TLDR: At the start of the year, I invested $1,100 in 10 DeFi applications, plus MakerDAO’s Dai Savings rate as a benchmark. The requirement was that they could give me passive income; I would just send 100 Dai into their smart contracts, never touch it again, and then hopefully have more than 100 Dai at…

DEX aggregator 1inch surprised DeFi users with a holiday treat with the release of the 1INCH governance token on Christmas Eve. 1INCH features a total supply of 1.5B tokens, which unlocks every 6 months over the course of the next 4 years. Tokens were airdropped to all wallets that made at least one trade before…

Decentralized insurance platform, Opyn, announced the release of “Gamma Protocol,” second version of its options protocol. The new upgrade aims to add capital efficiency and liquidity to the DeFi options market. Among the changes, Gamma Protocol provides mint options without collateral as long as they are burned before the end of the transaction – similar…

DeFi’s rising insurance protocol Cover Finance was exploited for $9.4M worth of user funds after a group of hackers used a faulty smart contract to mint quadrillions of COVER tokens. Cover Finance allows users to buy smart contract protection on supported DeFi protocols by buying CLAIM tokens that can be redeemed in the event of…

The Link marines are on the backfoot after last week’s flash crash to $7 pushed investors towards a risk-off stance. The cryptocurrency trades just under a pivotal $12-$13 order block, signaling that the market wipe might not be over yet. Seller’s Market Chainlink entered a sellers’ market on Dec. 23 as the altcoin succumbed to…

2020 was a big year for DeFi. The sector became the engine behind the crypto renaissance that saw BTC break through $24K and the industry’s market cap push past $680B. Decentralized applications finally started to see sustained usage and the industry took a giant step forward in realizing its macro vision for a web3 economy.…

Ripple said Monday that the SEC is planning to file a lawsuit against the company on claims that it sold unregistered securities. And while the initial reaction of many crypto enthusiasts was to side with the US regulator, the tide has begun to change. The most notabe about-face came from Messari CEO Ryan Selkis, who…

Crypto hardware wallet provider Ledger had thousands of its users’ sensitive information leaked to the public this weekend. The data breach that occurred in June was brought to light after a public hacker shared the stolen data on leaking site Raidforum, after months of it supposedly ‘selling for six figures’ on dark marketplaces. The proprietary…

Ethereum-based social network Cent has caught Twitter by storm through its new Valuables feature, allowing users to buy Tweets, minted as scarce, digital assets. “The creator of this tweet decides whether to turn their work into a limited edition, one-of-one NFT,” states the website. “Prior to them deciding, anyone can make an offer for them…

After a week of record volumes for 2020, bitcoin’s price dropped on decreasing trading volumes. Meanwhile, assets locked in DeFi are recovering since the November dip – said to be due to the Ethereum 2.0 network upgrade. Bitcoin is trading around $22,770 (Bitfinex) at the time of writing, reclaiming some of the losses from the…