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

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

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

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

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

Rebase Tokens and Elastic Finance: They’re Not What You Think Elastic finance (EeFi) offers an exciting monetary and technological innovation, the likes of which has not been seen in the cryptocurrency market in many years. The emerging elastic finance sub-sector – led by Ampleforth – features tokens that experience dynamic supply adjustments called rebases. The…

On the 18th December, The U.S. Financial Crimes Enforcement Network (FinCEN) released a proposed rule that would instill record keeping and reporting requirements for transactions by or to a bank or money service business involving an “unhosted or otherwise covered wallet.” The 15 day comment period to respond to this proposal ended with over 65K…

In this week’s podcast episode, we interview Fred Chesnias, the CEO of Atari. The video game company now has a token and plans to release a wallet and even an exchange. The token is an erc20, which Atari hopes will get used across any game, not just its own. With the token, users will be…

Pro-Trump rioters lay an unprecedented siege on the U.S. Capitol, effectively shutting down and forcing an evacuation of the Congressional session intended to certify the electoral votes in favor of president-elect Joe Biden. One thing is clear: the U.S. government is in turmoil.  Meanwhile, the Dow Jones ended the day on a record high and…

On-Chain Markets Update by Lucas Outumuro, IntoTheBlock This Week: Ethereum’s Growth Catalysts Amidst an Overheated Market After underperforming Bitcoin in Q4, Ether’s price has managed to grow by over 60% in the first week of January. Having officially launched phase zero of ETH 2.0 in December, Ethereum has seen a wave of positive events unfold.…