Binance Smart Chain Archives - The Defiant

Harmony Opens the Throttle on Layer 1 with $300M Fund for Myriad Projects

Dive, News / By Brady Dale / September 9, 2021 September 15, 2021 / Binance Smart Chain, Bitcoin, DeFi, DeFi Tokens, ETH, Ethereum, Markets, Solana, Terra

The Layer 1 blockchain Harmony unveiled a $300M ecosystem fund today to back startups working on applications and protocols. There are many large blockchains now, but to a certain degree each one is a bit of a walled garden, Stephen Tse, Harmony’s founder told The Defiant, via a spokesperson. “Harmony was purpose-built so that developers …

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Binance Now Supports Direct Polygon Withdrawals and Deposits

Byte, News / By Owen Fernau / July 28, 2021 September 15, 2021 / Binance, Binance Smart Chain, Matic, Polygon, Sidechains

DeFi is getting easier for CeFi users. Crypto’s largest centralized exchange, Binance, now allows users to withdraw and deposit Polygon’s MATIC token directly from and onto the protocol’s proof-of-stake mainnet. Previously users needed to go through a multi-step process, either utilizing one of Binance’s two blockchains or swapping for Ethereum-based versions of MATIC when withdrawing …

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The DeFi Future is Automated

News, Research / By David Liebowitz / July 14, 2021 September 15, 2021 / automation, Binance Smart Chain, Bitcoin on Ethereum, Chainlink, DeFi, Ethereum, Flashbots, gelato, MakerDAO, Middleware

A race is under way in DeFi innovation. Established players and upstart newcomers alike are in the running. Gelato has been tinkering with use cases since 2019 and launched its production-ready V1 last July. Meanwhile, Keep3r network has been executing its own solution since late October 2020. And just last month Chainlink announced an Open …

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DeFi Traders Lost More Than $11M Across Two Weekend Hacks

Byte, News / By Dan Kahan / July 12, 2021 September 15, 2021 / Binance Smart Chain, DeFi, DeFi Tokens, Hacks

Over the weekend, DeFi traders lost more than $11M across two hacks on Binance Smart Chain (BSC). On July 10, Anyswap, a decentralized cross-chain protocol, suffered a hack worth nearly $8M of USDC and MIM (Magic Internet Money), a lesser known stablecoin. The exploit happened in the protocol’s new V3 cross-chain liquidity pools. According to …

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The Latest Scam in DeFi: ‘Soft Rugs’

Byte, News / By Owen Fernau / June 23, 2021 September 15, 2021 / Binance Smart Chain, Bitcoin, DeFi, Ethereum

Anyone in DeFi is probably familiar with the rug pull — the scam in which crypto developers abandon a project and vanish with investors’ tokens and funds. Now say hello to the “soft rug.” In this new breed of grift a project’s founders simply dump their tokens and exit a project instead of taking control …

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