In a week where the entire market was gapping down, a curious case was how Index Coop’s indexed token ETH 2x – FLI did not reflect this price action proportionally in relation to its methodology, i.e. if ETH is up X, this index token should be up 2x, while if it’s down X, the FLI…

Generating passive income using DeFi is one of the most attractive things for a newcomer. The interest rates of these protocols are often promoted to be in the range of hundred to thousands % APY, putting the bank interest rates to shame –– but that’s somewhat misleading as returns are calculated on an annual basis,…

Yearn Finance surprised the DeFi world late last year when the project announced a flurry of mergers with Cream, Pickle, SushiSwap, Akropolis, and Cover in the span of a week. While the Cover merger ended, the remaining teams continue to collaborate at top speeds enabled by the shared goal of capital efficiency, belief in Yearn’s…

In a selloff which saw Ethereum’s ETH and the DeFi Pulse Index basket of DeFi tokens dropping over 20% in an hour and more than 40% overall yesterday, DeFi protocols never stopped running and generally behaved as designed. As DeFi grows to hold $100B in assets with millions of users, yesterday was a test on…

On-Chain Markets Update by Lucas Outumuro, IntoTheBlock Following the biggest crash since Black Thursday, DeFi protocols have managed to withstand major headwinds and liquidations. While DeFi tokens dropped significantly along with the rest of the market, they sustained above their lows relative to Ether and still managed to grow in key on-chain metrics.   The DeFi…

Binance Smart Chain’s most popular lending protocol, Venus, experienced a massive string of market liquidations totaling over $200M on May 18, and Venus, itself, has been left with $100M in bad debt because of it.  The liquidations were primarily caused by the massive price swing of Venus’ governance token, XVS. The token jumped 88% from…

DeFi gateway Yearn Finance is buying its own YFI token dip.  In accordance with mandates in Yearn-Improvement-Proposal 56 (YIP-56), the protocol uses YFI staking rewards to buy back the token and “use bought back YFI for contributor rewards and other Yearn initiatives.”  As such, Yearn Finance periodically buys back its own tokens, recently announcing a…

Coinbase Wallet has a new Chrome browser extension that will be competing directly with MetaMask, DeFi’s long-standing go-to browser wallet. Coinbase Wallet, which had previously only been available on mobile devices, is Coinbase’s non-custodial Web3 Wallet geared towards DeFi users (not to be confused with the Coinbase app, which provides a consumer wallet built into…

The Sushi community voted and the protocol listened and is now introducing a token launchpad.   The launchpad, called MISO, which stands for “Minimal Initial SushiSwap Offering,” is the latest product to arise from the community governance protocol that was built around the Ethereum-based decentralized exchange SushiSwap. It will be launched on May 20. The project…

It’s bad out there — in the past 24 hours Bitcoin plunged as much as 30%, while Ether fell as much as 44%, crypto exchanges were down, price tracking websites collapsed, China crackdown news flashed, crypto Twitter panic ensued. All in all, a classic crypto sell-off. But there are signs the market is starting to…