dYdX  launched its cross-margined perpetuals product on a Layer 2 scaling solution powered by blockchain software developer StarkWare.  The move is significant as it highlights how some of Ethereum’s most well-known DeFi projects are migrating to scaling solutions amid rising gas costs to operate directly on Ethereum’s Layer 1. $10M Trading Volume StarkWare co-founder and…

Compound has become the number one DeFi protocol by value locked. Compound had already been leading in terms of liquidity supplied—with over $15 billion deposited at the time of writing—but lagged behind MakerDAO in TVL. And one notable wallet recently made a significant contribution to those assets. The reason for this difference boils down to the…

Yat, a project building internet identities, ran its first auction last week, selling 18 “yats,” or strings of emojis which can be used in URLs or as payment addresses. Its highest selling item, the key emoji sold for $425K according to the auction’s website.  Yat is aiming to create a “new censorship resistant internet identity…

Kyber Network, a decentralized exchange, launched a new product called a dynamic market maker (DMM), which the project says will optimize fees for liquidity providers (LPs). The first difference from automated market makers (AMM) is that while the 0.03% which Uniswap LPs receive is fixed, Kyber has introduced “dynamic fees” which increase during times of…

Coinbase, the largest US-based cryptocurrency trading venue, has opened up the books highlighting just how powerful this crypto behemoth has become. There are more Coinbase users now than there ever will be Bitcoin mined. Over 10% of the entire crypto market rests in its balance sheet. And it is raking in billions, with revenue more…

Investing in individual non-fungible tokens or NFTs is a problematic task. The NFTs that seem likely to do well as investments are selling for astonishing sums pricing out both newcomers and established collectors. For those seeking exposure to high-flying NFTs, fractionalization may well be the answer.  The Basics of NFT Fractions NFT fractions, also known…

DeFi market mechanism developer Gnosis is launching Gnosis Auction, a tool intended to solve initial price volatility for new ERC-20 tokens. Gnosis Auction combines batch auctions with limit orders. Projects launching new tokens will be able to use Gnosis Auction to set up batch auctions, wherein founders set the lowest price they’re willing to sell…

Before April 2020, Paul had never purchased cryptocurrency, let alone even heard of an NFT. Less than a year later, his NFT trading profits have netted him around 17 times the yearly minimum wage in his native Colombia (around $3,100 annually) and allowed him to buy his first house.  He isn’t the only one, either.…

Fei Protocol was one of the most anticipated project launches this year –– an algorithmic stablecoin backed by heavyweights like Andreessen Horowitz and Coinbase Ventures–– and it raised funds accordingly, attracting an eye-popping $1.3B in ether over the weekend. But it’s all spiraled down from there. The high of the sale was immediately tainted by…

I always want to give things the benefit of the doubt, try and see the positives but I’ve never come across a project that I found as hard to like as this one. So let’s give it a fair shake and try and understand why so many are getting so excited about it.