DeFi
Cover Protocol Token Dives After Yearn Breakup
Yearn Finance and Cover are splitting ways after announcing a merger back in November. The reasons behind the break-up haven’t been disclosed, but Yearn’s creator, Andre Cronje, has made one thing clear: it’s not amicable. Lost Trust Originally, Yearn—which specializes in lending aggregation, yield generation, and insurance—had partnered with peer-to-peer insurance lending protocol Cover with…
InsurAce Raises $3M in Round Led by Alameda & HashKey
InsurAce, the Singapore-based insurance protocol, raised $3M in a token-based funding round led by Alameda Research and HashKey Capital. Investors from the project’s $1M seed round, DeFiance Capital, ParaFi Capital, Hashed and Signum Capital, also participated. The round was completed with institutional investors, including, IOSG Ventures, ImToken Ventures, LongHash Ventures, HashGlobal, Tembusu Partners, Factorial Ventures,…
DeFi Pulse Index Adds Sushi
The DeFi Pulse Index (DPI) has added Sushiswap’s Sushi token to its set of assets. DPI now includes 12 tokens, with Sushi comprising 8% of the index’s total value. The only three project’s with tokens representing higher allocations are Uniswap, Aave, and Synthetix, with 30, 19, and 13% respectively. The projects launched within a month…
Yearn Raises Dai Vault Limit as Alchemix Deposits Surge
Deposits in Yearn Finance’s DAI vault are rising after synthetic assets protocol Alchemix started using Yearn for its backend last week. Alchemix deposits quintupled to almost $130M from less than $25M on Feb. 27, when the protocol launched. The surge pushed Yearn to raise its Dai vault limit to 300M from 100M. The move shows…
DEX Project Proposes Porting SushiSwap to Solana
The SushiSwap community is now voting on a proposal to build SushiSwap on the Solana blockchain using the Solana-based Raydium DEX as a bridge. Raydium proposes “acting as a bridge and partner for SushiSwap’s expansion onto Solana,” allowing SushiSwap to access additional liquidity from Serum and leverage the chain to increase transaction fees and lower…
Brave is Planning to Build a DEX Aggregator
Brave, the company behind the open source Brave web browser that allows users to tip publishers and content creators with its first-party Basic Attention Token (BAT), is setting their sights on a lofty new project: a Brave DEX aggregator. The Brave DEX aggregator is intended to have multi-chain support featuring many assets across different blockchains,…
1Inch Expands to Binance Smart Chain
1INCH is expanding into Binance Smart Chain (BSC), one of the first major Ethereum-based DeFi projects to make the jump. “Crossing the hell of burned #Ethereum lands our hero stumbles upon the mysterious yellow portal,” the project tweeted today. BSC users will get access to all the same 1Inch functionalities that are already available on…
You Stole $37M, Now What? The $CREAM $ALPHA Exploit Unpacked
Last weekend Alpha Finance was hacked to the tune of $37m but this was a hack so specific and well-informed it was immediately assumed to have been an inside job. Have you ever wondered what happens when a hack goes down, or how a perpetrator can successfully escape with the money?
Fixed-Rate Lending Protocol HiFi Launches
The field for fixed-rate lending protocols is becoming more dense as HiFi has joined the fray. Like Notional Finance and Yield Protocol, HiFi is able to offer fixed rates by locking in a specific duration by which the loan will mature. The debt will be represented with a “yToken,” which refers to tokenized debt backed…
Vesper Comes Out of Beta and Launches VSP Token
Vesper, a DeFi investment platform, came out of beta and launched its VSP governance token. Following a successful beta period with $28M in total value locked, Vesper aims to bridge the gap between traditional DeFi users and investment industry professionals who are new to the space. Users are able to choose to deposit crypto in…
