Owen Fernau, Author at The Defiant

No Collateral, No Problem: Goldfinch Raises $11M to Bring Unsecured Loans to DeFi

Leave a Comment / Dive, News / By Owen Fernau / June 17, 2021 June 17, 2021 / DeFi, Ethereum, Goldfinch, Synthetic Assets, Uncollateralized Loans

Unsecured loans, long a missing piece in the DeFi puzzle, may finally be coming to open finance. Goldfinch, a DeFi platform that specializes in making no-collateral loans, announced an $11M raise from the likes of Andreeson Horowitz, DeFi Alliance, and other investors. Goldfinch enables borrowers to garner access to unsecured loans without having to go …

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Curve Drama Intensifies as New Proposals Target alUSD and Saddle Finance

Leave a Comment / Dive, News / By Owen Fernau / June 17, 2021 June 17, 2021 / Alchemix, Curve, DAOs, DeFi, Ethereum, Polygon, Saddle, Uniswap

In the wake of Alchemix’s troubled alETH release, Curve Finance has produced two governance proposals targeting tangential products of the automated loan repayment protocol. There’s also been a flurry of chatter about possible legal action as the dustup accelerates. The first target — Curve’s own alUSD pool. Charlie Watkins, project lead at Curve, proposed removing …

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Synthetic Exchange Declares Independence with Own Token

Leave a Comment / Dive, News / By Owen Fernau / June 16, 2021 June 16, 2021 / Derivatives, Synthetic Assets, Synthetix, Uniswap, Yearn Finance

Kwenta, an exchange interface for Synthetix’s derivatives, has declared itself an “independent project operating outside of the Synthetix core contributors,” according to an announcement post. The project will also issue a token, KWENTA, that will be used to participate in governance and to “bootstrap the community and fuel an early development team.” It’s a sign …

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Liquidations Whack Synthetix

Leave a Comment / Dive, News / By Owen Fernau / June 15, 2021 June 15, 2021 / Bitcoin, DeFi, Derivatives, ETH, Ethereum, Synthetic Assets, Synthetix

In a sign of volatility in the blockchain-derivatives market, liquidations on the Synthetix platform skyrocketed to $19.4M, on June 11, a 30-fold jump from the next highest level on May 13, according to data from The Graph. . As worrisome as that spike might be, the liquidations were right in line with how the system …

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Alchemix Allows Users to Stay Long ETH With Auto-Loan Repayment

Leave a Comment / Dive, News / By Owen Fernau / June 15, 2021 June 15, 2021 / Alchemix, DeFi, ETH, Ethereum, Polygon

Last weekend, Alchemix, which offers automatic repaying loans, shipped a vault that accepts ETH. Alchemix users will now be able to borrow alETH, Alchemix’s token that’s soft-pegged to ETH, using ETH as collateral. The collateralization ratio: 400%. The launch came with a debt cap of 2,000 alETH and it was reached within a day of launch, …

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Owen Fernau