What a wild moment.  When Grayscale Investments launched its Decentraland trust back in February it was hard to believe that a Wall Street firm with $40B in assets was firing up a vehicle to invest in one of the most exotic experiments in crypto. Created on the Ethereum blockchain six years ago, Decentraland is a…

SharedStake, a decentralized ETH2.0 Staking-as-a-Service protocol, is in disarray after a suspected inside job.  In a series of transactions on June 19 and June 23, a ‘rogue developer’ withdrew $500K worth of SGT, the project’s governance token, from the team’s allocation. These tokens were locked in a vesting contract and were meant to be unlocked…

It’s a he said-she said scenario, and it’s about more than $74M in ETH. Stakehound, a service which gives users a synthetic asset to trade for their staked Ether, has accused Fireblocks, a digital asset security firm, of losing 38,178 ETH. The Ether, worth $74.4M at the time of writing, is staked in the ETH…

In a fresh move to bootstrap Gitcoin’s DAO, holders of the protocol’s GTC token voted to add a $50K category to its grants program. Gitcoin, a funding platform that supports open source development, typically concentrates on what it calls Grant categories. These include “Infrastructure Tech” and “Dapp Tech.” But Gitcoin released its DAO last month…

Anyone in DeFi is probably familiar with the rug pull — the scam in which crypto developers abandon a project and vanish with investors’ tokens and funds. Now say hello to the “soft rug.” In this new breed of grift a project’s founders simply dump their tokens and exit a project instead of taking control…

Where’s the bottom? That’s the vital question investors are asking with ETH down almost 18% in the last 30 days, and with other major Ethereum-based DeFi tokens nosediving as much as 57% in the same time span.  Clear Deviations The one bright spot is that this week hasn’t been quite as brutal as the horrorshow…

Defying the funk that’s gripped the broader crypto market, Yield Guild Games (YGG) announced today that it will release its YGG token on July 27 on Sushiswap’s MISO launchpad. The move comes as NFTs are increasingly being utilized in gaming. Launched in October 2020, YGG is a decentralized autonomous organization (DAO) that invests in NFTs;…

Element Finance is a decentralized protocol that allows users to buy assets (BTC, ETH, USDC, DAI) at a discounted price. The protocol allows users to create liquidity and trade these discounted assets to allow buyers to earn fixed rates. The Element protocol does not require trusted intermediaries and allows for fast and efficient trading of…

This is a weekly tutorial on the most compelling opportunities in yield farming, written by our friend DeFi Dad, an advisor to The Defiant. The goal is to expose more Defiant readers to new DeFi applications and their associated liquidity mining programs. Background on Protocol: If there’s one word to describe crypto markets, it is…

It’s grim times for DeFi tokens but as prices plunge, protocol revenue remains stable.   The DeFi Pulse Index, which tracks the performance of 14 key tokens including Uniswap and Maker, has skidded 31% in the last seven days and 6.5% in just the last 24 hours, compared with a 2.1% decline for ETH from yesterday. …