1Inch Network saw a gradual decrease in MAU (monthly active users) since Nov 2021 (Dune Analytics). The DeFi platform saw 94,263 MAU in July. That reflected a 52% drop from the ATH, registered nine months ago. 1Inch offers users the products: Limit Order Protocol, Aggregation Protocol, and Liquidity Protocol. Moreover, it’s deployable on several chains, … Read more
On Tuesday, Singapore’s deputy prime minister, Heng Swee Keat, told newsmen that the country is launching “project guardian.” The project will involve the launch of DeFi use cases. It would also seek to tokenize financial assets. Under this initiative, Singapore’s monetary authority (MAS) will partner with leading financial institutions and virtual asset providers. There will … Read more
Top DeFi trading platform, gains network, has announced the launch of its on-chain decentralized trading platform (gTrade), which enables users to trade the US stock market from inside the gTrade platform. Since the platform is still in the beta stage, it will only feature three US stocks on launch day ($AAPL, $GOOG, and $FB). The … Read more
America’s Consumer Financial Protection Bureau (CFPB) has brought up an old legal policy (the Dodd-Frank Act) to “curb consumer risks among non-financial institutions.” The agency claims that it lessens consumers’ risk exposure and ensures no partiality in how financial and non-financial institutions serve these consumers. Through this Dodd-Frank act, the agency can analyze crypto-related offerings … Read more
The co-founder of FTX crypto exchange, Sam Bankman-Fried, has suggested that Twitter needs decentralization. There has been lots of buzz surrounding Twitter in the light of Elon Musk’s proposal to take complete ownership of the microblogging platform. Hence, it is no wonder that crypto players are airing their opinions regarding the issue. Is a Hostile … Read more
According to reports from Inverse, the exploit has led to a staggering loss of more than $15Million in digital assets. Another day, another exploit, and this time, it is an Ethereum powered lending protocol named, Inverse Finance that has suffered a major loss in the double-digit millions worth of virtual assets. The exploit occurred on … Read more
As it has been in the last couple of months, there has been no week when there won’t be reports of a DeFi protocol or NFT project hack. This week alone, there have been three reports of hacks, and today, another DeFi hack has occurred. An Ethereum-built DeFi project, inverse finance, was hacked earlier today, … Read more
Developer rewarding protocol, Archway has managed to collect $21Million in a recent funding round that was led by many popular firms such as Hashed and CoinFund. In accordance with an announcement made by Phi Labs, the Cosmos powered protocol, Archway has raised a massive $21Million during the latest funding event. The funding event was mostly … Read more
Web3 development firm, Mysten Labs has now initiated a completely new layer-1 platform called, Sui that will help to solve several issues faced when utilizing blockchain technology. Mysten Labs, a firm that was founded by four ex-Facebook workers, based on Web3 development has now brought a fresh platform named, Sui into the market. According to … Read more
The rising popularity of the DeFi sector is forcing financial watchdogs to make efforts at researching and understanding the DeFi space and come up with appropriate regulatory policies. On Thursday, the international organization of securities commission (IOSCO) released a report detailing their opinion about DeFi, including aspects of this space that should be of significant … Read more
