The Defiant https://thedefiant.io Defi News. The Defiant curates, digests, and analyzes all the major developments in decentralized finance, so that you can stay informed and smart about the most cutting-edge and fastest-changing corner of crypto and finance. Fri, 29 Mar 2024 11:53:02 GMT https://validator.w3.org/feed/docs/rss2.html en 60 The Defiant https://thedefiant.io/favicon.png https://thedefiant.io All rights reserved 2024, The Defiant <![CDATA[Vitalik Urges Ethereum Developers To Target ‘Millions’ Of Users Post-Dencun]]> https://thedefiant.io/vitalik-urges-ethereum-developers-to-target-millions-of-users-post-dencun https://thedefiant.io/vitalik-urges-ethereum-developers-to-target-millions-of-users-post-dencun Fri, 29 Mar 2024 09:35:00 GMT Samuel Haig Vitalik Buterin, the chief scientist and co-founder of Ethereum, penned a blog post calling on developers to pivot their focus towards building new applications that could serve millions of users following the activation of its Dencun upgrade earlier this month.

Ethereum’s highly-anticipated Dencun fork went live on March 13, ushering fee reductions of up to 95% on Layer 2 networks supporting EIP-4844 — the main upgrade included in Dencun. The fee reduction also precipitated triple-digit increases in transaction volume on leading L2s.

Buterin described Dencun as the most significant Ethereum upgrade since The Merge, which transitioned the network to Proof of Stake consensus in September 2022.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Prisma Finance Suffers $12 Million Exploit]]> https://thedefiant.io/prisma-finance-suffers-usd12-million-exploit https://thedefiant.io/prisma-finance-suffers-usd12-million-exploit Thu, 28 Mar 2024 18:48:37 GMT yyctrader Prisma Finance, a DeFi protocol that issues stablecoins backed by Ethereum liquid staking and restaking tokens (LRTs), has been exploited for nearly $12 million.

First flagged by blockchain security firm Cyvers, attackers managed to make off with 3,258 ETH before the protocol was paused by the team. Prisma users are advised to revoke approvals for the affected smart contracts.

prisma tweet screenshot

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Ondo Finance To Deploy OUSG Assets In Blackrock’s BUIDL Fund]]> https://thedefiant.io/ondo-finance-to-deploy-ousg-assets-in-blackrock-s-buidl-fund https://thedefiant.io/ondo-finance-to-deploy-ousg-assets-in-blackrock-s-buidl-fund Thu, 28 Mar 2024 17:03:55 GMT yyctrader Ondo Finance, a real-world asset (RWA) protocol with $220 million in total value locked (TVL), plans to reallocate the majority of assets in its tokenized U.S. Treasuries fund OUSG into BlackRock's recently launched USD Institutional Digital Liquidity Fund (BUIDL).

Its flagship OUSG fund has $88 million in assets and provides liquid exposure to short-term U.S. Treasuries. According to the project, BlackRock's embrace of securities tokenization validates ONDO Finance's original concept of a tokenized US Treasury fund and reinforces the belief that the tokenization of traditional securities on public blockchains represents the next evolution in financial markets.

Asset management behemoth Blackrock launched BUIDL on Ethereum earlier in March, and it has already amassed $245 million of assets, making it the second-largest tokenized Treasury product, according to rwa.xyz.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Sam Bankman-Fried Was Sentenced to 25 Years in Prison]]> https://thedefiant.io/sam-bankman-fried-was-sentenced-to-25-years-in-prison https://thedefiant.io/sam-bankman-fried-was-sentenced-to-25-years-in-prison Thu, 28 Mar 2024 16:32:12 GMT Camila Russo Sam Bankman-Fried, the disgraced founder of failed crypto exchange FTX, was sentenced to 25 years in federal prison on Thursday for defrauding investors.

Bankman-Fried’s sentence was shorter than the 40 to 50 years that federal prosecutors had sought, and shorter than the maximum penalty of 110 years, but higher than the 6.5 years requested by SBF's defense lawyers.

“I was the CEO of FTX and I was responsible,” SBF said in court.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[DEGEN Launches Arbitrum Orbit-Based Layer 3 Chain]]> https://thedefiant.io/degen-launches-arbitrum-orbit-based-l3-leveraging-base https://thedefiant.io/degen-launches-arbitrum-orbit-based-l3-leveraging-base Thu, 28 Mar 2024 13:59:00 GMT Samuel Haig Degen, the recently surging memecoin, has launched its own Layer 3 network.

Announced on March 28, Degen teamed up with Syndicate, a Layer 3 infrastructure provider, to launch Degen Chain.

The chain was built on top of the Arbitrum Orbit tech stack, will settle transactions on Base — the Ethereum Layer 2 DEGEN launched on — and taps AnyTrust for data availability services. The L3 provides additional utility to the DEGEN token, with the token now functioning as the network gas token for Degen Chain.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[BlackRock Would Still Pursue Spot Ether ETF If Ethereum Cops Securities Designation]]> https://thedefiant.io/blackrock-would-still-pursue-spot-ether-etf-if-ethereum-cops-securities-designation https://thedefiant.io/blackrock-would-still-pursue-spot-ether-etf-if-ethereum-cops-securities-designation Thu, 28 Mar 2024 11:30:00 GMT Samuel Haig BlackRock, the world’s largest asset manager, has reaffirmed its commitment to bringing a spot Ether ETF to market, regardless of whether the U.S. Securities and Exchange Commission classifies Ether as a security.

In a March 27 appearance on Fox Business, Larry Fink, the CEO of BlackRock, said Ether becoming classified as a security by the SEC would not be “deleterious” to its spot ETH exchange-traded fund (ETF) ambitions.

When asked if an Ether ETF would still be on the cards in the event of a securities designation for Ether, Fink said “I think so.”

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[BlackRock’s Tokenized Treasuries Fund BUIDL Sucks Up $245M In First Week]]> https://thedefiant.io/blackrock-s-tokenized-treasuries-fund-buidl-sucks-up-usd245m-in-first-week https://thedefiant.io/blackrock-s-tokenized-treasuries-fund-buidl-sucks-up-usd245m-in-first-week Thu, 28 Mar 2024 09:36:00 GMT Samuel Haig BUIDL, the tokenized U.S. treasuries fund from BlackRock, the world’s largest asset manager, has already pulled in a quarter of a billion dollars during its first week.

On-chain data shows that $244.8 million worth of BUIDL shares are held by seven different wallets, according to Etherscan. BUIDL already ranks as the second-largest tokenized U.S. treasuries fund behind Franklin Templeton’s OnChain U.S. Government Money Fund, which has attracted $360.25 million since launching 11 months ago.

BlackRock’s rapid success has propelled the market cap of tokenized treasuries funds to an all-time high above $876 million.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Content Creators and Doomscrollers Are Getting Paid With Drakula]]> https://thedefiant.io/content-creators-and-doomscrollers-are-getting-paid-with-drakula https://thedefiant.io/content-creators-and-doomscrollers-are-getting-paid-with-drakula Thu, 28 Mar 2024 08:16:00 GMT Alp Gasimov 📺 Watch Videoimg,[object Object]

Episode Description

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Ethena Labs Announces Airdrop Date of Native Token ENA]]> https://thedefiant.io/ethena-labs-announces-airdrop-date-of-native-token-ena https://thedefiant.io/ethena-labs-announces-airdrop-date-of-native-token-ena Wed, 27 Mar 2024 22:19:10 GMT Pedro Solimano Synthetic stablecoin startup Ethena Labs has announced it is one step closer to the holy grail of internet money.

After six weeks of Ethena’s “Shard Campaign,” or points system, which saw the total supply of its stablecoin, USDe, balloon to $1.3 billion, the ecosystem is ready to begin distributing its second native token, tickered ENA.

Launching the ENA token, according to the team, marks the beginning of the decentralization of the Ethena protocol.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Arbitrum and Azuki Join Forces to Create New Anime Blockchain]]> https://thedefiant.io/arbitrum-joins-azuki-for-new-anime-web3-network https://thedefiant.io/arbitrum-joins-azuki-for-new-anime-web3-network Wed, 27 Mar 2024 21:22:01 GMT Pedro Solimano Ethereum Layer 2 network Arbitrum and NFT collection Azuki join forces to bring popular Japanese animation genre, anime, into the blockchain universe.

Named AnimeChain, the platform aims to leverage Azuki’s budding anime ecosystem, along with Arbitrum’s whopping $4.3 billion market cap, fast speed, and hundreds of dApps.

“With our anime productions, games, and physical products, we will showcase the power of a decentralized model for growing IP on AnimeChain,” wrote Azuki’s social media account on X today.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[AltLayer Launches ALT Staking]]> https://thedefiant.io/altlayer-launches-alt-staking https://thedefiant.io/altlayer-launches-alt-staking Wed, 27 Mar 2024 20:20:17 GMT yyctrader Restaked rollups provider AltLayer has launched a staking feature, allowing ALT token holders to provide economic security to AltLayer's ecosystem.

The project launched its ALT token in January with an airdrop for early adopters. ALT hit an all-time high of $0.68 earlier today, according to Coingecko. Currently changing hands for $0.58, the token commands a $730 million market capitalization.

ALT Price chart

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Mantle Launches Rewards Portal With Ethena Shards Up For Grabs]]> https://thedefiant.io/mantle-launches-rewards-portal-with-ethena-shards-up-for-grabs https://thedefiant.io/mantle-launches-rewards-portal-with-ethena-shards-up-for-grabs Wed, 27 Mar 2024 18:42:12 GMT yyctrader Mantle, the Ethereum Layer 2 network that boasts crypto’s largest liquid treasury and nearly $900 million in total value locked (TVL), has unveiled a rewards portal that enables MNT holders to earn Ethena points, called Shards.

By locking MNT through the new Rewards Station, users can earn a share of 2.5 billion Ethena Shards from the Mantle treasury that will be distributed over the next month.

Mantle Rewards Station screenshot

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[U.S. Judge Rules SEC Lawsuit Against Coinbase Can Move Forward]]> https://thedefiant.io/u-s-judge-rules-sec-lawsuit-against-coinbase-can-move-forward https://thedefiant.io/u-s-judge-rules-sec-lawsuit-against-coinbase-can-move-forward Wed, 27 Mar 2024 14:53:37 GMT Pedro Solimano A federal judge in Manhattan on Wednesday ruled the case between the U.S. Securities and Exchange Commission (SEC) and crypto exchange Coinbase can move forward.

According to the ruling by Judge Katherine Polk, Coinbase has operated as an unregistered intermediary of securities–thanks in large part to the “well-pleaded allegations” of the Complaint by the SEC.

“The Court finds that the SEC adequately alleges that Coinbase, through its staking program, engaged in the unregistered offer and sale of securities,” read the latest ruling.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Fetch, SingularityNET, and Ocean To Merge Assets and Forge Shared ‘Tokenomic Network’]]> https://thedefiant.io/fetch-singularitynet-and-ocean-to-merge-assets-and-forge-shared-tokenomic-network https://thedefiant.io/fetch-singularitynet-and-ocean-to-merge-assets-and-forge-shared-tokenomic-network Wed, 27 Mar 2024 13:30:00 GMT Samuel Haig Three top web3 projects targeting the burgeoning artificial intelligence sector are joining forces.

On March 27, Ocean Protocol, SingularityNET, and Fetch AI announced they are teaming up to merge their tokens and collaborate on research and development.

The teams describe the partnership as giving rise to a decentralized alternative to the centralized tech firms currently leading development and innovation within the AI industry.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Nomura’s Laser Digital Unveils Institutional Polygon Fund Embracing Liquid Staking]]> https://thedefiant.io/nomura-s-laser-digital-unveils-institutional-polygon-fund-embracing-liquid-staking https://thedefiant.io/nomura-s-laser-digital-unveils-institutional-polygon-fund-embracing-liquid-staking Wed, 27 Mar 2024 12:59:00 GMT Samuel Haig Laser Digital, a digital finance firm subsidiary of the Japanese banking giant, Nomura, is deepening its web3 operations with the launch of an institutional fund offering exposure to Polygon.

Announced on March 27, Laser Digital is teaming up with TruFin, a lending and payments company to launch the Laser Digital Polygon Adoption Fund, an institutional investment product providing exposure to Polygon’s MATIC token and staking yields.

Laser Digital said the fund is designed to cater to large legacy financial entities, including sovereign wealth funds, private asset managers, and institutional funds.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Analysts Believe Munchables’ $63M Exploit Was Internally Engineered]]> https://thedefiant.io/analysts-believe-munchables-usd63m-exploit-was-internally-engineered https://thedefiant.io/analysts-believe-munchables-usd63m-exploit-was-internally-engineered Wed, 27 Mar 2024 05:20:00 GMT Samuel Haig Munchables, a prominent web3 game and farm on the Blast Layer 2 network, has suffered a $63 million hack, igniting debate about whether the Blast team should roll back the malicious transaction.

The incident took place on March 26, with Munchables tweeting that it is actively tracking the flow of funds stolen in the exploit. Two-thirds of Munchables’ total value locked (TVL) was stolen as a result of the incident, with the protocol’s TVL sliding from $96.2 million to $34 million, according to DeFi Llama.

ZachXBT, a popular web3 analyst and sleuth, identified the attacker’s wallet on-chain. The address currently holds 17,412.65 Ether.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Major Crypto Exchange KuCoin Faces U.S. Criminal Charges]]> https://thedefiant.io/major-crypto-exchange-kucoin-faces-u-s-criminal-charges https://thedefiant.io/major-crypto-exchange-kucoin-faces-u-s-criminal-charges Tue, 26 Mar 2024 20:29:20 GMT yyctrader KuCoin, a prominent global cryptocurrency exchange, and two of its founders face criminal charges from U.S. authorities, sparking concerns over the safety of user funds held on the platform.

Chun Gan and Ke Tang are the two founders facing charges. They are accused of conspiring to operate an unlicensed money transmission business and violating the Bank Secrecy Act by willfully failing to maintain an adequate anti-money laundering (AML) program. Authorities allege that under their leadership, KuCoin flouted U.S. AML laws to become one of the world's largest cryptocurrency exchanges.

Kucoin ranks fifth by trading volume among centralized exchanges, according to Coingecko, and processed over $2 billion of trades in the past 24 hours.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[DEX Trading Volumes on BNB Chain Flip Ethereum and Solana]]> https://thedefiant.io/dex-trading-volumes-on-bnb-chain-flip-ethereum-and-solana https://thedefiant.io/dex-trading-volumes-on-bnb-chain-flip-ethereum-and-solana Tue, 26 Mar 2024 18:06:46 GMT yyctrader As the rivalry between the Ethereum and Solana communities heats up, BNB Chain quietly beat both in terms of trading volume.

Daily trading volume on BNB Chain, the Layer 1 blockchain backed by Binance, surpassed $2.2 billion on March 24, accounting for over a quarter of the total volume on decentralized exchanges tracked by DeFillama.

That puts it ahead of Ethereum and Solana, which have been battling for the top spot amid the ongoing memecoin mania on the latter, for the first time since May 2023.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[SEC Faces Lawsuit Seeking To Exempt Airdrops From Securities Classification]]> https://thedefiant.io/sec-faces-lawsuit-seeking-to-exempt-aidroops-from-securities-classification https://thedefiant.io/sec-faces-lawsuit-seeking-to-exempt-aidroops-from-securities-classification Tue, 26 Mar 2024 13:52:00 GMT Samuel Haig The U.S. Securities and Exchange Commission is facing a lawsuit challenging its ability to treat airdropped tokens as securities.

On March 25, The DeFi Education Fund (DEF), a web3 advocacy organization, announced it had teamed up with Beba Collection, a Texas-based apparel company, to sue the SEC to try and get a U.S. court to rule that the BEBA token does not comprise a securities investment contract.

Beba, which airdropped its BEBA token to Unisocks and early Base Name holders, has not received a complaint from the SEC but is pre-emptively seeking a court ruling protecting its token from securities classification. The SEC has notoriously pursued an aggressive campaign of regulation-by-enforcement targeting digital asset issuers in recent years, claiming that digital assets comprise securities assets.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Badger Launches 0% Interest Bitcoin Lending Protocol eBTC]]> https://thedefiant.io/badger-launches-0-interest-bitcoin-lending-protocol-ebtc https://thedefiant.io/badger-launches-0-interest-bitcoin-lending-protocol-ebtc Tue, 26 Mar 2024 12:59:00 GMT Samuel Haig Badger Finance, a Bitcoin-focused DeFi collective, has launched a 0% interest Bitcoin lending protocol leveraging Lido’s liquid staking token, stETH.

Badger deployed its eBTC protocol and token on March 26, allowing users to borrow a yield-bearing “synthetic Bitcoin-pegged stablecoin” using Ether as collateral.

Despite charging 0% interest to borrowers, Badger will generate revenue by staking collateral assets via Lido’s stETH liquid staking token and taking a 50% cut of the rewards. Borrowers will earn the remaining 50% of rewards, rendering eBTC a yield-bearing asset.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[RWA Tokens Rally 81% In One Week As Institutions Dive Deeper Into On-Chain Finance]]> https://thedefiant.io/rwa-tokens-rally-81-in-one-week-as-institutions-dive-deeper-into-on-chain-finance https://thedefiant.io/rwa-tokens-rally-81-in-one-week-as-institutions-dive-deeper-into-on-chain-finance Tue, 26 Mar 2024 11:12:00 GMT Samuel Haig Real-world assets (RWAs) are on fire, with RWA governance tokens surging as institutions explore new use cases for on-chain finance.

The combined capitalization of RWA protocols’ governance tokens jumped 28% in 24 hours and 81% over the past seven days to tag $8 billion, according to CoinGecko.

Six of the top 15 RWA tokens posted triple-digit gains in the past week. Ondo (OND) is the leading RWA token with a 123% rally and $1.3 billion market cap, followed by Polymesh (POLYX) with $643 million after growing 211%, and Mantra (OM) at $586 million after posting the sole weekly loss among the top 67 RWA assets with a 13% pullback.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Trade Base Memecoins Like A Pro (3 DEGEN TIERS)]]> https://thedefiant.io/trade-base-memecoins-like-a-pro-3-degen-tiers https://thedefiant.io/trade-base-memecoins-like-a-pro-3-degen-tiers Tue, 26 Mar 2024 07:48:00 GMT Jack Dunham 📺 Watch Videoimg,[object Object]


Base meme coins aren’t just trending, they're exploding! Today, we're taking you through the Base ecosystem’s massive revival to uncover what all the hype is really about, which memecoins people are excited about, where to find them, and how to buy them!

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Memecoin Frenzy Arrives On Base As Tokens' Market Cap Crosses $1 Billion]]> https://thedefiant.io/memecoin-frenzy-arrives-on-base-as-tokens-market-cap-crosses-usd1-billion https://thedefiant.io/memecoin-frenzy-arrives-on-base-as-tokens-market-cap-crosses-usd1-billion Mon, 25 Mar 2024 20:23:31 GMT Pedro Solimano Move over Solana, it’s time for Base to have some fun.

Memecoins are taking hold of Base, the Ethereum Layer 2 network developed by crypto exchange Coinbase. The market capitalization of memecoins on Base grew by 477% to $1.02 billion in the past 24 hours, according to Coingecko.

Solana memecoins’ market cap is up 17% to $6.4 billion, while the broader Meme category is up 12% to $62 billion, in the same time.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[DEGEN Rallies On Increasing Adoption By Base Ecosystem Projects]]> https://thedefiant.io/degen-rallies-on-increasing-adoption-by-base-ecosystem-projects https://thedefiant.io/degen-rallies-on-increasing-adoption-by-base-ecosystem-projects Mon, 25 Mar 2024 19:43:25 GMT yyctrader Activity on Base, the Ethereum Layer 2 network developed by Coinbase, shows no signs of slowing down, with weekly transactions hitting an all-time high of nearly 10 million.

As investors look to position themselves for ‘Base season,’ DEGEN, a token that was initially airdropped to active users of the web3 social network Farcaster, is leading the charge with an astonishing 1,500% rally in the past 30 days to a market capitalization of $212 million.

DEGEN Price chart

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Bridging East and West in Crypto | Erica Kang of KryptoSeoul]]> https://thedefiant.io/bridging-east-and-west-in-crypto-or-erica-kang-of-kryptoseoul https://thedefiant.io/bridging-east-and-west-in-crypto-or-erica-kang-of-kryptoseoul Mon, 25 Mar 2024 18:27:00 GMT Tegan Kline 🎙️Listen to Interview

📺 Watch Video

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Aave Closes In On Zero Token Incentives While Borrowing Surges]]> https://thedefiant.io/aave-closes-in-on-zero-token-incentives-while-borrowing-surges https://thedefiant.io/aave-closes-in-on-zero-token-incentives-while-borrowing-surges Mon, 25 Mar 2024 17:54:39 GMT Pedro Solimano Aave is about to achieve the Holy Grail of tokenomics as the token incentives on the Decentralized Finance (DeFi) lending platform are about to drop to zero while activity continues to climb.

According to TokenTerminal, monthly token incentives – additional yield in AAVE tokens that originate from the Aave Reserve, used primarily to incentivize specific actions – have been downtrending since late 2021. AAVE token incentives are down 37% from their peak in Dec. 2023 of $335,000 to $214,000 in March 2024.

Incentives spiked 137% in the past 30 days, however, reaching $225,000.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Polygon zkEVM Resumes Operation Following Major Outage]]> https://thedefiant.io/polygon-zkevm-resumes-operation-following-major-outage https://thedefiant.io/polygon-zkevm-resumes-operation-following-major-outage Mon, 25 Mar 2024 16:16:00 GMT Samuel Haig Polyogn zkEVM, the flagship scaling solution from Polygon, is back to normal operation after suffering a major outage.

Polygon reported the issue on Saturday night, attributing the issue to a sequencer fault following a Layer 1. The team emphasized that the issue was contained to zkEVM and that all other Polygon networks continued to function without issue.

The project followed up 27 hours later to announce that Polygon zkEVM had resumed its usual operations after intervention from its Emergency Council. Any further system updates will be subject to a 10-day timelock before activation after the network exited emergency state mode.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Spot Bitcoin ETFs Suffer Worst Week Yet With $890 Million In Outflows]]> https://thedefiant.io/spot-bitcoin-etfs-suffer-worst-week-yet-with-usd890-million-in-outflows https://thedefiant.io/spot-bitcoin-etfs-suffer-worst-week-yet-with-usd890-million-in-outflows Mon, 25 Mar 2024 12:30:00 GMT Samuel Haig Last week hosted record outflows from spot Bitcoin ETFs, with inflows to newly launched funds failing to offset heavy outflows from the recently converted Grayscale Bitcoin Trust amid heavy selling from Gemini.

According to data from Soso Value, spot Bitcoin ETFs shed $889.75 million worth of assets during an unprecedented five consecutive days of outflows from March 18 through March 22. March 19 hosted a record outflow of $326.2 million, with outflows steadily declining down to $51.6 million on March 22.

Spot Bitcoin ETFs Suffer Worst Week Yet With $890 Million In Outflows

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Our Most Read Stories This Week: Solana Memecoin & Starter Guide, BlackRock Tokenized Fund, Vitalik Interview]]> https://thedefiant.io/our-most-read-stories-this-week-solana-memecoin-and-starter-guide-blackrock-tokenized-fund https://thedefiant.io/our-most-read-stories-this-week-solana-memecoin-and-starter-guide-blackrock-tokenized-fund Sun, 24 Mar 2024 18:05:32 GMT The Defiant Team These are the top 10 most read stories on The Defiant during the week of March 18:

  1. Solana Memecoin BOME Hits $600 Million Market Cap In Less Than Two Days
  2. EtherFi Airdrop Announced For March 18

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[DEX Screener To Review Moderation Policy Amid Flurry of Racist Memecoins]]> https://thedefiant.io/dex-screener-to-review-moderation-policy-amid-flurry-of-racist-memecoins https://thedefiant.io/dex-screener-to-review-moderation-policy-amid-flurry-of-racist-memecoins Fri, 22 Mar 2024 21:13:05 GMT Pedro Solimano A proliferation of racist tokens has pushed DEX Screener, a real-time DeFi token analytics platform, to review its token profile moderation policy.

“We'll be reviewing our token profile moderation policy in the coming days,” said the platform’s X account, adding that it, “won't be the gatekeepers of what happens on-chain, but we're definitely not here to spread hate.”

The announcement, made late Friday, March 22, came as a number of unsavory token profiles began popping up on the platform–most of which are surfacing on Solana.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Polymarket Traders Expect Major Airdrops to Launch Before June 30 ]]> https://thedefiant.io/polymarket-traders-expect-major-airdrops-to-launch-before-june-30 https://thedefiant.io/polymarket-traders-expect-major-airdrops-to-launch-before-june-30 Fri, 22 Mar 2024 20:10:50 GMT Pedro Solimano Who’s ready for some free money?

According to Polymarket, traders are betting that four projects will deliver airdrops to their users before June 30. These include Parcl, Swell Network, Tensor, and Ethena, all with more than 90% odds.

Layer 2 network Blast showcases the top odds, with 97% of traders betting it will airdrop tokens to its users before the end of June, but the bet is still under review.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Is The Ethereum Foundation Under Investigation?]]> https://thedefiant.io/is-the-ethereum-foundation-under-investigation https://thedefiant.io/is-the-ethereum-foundation-under-investigation Fri, 22 Mar 2024 18:09:00 GMT Camila Russo This week's headlines

0:00 Intro

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Worldcoin Addresses Privacy Concerns With New Personal Custody Feature]]> https://thedefiant.io/worldcoin-addresses-privacy-concerns-with-new-personal-custody-feature https://thedefiant.io/worldcoin-addresses-privacy-concerns-with-new-personal-custody-feature Fri, 22 Mar 2024 17:10:17 GMT Pedro Solimano Controversial eyeball-scanning project Worldcoin announced today that it will offer users the option to maintain control over their personal information.

Dubbed Personal Custody, the implementation means that any data generated on the silver orb will remain on a person’s mobile device. That includes images, metadata, and derived data, empowering users to delete the information if they wish.

“This approach gives you control over the flow of this data,” said the team in today’s press release. Worldcoin calls the new feature an evolution in data custody recommended by privacy experts.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Base Activity Soars As TVL Crosses $900 Million]]> https://thedefiant.io/base-activity-soars-as-tvl-crosses-usd900-million https://thedefiant.io/base-activity-soars-as-tvl-crosses-usd900-million Fri, 22 Mar 2024 15:11:32 GMT yyctrader Activity on Base, the Ethereum Layer 2 network developed by Coinbase, has surged since March 14, with the blockchain processing more than one million transactions per day for the last week.

Base Daily Transactions chart

The spike in activity is probably due to memecoin traders and bots, according to Michael Silberling, a data analyst at Optimism Labs.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Vitalik Says Ethereum Must Achieve Mainstream Adoption Within Five Years]]> https://thedefiant.io/vitalik-says-ethereum-must-achieve-mainstream-adoption-within-five-years https://thedefiant.io/vitalik-says-ethereum-must-achieve-mainstream-adoption-within-five-years Fri, 22 Mar 2024 13:37:00 GMT Samuel Haig Vitalik Buterin, Ethereum’s co-founder and chief scientist, believes the next five years will be critical in determining whether the network can achieve mainstream adoption.

Speaking during an interview at the ETHTaipei conference on March 20, Buterin predicted that the next half-decade will prove whether Ethereum is ready for “real-world” adoption.

Buterin said stablecoins have emerged as the leading use case for crypto in recent years. Indeed, stable tokens facilitate frictionless payments, protection from price fluctuations and inflation for users residing in countries with volatile fiat currencies, and a popular on-and-off ramp to the broader web3 ecosystem.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Top Ethereum L2s Ready To Ship Major Upgrades]]> https://thedefiant.io/ethereum-s-l2s-sector-readies-to-ship-new-upgrades https://thedefiant.io/ethereum-s-l2s-sector-readies-to-ship-new-upgrades Fri, 22 Mar 2024 10:05:00 GMT Samuel Haig The Layer 2 sector is booming, with many of Ethereum's leading scaling solutions preparing to ship major upgrades.

On March 20, Starknet announced a new roadmap for 2024, prioritizing increasing throughput and performance over the coming months.

Starknet will introduce transaction parallelization with its 0.13.2 version upgrade in Q2 2024. The network will simultaneously execute transactions, speeding up both finality and throughput.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[AI Gaming Blockchain Nim Network Launches Airdrop]]> https://thedefiant.io/ai-gaming-blockchain-nim-network-launches-airdrop https://thedefiant.io/ai-gaming-blockchain-nim-network-launches-airdrop Thu, 21 Mar 2024 17:01:49 GMT yyctrader Nim Network, an upcoming blockchain focused on AI gaming, has kicked off its Genesis Rolldrop, with 9% of the NIM token supply to be airdropped to eligible users.

Of the 90 million NIM reserved for the airdrop, 50 million tokens can be claimed by Dymension (DYM) stakers. Nim Network is the first ‘RollApp’ to deploy on Dymension, a Cosmos-based modular blockchain platform.

Eligible users can claim their tokens here. Similar to the Celestia and Dymension airdrops, the tokens will be available in users’ wallets once the chain goes live.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Crypto Advocates Prepare to Battle Washington's Anti-Crypto Army]]> https://thedefiant.io/crypto-advocates-prepare-to-battle-washington-s-anti-crypto-army https://thedefiant.io/crypto-advocates-prepare-to-battle-washington-s-anti-crypto-army Thu, 21 Mar 2024 15:08:30 GMT Pedro Solimano For years, crypto has lived on the fringe. But now it wants a piece of the political pie.

Economically, crypto has been expanding its footprint in the mainstream, a trend turbocharged by the spot Bitcoin ETFs. Culturally, memecoins like Dogecoin are household names, whereas others are ready to take over Las Vegas.

But 2024 being an election year in the United States, crypto advocates have their eyes on another state: Washington D.C.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Daily Transaction Fees On Solana Spike 1,000% Since January]]> https://thedefiant.io/daily-transaction-fees-on-solana-spike-1-000-since-january https://thedefiant.io/daily-transaction-fees-on-solana-spike-1-000-since-january Thu, 21 Mar 2024 12:35:57 GMT Pedro Solimano Traders on Solana are witnessing a wild surge in fees as the memecoin frenzy carries on.

Daily transaction fees have soared from $361,000 on Dec. 31 to an all-time high of $4.95 million on March 17, according to DefiLlama. Transaction costs dropped to $3.29 million today, however, which still represents a near 10X from less than three months ago.

The Layer 1 network’s revenue has also skyrocketed, soaring from $180,000 on the last day of 2023 to a peak of $2.47 million on March 17. Today, the network raked in $1.64 million, a slight drop from the previous day.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[The Open Network Unveils $124M Incentives Program Amid Soaring Growth]]> https://thedefiant.io/the-open-network-unveils-usd124m-incentives-program-amid-soaring-growth https://thedefiant.io/the-open-network-unveils-usd124m-incentives-program-amid-soaring-growth Thu, 21 Mar 2024 12:24:00 GMT Samuel Haig The TON Foundation, the organization building The Open Network (TON), the blockchain previously known as Telegram Open Network, is launching a program distributing nine figures worth of incentives to developers and users.

Announced on March 20, the foundation will distribute 30 million of its native Toncoin tokens to active users through its newly announced Open League campaign. With Toncoin currently trading for $4.13, the rewards on offer are worth roughly $124 million.

The Open League will take place over four month-long seasons starting April 1. The first season will offer roughly $15 million worth of tokens to developers that meet key performance indicators and top a competitive leaderboard. Approximately $22 million will also be up for grabs for dApp users in the form of quests, airdrops, and incentives for liquidity providers.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Polygon Ships Napoli Upgrade Including First Rollup Improvement Proposal]]> https://thedefiant.io/polygon-ships-napoli-upgrade-including-first-rollup-improvement-proposal https://thedefiant.io/polygon-ships-napoli-upgrade-including-first-rollup-improvement-proposal Thu, 21 Mar 2024 09:24:00 GMT Samuel Haig The Polygon PoS sidechain executed its Napoli hard fork, becoming the first network to support RIP-7212.

Napoli introduced support for three major upgrades included in Ethereum’s recent Dencun hard fork, spanning EIP-1153: Transient Storage, EIP-6780: SELFDESTRUCT, and EIP-5656: memory copying instruction.

EIP-1153 improves the efficiency of block space usage, while EIP-6780 limits the scope of the selfdestruct opcode, and EIP-5656 reduces the technical overhead associated with copying memory.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Crypto Markets Rally Back Despite Sustained Spot Bitcoin ETF Outflows]]> https://thedefiant.io/crypto-markets-rally-back-despite-sustained-spot-bitcoin-etf-outflows https://thedefiant.io/crypto-markets-rally-back-despite-sustained-spot-bitcoin-etf-outflows Thu, 21 Mar 2024 07:54:00 GMT Samuel Haig Digital assets bounced back with strength following a week of downward momentum, with more than half of the top 100 cryptocurrencies posting double-digit gains over the past 24 hours.

Bitcoin (BTC) last changed hands for $67,200, marking a 10% recovery from yesterday’s low of $60,950, according to CoinGecko.

Spot Bitcoin ETFs continue to suffer outflows on March 20 despite the market recovery, with $385.6 million exiting the Grayscale Bitcoin Trust driving a daily outflow of $261.6 million for the sector overall, according to Soso Value. The Invesco Galaxy Bitcoin ETF also hosted an outflow of $10.2 million.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Why Would Someone Want To Pay With Crypto Anyway? ]]> https://thedefiant.io/why-would-someone-want-to-pay-with-crypto-anyway https://thedefiant.io/why-would-someone-want-to-pay-with-crypto-anyway Wed, 20 Mar 2024 20:06:18 GMT Alexander Mamasidikov The original cryptocurrency, bitcoin, was introduced to the world as the first "peer-to-peer electronic cash system,'' a currency to be used for digital payments. Yet, crypto is forever fielding criticisms that it is not designed for payments, that it's too expensive, slow, and difficult-to-use to ever take hold as a way people buy coffee or pay for their mortgage. Another argument is that we already have credit cards and cash, so why do we need crypto for payments?

The reality is, as easy as it is to swipe a credit or debit card, not everyone can get one, and cash is not borderless. It costs money to convert from one currency to the other and send money to other countries.

At this point in crypto's development, cryptocurrencies are an ideal solution to these pain points within traditional finance, but it's not that crypto is likely to entirely replace TradFi. Instead, traditional payment rails like the credit and debit card system will use cryptocurrencies instead of fiat.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Ethereum Foundation Receives Enquiry From Unidentified Government Entity]]> https://thedefiant.io/ethereum-foundation-receives-subpoena-from-unidentified-government-entityethereum-foundation https://thedefiant.io/ethereum-foundation-receives-subpoena-from-unidentified-government-entityethereum-foundation Wed, 20 Mar 2024 16:57:16 GMT Pedro Solimano Ethereum seems to have entered the “then they fight you” phase.

The Ethereum Foundation is under investigation by an unidentified government agency. The news was first reported by Coindesk.

A Github commit dated Feb. 26 removed a Warrant Canary — used by organizations typically wary of government surveillance to assure users there have been no secret legal requests — along with a note that read, “We have received a voluntary enquiry from a state authority that included a requirement for confidentiality."

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Institutions Accumulate Bitcoin Despite Recent Market Volatility]]> https://thedefiant.io/institutions-accumulate-bitcoin-despite-recent-market-volatility https://thedefiant.io/institutions-accumulate-bitcoin-despite-recent-market-volatility Wed, 20 Mar 2024 15:07:00 GMT Samuel Haig Institutional entities continue to accumulate Bitcoin despite the recent market volatility.

BTC tagged a low of $61,500 earlier today, marking a 16.4% retracement from last week’s all-time high of around $73,580, according to CoinGecko. Bitcoin has since rebounded to $63,122, with BTC down 13.5% in seven days.

Bitcoin traded lower on exchanges suffering from thin liquidity, with BTC wicking down to a violent low of $8,900 on BitMEX’s spot markets. The move was driven by market sell orders worth 400 BTC, with BitMEX stating it is investigating “unusual activity” involving large sell orders on its BTC/USDT spot market.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Ethereum Layer 2 Adoption Trends High After Dencun Upgrade]]> https://thedefiant.io/ethereum-layer-2-adoption-trends-high-after-dencun-upgrade https://thedefiant.io/ethereum-layer-2-adoption-trends-high-after-dencun-upgrade Wed, 20 Mar 2024 13:18:00 GMT Samuel Haig Ethereum’s highly-anticipated March 13 Dencun fork has bolstered Layer 2 adoption, with active addresses and transaction volume both trending near all-time highs following the upgrade.

According to data from L2beat, combined daily Layer 2 throughput tagged its second highest level on record at roughly 136.5 transactions per second (TPS) on March 16, just a few days after Dencun’s execution.

The current all-time high of 149.5 TPS was set in mid-December amid a short-lived bubble of skyrocketing inscription activity across Layer 2 networks.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Immutable and Polygon Labs Unveil $100M Blockchain Gaming Fund]]> https://thedefiant.io/immutable-and-polygon-labs-unveil-usd100m-blockchain-gaming-fund https://thedefiant.io/immutable-and-polygon-labs-unveil-usd100m-blockchain-gaming-fund Tue, 19 Mar 2024 22:00:00 GMT Samuel Haig Immutable, Polygon Labs, and King River Capital have teamed up to launch a $100 million web3 gaming fund.

Announced on March 19, the Inevitable Games Fund (IGF) aims to identify high-growth opportunities within the web gaming sector for investors. IGF is a privately offered fund available to “certain types of progressional and sophisticated investors” capped at $100 million.

King River Capital will be tasked with heading the fund’s investment process, while Polygon and Immutable will lean on their experience and expertise in the GameFi sector.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[ BlackRock Tokenizes Fund for Accredited Investors on Ethereum Blockchain]]> https://thedefiant.io/blackrock-tokenizes-fund-for-accredited-investors-on-ethereum-blockchain https://thedefiant.io/blackrock-tokenizes-fund-for-accredited-investors-on-ethereum-blockchain Tue, 19 Mar 2024 20:18:15 GMT Camila Russo BlackRock, the world's largest asset manager, tokenized a recently-launched fund on the Ethereum blockchain.

The BlackRock USD Institutional Digital Liquidity Fund, which has the token ticker BUIDL, was launched 15 days ago on Ethereum, according to Etherscan data, but was incorporated last year, a filing to the U.S. Securities and Exchange Commission shows.

Securitize Markets, a company specializing in tokenized securities, is likely the broker of the fund.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Layer 1s Outperform as Bitcoin Takes a Breather]]> https://thedefiant.io/layer-1s-outperform-as-bitcoin-takes-a-breather https://thedefiant.io/layer-1s-outperform-as-bitcoin-takes-a-breather Tue, 19 Mar 2024 19:02:31 GMT yyctrader Bitcoin and Ether are down 10% and 15%, respectively, from last week’s highs, but some Layer 1 ecosystems continue to forge ahead.

FTM has rallied 17% in the past 24 hours to a new local high, trading above a dollar for the first time since April 2022. Tokens issued to Fantom-based decentralized exchanges SpookySwap, Equalizer and SpiritSwap have soared 50% or more in that span.

FTM Price chart

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Renowned Crypto Trader GCR Acquires DogWifHat NFT for $4 Million]]> https://thedefiant.io/renowned-crypto-trader-gcr-acquires-dogwifhat-nft-for-usd4-million https://thedefiant.io/renowned-crypto-trader-gcr-acquires-dogwifhat-nft-for-usd4-million Tue, 19 Mar 2024 15:54:02 GMT yyctrader The original picture that inspired the WIF memecoin was auctioned off as a non-fungible token (NFT) and sold for millions.

The NFT was sold for just under 1,211 ETH ($4 million) after a bidding war on the NFT marketplace Foundation.

Renowned Crypto Trader GCR Acquires DogWifHat NFT for $4 Million

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Nomura Subsidiary Laser Digital Tests USDC Transfer With Keyring Network]]> https://thedefiant.io/nomura-subsidiary-laser-digital-tests-usdc-transfer-with-keyring-network https://thedefiant.io/nomura-subsidiary-laser-digital-tests-usdc-transfer-with-keyring-network Tue, 19 Mar 2024 13:00:53 GMT Pedro Solimano The institutions are here.

Institutional crypto firm Keyring Network has facilitated the transfer of a wrapped version of the USDC stablecoin for Laser Digital, a subsidiary of Japanese banking giant Nomura.

The move signals broader institutional experimentation with permissioned blockchains and crypto assets such as stablecoins, said Mélodie Lamarque, co-founder of Keyring.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Solana Starter Guide in 2024]]> https://thedefiant.io/solana-starter-guide-in-2024 https://thedefiant.io/solana-starter-guide-in-2024 Tue, 19 Mar 2024 09:23:00 GMT Jack Dunham 📺 Watch Video

img,[object Object]

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Thorchain Loans Spike With Weekly Flows Of $100M]]> https://thedefiant.io/thorchain-loans-spike-with-weekly-flows-of-usd100m https://thedefiant.io/thorchain-loans-spike-with-weekly-flows-of-usd100m Tue, 19 Mar 2024 03:02:00 GMT Pedro Solimano Traders are rushing to take out zero-interest loans on Thorchain after the cross-chain liquidity protocol lifted its collateral limit.

There is now $120 million in ETH and BTC collateral on the protocol, compared with $36 million before the cap was lifted.

On March 8, Thorchain announced it would burn 60 million of the protocol’s native RUNE token, worth $500 million at today’s price. The move opened up an additional $160 million worth of collateral capacity for ETH and BTC — or roughly 2,000 BTC and 36,000 ETH.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Fidelity Adds Staking To Spot Ethereum ETF Application ]]> https://thedefiant.io/fidelity-adds-staking-to-spot-ethereum-etf-application https://thedefiant.io/fidelity-adds-staking-to-spot-ethereum-etf-application Mon, 18 Mar 2024 22:25:29 GMT Pedro Solimano Fidelity, the financial services giant managing $4.5 trillion in assets under management, has amended its spot Ethereum ETF application to include its intention to mobilize the prospective fund’s Ether for staking.

According to an updated filing submitted with the U.S. Securities and Exchange Commission (SEC) on March 18, Fidelity aims to stake a portion of the proposed exchange-traded fund’s Ether via a third-party staking provider.

“The Sponsor may, from time to time, stake a portion of the fund’s assets through one or more trusted staking providers, which may include an affiliate of the Sponsor,” the updated filing said. “In consideration for any staking activity in which the Fund may engage, the Fund would receive certain network rewards of ether tokens, which may be treated as income to the Fund as compensation for services provided.”

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Solana Memecoin SLERF Accidentally Burns $10 Million]]> https://thedefiant.io/solana-memecoin-slerf-accidentally-burns-usd10-million https://thedefiant.io/solana-memecoin-slerf-accidentally-burns-usd10-million Mon, 18 Mar 2024 17:12:32 GMT Pedro Solimano The team behind Solana-based memecoin SLERF has accidentally burned $10 million worth of tokens, causing an uproar among early investors.

“Guys I f*#ked up,” wrote the project’s X account early this morning. “I burned the LP and the tokens that were set aside for the airdrop. Mint authority is already revoked so I can not mint them. There is nothing I can do to fix this. I am so f*#king sorry,” they said.

Despite a 60% drop on the news, the SLERF token is up nearly 2,000% in the past 24 hours and commands a market capitalization of $250 million. The token has seen a whopping $2 billion in volume traded, according to Dexscreener.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Funding the Future Onchain: Empowering Open Source & Public Goods with Gitcoin]]> https://thedefiant.io/funding-the-future-onchain-empowering-opensource-and-public-goods-with-gitcoin https://thedefiant.io/funding-the-future-onchain-empowering-opensource-and-public-goods-with-gitcoin Mon, 18 Mar 2024 15:37:00 GMT Camila Russo 🎙️Listen to Interview

📺 Watch Video

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[FTM Rockets As Fantom’s Sonic Upgrade Looms]]> https://thedefiant.io/ftm-rockets-as-fantom-s-sonic-upgrade-looms https://thedefiant.io/ftm-rockets-as-fantom-s-sonic-upgrade-looms Mon, 18 Mar 2024 13:44:00 GMT Samuel Haig Fantom is mounting an impressive comeback amid anticipation for its Sonic upgrade.

Fantom’s FTM token is up 104% over the past 30 days, having posted a 23-month high of $0.974 on March 16, according to CoinGecko.

FTM Rockets As Fantom’s Sonic Upgrade Looms

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[EtherFi Airdrop Announced For March 18]]> https://thedefiant.io/etherfi-airdrop-announced-for-march-18 https://thedefiant.io/etherfi-airdrop-announced-for-march-18 Mon, 18 Mar 2024 11:54:00 GMT Samuel Haig EtherFi, the leading liquid restaking protocol, has announced that its highly-anticipated airdrop will take place on March 18.

On March 16, the project announced that eETH users, EtherFi points holders, EtherFans NFT holders, and solo Ethereum stakers will be able to claim a portion of 6% of ETHFI’s total supply from March 18, with claims closing 90 days later. EtherFi's total supply is capped at one billion tokens.

The launch of EtherFi’s token and DAO will coincide with the asset debuting on the Binance centralized exchange, with Binance Launchpool farmers also receiving 2% of ETHFI’s supply. Roughly 11.5% of the token’s total supply is set to enter supply at launch.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Our Most Read Stories This Week: Dogwifhat Goes to Vegas, Retail is Coming , AI Tokens, Dencun Upgrade]]> https://thedefiant.io/our-most-read-stories-this-week-dogwifhat-goes-to-vegas-retail-investors-ai-tokens-propkeys https://thedefiant.io/our-most-read-stories-this-week-dogwifhat-goes-to-vegas-retail-investors-ai-tokens-propkeys Sat, 16 Mar 2024 19:04:01 GMT The Defiant Team These are the top 10 most read stories on The Defiant during the week of March 11:

  1. DogWifHat Community Raises $690K To Put Meme On Vegas Sphere
  2. Retail Investors Are Cautiously Returning To Crypto

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[It’s Raining Runestones As Bitcoin Ordinals Project Launches Airdrop]]> https://thedefiant.io/it-s-raining-runestones-as-bitcoin-ordinals-project-launches-airdrop https://thedefiant.io/it-s-raining-runestones-as-bitcoin-ordinals-project-launches-airdrop Fri, 15 Mar 2024 20:54:34 GMT Pedro Solimano Ready to get stoned?

The highly anticipated Runestones airdrop began yesterday, causing a flurry of excitement across the Ordinals ecosystem.

Runestones are being distributed in batches of 1,400, and as of this writing, the project has sent more than 90% of them to a total of 112,383 eligible wallets. According to Ordinals Wallet, there are 90,623 owners, with 102,201 already in users wallets.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Solana Memecoin BOME Hits $600 Million Market Cap In Less Than Two Days]]> https://thedefiant.io/solana-memecoin-bome-hits-usd600-million-market-cap-in-less-than-two-days https://thedefiant.io/solana-memecoin-bome-hits-usd600-million-market-cap-in-less-than-two-days Fri, 15 Mar 2024 19:07:16 GMT yyctrader Solana memecoin season shows no signs of slowing down amid the ongoing crypto market volatility.

The latest sensation is Book of Meme (BOME), which started out as an innocuous presale by meme artist and NFT creator Darkfarms three days ago and has since rocketed to a market capitalization of more than $600 million.

The Book of Meme

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Crypto Retraces This Week’s Gains as Traders Take Profits]]> https://thedefiant.io/crypto-retraces-this-week-s-gains-as-traders-take-profits https://thedefiant.io/crypto-retraces-this-week-s-gains-as-traders-take-profits Fri, 15 Mar 2024 17:14:43 GMT Pedro Solimano Crypto traders are taking profit after Bitcoin marked a new record high and crossed $72,000 earlier this week.

Bitcoin is trading for $67,704, a 4.7% drop on the day, retracing its entire gains for the week.

Crypto Retraces This Week’s Gains as Traders Take Profits

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Axie Infinity’s Ronin Chain Sees Renaissance As Gamers Return]]> https://thedefiant.io/axie-infinity-s-ronin-chain-sees-renaissance-as-gamers-return https://thedefiant.io/axie-infinity-s-ronin-chain-sees-renaissance-as-gamers-return Fri, 15 Mar 2024 16:00:15 GMT yyctrader Ronin, a Layer 1 blockchain built as a companion network for the play-to-earn game Axie Infinity, is experiencing a resurgence as the Web3 gaming sector heats up again – and this time, it’s mostly not about Axie.

Once written off after a $600 million exploit in March 2022, Ronin is now the dominant gaming chain, attracting hundreds of thousands of daily active users. As of February, Ronin commands a 29% market share of blockchain gaming, according to Footprint Analytics – higher than BNB Chain and Polygon combined.

Web3 Gaming Market Share chart

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[AI Token NetMind Tanks After Early Miner Suffers Hack]]> https://thedefiant.io/ai-token-netmind-tanks-after-early-miner-suffers-hack https://thedefiant.io/ai-token-netmind-tanks-after-early-miner-suffers-hack Fri, 15 Mar 2024 15:21:52 GMT Pedro Solimano AI token NetMind plummeted earlier today after a wallet belonging to an early-stage miner sold large amounts of NMT.

“The NetMind team is aware of the recent situation that has caused a mass selloff of NMT and is actively working on mitigation,” wrote the team today on ‘X,’ pointing to an early miner who mined 440,000 NMT.

NetMind’s team added that they “do not see a long-term risk here” and that the platform itself is not compromised.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Zerion Announces L2 Subsidizing Transaction Fees]]> https://thedefiant.io/zerion-announces-l2-subsidizing-transaction-fees https://thedefiant.io/zerion-announces-l2-subsidizing-transaction-fees Fri, 15 Mar 2024 13:16:00 GMT Samuel Haig Zerion, a web3 smart account provider, announced plans to launch a Layer 2 network that won’t charge transaction fees to users.

Announced on March 14, Zerion’s forthcoming Zero Chain will subsidize gas fees for users, taking advantage of the massive reduction in Layer 2 transaction costs following the activation of Ethereum’s Dencun fork and EIP-4844 upgrade, also known as proto-danksharding.

EIP-4844 replaced gas-intensive calldata with binary large objects (blobs). Calldata previously accounted for between 73% and 90% of Layer 2 transaction costs, with proto-danksharding driving L2 fee reductions of between 50% and 98%.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Crypto Bull Market Sparks Surge in DeFi Rates]]> https://thedefiant.io/crypto-bull-market-sparks-surge-in-defi-rates https://thedefiant.io/crypto-bull-market-sparks-surge-in-defi-rates Fri, 15 Mar 2024 10:24:00 GMT Camila Russo This week's headlines

0:00 Intro

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Transaction Fees On Layer 2 Plummet Post Dencun]]> https://thedefiant.io/transaction-fees-on-layer-2-plummet-post-dencun https://thedefiant.io/transaction-fees-on-layer-2-plummet-post-dencun Fri, 15 Mar 2024 08:12:20 GMT Samuel Haig Layer 2 networks that support EIP-4844 are already enjoying massive scalability gains following the activation of Ethereum’s long-awaited Dencun upgrade on March 13.

Data from Dune Analytics shows average transaction fees on leading Layer 2 networks Arbitrum, Optimism, Base, and ZkSync Era falling by 87%, 69%, 88%, and 63% respectively in the past 48 hours.

Dune Analytics also shows the median price of swaps on Uniswap, the leading decentralized exchange, plummeting 96% from $1.19 to just $0.05 following Dencun’s activation.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Beyond Blobs: Diving Into Dencun’s Overlooked Upgrades]]> https://thedefiant.io/beyond-blobs-diving-into-dencun-s-overlooked-upgrades https://thedefiant.io/beyond-blobs-diving-into-dencun-s-overlooked-upgrades Thu, 14 Mar 2024 15:40:00 GMT Samuel Haig Ethereum’s long-awaited Dencun hard fork went off without a hitch on March 13, ushering in a new era for Layer 2 scalability. But while all eyes were on the upgrade that reduced transaction costs for the chain’s scaling networks, there were many other key Ethereum Improvement Proposals (EIPs).

“[Dencun] might be the single fork where we ship the most individual EIPs or features,” said Tim Beiko, an Ethereum Foundation developer, during a March 13 live stream.

The main upgrade included in the Dencun fork was EIP-4844, also known as proto-danksharding, which significantly reduces fees on Ethereum Layer 2 networks by replacing gas-intensive calldata — which previously accounted for between 70% and 90% of L2 transaction costs — with lightweight binary large objects (blobs).

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Thetanuts Finance Launches Leveraged Liquid Restaking ]]> https://thedefiant.io/thetanuts-finance-launches-leveraged-liquid-restaking https://thedefiant.io/thetanuts-finance-launches-leveraged-liquid-restaking Thu, 14 Mar 2024 15:31:40 GMT Pedro Solimano Thetanuts Finance, an onchain options protocol launched in September 2021, has partnered with Pendle Finance. Users can “Zap” their PT-eETH tokens and deposit them into the Thetanuts Finance v3 Lending Market.

They then borrow ETH, depositing it into an ETH Call (ETH-C) Basic Vault, where it generates additional option premiums but takes on short volatility risk. The $ETH-C is then boosted within the Thetanuts Finance v3 Lending Market, generating additional lending interest that’s returned to users.

Ethereum’s restaking ecosystem has been on a tear, with total value locked surging 500% to $10 billion in the past thirty days. The Thetanuts - Pendle partnership is yet another example of how DeFi applications are finding ways to layer points and leverage together as they try to entice traders with higher yields.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[EtherFi Expedites Roadmap, Will Launch Token In Coming Days]]> https://thedefiant.io/etherfi-expedites-roadmap-will-launch-token-in-coming-days https://thedefiant.io/etherfi-expedites-roadmap-will-launch-token-in-coming-days Thu, 14 Mar 2024 10:22:00 GMT Samuel Haig EtherFi, the leading liquid restaking protocol, has moved its token generation one month ahead of schedule, with Binance announcing plans to list the token on March 18.

On March 12, Binance announced that the ETHFI token would become the first 49th project onboarded to its Launchpool platform.

The campaign will distribute 2% of the ETHFI token’s maximum supply to users who stake either Binance’s BNB token or the FDUSD stablecoin over four days starting March 14. BNB stakers will receive 80% of available tokens, with 20% going to FDUSD stakers.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[DogWifHat Community Raises $690K To Put Meme On Vegas Sphere]]> https://thedefiant.io/dogwifhat-community-raises-usd690k-to-put-meme-on-vegas-sphere https://thedefiant.io/dogwifhat-community-raises-usd690k-to-put-meme-on-vegas-sphere Wed, 13 Mar 2024 20:25:36 GMT Pedro Solimano Las Vegas is gearing up to get memed.

The community behind Solana-based memecoin, Dogwifhat (WIF), has exceeded its $650,000 goal to put the image of the token on the famous Las Vegas sphere.

“Wif on sphere,” as the campaign is called, has raised over $691,000 in USDC.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Aevo Airdrop Leaves Some Farmers Fuming as Token Debuts at $3B Valuation]]> https://thedefiant.io/aevo-airdrop-leaves-some-farmers-fuming-as-token-debuts-at-usd3b-valuation https://thedefiant.io/aevo-airdrop-leaves-some-farmers-fuming-as-token-debuts-at-usd3b-valuation Wed, 13 Mar 2024 19:35:47 GMT Pedro Solimano Decentralized derivatives platform Aevo has launched its eponymous token and airdrop for early users.

Five criteria had to be met for eligibility, including volume trading during the “farm boost” phase, boosted volume traded, aeUSD balance, and ongoing usage of Aevo.

According to the team, they attempted to take a balanced approach to reward OG users, collateral “experimentoors,” and genuine trading activity. Additionally, non-Aevo derivative traders have been given ‘farm boosts’ that will let them earn future AEVO rewards at an accelerated rate if they trade on the platform.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Ethereum Activates Dencun Upgrade, Ushering New Era For Layer 2 Scalability]]> https://thedefiant.io/ethereum-activates-dencun-upgrade-ushering-new-era-for-layer-2-scalability https://thedefiant.io/ethereum-activates-dencun-upgrade-ushering-new-era-for-layer-2-scalability Wed, 13 Mar 2024 13:14:16 GMT Samuel Haig Ethereum’s long-awaited Dencun hard fork is now complete, significantly bolstering the scalability of its booming Layer 2 ecosystem.

Dencun went live on March 13, paving the way for a significant reduction in the costs associated with transacting on Ethereum L2s by replacing gas-intensive calldata with lightweight Binary Large Objects (blobs) via EIP-4844 — also known as proto-danksharding.

Unlike calldata, blobs do not compete with Ethereum transactions for gas and are pruned from the blockchain after roughly 18 days, dramatically improving data availability and lowering costs for Layer 2 rollups. Domothy, an Ethereum Foundation researcher, noted that several protocols will plan to host blob data indefinitely moving forward during a March 13 live-stream.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Tokenized Real Estate Project PropyKeys Announces Public Launch]]> https://thedefiant.io/tokenized-real-estate-project-propykeys-announces-public-launch https://thedefiant.io/tokenized-real-estate-project-propykeys-announces-public-launch Wed, 13 Mar 2024 12:00:35 GMT yyctrader PropyKeys, a tokenized real estate project deployed on Base, an Ethereum Layer 2 network, has opened its doors to the public.

Anyone can now use the PropyKeys app to mint digital addresses corresponding to physical properties, ranging from home addresses to global landmarks. The project aims to enhance property deed security by shifting from paper-based to digital systems on the blockchain, thereby combating deed fraud and streamlining the process of buying and selling homes.

PropyKeys is a part of the Propy ecosystem, whose PRO token is up 45% in the past month but remains 85% below its 2018 high.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[MakerDAO To Commence Endgame Overhaul This Summer]]> https://thedefiant.io/makerdao-to-commence-endgame-overhaul-this-summer https://thedefiant.io/makerdao-to-commence-endgame-overhaul-this-summer Wed, 13 Mar 2024 11:13:00 GMT Samuel Haig MakerDAO is gearing up to accelerate the adoption of its Endgame overhaul.

On March 12, Rune Christensen, the co-founder of MakerDAO, published a rough timeline for the phases of Endgame’s adoption. The document says MakerDAO will commence rolling out a new brand, stablecoin, governance token, website and app, and yield farming products in quick succession beginning in Summer 2024.

Spark, MakerDAO’s DAI-focused Aave fork, will also introduce new products alongside a governance token and DAO as part of Endgame.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Grayscale Files Application For Mini Bitcoin ETF]]> https://thedefiant.io/grayscale-files-application-for-mini-bitcoin-etf https://thedefiant.io/grayscale-files-application-for-mini-bitcoin-etf Tue, 12 Mar 2024 19:58:20 GMT yyctrader Digital asset manager Grayscale has filed an application with the SEC for a new spinoff product called the Bitcoin Mini Trust. If approved, it will use the $BTC ticker.

SEC Form S-1

The filing outlines plans to distribute a portion of GBTC shares to seed the Bitcoin Mini Trust. GBTC is Grayscale’s flagship fund with over $27 billion in assets.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Thorchain Thunders Back As Trading Volumes Hit All-time Highs]]> https://thedefiant.io/thorchain-thunders-back-as-trading-volumes-hit-all-time-highs https://thedefiant.io/thorchain-thunders-back-as-trading-volumes-hit-all-time-highs Tue, 12 Mar 2024 16:19:53 GMT yyctrader Thorchain, a decentralized liquidity protocol that facilitates native asset swaps across blockchains, is making a comeback after a string of hacks and a 96% plunge from its all-time high.

RUNE has nearly doubled since the team burned 60 million RUNE tokens last week to boost its lending capacity by $100 million, which accounted for 12% of the total supply. Its total value locked (TVL) climbed 45% to $507 million in that time.

Overall, it’s a remarkable comeback for a veteran DeFi protocol founded in 2018 with much fanfare that fell out of favor after being plagued by a series of exploits.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Trade Solana Memecoins Like A Pro (3 DEGEN TIERS)]]> https://thedefiant.io/trade-solana-memecoins-like-a-pro-3-degen-tiers https://thedefiant.io/trade-solana-memecoins-like-a-pro-3-degen-tiers Tue, 12 Mar 2024 15:05:00 GMT Jack Dunham 📺 Watch Videoimg,[object Object]

Today we’re exploring the exciting world of Solana memecoins in three levels of degeneracy. The Solana Ecosystem has captured the imagination of creators and traders around the world with an explosive mix of humor, creativity, and of course speculation. Remember the wild rise of Dogecoin last cycle? Its peak market cap of $90 billion gives us a hint of the potential awaiting in the current memecoin frenzy.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Starknet To Roll Out Suite Of Fee-Saving Measures Alongside Dencun]]> https://thedefiant.io/starknet-to-roll-out-suite-of-fee-saving-measures-alongside-dencun https://thedefiant.io/starknet-to-roll-out-suite-of-fee-saving-measures-alongside-dencun Tue, 12 Mar 2024 11:45:00 GMT Samuel Haig Starknet, a leading Ethereum Layer 2, will introduce upgrades designed to significantly reduce transaction fees alongside Ethereum’s long-awaited Dencun upgrade.

Announced on March 12, Starknet will implement a wave of fee-saving measures in parallel to Ethereum’s March 13 Dencun upgrade through its 0.13.1 version. The Starknet Foundation said the new version will “dramatically reduce" transaction fees on the network by driving down the “data availability costs, fixed costs, and marginal costs” associated with Starknet transactions.

Starknet estimates the upgrades will double the fee savings expected to be unlocked through Dencun. While not all of the fee optimizations will be deployed on March 13, the Starknet Foundation will begin subsidizing the difference between current fees and their expected price once all of the upgrades have been activated in the future.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Wyoming’s New DAO Act Gets ‘Two Thumbs Up’]]> https://thedefiant.io/wyoming-s-new-dao-act-gets-two-thumbs-up https://thedefiant.io/wyoming-s-new-dao-act-gets-two-thumbs-up Mon, 11 Mar 2024 19:41:46 GMT Pedro Solimano A landmark bill passed in Wyoming, expanding the already friendly legal waters for decentralized autonomous organizations (DAOs) in the state.

The new bill, which was approved on March 7, will provide a legal framework for DAOs to enter into legal contracts with third parties, allow them to pay taxes, and provide the organizations with limited liability–a term that offers protection for shareholders and stakeholders.

The act will go into effect on June 1.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Starknet Foundation Creates Gaming Committee With $120M Budget]]> https://thedefiant.io/starknet-foundation-creates-gaming-committee-with-usd120m-budget https://thedefiant.io/starknet-foundation-creates-gaming-committee-with-usd120m-budget Mon, 11 Mar 2024 18:17:21 GMT Pedro Solimano In a bid to boost its gaming ecosystem, the team behind Ethereum scaling solution Starknet has created a dedicated Gaming Committee. The committee’s roadmap is divided into three phases: analysis, strategy, and execution.

Starknet’s announcement spotlights GameFi, which remains one of the hottest narratives in crypto. As Bitcoin continues to make all-time highs, the GameFi sector showcases the highest 24-hour growth, climbing 30% to a total market cap of $32 billion.

The Starknet Foundation has allocated 50 million STRK tokens – trading today at $2.48, a 5.1% jump on the day – to fund proposals.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Bitcoin Goes Into Price Discovery, Skyrockets Past $72,000]]> https://thedefiant.io/bitcoin-goes-into-price-discovery-skyrockets-past-usd72-000 https://thedefiant.io/bitcoin-goes-into-price-discovery-skyrockets-past-usd72-000 Mon, 11 Mar 2024 16:13:57 GMT Pedro Solimano Another day brings another all-time high.

Bitcoin surged as high as $72,211 on Monday, according to Coingecko, the highest ever. That represents a 3.6% jump on the day.

Technical analysts say at these prices the largest cryptocurrency has entered “price discovery,” meaning there are no data points to predict its next resistance levels.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[AI Tokens Outperform As Crypto Markets Continue To Post New Highs]]> https://thedefiant.io/ai-tokens-outperform-as-crypto-markets-continue-to-post-new-highs https://thedefiant.io/ai-tokens-outperform-as-crypto-markets-continue-to-post-new-highs Mon, 11 Mar 2024 15:03:00 GMT Samuel Haig Tokens from projects seeking to position themselves as part of the booming artificial intelligence sector have been soaring.

Archived data from CoinGecko shows the combined capitalization of AI tokens surging nearly 800% from $3.18 billion on Oct. 28 to $28.2 billion today.

Four of the five largest AI tokens by market cap from four months ago remain ranked among the sector's top five. Render (RNDR), the sector’s top token, is up 412% over the same period, while Fetch.ai (FET) rallied 708%, SingularityNET (AGIX) gained 456%, and Akash Network (AKT) jumped 540%.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[MakerDAO Hikes Fees More Than 140% To Prevent ‘DAI Demand Shock’]]> https://thedefiant.io/makerdao-hikes-fees-more-than-140-to-prevent-dai-demand-shock https://thedefiant.io/makerdao-hikes-fees-more-than-140-to-prevent-dai-demand-shock Mon, 11 Mar 2024 12:45:00 GMT Samuel Haig MakerDAO has increased the stability fees associated with minting its DAI stablecoin by between around 140% and 150% to protect against the token suffering a possible demand shock.

The move was implemented on March 10 following the passing of an “accelerated” executive proposal on March 8. The proposal approved hiking the fees associated with minting DAI against ETH, stETH, WBTC, and via its Spark money market protocol from between 6.41% and 7.18% to between 15% and 17.25%.

The yield paid on DAI deposits via the DAI Stability Rate (DSR) also increased from 5% to 15% alongside the fee hikes to encourage users to hold the token, while the delay on governance vote implementation reduced from 48 hours to 16 hours.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Exploring the Ex-Apple Engineer Led Sui Network]]> https://thedefiant.io/exploring-the-ex-apple-engineer-led-sui-network https://thedefiant.io/exploring-the-ex-apple-engineer-led-sui-network Mon, 11 Mar 2024 10:54:00 GMT Camila Russo 🎙️Listen to Interview

📺 Watch Video

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Uniswap Governance Rejects Proposal Enabling DAO To Make Fee Changes]]> https://thedefiant.io/uniswap-governance-shoots-down-fee-switch-proposal-again https://thedefiant.io/uniswap-governance-shoots-down-fee-switch-proposal-again Mon, 11 Mar 2024 09:41:00 GMT Samuel Haig The Uniswap community has rejected a governance proposal seeking to empower the DAO to make changes to its fee mechanism.

The voting period for the proposal closed on March 9, with 59.9% of mobilized UNI cast in opposition. The proposal sought to allow the DAO to make changes to Uniswap’s fee mechanism for increased flexibility and potential future upgrades to the protocol.

The proposal was shot down two days after a separate proposal to enable protocol revenue collection was passed with borderline unanimous support.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Our Most Read Stories This Week: BTC Tops 70k, Retail Returning, BTC ETFs Climb Ranks, Wormhole Airdrop]]> https://thedefiant.io/our-most-read-stories-this-week-btc-tops-70k-retail-returning-btc-etfs-climb-ranks-wormhole https://thedefiant.io/our-most-read-stories-this-week-btc-tops-70k-retail-returning-btc-etfs-climb-ranks-wormhole Sun, 10 Mar 2024 19:02:04 GMT The Defiant Team These are the top 10 most read stories on The Defiant during the week of March 4:

  1. Retail Investors Are Cautiously Returning To Crypto
  2. Bitcoin Funds Climb Commodity ETF Rankings As BlackRock’s AUM Surpasses $10B

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Is SocialFi Dead?]]> https://thedefiant.io/is-socialfi-dead https://thedefiant.io/is-socialfi-dead Sat, 09 Mar 2024 08:31:23 GMT Sergey Shelag SocialFi is like a Shakespearean play: idealistic, momentous, and ahead of its time, yet never out of favor among the masses. Seemingly dystopian at times, the thought of monetising your social network, even if it’s just a few hundred followers, equals financial freedom for many — the financialization of people, as some like to call it.

In this regard, 2023 marked a rather successful year for SocialFi with significant investments. But while the interest seems real, the numbers do not necessarily reflect the sector’s true state. The sharp drop in users recently across major platforms, including on the runaway hit of 2023 Friend.Tech, has put proponents of SocialFi on the backfoot.

Present trends make it seem that SocialFi platforms are being visited more for airdrops and other one-way incentives than actual social interactions. This is, in turn, affecting the haloed loop of user interest, engagement, and retention that makes Web2 social media a dopamine stash.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[How Solana Is Winning in the Crypto Bull Market]]> https://thedefiant.io/how-solana-is-winning-in-the-crypto-bull-market https://thedefiant.io/how-solana-is-winning-in-the-crypto-bull-market Fri, 08 Mar 2024 22:04:00 GMT Camila Russo

img,[object Object]

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Retail Investors Are Cautiously Returning To Crypto]]> https://thedefiant.io/retail-investors-are-cautiously-returning-to-crypto https://thedefiant.io/retail-investors-are-cautiously-returning-to-crypto Fri, 08 Mar 2024 21:26:45 GMT Pedro Solimano Is retail back?

Yes, but not entirely.

According to K33 Research, 90-day website traffic to crypto exchanges increased 45% in the past quarter compared to the previous one. Similarly, web traffic to data aggregation sites such as Coingecko and Coinmarketcap is up 66%.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Injective Launches inEVM Compatible with Solana and Cosmos]]> https://thedefiant.io/injective-launches-inevm-compatible-with-solana-and-cosmos https://thedefiant.io/injective-launches-inevm-compatible-with-solana-and-cosmos Fri, 08 Mar 2024 19:20:26 GMT Pedro Solimano Injective Protocol, a Layer 1 blockchain geared toward trading applications, has released inEVM, a rollup designed to allow cross-chain composability. It is touted as achieving true compatibility between Ethereum, Cosmos, and Solana.

The release also leverages some of the newer technologies in the space, including data availability protocol Celestia, data oracle Pyth network, rollup provider Hyperlane, and LayerZero Labs.

Injective’s INJ token is one of the stars of the ongoing crypto rally. It has surged fivefold since October 2023 and is up nearly 30% in the past month.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Crypto Markets Reverse Sharply After Bitcoin Tags $70,000]]> https://thedefiant.io/crypto-markets-reverse-sharply-after-bitcoin-tags-usd70-000 https://thedefiant.io/crypto-markets-reverse-sharply-after-bitcoin-tags-usd70-000 Fri, 08 Mar 2024 18:25:38 GMT Pedro Solimano Bitcoin broke through its previous record high and traded above $70,000 early Friday.

The milestone was short-lived, however. BTC dropped from an intraday high of $70,168 to $67,045 in a matter of minutes – highlighting the notorious volatility that characterizes the asset.

BTC Price chart

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<![CDATA[Daily DApp Users Surges To New High In February As DEX Activity Soars]]> https://thedefiant.io/daily-dapp-users-surges-to-new-high-in-february-as-dex-activity-soars https://thedefiant.io/daily-dapp-users-surges-to-new-high-in-february-as-dex-activity-soars Fri, 08 Mar 2024 16:28:00 GMT Samuel Haig Daily active dApp users surged to a new all-time high for the second consecutive month in February, according to a new report from DappRadar.

According to the March 7 report, an average of 6.7 million wallets interacted with decentralized applications each day last month. The activity beat out January’s previous record of 5.3 million by 26.4%.

GameFi projects continued to boast the largest share of dApp users, with blockchain games hosting a 20% monthly increase to 1.87 million active wallets, equating to 28% of daily dApp users in February. Three of the four most popular dApps represented the gaming sector, with MotoDEX, Sweat Economy, and Hot Game hosting 6.7 million, 3.75 million, and 1.82 million monthly users respectively.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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daily-dapp-users-surges-to-new-high-in-february-as-dex-activity-soars
<![CDATA[Bitcoin Smashes Through All-Time High, Tops $70,000]]> https://thedefiant.io/bitcoin-smashes-through-all-time-high-tops-usd70-000 https://thedefiant.io/bitcoin-smashes-through-all-time-high-tops-usd70-000 Fri, 08 Mar 2024 16:02:55 GMT Pedro Solimano Bitcoin has been skyrocketing off the back of spot Bitcoin ETF flows, and within days found its footing after dropping more than 10% on March 5, when it broke its previous all-time high.

It reached as high as $70,045 today and is trading just below $70,000 on Bistamp, at the time of writing.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Aptos Removes Bridge Limits In Cross-Chain Push]]> https://thedefiant.io/aptos-removes-bridge-limits-in-cross-chain-push https://thedefiant.io/aptos-removes-bridge-limits-in-cross-chain-push Fri, 08 Mar 2024 15:00:00 GMT Samuel Haig Aptos is seeking to bolster its cross-chain interoperability with other networks, with the team removing the daily transaction limit on its Stargate bridge.

Announced on March 8, the move enables unlimited activity for bridge users and is intended to promote the development of cross-chain DeFi protocol supporting Aptos. Alongside enabling unlimited bridge transactions, Aptos also published educational resources and tutorials aimed at developers interested in building multichain applications leveraging the bridge.

The Stargate Aptos bridge was built on top of LayerZero, a leading cross-chain communication protocol.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Memecoins Outperform as Crypto Does its Best to Button Up After Bitcoin ETF]]> https://thedefiant.io/memecoins-outperform-as-crypto-does-its-best-to-button-up-after-bitcoin-etf https://thedefiant.io/memecoins-outperform-as-crypto-does-its-best-to-button-up-after-bitcoin-etf Fri, 08 Mar 2024 05:05:39 GMT yyctrader As crypto careens into a new bull market, its advocates will be hoping detractors finally see that blockchain tech has the potential to disrupt industries from finance to social media.

However, based on the best-performing sectors in crypto, those naysayers could be forgiven for refusing to see the light.

Are the best-performing tokens in the Layer 2s category, key for scaling blockchain for mainstream usage? Perhaps they’re in the red-hot intersection between crypto and artificial intelligence? Or maybe those projects on the technical frontier of restaking, modular blockchains or DePIN.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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memecoins-outperform-as-crypto-does-its-best-to-button-up-after-bitcoin-etf
<![CDATA[Game Theory, Market Cycles, Investment Mentality, Mantle Network with Jordi Alexander]]> https://thedefiant.io/game-theory-market-cycles-investment-mentality-mantle-network-with-jordi-alexander https://thedefiant.io/game-theory-market-cycles-investment-mentality-mantle-network-with-jordi-alexander Thu, 07 Mar 2024 21:49:00 GMT Alp Gasimov 📺 Watch Videoimg,[object Object]

Episode Description

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game-theory-market-cycles-investment-mentality-mantle-network-with-jordi-alexander
<![CDATA[SOL Surges As Pantera Looks To Buy Tokens From FTX Estate]]> https://thedefiant.io/sol-surges-as-pantera-looks-to-buy-tokens-from-ftx-estate https://thedefiant.io/sol-surges-as-pantera-looks-to-buy-tokens-from-ftx-estate Thu, 07 Mar 2024 17:21:56 GMT yyctrader Solana’s native cryptocurrency, SOL, is surging on news that crypto-focused hedge fund Pantera Capital is reportedly raising money to purchase SOL tokens from the estate of bankrupt crypto exchange FTX.

According to Bloomberg, Pantera aims to raise money for the Pantera Solana Fund, which can potentially purchase up to $250 million worth of SOL tokens from the FTX estate.

SOL is up nearly 15% in the past 24 hours.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Sushi Community Decries Core Team Deleting Governance Forum and Ignoring Snapshots]]> https://thedefiant.io/sushi-community-decries-core-team-deleting-governance-forum-and-ignoring-snapshots https://thedefiant.io/sushi-community-decries-core-team-deleting-governance-forum-and-ignoring-snapshots Thu, 07 Mar 2024 15:14:00 GMT Samuel Haig Drama is once again enveloping Sushi, with community members accusing the project’s core team of deleting its governance forum and ignoring snapshot votes amid pushback against it financial management.

On Feb. 29, Naim Boubziz, a former core contributor to Sushi, a veteran decentralized exchange, tweeted that the project’s current core team had deleted its governance forum amid pushback against its use of treasury funds.

Boubziz followed up on March 4, flagging that the Sushi Operations Team had deleted four snapshot governance proposals calling for the forum to be restored in addition to greater transparency regarding the use of treasury funds. Bouziz added that the team had restricted the creation of new Snapshot votes to core team members only.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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<![CDATA[Floor Prices Of Top NFT Collections Crash As Cryptocurrencies Rally]]> https://thedefiant.io/floor-prices-of-top-nft-collections-crash-as-cryptocurrencies-rally https://thedefiant.io/floor-prices-of-top-nft-collections-crash-as-cryptocurrencies-rally Thu, 07 Mar 2024 12:48:00 GMT Samuel Haig NFTs are underperforming the broader crypto markets amid the latest leg of bullish momentum posted by ETH and BTC.

Token listings on Blur, the leading NFT marketplace, show five of the top six collections by daily volume suffering losses of between 20% and 37% when measured in ETH over the past seven days.

Notable losers include the Bored and Mutant Ape Yacht Clubs (BAYC and MAYC), the second and sixth-largest collection by market cap, with losses of 20% and 30% respectively, in addition to the third-ranked Pudgy Penguins slumping 30%, and tenth-ranked Azuki dropping 31.6%.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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