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Decentralized finance ( DeFi ) has its fair share of ‘forks,’ but rarely do they top the total value locked (TVL) charts. Linea , the zero-knowledge rollup ‘bootstrapped’ by Consensys, claims to be ‘home to the most innovative web3 projects.’ But its largest project, ZeroLend , is a seemingly low-effort fork of Aave, the widely-established lending protocol . As noted by X (formerly Twitter) user @majinsayan, ZeroLend’s mobile site until very recently even redirected to Aave’s own FAQ section. The biggest protocol on linea (consensys) is a copy-paste aave-fork that forgot to change hotlinks of documentation which still links to aave docs ethereum people should shut the fuck up for 30 days and look at the bullshit they're peddling to the world go keep a clean house pic.twitter.com/MibgMXppuo — MAJIN (@majinsayan) July 6, 2024 At $235 million TVL, ZeroLend accounts for over a third of the blockchain’s entire $667 million TVL, according to data from ...

Crypto investment firm Pantera Capital says tokens with promising underlying protocols and product market fit are set to outperform in the upcoming cycle. According to a new report from Pantera Capital, tokens with promising underlying protocols and a demonstrated product-market fit are expect ed to outperform in the upcoming cycle “just as one would expect across other asset classes like equities.” Although Pantera Capital did not name specific tokens, the firm said that over the long term, token selection will be “paramount because outperformance will be on a case-by-case basis and not necessarily in a certain sector or based on fickle, short-lived speculative narratives.” “Our thesis is that altcoins underlying protocols that have product market fit and are generating real revenues with strong unit economics will perform best in the coming cycle, just as one would expect across other asset classes like equities.” Pantera Capital Y...

Tether and Bitfinex say the decision not to appeal the Freedom of Information Law request by several media outlets was made in the interests of transparency. Tether and Bitfinex have jointly agreed to drop initial opposition to a Freedom of Information Law (FOIL) request lodged in New York by a number of high-profile news publications. A statement from the USDT stablecoin issuer and cryptocurrency exchange shared with Cointelegraph notes that it is committed to transparently sharing information following a FOIL request from CoinDesk earlier this year. The companies also indicated that they would not be openly releasing documentation, claiming that the approach is not in line with its business practices: “It’s essential to clarify that transparency does not mean a wholesale release of all our documents.” Tether and Bitfinex will not appeal against the FOIL request put forward by journalists, including Zeke Faux, Shane Shifflett and Ada Hui, whom they accuse of exhibiting “certain beh...

Crypto analyst Jason Pizzino said in a recent YouTube video that Bitcoin (BTC) has broken above a key monthly resistance level for the first time since the 2018 bear market. Pizzino said Bitcoin closed above the monthly swing high from November 2018, marking the first time it has broken this resistance since the collapse after the 2017 bull market peak. The monthly swing tops are very, very important to this cycle. […] This essentially tells you the trend direction. Jason Pizzino Pizzino believes this breakout signals Bitcoin has likely bottomed from the latest bear market and is entering a new bullish phase. He pointed to the Wyckoff accumulation schematic, saying Bitcoin’s price action matches the typical phases coming off a low. We can now almost confidently say that for the majority of people that this was a market cycle bottom in November. Jason Pizzino The analyst expects Bitcoin to trade in a range between $32,000 and $48,000 over the next eight-to-11 m...

ZkDay Istanbul is all set for Nov. 13! The event marks the continuation of the premier zero knowledge-focused community conference. Zero knowledge-proof (ZK-proof) scalability solutions have grown in prominence in the crypto ecosystem in recent years, making way for several ZK-focused conference s and events. A marquee ZK conference dedicated to the growing community will take place on Nov. 13 in Istanbul, Turkey. ZkDay is hosted by zero knowledge layer-1 platform, the Manta Network, Polychain Capital, nil; Foundation and Cointelegraph. ZkDay is dedicated to facilitating top-notch community gatherings, fostering learning and networking, and driving the progress and application of ZK technology across the blockchain space. ZkDay Istanbul comes just three months after the success of ZkDay Paris in July, which hosted 3,000 attendees, with several participants in its “Pitch” competition securing financing rounds from tier-one investors. Register to attend zkDay Istanbul on November 13 f...

Google Cloud told Cointelegraph that the partnership was done in light of increasing interest from clients exploring blockchain workloads on Google Cloud. Google Cloud has joined forces with a Web3 startup to develop user-centric developer tools for decentralized finance (DeFi) to lower the barrier of entry into the decentralized world. The DeFi infrastructure provider Orderly Network has teamed up with Google Cloud to develop off-chain components of DeFi infrastructure focused on tackling self-custody and transparency challenges. Orderly will be a DeFi infrastructure provider, available on Google Cloud Marketplace. Google Cloud told Cointelegraph that the partnership was struck in light of increasing interest from clients exploring blockchain workloads on Google Cloud. Rishi Ramchandani, Head of APAC Web3 GTM, Google Cloud Asia Pacific told Cointelegraph that the surge in demand highlights the necessity for a tailored Web3 product suite. He added: “Working with Orderly Network to b...

After the collapse of Terra, the digital assets sector needed a way to identify critical nodes in the global DeFi community. Kanis Saengchote, a researcher at Chulalongkorn University in Thailand, recently developed a framework for identify ing and measuring systemic risk in decentralized finance (DeFi) institutions.  The new protocol is called the Global Systematically Important Protocol (G-SIP), and it’s based on a similar endeavor instituted in the traditional banking industry. After the global banking crisis of 2008, the traditional finance sector collaborated to come up with a protocol for identifying critical banking structures in order to implement strategies for the prevention of future collapses. Related: UBS Group agrees to $3.25B ‘emergency rescue’ of Credit Suisse What they came up with is a system to identify and measure “global systemically important banks ” (G-SIBs). This allowed the Bank for International Settlements to identify weaknesses and establish standard...

This latest report is a guide to help the next generation of cryptocurrency users and veterans alike in the ways of decentralized finance. The cryptocurrency market saw an explosion of growth during the 2021 decentralized finance (DeFi) Summer and increased fear of missing out (FOMO), which drove prices of Bitcoin (BTC) and much of the cryptocurrency market to all-time highs. During that time, the total value locked (TVL) across DeFi rose to nearly $180 billion before crashing down to earth.  After the past few weeks of the BTC price crossing the $30,000 threshold, some are speculating if the market is gearing up for another bull run. That could signal interest from both veterans of past cycles and those new to crypto to get interested in DeFi, and Cointelegraph Research’s latest report is here to help give insights to past, present and future DeFi users. Download the report on the Cointelegraph Research Terminal. “Investing in DeFi: A Comprehensive Guide” report is a perfect start ...

Chainlink, a web3 services platform, has published its Q2 2023 product update . The update focuses on three pillars: data, computing, and cross-chain capabilities. Chainlink’s Data Feeds and Data Products offer reliable on-chain information about external events, supporting the growth of on-chain finance and the tokenization of real-world assets. Noteworthy recent deployments include rate and volatility data feeds, enabling pricing, trading, and settlement of tokenized assets and on-chain derivatives contracts. Q2 2023 Product Update@chainlinklabs Chief Product Officer @kelmoujahid covers the latest deployments, what's next for #Chainlink oracle services, and the power of Chainlink as the industry-standard platform for Web3 builders. Dive in ️https://t.co/eKDQGR54wv — Chainlink (@chainlink) June 19, 2023 Chainlink Functions, a developer platform, empowers intelligent contract developers to connect their contracts with external data sources and run custom computat...

Mihailo Bjelic suggested that adding zero-knowledge proof technology could bolster the network’s security while still keeping fees low. Polygon co-founder Mihailo Bjelic has proposed upgrading the Polygon proof-of-stake (PoS) network to a “zkEVM validium” version, according to a June 20 forum post. If the upgrade is implemented, the new version will rely on zero-knowledge proofs to increase security. HUGE UPDATE ON #Polygon Polygon may go through some huge changes in near future. @MihailoBjelic shared a polygon improvement proposal few hours ago which discussed to upgrade polygon POS to zkEVM Validium. According to the proposal, Polygon POS is facing three key challenges… — Hitesh Malviya (@hmalviya9) June 20, 2023 Polygon PoS is an Ethereum scaling solution that has over $900 million in total value locked within its contracts and does over 2 million transactions per day. It was first launched in 2019. In March, the Polygon team launched a second network, Polygon zkEVM, that uses ze...

In a virtual conversation hosted by the reState Foundation the two thought leaders joined together to talk about the direction of the future of technology and human consciousness. Emerging technologies such as Blockchain are ushering in a new era of interactions between humans and the digital world. This is an evolving topic of conversation for thought-leaders both inside and outside of the industry trying to predict how such technologies will prompt change in the human experience.  On April 25th the reState Foundation hosted a virtual talk between co-founder and inventor of Ethereum Vitalik Buterin and founder of the Isha Foundation, the Indian mystic Sadhguru to discuss the intersection of technology and human consciousness.  reState Foundation, Sadhguru and Vitalik Buterin in conversation. Source: YouTube, reState Foundation Buterin opened the conversation by highlighting that the core of Blockchain technology is about “human coordination and interaction” with one another. He sai...

The 689 Ether, worth nearly $1.3 million, is the largest reward received since the 691 Ether reward on March 20 paid to Lido. A 689 Ether (ETH) reward worth $1.28 million has been paid from a single Miner Extractable Value (MEV)-boost relay block on the Ethereum Beacon Chain in one of the largest rewards in recent months. Ethereum liquid staking solution Lido was paid the reward from block number 17007842 on the Beacon Chain — which was finalized on April 9, contained 47 transactions and was built by beaverbuild.org, according to transaction data. High Proposer Payment Alert! Validator 0x388c... received 689.02 ETH. Block built by a @beaverbuild builder (0x96a59d...)‍ Slot: 6,181,978. Received through the @GnosisDAO relay.https://t.co/Pv3bqfZMrU — MEV-Boost Bot (@mevproposerbot) April 9, 2023 The reward almost matched Lido’s most recent high of 691 Ether on March 20. The figure raised the eyebrows of Martin Köppelmann, the co-founder and CEO of Ethereum-based infrastructure pl...

Several USD Coin holders have fled to other stablecoins amid fears surrounding its solvency. Several USD Coin (USDC) holders have fled to other stablecoins since March 10 amid fears surrounding its solvency following the disclosure that a small portion of USDC's collateral was held at Silicon Valley Bank. However, not all of them had success during panic selling. One user paid over 2,000,000 USDC to receive $0.05 of Tether (USDT) by dumping a large amount of 3CRV (DAI/USDC/USDT) into USDT. KyberSwap aggregation router was used in the transaction. Kyberswap is a decentralized exchange (DEX) that aggregates liquidity from several DEXs. In a postmortem, the protocol team explained that "since the market was undergoing a volatile period, all routes failed at estimating gas. The rate strongly fluctuated & only 0x’s route was successful but with a very poor rate." After confirming the swap at 0x's rate in a pop-up, a bot detected the opportunity and gained 2,085,256...

Buterin was specifically bullish on the rise of decentralized blockchain identities to enhance user privacy. In a blog post dated Dec. 5, Ethereum (ETH) co-founder Vitalik Buterin wrote that money, blockchain identities, decentralized finance (DeFi), decentralized autonomous organizations (DAOs), and hybrid applications were the top developments he was excited about in the Ethereum ecosystem. Buterin then described his experience in using Ether as a means of payment in a cafe in Argentina:  "When we walked in, the owner recognized me, and immediately showed me that he has ETH and other crypto-assets on his Binance account. We ordered tea and snacks, and we asked if we could pay in ETH. The coffee shop owner obliged, and showed me the QR code for his Binance deposit address, to which I sent about $20 of ETH from my Status wallet on my phone." Buterin continued that due to side effects of The Merge, "transactions get included significantly more quickly, and the chain ha...

Decentralization has been the long-standing ethos of the crypto -verse. However, the need for centralization soon crept in forcing platforms to operate in such a manner. Therefore, a whole new space called decentralized finance or DeFi came to be. Now, payments firm, Stripe was making DeFi more accessible to the masses. In a recent blog post, Stripe announced that it would carry out fiat-to- crypto payments for firms across the globe. Customers will be able to immediately buy crypto currencies in Web3 apps with the help of the product, which is a widget that can be customized and easily integrated into a decentralized exchange [DEX], non-fungible token [NFT] platform, wallet, or decentralized app [dapp]. The Solana [SOL] network is certainly relevant here as 11 of the firm’s 16 projects were formulated on this network. In addition to this, Stripe pointed out that it manages know-your-customer [KYC], payments, fraud, and compliance challenges and provides configurable ...

The collapse of the well-established crypto exchange FTX has instilled fear in the minds of participants. Of late, they’ve been moving their funds en-masse towards self-custody wallets and decentralized platform s. As analyzed a day back, the DYDX ecosystem—as a whole—seemed to have benefitted from the ongoing crisis. The decentralized exchange’s native token has been trading at around its quarterly peak. In fact, when zoomed out and viewed, it seems like the downfall of FTX has been a boon for the entire DeFi space. Decentralized Exchange [ DEX ] volume had been in a downtrend over the past few months. Just half the way down November, the number already stands around its 4-month high. From last month’s total of $50.82 billion settled, the number is already up to $84 billion at the moment. If the same pace continues over the next fortnight, November’s aggregate number could head toward the pre-established peaks. Source: The Block The Decentralized x ...

The popularity of decentralized finance played an integral role in the launch of MetaMask Institutional as companies looked to safely enter the space. Source: https://thebittimes.com/the-blue-fox-defi-s-rise-and-the-birth-of-metamask-institutional-tbt25748.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam Category: Ethereum News Post by: TheBitTimes.com

$500 million of the funds currently collateralizing the Dai (DAI) stablecoin will be reallocated to U.S. Treasuries and corporate bonds in an effort to provide the protocol low risk additional yield. Source: https://thebittimes.com/makerdao-goes-ahead-with-500m-investment-in-treasuries-and-bonds-tbt25724.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam Category: Ethereum News Post by: TheBitTimes.com