Anchor Protocol will be targeting a 20% fixed annual yield on stablecoins—the highest fixed stablecoin rate to-date. Anchor, a newly launched low-volatility savings protocol by the Terraform Labs team, aims to achieve this 20% rate by passing borrowers’ staking rewards onto lenders, instead of charging a  borrowing rate. In other words, the borrowing cost equals…

Leverage is difficult to monitor in DeFi’s current state, but it may have found a friend in a new product called the Flexible Leverage Index (FLI). The ERC-20 token, pronounced “Fly,” created by Index Coop and DeFi Pulse, using Compound and Set Protocol, aims to help token holders manage their leveraged positions.  Managing these positions…

Aave launched a market yesterday which will allow users to deposit liquidity provider (LP) tokens from automated market makers (AMM) and use them as collateral for borrowing. The market, called AMM Market, initially accepts deposits for 14 of Uniswap’s, and two of Balancer’s LP tokens. It has over $5M currently locked in its smart contracts…

A new Ethereum proposal, EIP-3368, meant to increase miner rewards, has generated major pushback from the cryptocurrency’s community members like Aftab Hossain, who thinks the proposal distorts Ethereum’s “minimum viable issuance” monetary policy which aims to keep mining rewards as low as possible without compromising security. EIP-3368 proposes to increase the Ethereum block reward from…

Hackers compromised PancakeSwap’s and Cream Finance’s websites yesterday.  The Domain Name Service (DNS) attack modified the affected protocols’ website to display a request for the user’s seed phrase, which, if submitted, would compromise their entire account. PancakeSwap and Cream urged their users to stay away from their URLs as they scrambled to regain control of…

Social money issuer Roll was hacked for nearly $5.7M of creator tokens held in hot wallets on the platform over the weekend. Using Roll’s private keys, the hacker made off with tokens from 400+ creators on the platform. They immediately sold into Uniswap pools created around the vulnerable social tokens and transferred the ETH via…

Long, long ago, four billion MoonCats were lost in space. For years, these poor digital cats were doomed to languish in the wasteland of forgotten blockchain projects…until now. MoonCats to the Moon If you’ve followed OpenSea’s NFT ranking list over the past few days, you may have noticed a new, mysterious project called “Wrapped MoonCatsRescue”…

Uniswap continues to grow both in fundamentals and price action. In spite of a macro correction, where the Nasdaq retraced over 10% and Ether 30%, UNI and other DEX tokens continue to outperform. With the Coinbase IPO closing in and the $1.9T stimulus approved, the perfect storm may be brewing for DEX tokens.  UNI and…

A 21,069 x 21,069 pixels jpg file attached to an Ethereum token sold today for $69M in ETH at Christie’s, the world’s oldest fine art auctioneer. Of course, we’re talking about Beeple’s “Everydays: The First 5,000 Days.” The sale was not only a record for an NFT; it was also the third-most expensive work from…

Degenerative Finance has launched uSTONKS, a synthetic that tracks the ten most bullish Wall Street Bets stocks. The project is a collaboration between Yam Finance and UMA protocol, and is intended to function as a DeFi proxy for hype on Reddit’s WSB. Users who mint and provide liquidity during the first three weeks will receive…