The Defiant

Loading...

🪂DeFi Lending Posts 15-Month High

The Defiant

DeFi Daily

Together with

Together with

GM Defiers!

Web3 users have taken out more than $6B worth of loans from decentralized lending protocols, signifying strong DeFi activity amid the recent crypto rally. The data shows traders are using lending protocols as decentralized vehicles for leverage as the markets build momentum.

Plus, leading Latin American banking providers are embracing crypto, Bitcoin miners are boycotting inscriptions, Arbitrum is extending its grants program, and Helium is tapping T-Mobile's telecommunications infrastructure.

✍️ In today’s newsletter:

  • $6B in DeFi loans outstanding
  • Latin America's mainstream crypto push
  • Ocean mining pool blocks inscriptions
  • Arbitrum approves 26 grants
  • Helium competes in telecommunications

🙏Sponsored

📈 Markets in last 24 hrs:

TickerValue24h
BTC$44,106 5.08%
ETH$2,294 2.28%
S&P 500$4,549 -0.39%
GOLD$2,030 0.59%
Arch WEB31.19pts -2.77%
FINANCE1.08pts -3.99%
INFRA1.36pts -1.79%
CONSUMER1.36pts -1.59%
Arch WEB3

Learn more about Arch Indices here.

🎬 WATCH

Check out our recent interviews with Ethereum's chief scientist, Vitalik Buterin, and MakerDAO's co-founder, Rune Christensen, from the Devconnect conference in Istanbul. And watch our podcast with Arjun Bhuptani, the founder and CEO of Connext Labs, to learn about the forefront of cross-chain interoperability.


PHISHING SCAM WARNING FOR READERS

The Defiant is not releasing a token any time soon!

Reminder: The correct domain for The Defiant is THEDEFIANT.IO — NEVER click on any links coming from other domains!

A subset of our subscribers have reported receiving a phishing email promoting a Defiant token - To be clear, we do not have a token nor are planning to launch one in the near future. We urge our community to NEVER click on links coming from outside our official communication channels, which are:
- https://thedefiant.io
- https://twitter.com/DefiantNews
- https://discord.com/invite/3SdRdEs5ag
- https://youtube.com/TheDefiant


THANKING OUR NEWSLETTER SPONSORS

| Newsletter continues below |

Strengthen the ecosystem’s infrastructure, lead the next wave of DeFi, and build solutions for those who need it most. Apply for Awards up to $100K in XLM* at communityfund.stellar.org

Kaiko empowers web3 builders with comprehensive DeFi data solutions. We offer a normalized and consolidated source for DEX, lending protocol, and wallet data, covering every swap, mint, and burn across 10k+ pools. Our data is trusted by DeFi leaders including Aave, Nansen, Pyth, Chainlink, and TraderJoe.

Demex, a pioneering cross-chain derivatives DEX, introduces Perpetual Pools, a liquidity solution for perpetual markets. Experience deep liquidity, reduced spreads, and passive earnings, shaping the future of DeFi trading. Join the revolution.


DeFi

DeFi Loan Volume Climbs to Highest Since August 2022

TLDR DeFi lending activity is at a 15-month high after pushing above $6B. Aave accounts for half of outstanding loans with $3B, followed by Compound $887M.

SO WHAT The uptick in web3 lending corresponds with new year-to-date highs for leading crypto assets, indicating traders are using DeFi protocols to fund speculation. The trend follows the high-profile CeFi blowups of last year, meaning many traders are engaged in DeFi-native trading.

READ MORE: DeFi Loan Volume Climbs to Highest Since August 2022


Business

Brazil’s Crypto Rails Get Boost from Itau and Nubank

TLDR Leading Brazilian financial services providers are making moves to embrace crypto. Itau Unibanco, the country's largest bank by assets, launched a crypto trading platform supporting BTC and ETH. Nubank, a top Latin neobank, also teamed up with Circle to roll out USDC.

SO WHAT Nubank and Itau Unibanco service 195M customers throughout Latin America combined, opening the door to new users embracing web3 assets. The news coincides with great efforts from Brazilian regulators to reign in tax evasion through crypto assets.

Read More: Brazil’s Crypto Rails Get Boost from Itau and Nubank


Bitcoin

Bitcoin Miner Backed By Jack Dorsey Confirms It Will Censor Ordinal Inscriptions

TLDR Ocean Mining, a Bitcoin mining pool backed by Twitter founder, Jack Dorsey, launched Bitcoin client software censoring transactions involving Ordinal inscriptions. The pool likened the popular tokens to a Denial-of-Service attack exploiting a vulnerability in Bitcoin's code.

SO WHAT The news comes as inscription tokens surge in popularity, driving rampant congestion on Bitcoin while posting new all-time price highs. Ordinals allow the creation of fungible and non-fungible tokens on Bitcoin.

Read More: Bitcoin Miner Backed By Jack Dorsey Confirms It Will Censor Ordinal Inscriptions


Layer 2

Arbitrum Greenlights Grants To Fuel Incentives For 26 Ecosystem Projects

TLDR The Arbitrum community approved a proposal to extend its Short-Term Incentives Program grants to distribute 21.5M ARB to 26 additional projects. The grantees passed the required voting threshold to receive funding in Arbitrum's first STIP round, but the 30-most popular applicants exhausted its 50M ARB allocation.

SO WHAT Arbitum hopes to "win the L2 wars" by fostering growth across its ecosystem. While Arbitrum boasts more than 50% of Layer 2 TVL, the network is facing increasing competition from zero-knowledge-based rivals by transaction throughput.

Read More: Arbitrum Greenlights Grants To Fuel Incentives For 26 Ecosystem Projects


Markets

HNT Rallies 50% After Helium Expands Mobile Service Nationwide

TLDR Helium's HNT token rallied 50% in a single day after the project launched a mobile plan offering unlimited data, text, and talk for $20 per month leveraging T-Mobile's telecommunications infrastructure. HNT is now up 150% in 30 days.

SO WHAT Helium aims to leverage web3 incentives to offer unrivaled coverage throughout the United States. Users can earn MOBILE tokens as rewards for providing mobile hotspots expanding the range of Helium's reception.

Read More: HNT Rallies 50% After Helium Expands Mobile Service Nationwide


🔎 OUR REPORTERS ARE WATCHING


🌍 ELSEWHERE

  • Future of Solana's Hyped Saga Phone Is 'Under Internal Discussion' as Sales Figures Fail to Wow ( CoinDesk)
  • Deloitte enters the Polkadot ecosystem to issue reusable digital credentials ( CryptoSlate)
  • FTX to submit revised reorganization plan in mid-December ( Cointelegraph)