DeFi News Archives - Cryptolifedigital

Avalanche (AVAX) Team Shows Reason Subnets Are Better Than Other Scalability Solutions

19May

By Cryptolifedigital3 Comments

Cryptocurrency

Avalanche (AVAX) Team Shows Reason Subnets Are Better Than Other Scalability Solutions

In 2022, Avalanche (AVAX) high-functioning programmatic blockchain integrate its Subnets methodology to scale the main network and further its functionality and usability. Here’s how Subnets addresses the most dangerous bottlenecks of dApps. User-friendly, independent, "out-of-the-box": Why are Subnets special In its recent Twitter thread, the Avalanche team decided to cover the most crucial advantages of its Subnets module. Technically, Subnets should be considered the autonomic networks connected to Avalanche's C-chain. Read Also: Poloniex To Enlist Shiba Inu Trading Pair On Its Platform. https://twitter.com/avalancheavax/status/1527308807734317059 As such, Avalanche’s Subnets can be programmed to meet the requirements of this or that DeFi protocol, on-chain...

Terra Launches Floating Interest Lending Services, Reserves Are Now at $209 Million

2May

By CryptolifedigitalNo Comments

Cryptocurrency

Terra Launches Floating Interest Lending Services, Reserves Are Now at $209 Million

The long-awaited floating interest is now officially available on Terra via the Anchor platform. According to WuBlockchain, the current interest sits at 18% with reserves reaching $209 million. Lending and borrowing services were the most famous solutions in the cryptocurrency market, and the DeFi industry specifically, as they are the perfect tools for receiving short-term exposure to a certain asset or moving funds with no need to cash out via exchanges. Read Also: Cryptocurrencies to Be Taken by One of the World's Top Luxury Gyms https://twitter.com/WuBlockchain/status/1520956967006896129 While cryptocurrency traders and investors (borrowers) get quick exposure to assets they want, lenders are eligible to receive a stable profit from giving o...

DeFi Platform Oasis.app Secures $6M in Series A Funding Round

14Apr

By Cryptolifedigital1 Comment

Blockchain

DeFi Platform Oasis.app Secures $6M in Series A Funding Round

Oasis.app, the platform enabling DeFi users to borrow and multiply their exposure to cryptocurrencies, as well as earn on their assets, has raised $6 million in funding during a Series A funding round led by Libertus Capital. Other investors, including Road Capital and high-profile angels in the DeFi space, also contributed to the funding round. The $6 million in funding was received in both cash and crypto. The funding follows the project’s previous seed of $5 million from UDHC Finance back in June 2021 when Oasis was taken out of the Maker Foundation as part of its dissolution. Read Also: Extreme fear persists as bitcoin strives to recover The Oasis. app team will utilize this latest funding to further develop their product offering, expand their team, an...

Inverse Finance hacks result in a loss of $15.6 million.

3Apr

By Cryptolifedigital1 Comment

Blockchain

Inverse Finance hacks result in a loss of $15.6 million.

The hacking incident happened yesterday 2nd April 2022 the inverse finance, an open-source protocol for lending and borrowing that runs on the Ethereum blockchain has been gotten to be $15.6 million. The team says the hack was not related to the smart contract. The attacker was able to inflate the price of the token by taking an advantage of an oracle manipulation bug, this allowed them to borrow millions in different tokens, including the Yearn.Finance(YFI) and Bitcoin (wBTC) on its anchor money market. Etherscan print https://twitter.com/InverseFinance/status/1510282040809299972 Hackers' methodology Most of the funds have been laundered with the help of tornado cash, which makes it hard for the authorities to track down the ill tokens as the Hacker had already dep...

Arbitrum Got A Scale Up Support From Yearn:Finance

27Mar

By Cryptolifedigital2 Comments

Blockchain

Arbitrum Got A Scale Up Support From Yearn:Finance

One of the most popular Defi platforms, Yearn Finance has added support for the Ethereum Layer 2 network Arbitrum. Arbitrum will be the first Layer 2 network supported by the Defi service. Arbitrum got an advantage One of the reasons for the Yearn Finance support for Arbritum is that Arbitrium could reduce gas costs( i.e. sale freights) by a factor of 10. Yearn Finance support means that the druggies could make deals on Ethereum- grounded commemoratives without moving those coins on Ethereum itself. Yearn Finance was created to supportEthereum_basedECR_20, allowing druggies to make deposits and get prices on each of the deals they made. As similar, the design says that the decision to support a Subcaste 2 network strengthens its “ first true love Ethereum. ” The design( worry Finance) say...