Altcoin Roundup: DeFi token prices are down, but utility is on the rise

Altcoin Roundup: DeFi token prices are down, but utility is on the rise

DeFi token prices leave a lot to be desired, but the sector’s real benefit is the lending and liquid staking options, not the price of useless governance tokens. The decentralized finance (DeFi) sector has been sitting in the backseat since whipping up a frenzy in the summer of 2020 through the first quarter of 2021. Currently, investors are debating whether the crypto sector is in a bull or bear market, meaning, it’s a good time to check in on the state of DeFi and identify which protocols might be setting new trends.Here’s a look at the top-ranking DeFi protocols and a review of the....


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DeFi Protocol EverRise Introduces New Utility for On-Chain NFTs

EverRise, the blockchain technology company that brought the buyback to crypto, has upgraded to a new smart contract that supports VeNomics (vote escrowed token model) and on-chain utility NFTs. The upgraded EverRise protocol introduces increased security features and an innovative staking platform built with on-chain utility NFTs. The RISE token is available on Ethereum, BNB Chain, Polygon, Fantom, and Avalanche with one shared supply, made possible with EverRise’s bridging solution, EverBridge. With use of on-chain NFTs, staking contracts are now fully....

Deus Finance exploit: Hackers get away with $3M worth of DAI and Ether

Deus Finance had acknowledged the exploit on its lending contract and the CEO of the firm was quick to come up with a reimbursement plan. Multi-token decentralized finance (DeFi) marketplace Deus Finance has become the latest victim of an exploit resulting in over $3 million losses in DAI and Ether (ETH).DeFi analytic firm PeckShield took to Twitter to explain the cause and manner in which the funds were exploited. The hackers behind the attack managed to exploit and manipulate price oracle for flash loans, resulting in the insolvency of users’ funds. 1/ @deusdao Deus Finance was exploited....

Altcoin Roundup: Post-crash prices give investors a chance to build a diversi...

Looking to build a diversified crypto portfolio? DeFi, stablecoins and oracles are three cornerstone sectors to consider. Welcome to Cointelegraph Market’s Altcoin Roundup, an in-depth newsletter that focuses on investing from the perspective of fundamental analysis and seeks to identify emerging blockchain projects and tokens that fill niche demands within the growing cryptocurrency market.The concept of multi-sector investing has long been advocated in traditional finance as the conventional approach to building a balanced portfolio. Typical allocations include representation of stocks,....

pax․world: A Token Must Be an Economic Bedrock Not a Collectable Gimmick for ...

This week, pax.world launched $PAXW, its proprietary utility token for the metaverse. The process of designing and launching $PAXW has provided a clear understanding of the token’s inherent purposes, enormous potential, and possible dangers. Let’s begin at the top: A utility token is a cryptocurrency that serves a specific purpose within a particular ecosystem. Utility tokens give holders the right to perform specific actions on a blockchain network or decentralised application – in this case, $PAXW is native to pax.world. It is a utility and governance token rolled into....

Bitcoin News Roundup for Jan. 8, 2021

With BTC hitting another record high of $41K plus a look at the ongoing rise and where it could end, CoinDesk’s Market’s Daily is back with the latest crypto news roundup.