DeFi’s total value locked [TVL] figures seem to be holding above $10 billion, however, scams are crawling out of the shadows, one project at a time. While ‘scam’ is a strong, blanket word, not all projects are scams per se. This weeke…
Yearn Finance founder Andre Cronje suggests he did not mishandle the Eminence (EMN) project’s economic exploit, which he insists functions well. He accuses certain social actors of creating a story around EMN that caused rational actors to jump onto the token. Cronje’s comments follow reports that a group of defi community members planning to sue […]
The post Yearn Finance Founder Blames Social Actors for Role in the EMN Token Hack appeared first on Bitcoin News.
The decentralized finance (defi) space is headed for an implosion unless the divided community leaders step forward with solutions. This is discernible from September 13 Sunday morning tweets by some influential players in the defi space wherein they attack each other. Waves blockchain creator Sasha Ivanov kicked things after depicting current defi ecosystem as Ponzi […]
The post Defi Boom: Bubble Fears Grow as ‘Toxic’ Community Disagrees on Way Forward appeared first on Bitcoin News.
Sushiswap’s new leader and FTX CEO Sam Bankman-Fried tweeted on September 12 that the promised 2 million token airdrop would go on as scheduled. The process was expected to last up to two hours or less depending on network congestion. The airdrop caps an eventful week for Sushiswap that started with the reported ‘exit scam’ […]
The post Sushiswap’s 2 Million Token Airdrop: Founders Face Accusations of ‘Making Defi a Joke Again’ appeared first on Bitcoin News.
After a number of individuals from the crypto community accused the anonymous developer Chef Nomi of exit scamming, the developer transferred the project over to Sam Bankman-Fried, the CEO of the trading platform FTX. On Saturday, September 5, the decentralized finance (defi) community got upset with the creator of Sushiswap, a forked project copied from […]
The post Defi’s Raw Deal: Sushiswap Creator Transfers Multi-Sig Control to FTX CEO appeared first on Bitcoin News.
The decentralized finance (defi) crypto asset tied to the Yearn Finance project has smashed records this week, as the coin touched a high of $30,324 on Saturday evening. Yearn’s token YFI has been recently added to the Aave platform and the project’s founder, Andre Cronje, is currently talking about collaborating with the exchange FTX. Yearn […]
The post Defi Project Yearn Finance Smashes Records as Native Token Surpasses $30K appeared first on Bitcoin News.
“0 value. Do not buy it. Earn it.” – the final words of the Medium post which introduced the now famous yearn.finance (YFI) token to an already overexcited DeFi space. Hailed as one of the most decentralized projects in cryptocurrency, […]
Depositors to the Y Curve decentralized finance (defi) pool received as much as 2,000% in interest this Saturday and about 600% (annualized) for the entire day. Before this increase, liquidity providers had been earning an aggregate rate of 10.58%. The latest interest rate growth follows Yearn Finance’s release of a YFI token to govern the […]
The post Y Curve Interest Rates Reach 2,000%, Assets Under Management Grows Tenfold After Token Launch appeared first on Bitcoin News.