% despite WAVES backingUSDN dropped to as low as $0.822 on April 4 with its market capitalization also diving to $824.25 million, down 14% from its year-to-date high of $960.25 million.Interestingly, the stablecoin's plunge occurred despite Neutrino's claims of backing its $1-peg via what's called "over....
The Cryptocoin Revival Foundation took over lead development on Quarkbar and then discovered over 15 million Quarkbar that were not a part of the original blockchain. The foundation then worked with exchanges to lock those wallets and secure the faulty coins. Back in April, with the Quarkbar's original developer long gone and the community struggling, the Cryptocoin Revival Foundation took the lead on the project. They patched some security holes, released new wallets and generally did things that it considers its mission as the Cryptocurrency Revival Foundation. The foundation was able to....
Back in 2021, the decentralized finance (DeFi) space experienced explosive growth which led to a rapid rise in total value locked (TVL). The TVL would continue to grow into 2022 and maintain a decent level even through the initial bear market triggered by the Terra collapse. However, the glory days are long over now and […]