The Solana-based DeFi platform Friktion announced plans to close its front-end user platform. The consumers are urged to redeem their assets from January 25. The DeFi company confirms that the user platform will only accept withdrawals while suspending other services offered by the website. Friktion Shuts Down User Interface A report issued by the Friktion …
The post DeFi Platform Friktion Shuts Down User Interface, Compels Assets’ Withdraw appeared first on Tokenhell.
Earlier last month, Theta launched its long-awaited Metachain. With this, creators can now create their own subchains. In turn, a whole new paradigm of content distribution emerges. Back in April last year, we covered Metachain and what it means for Theta and its users. Since then, the Theta team has delivered on their promise. Now, […]
Gambulls is a new cryptocurrency casino and gambling platform welcoming all players. New players can access a cashback bonus of up to 50% on their […]
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion SOL could aim at a critical selling pressure zone if BTC aims at $23.3K. SOL’s development activity improved, boosting investors’ confidence. Solana [SOL] dropped below the $24.33 level after Bitcoin [BTC] fell to $22.5K. […]
Aave V3 is now live on the Ethereum mainnet. With this upgrade, WBTC, WETH, wstETH, USDC, DAI, LINK, and AAVE are the only supported assets. Aave V3 Improves Capital Efficiency Stani Kulechov, the co-founder of Aave, said V3’s flexible design introduces new ways of mitigating risks, reducing gas costs, and improving capital efficiency, all while ensuring better liquidity decentralization. Aave Protocol V3 is now live on the Ethereum market 👻 ”The most exciting aspect of V3 is its flexible design, which enables a variety of new risk mitigation features, and its improved capital efficiency & decentralized liquidity – all while reducing gas costs.” @StaniKulechov pic.twitter.com/QsSnnlhEMr — Aave (@AaveAave) January 27, 2023 This upgrade came after the Aave community delayed the upgrade. Then, Aave developers assessed that immediately improving V2 Pools to V3 would not have yielded the desired level of compatibility with other Aave V3 pools running on Avalanche, Polygon, and Ethereum layer-2 platforms. Related Reading: Aave Price Surges As V3 Cloud Upgrade Draws Near The current Aave V3 on Ethereum has been reworked. It is negligibly complex and more compatible with other Aave V3 pools outside of Ethereum. The transition to Ethereum, expanding Aave’s presence in top blockchains, didn’t immediately affect its total value locked (TVL). Data show that it is 2% lower in the past 24 hours. However, TVL is up 24% in the last month, rising to $4.56 billion as of the time of writing on January 27, according to data streams from DeFiLlama. Aave is now the fourth largest DeFi protocol by TVL, trailing Lido Finance, MakerDAO, and Curve. However, the dApp is the second-largest lending protocol by TVL, behind MakerDAO. By launching on Ethereum, and upgrading from the original V2, the protocol’s TVL might gradually increase over the coming weeks or months. This, in turn, may positively impact AAVE prices. Aave is a decentralized money market, allowing crypto holders to actively lend and borrow various assets. Integrating V3 on Ethereum avails the protocol on six other platforms, including Avalanche, Polygon, and Harmony. Polygon is compatible with Ethereum’s virtual machine, existing as a layer-2 protocol enabling higher scalability and significantly lower trading fees. What Aave V3 Brings Developers claim Aave V3 introduces various changes that, as the co-founder said, make lending and borrowing more seamless and cheaper. According to the protocol, this version is optimized to reduce gas costs by around 20-25% across the board. Users can also move assets across all Aave markets, irrespective of the network. By launching on Ethereum, Harmony users, for example, would be free to transfer assets and participate in Aave V3 markets on the most active platform. Related Reading: Aave Price Recovers Back To $57, But Threat Of New Attack Looms Over Protocol Aave V3 introduces the “Isolated Mode” where Aave governance can vote to list new tokens as isolated assets with specific debt ceilings. Aave clarifies that the debt ceiling is the maximum USD reading that a borrower’s collateral can cover. Only approved tokens, mostly stablecoins, can be borrowed in this mode. Feature image from Canva, Chart from TradingView
FLOKI climbed to a 5-month high after the team shared the plan. Floki Inu developers contemplate burning nearly 5 trillion FLOKI tokens (worth almost $55 million) to reduce the tax applied on each transaction. FLOKI’s price reacted positively, surging 15% in a few hours. “We understand that the decision to burn the bridge tokens is […]
According to the BEA’s advance estimate, U.S. GDP increased at an annual rate of 2.9 percent in the fourth quarter of 2022.Read more
Amazon NFT News: With the news of tech major Amazon preparing to launch its digital assets enterprise, the onus is now on the cryptocurrencies that previously partnered with the e-commerce company. What caught the attention of the crypto community is the speculation of Amazon’s plans to announce the crypto ambitions as early as April 2023.
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