DeFi
Decentralized Finance, the ecosystem of financial applications and services built on public blockchains.
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Synthetix Governance Votes to Retire sUSD, Pay Holders in Vested SNX
Synthetix governance has moved to retire sUSD entirely under SIP-423, introduced June 12. The proposal would freeze the stablecoin contract and pay all holders back at face value in vested SNX at a conversion of four SNX per sUSD. A companion SIP-424 covering technical implementation is pending.
Micron Stock Goes On-Chain 48 Hours Before Earnings as Backpack Securities Lists $MU on Solana
Sunrise and Backpack Securities tokenized Micron Technology ($MU) stock on Solana on Monday, landing the asset on-chain 48 hours before the chipmaker's fiscal Q3 earnings report. Each MU token is backed 1:1 by a real share held in custody and redeemable through Backpack Exchange into a traditional brokerage account.
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defi.com CEO Neil May Challenges Industry: "Most DeFi Projects Are Building Privacy for Anonymity, Not Privacy for People"
As the DeFi sector rushes to integrate zero-knowledge proofs and privacy pools, defi.com CEO Neil May has issued a sharp rebuke to the industry: the vast majority of privacy solutions are solving the wrong problem.
DeFi Saver announces Reward program as part of Hyperliquid integration
DeFi Saver has officially integrated Hyperliquid, the leading perpetual futures DEX, bringing futures trading and DeFi lending into one unified interface. A 50,000 USDC two-season incentives campaign opens June 8th.
Improbable invests $2M in Otomato to scale the first portfolio-aware intelligence layer for DeFi
Venture builder Improbable has invested $2 million in Otomato, the portfolio-aware DeFi intelligence layer that monitors users' on-chain positions 24/7 and alerts them when something materially changes their risk, cost, or opportunity.
ARIQO Makes Its Bangkok Debut at SEABW, Drawing Industry Attention
On May 21, ARIQO, an onchain financial platform, made its first public appearance at Southeast Asia Blockchain Week (SEABW) in Bangkok.
Raydium Surpasses $1T in Volume Following Robinhood and Revolut Listings
Two regulated consumer finance platforms serving more than 75 million users across the US, UK, and EU have listed RAY within a month.
Synthetix Governance Votes to Retire sUSD, Pay Holders in Vested SNX
Synthetix governance has moved to retire sUSD entirely under SIP-423, introduced June 12. The proposal would freeze the stablecoin contract and pay all holders back at face value in vested SNX at a conversion of four SNX per sUSD. A companion SIP-424 covering technical implementation is pending.
Micron Stock Goes On-Chain 48 Hours Before Earnings as Backpack Securities Lists $MU on Solana
Sunrise and Backpack Securities tokenized Micron Technology ($MU) stock on Solana on Monday, landing the asset on-chain 48 hours before the chipmaker's fiscal Q3 earnings report. Each MU token is backed 1:1 by a real share held in custody and redeemable through Backpack Exchange into a traditional brokerage account.
a16z-Backed Goldfinch Finance Winds Down After Originating $100M in Loans
Warbler Labs posted an official governance proposal on June 12 to wind down Goldfinch Prime and move the protocol to maintenance mode. A Snapshot vote is passing 100% in favor. Depositors face a two-or-more-year recovery horizon as GFI trades 99.8% below its January 2022 all-time high.
Chainlink Brings Samsung, Toyota and Sony Pricing On-Chain With APAC Equities Streams
Chainlink launched APAC Equities Streams on Monday, putting live pricing for large-cap Asian companies on-chain to power equity perps, prediction markets and structured products in Asian time zones.
WSJ: $1.9M in Fake Bets Propped Up Polymarket Creator Videos
A Wall Street Journal investigation found that roughly $1.9 million in bets shown across more than 1,100 creator videos promoting Polymarket were not real, part of a paid influencer program in which creators filmed fake trades on dummy versions of the platform.