Much DAO: Open DeFi unveils DAO to support the entire ecosystem
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....
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The new ecosystem fund will be used to support the 7,500 developers on Flow to build new gaming, infrastructure, DeFi, and content creator products on the NFT blockchain. The Flow ecosystem is set to get a boost in support from a new $725 million fund that will be used to invest in the growth of the nonfungible token network.Flow (FLOW) is a layer-1 blockchain developed by Dapper Labs and purpose-made for NFTs. Dapper Labs also created the popular NBA Top Shot NFT collection. Flow utilizes an eco-friendly proof of stake (PoS) consensus algorithm.The new fund was backed by 17 firms that....
While crypto prices have seen some healing during the last few days, the total value locked (TVL) across the entire decentralized finance (defi) ecosystem has also improved. The TVL in defi has seen an increase of 7.19% since June 20, and the defi protocol Makerdao’s TVL dominates by 10.37% this weekend. Defi TVL Improves, Cross-Chain Bridge TVL Slips, $100 Million Stolen From Harmony’s Horizon Bridge Decentralized finance has taken a hit from the recent crypto bloodbath following the Terra blockchain fallout, the most recent Federal Reserve rate hike, and the alleged....
Ethereum has unleashed a wave of financial innovation. A paper published by the Federal Reserve Bank of St Louis has delved into the expansion of decentralized finance and Ethereum’s role in it.The research, penned by Dr. Fabian Schär and published on May 2, has taken a deep dive into the world of DeFi, hinting that if security concerns and risks can be addressed, it may lead to huge changes in the financial industry."DeFi uses smart contracts to create protocols that replicate existing financial services in a more open, interoperable, and transparent way," Dr. Fabian Schär wrote, also....
The leading layer-2 DeFi lending protocol, EasyFi Network has launched its #BuildWithEasyFi initiative to encourage the developer community to leverage various benefits offered by the EasyFi ecosystem. As a part of the initiative, EasyFi has announced a Developer’s Fund and Grants program where promising projects and individuals can gain access to the capital necessary to build their products, in turn contributing to the growth of the EasyFi Network. According to the company, the Developer’s Fund has been in the works as part of its roadmap for the year 2021. The fund will encourage open....
The DeFi space has grown exponentially during the past couple years. In 2019, the entire decentralized finance ecosystem had been valued at less than $500 million. In February 2020, the DeFi market reached the $1 billion mark. Currently, the DeFi sector has reached nearly $100 billion according to available data. Even though there was a […]