DeFi

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DeFi, short for decentralized finance, represents a shift in the financial sector by leveraging blockchain technology, primarily Ethereum, to eliminate traditional financial intermediaries. It enables various financial applications, from simple transactions to complex contracts, through smart contracts that execute automatically under specific conditions. Key DeFi applications include decentralized exchanges (DEXs), stablecoins, lending platforms, and prediction markets. DeFi offers financial services like loans and interest-earning opportunities without traditional identity verification, relying instead on collateral, usually in cryptocurrency. This innovative sector promises increased accessibility and efficiency but comes with risks, such as market volatility and unregulated projects.

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Alex McFarlane and Mélodie Lamarque, co-founders of Keyring Network (Courtesy Keyring Network)
Crypto Compliance Platform Keyring Raises $6M to Unlock DeFi for Institutions
The company allows institutional investors to comply with regulations when interacting with DeFi, and recently facilitated a proof of concept trial with Nomura's crypto arm La...
Alex McFarlane and Mélodie Lamarque, co-founders of Keyring Network (Courtesy Keyring Network)

Aevo volume (DefiLlama)
Billion-Dollar Volumes and Then a Steep Drop Prompts Allegations of Wash Trading on Aevo
In response, Aevo says customers suddenly traded more on its decentralized exchange to try to get some of its airdrop.
Aevo volume (DefiLlama)

A shiba inu. (Atsuko Sato)
Meme Coins Strongly Correlated to Network Growth: Franklin Templeton
Meme coin markets have boomed in tandem with the growth of addresses on their underlying blockchains.
A shiba inu. (Atsuko Sato)

BIS tower building (BIS)
DeFi Borrower Behavior Key to Gauging Tokenization Risks: BIS Study
The study was designed to look at the largely unexplored "intricacies" of user behavior and dynamics of decentralized finance lending, the authors said.
BIS tower building (BIS)

Bees (Boba Jaglicic/Unsplash, modified by CoinDesk)
Developers Upload Script of Jerry Seinfeld’s ‘Bee Movie’ on Ethereum as Gas Fees Plunge After Dencun
Copying and pasting the Bee Movie script is a niche internet meme that originated on Tumblr and quickly spread to Reddit, YouTube, Facebook, and other social media platforms.
Bees (Boba Jaglicic/Unsplash, modified by CoinDesk)

UNI price more than doubled since the plan for the revenue sharing mechanism became public on Feb. 23 (CoinDesk)
Uniswap's UNI Gains 20% as Token Reward Proposal Inches Closer to Approval
Uniswap's reward sharing mechanism, if approved, could inspire other DeFi protocols to follow suit.
UNI price more than doubled since the plan for the revenue sharing mechanism became public on Feb. 23 (CoinDesk)

(Alina Grubnyak/Unsplash)
Bernstein Expects DeFi to Make a Big Comeback
Six out of the top 10 revenue-generating protocols are DeFi applications, the report said.
(Alina Grubnyak/Unsplash)

Farming (James Baltz/Unsplash)
Seeking Yield on $37M Ether Treasury, JPEG'd DAO Mulls Airdrop Farming
"There are possibilities to solidify the treasury at low risk," pseudonymous JPEG'd contributor 0xTutti told CoinDesk.
Farming (James Baltz/Unsplash)

Ethereum co-founder Vitalik Buterin. (CoinDesk)
Ether's Bitcoin Beating Rally Not Just Because of Potential ETF Approval: Bernstein
The amount of ether held on exchanges is at an all-time low of 11%, a sign that more of the cryptocurrency is being locked up for DeFi, the report said.
Ethereum co-founder Vitalik Buterin. (CoinDesk)

Three Crypto Predictions in 2024
Three Crypto Predictions in 2024
"CoinDesk Daily" host Jennifer Sanasie breaks down three predictions from Pantera Capital partner Paul Veradittakit, including a focus on tokenized social experiences, an incr...
Three Crypto Predictions in 2024