Day: January 12, 2021

Fei Plans to Join Stablecoin Party With Key Difference

Fei released details of its planned decentralized stablecoin protocol yesterday afternoon. Fei seeks to offer a novel design to combat some of the whale games that favored the earliest participants of decentralized stablecoins. Fei’s stablecoin, FEI, is a “decentralized, fair, liquid, and scalable stablecoin that exhibits a high fidelity peg” said the announcement post. It …

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Leverage is Coming to Yearn Finance Via Alpha Homora Protocol

Yearn is getting another tool: leverage. Yearn Finance, pioneer of yield aggregation, has started what participants hope to be a synergistic relationship with DeFi project Alpha Homora by way of its partner projects, C.R.E.A.M. and Sushiswap.  Alpha Homora, a protocol which enables leverage for liquidity providing and yield farming, recently announced its version two (v2) …

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Ethereum Short Positions at Highest Level Since 2019

Traders are betting ether’s plunge isn’t over yet. Ether short positions on Bitfinex, a top five spot exchange in terms of volume according to CoinMarketCap, are at the highest level since March 2019. The spike in short volume comes on the heels of a 14-day streak during which ethereum’s price nearly doubled, breaking through $1,000 …

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DeFi Liquidations Spike Amid Market Slump

It’s a bloodbath in crypto markets and DeFi borrowers are feeling the pain as liquidations spike. Total liquidation volume jumped to $14.6M on Jan. 10, almost tripling  from the previous day, according to data compiled by DeBank.  Risk of Leverage Liquidations, which in this context are the resale of borrowers’ collateral by other market participants, …

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$300M Whale Spotted in DeFi’s Turbulent Seas

A wallet holding over 1% of the $21B total value locked in DeFi has surfaced on crypto Twitter. The whale, whose ether address is 0xB1AdceddB2941033a090dD166a462fe1c2029484, has a net worth of ~$340M, with $482M in assets and $141M in debt, according to DeFi wallet tracker DeBank. Only $8.5M sits unused while 97% of the capital is …

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