Basis Cash, a fork of shuttered algorithmic cryptocurrency Basis, is touting DeFi-summer like APYs as the newly launched stablecoin – BAC – trades at $64 despite targeting a $1 peg. With ~10,000% APYs on the BAC stablecoin liquidity pools, DeFi traders rushed to provide liquidity to the project which seeks to revive Basis without the…

A new bill by US lawmakers has DeFi up in arms after proposing that all stablecoin issuers need to obtain a bank charter, which would potentially make much of DeFi trading and even running an Ethereum node, illegal.  “It shall be unlawful for any person to issue a stablecoin or stablecoin-related product, to provide any…

MakerDAO has casually reintroduced stability fees for the ~$900M worth of DAI now in circulation. Maker’s MKR holders voted to raise the protocol’s stability fee – similar to interest rates for Dai borrowers –  to 2% for ETH collateral from 0%, the highest since January. The reintroduction of stability fees sets Maker on track to…

Stablecoins are one of the fastest-growing asset types in the crypto world. The purpose of these cryptocurrencies is to track a particular peg (usually the dollar) minimizing volatility and providing a convenient unit for transacting. They have become the lifeblood of the DeFi ecosystem and may look to take over other sectors like remittance and…

Just when farmers thought food coins had run their course, perhaps the most absurd project yet is leveraging pickle memes to help mitigate stablecoin volatility. Pickle Finance, a project incentivizing liquidity on the four largest DeFi stablecoins, saw $53M in 24 hour volume this weekend as its native governance token, PICKLE, traded as high as…