DeFi snowball will turn into a Web 3.0 avalanche
We are at a pivotal moment in the history of the internet. And DeFi is a symptom of the real shift from centralized services to decentralized. Decentralized finance has exploded over the past 12 months. The swapping, staking and yield farming successes have been well touted. The DeFi market cap has reached $45 billion, and there’s over $28 billion total value locked in DeFi today. That’s up from $600 million in January 2020 — a 4,300% increase.As with all nascent technology, new money flowing into a sector attracts talent, innovation and the best entrepreneurs. Whether we like it or not,....
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On September 21, 2021, an Avalanche-based decentralized finance (defi) platform Vee Finance announced that it suffered from an incident that siphoned 8,804 ether and 213 bitcoin out of the system. The team has suspended the defi platform contracts and stressed that the stablecoins have not been “affected by the attack.”
Defi Project Vee Finance Suffers a Loss of $35 Million From Hack
The Avalanche (AVAX) blockchain has been a popular network in recent times and it has attracted a number of defi applications like Benqi.fi, Trader Joe, Lydia Finance, Shroom Finance,....
PRESS RELEASE. BENQI, an algorithmic liquidity market protocol, and the Avalanche Foundation are collaborating on a joint liquidity mining program to celebrate the launch of the BENQI protocol on the 19th of August and the next phase of growth within Avalanche’s DeFi ecosystem. $3MM of AVAX will be allocated as liquidity incentives for BENQI users, with additional incentive programs coming soon. The AVAX will be offered as rewards to users who are lending and borrowing AVAX, ETH, LINK, wBTC, USDT, and DAI on the protocol with BENQI. AVAX is the native token of Avalanche. It’s....
The blockchain company Tether has announced it will make available its stablecoin token as a native asset in Avalanche, a smart contract platform that has picked steam in the last year. Avalanche has a growing decentralized finance (defi) ecosystem, so this launch will most likely improve its state, providing users an official and safe way of parking and staking their assets on Avalanche. Tether to Launch on Avalanche Tether, the company behind the issuance of USDT, one of the most popular stablecoin tokens in the cryptocurrency market, has announced it is in the early stages of launching....
The multi-stage program will start with $27M tokens allocated for the Aave and Curve protocols, with additional incentives reserved for Avalanche native projects. Smart contract platform Avalanche has announced a $180 million liquidity mining incentive program, named Avalanche Rush. The program aims to encourage more applications and tokens to move to Avalanche’s decentralized finance (DeFi) platform, according to the release.It's set to follow a multi-stage deployment starting with the Aave and Curve protocols, before expanding to other assets in the coming months. For this first stage,....
Avalanche (AVAX) has been hit pretty hard since the bear market started. The digital asset which reached an all-time high of $146 back in November of 2021 is not trading just below $15. This has led to a decline in confidence in the digital asset. However, protocols such as Avalanche have shown over time that they can sometimes be underestimated and the latest announcement from the project proves this. Avalanche Keeps Building Normally, during the bull market when there is decreased participation in the space, a lot of protocols tend to not build as much as they usually would. However,....