DeFi Platform Friktion Shuts Down User Interface, Compels Assets’ Withdraw

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 …

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Aave V3 Is Live On Ethereum, TVL Up 24% In One Month

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

DeFi protocol Aave V3 goes live on ethereum mainnet 

Aave has announced the successful launch of Aave V3 on the ethereum mainnet. The latest iteration of the DeFi protocol comes with several improvements, including gas fee optimization and more.  Aave V3 launches on the ethereum mainnet  Following strong backing…

Uniswap Founder: People Rooting For Crypto To Be Shut Down Are Cringe

Hayden Adams, the founder of Uniswap, thinks people rooting to have crypto shut down are “incredibly cringe.” Uniswap Founder: Let People Be In a tweet on January 26, Hayden emphasized that no one has forced anybody to use crypto, buy coins, or keep up with the latest events in the industry. He also added that no one asks for the “dumb” global fiat system to be shut down. Related Reading: 80% Of Uniswap Holders Support BNB PoS Chain For Deploying V3 Protocol Instead of opposing technology and infringing on people’s rights, he recommends that opposers let people do what they want and chill. People rooting for crypto to be shut down are incredibly cringe. Like no one is trying to shut down the dumb fiat system you use, no one is forcing you to buy crypto; no one is forcing you to read crypto news or follow crypto Twitter. Let people do what they want and chill. It is not immediately clear what triggered Hayden to vent his frustrations on Twitter. However, what’s known is that no-coiners, individuals who are against crypto, hold no coin, or show no desire to participate, have been shooting down blockchain and crypto proponents. Tackling Nocoiners Over the years, crypto’s volatility has been called into question, with many regulators and heads of agencies slamming top cryptocurrencies like Bitcoin. Billionaire Warren Buffet and economist Nouriel Roubini, nicknamed Dr. Doom, lead the pack. In the aftermath of the FTX collapse, while attending the Abu Dhabi Finance Week, Nouriel said Binance’s CEO, Changpeng Zhao, was a “ticking time bomb,” and he was surprised that Binance had been allowed to operate in the Gulf state. He wants regulators across the world to “think carefully” about Bitcoin and cryptocurrencies. As of January 27, the price of Bitcoin was changing hands at around $23,000. Like Warren, Dr. Doom says cryptocurrencies, with which Hayden made a platform for easy trading, hold no intrinsic value. He always insists that crypto is the biggest scam in financial history. Nouriel mainly blames regulators in the United States for being “lenient”. Crypto is the biggest scam ever in financial history. Their true value isn’t 0; it is rather negative, given their negative externalities. 100s of celebrities handsomely profited by peddling criminal shit coins and crypto scams, shafting suckers. The current fines are only a slap on the wrist. They should be prosecuted. Uniswap is a leading cryptocurrency exchange, allowing for the trustless exchange of various tokens and NFTs. Founded in late 2018, the exchange, under Hayden Adams, has grown to be one of the world’s largest DEXes, serving millions of users across the globe.  Related Reading: How Uniswap Was Saved From Critical Vulnerability By This Security Firm DeFiLlama data shows that the DEX has a total value locked (TVL) of $3.8 billion as of January 27. Feature image from Canva, Chart from TradingView

Decoding MKR’s price action after MakerDAO burn activity hit highs

Decoding MKR’s price action after MakerDAO burn activity hit highsThe MakerDAO burn strategy was in one of its most active states.  MKR’s momentum could eventually become bearish. Decentralized Finance protocol and builders of DAI, MakerDAO [MKR] have been involved in burning its tokens as part of its tokenomics strategy. This fascinating activity has been happening since 2018. And, in turn, has helped MKR holders […]

DeFi platform dYdX op Ethereum stijgt 50% door dit staking nieuws

dYdX, een decentraal handelsplatform (DEX) en DeFi project op Ethereum (ETH), heeft de zogenaamde lock-up periode van 156 miljoen tokens met 10 maanden is verlengd. Oorspronkelijk zouden de ongeveer 300 miljoen dollar aan tokens in februari van dit jaar vrijkomen. Nu is die lock-up periode verlengd tot in ieder geval

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TEZOS and Its Top 3 DeFi Dapps

DeFi had a rough year in 2022. However, since the FTX collapse, DeFi protocols are getting more traction again. Tezos is a blockchain that is well known for its DeFi protocols. It was roaring towards the end of 2021. However, how is DeFi doing now on Tezos? So, we are about to find out. We […]

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Top 10 DeFi protocols were in green during January

According to the decentralized finance (DeFi) total value locked (TVL) aggregator, DeFi Llama, the total DeFi TVL has reached $47.94 billion, up by 3% in the past 24 hours while hitting a two-month-high. Per the data, the top protocol remains…

Lamina 1 Co-Founders Appoint Rebecca Barkin as the New CEO

The layer-1 blockchain firm Lamina 1 has announced Rebecca Barkin as the new chief executive officer. The newly appointed chief executive joined Lamina last August and has served as the firm’s president. Change in Leadership After the long wait for a new CEO to join the Lamina group, the chairman Neal Stephenson promoted the acting …

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