DeFi News

A new proposal put forward by Solana (SOL)-based borrowing and lending service Solend to disapprove the takeover of the protocol's largest account following huge backlash from the community has passed with an overwhelming majority of votes.

The hacker of XCarnival, a lending aggregator for metaverse assets, has accepted a bounty of ETH 1,500 (USD 1.85m) in exchange for the return of the remaining ETH 1,467 (USD 1.8m) and the team not pursuing legal actions.

Microsoft is aiming to benefit from the rapid spread of hybrid work, looking to extend its presence within the social connection-focused virtual world to companies whose employees are working remotely. The company also seems determined to use its forthcoming acquisition of game developer Activision Blizzard to boost its metaverse assets.

Pure decentralized finance (DeFi) protocols have fared far better than the more centralized crypto lending and borrowing companies during this bear market. This proves that computer code and transparent standards give “a better outcome,” crypto essayist and former BitMEX CEO Arthur Hayes wrote.

The protocol is now handling trading volumes comparable to some of the world’s largest centralized crypto exchanges.

“Crypto is dead. Long live Crypto,” the veteran decentralized finance (DeFi) developer and creator of early DeFi protocol Yearn.Finance (YFI), Andre Cronje, opened a new blog post by saying. He went on to argue that more regulation is needed in the space in which he has earned significant wealth.

Risks are inherent to all financial sectors, and decentralized finance (DeFi) is no exception.

Fortress, decentralized finance (DeFi) lending protocol with an algorithmic money market and a synthetic stablecoin, has suffered an oracle price manipulation attack that resulted in the loss of all of its funds.

A novel decentralized autonomous organization (DAO) dubbed AssangeDAO is raising funds to bid on a non-fungible token (NFT) and help WikiLeaks founder Julian Assange in his legal effort to get free.

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