When Philipp Pieper and Timo Lehes co-founded Swarm Markets in 2017 in California and then moved to Berlin, they did a strange thing. They knocked on the door of Germanyâs financial watchdog, known as BaFin, and said, please regulate us. Thatâs not supposed to happen in DeFi. The whole idea is to break free from …
Freaked Out by DeFi? Swarm Markets Gets Licensed to Win Over Wary Investors Read More »
SharedStake, a decentralized ETH2.0 Staking-as-a-Service protocol, is in disarray after a suspected inside job. In a series of transactions on June 19 and June 23, a ârogue developerâ withdrew $500K worth of SGT, the projectâs governance token, from the teamâs allocation. These tokens were locked in a vesting contract and were meant to be unlocked …
Itâs a he said-she said scenario, and itâs about more than $74M in ETH. Stakehound, a service which gives users a synthetic asset to trade for their staked Ether, has accused Fireblocks, a digital asset security firm, of losing 38,178 ETH. The Ether, worth $74.4M at the time of writing, is staked in the ETH …
Stakehound Accuses Fireblocks of Losing $74M of ETH Read More »
It isnât often that a market player appeals to the morality of its customers to correct a mistake. But thatâs what’s unfolding this week as Alchemix Finance made traders an offer to iron out the alETH debacle that unfolded on June 16. Alchemix Finance recently launched alETH, a synthetic yield derivative that lets DeFi users …
Alchemix Asks Users to Return Funds After alETH Bug Read More »
Unsecured loans, long a missing piece in the DeFi puzzle, may finally be coming to open finance. Goldfinch, a DeFi platform that specializes in making no-collateral loans, announced an $11M raise from the likes of Andreessen Horowitz, DeFi Alliance, and other investors. Goldfinch enables borrowers to garner access to unsecured loans without having to go …
No Collateral, No Problem: Goldfinch Raises $11M to Bring Unsecured Loans to DeFi Read More »
Kwenta, an exchange interface for Synthetixâs derivatives, has declared itself an âindependent project operating outside of the Synthetix core contributors,â according to an announcement post. The project will also issue a token, KWENTA, that will be used to participate in governance and to âbootstrap the community and fuel an early development team.â Itâs a sign …
Synthetic Exchange Declares Independence with Own Token Read More »
In a sign of volatility in the blockchain-derivatives market, liquidations on the Synthetix platform skyrocketed to $19.4M, on June 11, a 30-fold jump from the next highest level on May 13, according to data from The Graph. . As worrisome as that spike might be, the liquidations were right in line with how the system …
Synthetix users will soon be able to trade proxies of the most popular US tech stocks. Synthetix, the synthetic derivatives protocol, will launch its Alnilam update tomorrow which includes three Synthetix Improvement Proposals (SIPs) and adds support for eight new assets, including tokens tracking prices for FAANG stocks ââ Facebook, Amazon, Apple, Netflix and Google …
Synthetic assets trading in decentralized finance is picking up after stock buyers were locked out of traditional markets last week. Platforms like Mirror, FTX, and Synthetix, which are live, and others still in the works like Injective Protocol, allow investors to gain access to traditional stocks and assets via tokens which replicate their price. Daily …
