Blockchain Capital secures $300M funding from PayPal, Visa

Blockchain Capital has attracted investment from PayPal, Visa, and other investors to the tune of $300 million for its Fund V LP. PayPal and Visa are among several major investors to have participated in a $300 million funding for Blockchain Capital.In a release issued on Tuesday, Blockchain Capital announced that the close of its Blockchain Capital V LP.According to the release, Fund V, capped at $300 million was oversubscribed with numerous investors including college endowments, family offices, and pension funds participating in the capital raise.As part of the announcement, Blockchain Capital stated that PayPal, Visa, and some other Fund V investors will take part in the firm’s strategic partnership program.Blockchain Capital is one of the oldest blockchain-focused funds in the industry and currently backs major projects including crypto exchanges like Kraken and Coinbase as well decentralized finance protocols like UMA, Nexus, and Aave.The firm also has footprints in the nonfungible token space with NFT marketplace OpenSea a part of its portfolio.As previously reported by Cointelegraph, Blockchain Capital together with Morgan Stanley Tactical Value led a $48 million Series B funding round for asset tokenization platform Securitize.

DeFi hub Karura emerges as first Kusama parachain slot auction winner

Polkadot’s canary network Kusama is set to see decentralized finance hub Karura become the first parachain. Karura network has emerged as the winner of the maiden Kusama parachain slot auction.According to an announcement issued on Tuesday, Karura pulled support from over 15,000 entities who staked Kusama (KSM) tokens in favor of adding the decentralized finance hub as the first Kusama parachain.In total, Karura backed locked up over 491,000 KSM  currently valued at $93 million based on the Kusama market price as of the time of writing.

MakerDAO slashes stability fees as stablecoin demand wanes

Maker hopes to reignite demand for its DAI stablecoin through the fee reduction. Decentralized finance lending and stablecoin protocol MakerDAO has adjusted stability fees across a wide range of crypto assets used as collateral on the platform.The move comes as the demand for DAI and other stablecoins has cooled amid the recent crypto market retracement, with Maker hoping to drive up demand for DAI minting through the reduction in fees.⚠️Maker Protocol Changes ⚠️ (1/5)ETH-A Stability Fee: 5.5% → 3.5%ETH-B Stability Fee: 10% → 9%ETH-C Stability Fee: 3% → 1%WBTC-A Stability Fee: 4.5% → 3.5%LINK-A Stability Fee: 5% → 4%YFI-A Stability Fee: 5.5% → 4%— Maker DAI Bot (@MakerDaiBot) June 21, 2021 When users deposit crypto assets to mint the protocol’s stablecoin, DAI, the debt incurs a stability fee which is effectively a continuously accruing interest that is due upon repayment of the borrowed tokens.Maker’s fluctuating stability fees are designed to maintain DAI’s dollar peg, as when collateralized debt position (CDP) holders mint more DAI than the market demands, the stable token’s price could fall below $1.Increasing the stability fee pushes up the cost of borrowing DAI, reducing demand for minting the token.

PandaCash: A Low Risk – High Reward No-Loss Lottery in DeFi Space

Decentralized Finance, DeFi in short – the blockchain-driven revolution in the fintech space continues to grab the headlines.

Why gaming could be the next big test for Ethereum and Polygon

Polygon has been enjoying all the attention in the market lately after it added various decentralized finance DApps to its network.

'Crypto Bank Run' Shows Mark Cuban That DYOR Comes Before Regulation

Mark Cuban. Source: a video screenshot, Youtube, The Filmy Amid the algorithmic stablecoin debate prompted by what decentralized finance (DeFi) protocol Iron Finance called "the world’s first large-scale crypto bank run," many in the Cryptoverse came down quite hard on Dallas Mavericks owner Mark Cuban for his call for stablecoin regulation - arguing that he should've done due

DeFi focused: Grayscale exploring 13 more crypto assets for its trusts

Grayscale has added 13 new cryptocurrencies to its list of assets under consideration, again exhibiting significant interest in DeFi. Institutional asset manager Grayscale has announced 13 more crypto assets are currently under consideration for its suite of crypto investment trust products.Revealed on June 18, the prospective assets mainly represent the decentralized finance (DeFi) sector, including 1inch, Bancor, Curve, Kava, Kyber Network, Loopring, Polygon, Ren, Universal Market Access, and 0x.The native tokens of high-speed scalable blockchain networks Solana, Near, and Dfinity have also been added to Grayscale’s list of considered cryptocurrencies.We’re always exploring new assets that can help us grow our family of investment products.

Mark Cuban Hit by Iron Finance Token Crash, Calls for Defi Regulation

Billionaire investor and Shark Tank star Mark Cuban has called for cryptocurrency regulation focusing on decentralized finance (defi) and stablecoins after a token he invested in collapsed from $64 to near zero.

Mirror Protocol silently rallies 30% overnight despite crypto market slump

The decentralized finance protocol's native token MIR jumps over 30% overnight as traders' attention shifts to its protocol upgrade and Gemini listing. Mirror Protocol (MIR) emerged as one of the best performing tokens in the cryptocurrency market on May 17, even as its top trading rivals Bitcoin (BTC) and Ether (ETH) struggled to find direction after a depressive previous daily session.The MIR/USD exchange rate surged by up to 26.71% to reclaim its two-week high of $4.974.

This DeFi debate on Ethereum, Polygon, AAVE & SUSHI is gaining steam

Even though decentralized finance [DeFi] saw a brief hiccup last month, with transaction numbers and trading volumes falling, it was now making a strong recovery.

Bitdao Collects $230 Million in Private Capital From Investors

As the decentralized finance movement proves its staying power and resilience, one of the world’s largest decentralized autonomous organizations, Bitdao, has concluded a private fundraising round to promote mass adoption of open finance.

Kyber expands to Polygon, announces $30M ‘Rainmaker’ liquidity mining program

The Kyber Network is set to float a $30 million liquidity mining program on both Ethereum and Polygon pools. Decentralized finance liquidity hub Kyber Network is set to become the next DeFi protocol to enter the expanding Polygon ecosystem.In a statement issued on Wednesday, Kyber announced the launch of Rainmaker, a liquidity mining program on the platform’s Dynamic Market Maker protocol that will commence on June 30 to mark Kyber’s expansion to Polygon.According to the announcement, the Rainmaker program will distribute $30 million in rewards to liquidity providers on the Kyber DMM across both Polygon and Ethereum.Of the total reward pool, 12.6 million Kyber Network Crystal (KNC) — about $25 million — will be distributed to liquidity providers (LPs) on selected Ethereum-based amplified pools.

Sygnum to offer banking services to Aave, Uniswap, and other DeFi tokens 

Switzerland-based digital asset Bank, Sygnum has launched institutional-grade custody and trading services for Aave and Uniswap, among other decentralized finance [DeFi] tokens.

Billionaire Mark Cuban Commends Defi Economy Dubbing It the ‘Next Great Growth Engine’

On June 13, the billionaire investor and co-host of the television series Shark Tank, Mark Cuban, explained his fascination with decentralized finance (defi) in an editorial published to his blog.

Cross-Chain Decentralized Exchange MDEX With a Well-Rounded Ecosystem

[Featured Content] The sector of decentralized finance (DeFi) is undoubtedly one of the hottest topics in the past couple of years.

B.Protocol announces v2 platform for DeFi liquidations

B.Protocol says v2 will optimize liquidations of “big debt” with significantly smaller capital requirements on decentralized finance lending platforms. Decentralized finance service B.Protocol has announced plans for a new version that will improve the liquidation of undercollateralized loan positions on lending platforms.In a release issued on Tuesday, the backstop liquidity protocol for DeFi lending platforms revealed that the upcoming v2 is based on a white paper for a novel Backstop automated market maker (B.AMM) written by a couple of anonymous community members.According to a blog post published by B.Protocol founder Yaron Velner the v1 design that utilized professional liquidators to share profits with users instead of miners was not sufficient to tackle the capital inefficiency problem.Unlike centralized exchanges like Binance that offer leveraged trading up to 100 times user deposits, the leverage ratio on decentralized exchanges (DEX) rarely exceeds five times.

Solanax: Fastest decentralized exchange built on Solana blockchain

Decentralized finance (DeFi) has only been here since 2020 yet it’s already shaking the financial world.

AAVE, MATIC, and DeFi projects: Why 'banks should be scared'

Decentralized finance (DeFi) has seen a surging interest unlike amid the chaos of 2020.

DeFi Yield Farming is Brilliant Says Legendary Investor Mark Cuban

American billionaire entrepreneur and television personality Mark Cuban has been extolling the virtues of decentralized finance (DeFi) and yield farming on his personal blog.

Is DeFi technology easy enough to adapt to non-finance industries?

DeFi gets a bad rap for being complex, technology makes it simple enough to cut out middlemen in non-finance industries ranging from energy to e-commerce. Decentralized finance is far and away the hottest topic in crypto, touted as a way to make a fortune by backing the right token, but also a tool for taking the crypto you were hodling in a cold wallet and set it to work earning interest at extraordinary rates.There’s a reason DeFi has grown so large so quickly that it has slowed the Ethereum blockchain where most of the projects live to a crawl, and sent gas prices for transactions soaring to $10, $50, even $100 at times.DeFi is mostly talked about in terms of taking over the banking and brokerage functions that big finance thrives on, but the technology can be used to revolutionize many other businesses, from energy to e-commerce.That reason is simple: At its core, decentralized finance is about eliminating the middleman.Why give a bank your money — for a paltry fraction of 1% interest — for it to loan out, when you can loan it out for orders of magnitude more through a crypto lending site?Or invest it in a liquidity pool that uses an automated market maker to create a shared pot of tokens that cryptocurrency traders can sell to or buy from, rather than waiting to find a trader who wants to buy what they’re selling at the price they want.

Increase yield earning opportunities with Bunicorn

Over the last year, the high-performance Binance Smart Chain has rapidly overtaken Ethereum as the leading platform for decentralized finance (DeFi) applications.

HaloDAO to Hold Anticipated Initial DEX Offering on SushiSwap MISO on June 24

[PRESS RELEASE – Singapore, Singapore, 11th June 2021] HaloDAO, a comprehensive decentralized finance protocol designed to create asset agnostic global money fund networks, will hold its anticipated Initial DEX Offering (IDO) on June 24, launching on SushiSwap’s recently deployed MISO Launchpad at 12 PM UTC.

DeFi Has Had a Strong 2021, Driven By New Trends & Paradigms

The decentralized finance (DeFi) sector had a massive 2020, and while non-fungible tokens (NFTs) and the crypto bull market may have overshadowed it so far in 2021, its performance this year has been at least as strong.

DeFi will bring global revolution to the traditional finance space

DeFi has marked the birth of an open alternative to the current financial system, promising broader financial inclusivity. Decentralized finance came to life with the inception of Ethereum in 2013.

HaloDAO To Hold Anticipated Initial Dex Offering on SushiSwap MISO on June 24, 2021

June 11, 2021 – Singapore, Singapore HaloDAO, a comprehensive decentralized finance protocol designed to create asset agnostic global money fund networks, will hold its anticipated initial DEX offering (IDO) on June 24, 2021, launching on SushiSwap’s recently deployed MISO launchpad at 12 PM UTC.

Ripple Proposes Massive XRP Ledger Upgrade To Support DeFi and Smart Contract Capabilities

Ripple is proposing a major XRP ledger upgrade that the company says could unleash decentralized finance (DeFi) and smart contracts across the broader XRP ecosystem without decreasing XRPL’s efficiency.

Financial Giant State Street Launches Digital Finance Division – Unit’s Focus Aimed at Crypto and Defi

On Thursday, the Boston-based financial services and bank holding company State Street Corporation announced the launch of a division dedicated to cryptocurrencies, the digital economy, and decentralized finance (defi).

Polygon committing $10M to reach 1M users using 0x API

The project said it anticipated “an influx of new DeFi projects onboarding into the 0x ecosystem." The network onboarding a large number of decentralized applications aims to hit one million users through 0x’s decentralized exchange liquidity aggregator API.In an announcement today, Polygon said its project would be committing $10.5 million towards securing decentralized finance infrastructure on its network through the support of developers and projects.

Fears of Shady Financial Market Prompt CFTC Commissioner’s Calls for DeFi Crackdown

A commissioner of the Commodity Futures Trading Commission is calling for a crackdown on decentralized finance (DeFi) platforms.

World Economic Forum releases policy toolkit for DeFi regulations

The WEF’s policy toolkit for decentralized finance seeks to promote, fair, efficient and enforceable regulations for the emerging digital asset marketplace. With regulated decentralized finance (reg-DeFi) becoming a topic of discussion within and outside the crypto space, the World Economic Forum (WEF) has published a policy toolkit on DeFi.According to a release issued on Tuesday, the toolkit seeks to provide useful guidance for regulators and government policy-makers concerning DeFi regulations.

Cointelegraph Consulting: DeFi hit by a tsunami of liquidations in May

The DeFi space crashed along with the rest of the market on May 19, but the liquidations mechanisms passed the biggest stress test. The savage sell-off that took place in mid-May fueled volatility in markets and triggered liquidations among numerous decentralized finance protocols.

Sights set on mainstream adoption: Is another DeFi summer on the way?

Last summer, DeFi took the world of financial services by storm, but the question is: Will history repeat itself? Over the last year, decentralized finance has been the hottest topic of discussion in the crypto world, pushing the entire industry to new heights, developing innovative applications for the technology, and making financial services more accessible. It intends to place economic infrastructure back in the hands of the people, and just like how TCP/IP facilitated the growth of so many enterprises on the internet, decentralized finance is bringing business onto the blockchain.Last year, the introduction of automated market makers gave DeFi a much-needed boost.

Yearn.Finance in Miami: Developer talks new vaults, products, and verticals

Layer-2, DEX liquidity pool position vaults, and insurance is on the horizon for the rapidly-expanding team. Two sweltering blocks from the gated entrance of Bitcoin Miami I managed to track down a core contributor for one of the most important projects in decentralized finance (DeFi).

NFT as Collateral Coming to Aave - CEO

Source: a screenshot, Instagram/aave.aave Non-fungible tokens (NFTs) are spreading through the decentralized finance (DeFi) world and all its nooks and crannies - and they might be soon used as collateral on the major decentralized liquidity protocol Aave (AAVE).

Impulseven: Myriad of Solutions in a Decentralized Ecosystem

[Sponsored] Touted by many as the ‘future of finance,’ the sector of decentralized finance or DeFi is booming.

Defi Economy Is Recovering Faster Than Most Crypto Assets After Market Rout

Decentralized finance (defi) exchanges and tokens are recovering a lot faster than a great number of digital assets that lost more than 40% in value last week.

New DeFi ‘passport’ could enable under-collateralized crypto loans

Arcx has launched a new version of its “DeFi Passport,” Sapphire, promising the pseudonymous on-chain credit check will enable new decentralized finance products. Decentralized finance (DeFi) protocol Arcx has announced the launch of Sapphire v3, a DeFi passport allowing crypto users to pseudonymously build and verify their reputation on-chain.Announced June 2, the DeFi passport will score users on a scale between 0 and 1,000, with Arcx advancing that the passport “incentivizes reputation-building and curates on-chain identity into DeFi.”In the absence of a DeFi passport, Arcx asserts that “protocols are left to treat every user the same, occasionally giving preferential consideration to wallet size, institutional backing, or restrictive KYC.”Arcx expects its passport will be integrated onto many DeFi protocols, predicting Sapphire will allow projects to offer “low-collateral loans and high-yield farms” targeting users with high credit scores.

Analyst says Bitcoin could see ‘a smaller drawdown and a quicker bottom'

Bitcoin bulls fell short of flipping the $38,000 level to support, and one analyst said on-chain data signals that BTC could see “a smaller drawdown.” The cryptocurrency faithful got a reprieve from recent market struggles thanks to a rally in decentralized finance (DeFi) tokens and Dogecoin (DOGE) on June 2.

Interoperable privacy solution Panther Protocol nabs $8 million from investors

The world of decentralized finance is growing at a tremendous pace.

Interoperable DeFi Solution Panther Protocol Secures $8 Million

The decentralized finance industry has noted substantial initial success, but there is still room for improvements.

Composable Finance raises $7M for cross-chain and cross-layer DeFi interoperability

Composable Finance has secured funding from several blockchain investment firms as it seeks to foster greater interoperability in the emerging decentralized finance market. Composable Finance, a DeFi interoperability protocol has announced a $7 million raise backed by 16 notable blockchain investment firms.According to a release issued on Tuesday, the funding round was led by Advanced Blockchain AG and Rarestone Capital.

Thailand's SEC Eyes on Decentralized Finance

Thai financial authority turn their eyes to decentralized finance regulation by requesting future DeFi-related activities to get appropriate licenses.

DEFI & NFT Summit Will Bring Together 16+ TOP Experts on June, 10-11

Disclaimer: The text below is a press release that was not written by Cryptonews.com. DeFi & NFT Summit is a 2-days online business event dedicated to understanding decentralized finance, NFT market and investment opportunities to take place on June, 10-11. The

0x launches DEX liquidity API on Polygon

Polygon’s decentralized finance footprint continues to grow, with 0x releasing a version of its decentralized exchange liquidity aggregator API on the “Ethereum scaler.” 0x has released a Polygon version API for its decentralized exchange (DEX) liquidity aggregator, opening up the 0x API tool to the expanding Polygon market.The DEX liquidity bridge service announced the move via a release issued on Monday, marking another milestone for the burgeoning decentralized finance (DeFi) scene on Polygon.According to the announcement, the 0x API on Polygon features major Ethereum-based DEX liquidity channels like SushiSwap, Dfyn and Curve, as well as Dodo, mStable, QuickSwap and Cometh.Detailing the ease of using the 0x API on Polygon, the announcement reads:“Developers are able to access the open source 0x API and accompanying documentation to start building on Polygon instantly.

Can Binance Smart Chain and Solana Overtake Ethereum? Crypto Heavyweights Analyze the Future of DeFi

Two heavyweights of the crypto industry are contemplating whether Binance Smart Chain (BSC) and Solana (SOL) have the ability to overtake Ethereum as the leader in the decentralized finance (DeFi) space.

Crafting Finance Launches Next-Generation Synthetic Asset Project on Polkadot

[PRESS RELEASE – SINGAPORE, May 28, 2021] Crafting Finance, the next-generation Polkadot-based ecosystem of decentralized finance products that comprises swap, lending, borrowing, and synthetic asset features, is combining the best of its features to create a bonded system and redefining how DeFi works.

Uniswap Community Votes on $40M DeFi Lobbying Organization Proposal

A new proposal argues that decentralized finance is “on the menu” for regulators and needs to be legally protected.

BurgerSwap on Binance Smart Chain drained of $7.2M after flash loan attack

Binance Smart Chain is under attack, again, after yet another decentralized finance [DeFi] project got exploited in the last 24 hours.

Ripple Hiring in Push To Bring XRP Ledger to Central Banks and DeFi

Ripple is headhunting for a recruit who can take charge of its efforts to bring the XRP ledger to central banks and to the emerging world of decentralized finance (DeFi).

US-Sanctioned Actors Use Crypto in New Ways to Evade Restrictions - Report

Sanctioned actors and jurisdictions worldwide are finding new ways to use cryptoassets to evade restrictions and continue their illicit activities, per a recent report by blockchain analytics firm Elliptic. Some of the ways this is accomplished is using privacy coins, coinswap services, privacy wallets, decentralized exchanges (DEXes) and decentralized finance (DeFi)

Binance Smart Chain’s BurgerSwap drained of $7.2M in exploit

The latest in a recent spate of decentralized finance hacks. Another decentralized finance protocol was subject to a major exploit on Friday, May 28, after $7.2 million was drained from BurgerSwap (BURGER) on Binance Smart Chain.Varying amounts of seven different cryptocurrencies were stolen amid the attack, including $3.2 million worth of BURGER tokens, $1.6 million worth of Wrapped BNB (WBNB) and $1.4 million worth of Tether (USDT).

How Convergence Finance Is Revolutionizing Private Investment Markets

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. conv.finance There are numerous ways to enhance the appeal of blockchain technology and decentralized finance.

Analyst Believes Capital Flocks to Ethereum’s DeFi Sector

Market analyst Lark Davis noted that big money flow was piling in Ethereum’s decentralized finance (DeFi) sector, and that's bullish.

Analyst says DeFi and stablecoins held up well as crypto markets imploded

DeFi showed tremendous strength during last week’s sell-off as DEX activity and stablecoin stability prove the sector may be ready for mass adoption. The decentralized finance (DeFi) sector faced its first real challenge during last week’s market sell-off that saw more than $1 trillion wiped from the global cryptocurrency market cap as traders feverishly ran for the safety of stablecoins amid tumbling prices. Despite rapidly declining token prices, the nascent DeFi sector held its own as decentralized exchanges experienced a record $11.7 billion in trading volume on May 19.

Bitcoin: This industry leader predicts an ETF approval in the US by...

Decentralized Finance, Bitcoin ETFs and Ethereum's price movements have been largely discussed lately and have managed to garner the attention of people from outside the crypto community as well.

Shark Tank’s Kevin O’Leary to Launch DeFi Investing Company

Canadian businessman, politician, and television personality Kevin O'Leary is going all-in on decentralized finance with the revelation that he is a major shareholder in a new DeFi firm.

DeFi Spectacular Returns Unsustainable In Long-Term - Research

Decentralized finance (DeFi) is undergoing rapid evolution, but speculative demand bubbles that generated spectacular returns over short periods will be unsustainable in the long-term, according to a recent paper. "[DeFi] remains immature, with a variety of unresolved economic, technical, operational, and public policy issues that will be important to

Flash Loan Attacks Drain 2 Binance Smart Chain Defi Projects for $6 Million

There have been two back-to-back flash loan attacks in a short period of time stemming from two unique Binance Smart Chain decentralized finance (defi) projects.

From Fractionalized NFTs to Private Equity – How Convergence is Democratizing Investment

Decentralized finance (DeFi), tokenization and non-fungible tokens (NFTs) are gaining momentum as sub-sectors that could transform the traditional financial system.

PwC Report Shows that Crypto Hedge Funds Have Increasing Appetite for DeFi

A study shows that the assets under management (AuM) managed by cryptocurrency hedge funds have increased from $2 billion in 2019 to nearly $3.8 billion in 2020, showing that an increasing preference for decentralized finance (DeFi).

These Four Crypto Assets Gearing Up for New All-Time Highs, Says Top Analyst

Seasoned crypto trader and analyst Smart Contracter is calling for new all-time highs (ATH) in four crypto assets in the nascent decentralized finance (DeFi) space.

LEXIT To Launch IDO Aimed at Driving Its Next-Generation NFT Creation Platform

LEXIT, a decentralized finance platform (DeFi) for tokenizing intellectual property into non-fungible tokens (NFTs), announced today the launch of its first initial DEX offering (IDO) hosted on BSCPad, the first decentralized IDO platform for the Binance Smart Chain network.

Defi Economy Lost $20 Billion This Week, Decentralized Exchange Volumes Still Sky High

While crypto markets, in general, have been dropping significantly in value, the decentralized finance (defi) economy has shaved more than $21 billion during the last week.

SoftBank Is Making Multiple Crypto Moves this Month

The Japanese tech incubator giant SoftBank has had an active May so far, making a series of low-key investments in a number of crypto, non-fungible token (NFT) and decentralized finance (DeFi) projects. In a recent report, the Japanese media outlet Coin Post charted SoftBank’s investment movements in the crypto sphere over the past few weeks – and it appears the

Celo rallies 50% as excitement builds for the upcoming 'Donut' hardfork

CELO price gained 50% ahead of the network’s May 19 'Donut’ hardfork which will help increase interoperability and lower gas fees. Decentralized finance (DeFi) has emerged as a transformational force for not just the cryptocurrency market, but for financial markets in general in 2021 thanks to the ease of access and security offered by blockchain-based protocols which operate on smart contracts.One project that is looking to take the simplicity of DeFi to the next level is Celo (CELO), an open blockchain ecosystem that makes financial tools accessible to anyone with a mobile phone. Data from Cointelegraph Markets Pro and TradingView shows that the price of CELO rallied 50% from a low of $4.29 late on May 16 to an intraday high at $6.70 on May 18 on the back of a 740% surge in 24-hour trading volume. CELO/USDT 4-hour chart.

This Crypto Subsector Coming for Banks and Fintech, Says Chainlink Founder Sergey Nazarov

The CEO of Chainlink Labs Sergey Nazarov is saying the nascent decentralized finance (DeFi) space could emerge as a primary competitor of banks and financial technology (fintech) firms.

Cardano ERC-20 converter nears testnet phase

Cardano’s ERC-20 converter tool with built-in two-way convertibility will soon be open for beta testing. Decentralized finance on the Cardano blockchain is drawing closer to becoming a reality, with a token migration bridge soon to enter the testing phase.According to Francisco Landino, project manager at Input Output Hong Kong, or IOHK — the research and development arm responsible for Cardano — the platform’s ERC-20 migration tool is nearing testnet deployment.In a blog post published on Monday, Landino said that the ERC-20 converter tool will allow the migration of Ethereum-based tokens to the Cardano chain.The planned ERC-20 converter bridge will follow Cardano’s highly anticipated Alonzo hard fork, which is touted to bring smart contract functionality to the network.Arguing for the necessity of the ERC-20 conversion tool, Landino wrote:“Once deployed, users of supported Ethereum tokens will be able to bring them over from Ethereum’s congested network and take advantage of Cardano’s transaction capacity and lower fees, while enjoying enhanced security, reduced cost, and interoperability.”As part of the announcement, the IOHK executive also stated that the ERC-20 conversion tool was an important part of efforts to leverage Cardano’s value proposition over Ethereum in terms of parameters, such as scalability and transaction costs.With only a few clicks, crypto projects will be able to migrate their native tokens to the Cardano chain via the converter tool.

These Five Emerging Crypto Assets Are Heating Up, Says Trader Michaël van de Poppe

Closely-followed crypto analyst Michaël van de Poppe is naming five altcoins within the decentralized finance (DeFi) space that he thinks have the potential to print massive gains.

EY invests $100 million to expand blockchain product suite, launches DeFi contract simulator

Ernst & Young is investing $100 million into targeting enterprise DeFi with its latest suite of Blockchain Analyzer products. “Big Four” accounting firm, Ernst & Young Global Limited, or EY, is continuing to invest heavily in blockchain, investing $100 million into engineering and developing distributed ledger technologies for a range of enterprise applications.On May 17, EY revealed its second-generation of Smart Contract & Token Review tools through its EY Blockchain Analyzer product suite, including a testing studio allowing simulated smart contract execution for complex decentralized finance, or DeFi, applications.“The new iteration supports multiple new capabilities that are expected to be used in complex DeFi contract ecosystems,” EY announced, adding:“It offers a blend of compliance testing with traditional code review, and it supports customized smart contract tests and simulation of mainnet transactions.”Yael Tamar, the co-founder of asset tokenization firm, SolidBlock, recounted using the new studio to review smart contracts for property-backed security tokens, stating: “It was very beneficial to simulate how our contracts could perform on the network prior to deployment and test the contracts against widely known attacks in this market.” EY also revealed that Italian beer company, Birra Peroni, is using its Ethereum-based supply chain solution, “EY Opschain Traceability.” Peroni is using the supply train tracker to notarize company information and will mint nonfungible tokens to identify and track data for batches of Peroni beer.EY also announced the contribution of source code to a zero-knowledge-proof prototype compiler in the public domain. The firm’

FATF draft guidance targets DeFi with compliance

The final guidance expected to be issued by the FATF this summer might determine the next chapter for the decentralized finance space. The decentralized finance, or DeFi, space exploded over the last year, with a total value locked in DeFi of around $90 billion, according to DeBank.

DeFi growth helps push crypto’s share of the global money supply above 2%

The cryptocurrency market now accounts for 2% of the global money supply as DeFi and stablecoin growth point to steady increases in adoption. This year decentralized finance (DeFi) has proven to be a transformative sector for the cryptocurrency ecosystem and it is also making waves in among global financial markets as institutional investors become entranced with the potential to earn high yields on stablecoins, altcoins and Bitcoin. While the price action from Dogecoin (DOGE) has dominated the headlines in recent weeks, Delphi Digital has been chronicling the growth of the DeFi ecosystem on the Ethereum (ETH) network which has steadily been gaining strength over the past month.

Traditional finance has much to learn from new entrant DeFi

DeFi protocols offer insights into the future of capital markets infrastructure, for those willing to pay attention. Incumbents in traditional capital markets, as well as new entrants looking to capture market share, should heed the innovations within the crypto ecosystem collectively known as decentralized finance, or DeFi.

TCake.io - Tool for fhe Next Generation of Decentralized Finance

The text below is an advertorial article that was not written by Cryptonews.com journalists. To power the next generation of decentralized finance, TCAKE.io will provide users with cutting-edge trading toolkit for decentralized exchanges.

Ciphertrace Report Shows Crypto Crime Moving to Defi

Ciphertrace, a blockchain analytics company, has announced that crypto-related crimes have moved to the realm of decentralized finance (defi) apps and protocols.

Here's the how and why of DeFi's battle with CeFi

The grip that centralized finance companies have on global finance is slowly loosening, with the focus now shifting to decentralized finance.

Ethereum Gas Fees Surge to a Monthly High, Supply on Exchanges Continues to Decline

Ethereum's total fees has hit a monthly high of 746.026 ETH.

GoodFi coalition adds 22 industry leaders to help attract 100M to DeFi

The decentralized finance coalition has onboarded 22 leaders from 19 teams to help further its mission of bringing 100 million people into DeFi by 2025. Non-profit decentralized finance alliance, GoodFi, has announced the addition of 22 DeFi industry leaders to its newly formed Board of Advisors including representatives from many of the sector’s top projects.It’s also launched a website to hook new users up with appropriate DeFi protocols.

Alpha Homora defies market slump, bolsters TVL and token price on v2 relaunch

The leveraged yield farming protocol looks to put multiple missteps in the past with a successful relaunch. After a rocky first quarter, decentralized finance (DeFi) platform Alpha Homora announced the relaunch of its v2 leveraged yield farming program today — and so far both traders and users are celebrating as both total value locked (TVL) and ALPHA token prices soar. The version 2 of the platform, which allows for leverage up to 7x on popular yield farming positions on protocols such as Sushi, Curve, and Balancer, notably had to shut down to new positions after a devastating hack in February.

Ethereum 'Casino' Whales Dive Into DeFi - Analyst

The crypto market is hot right now, and rocketing coin prices are raising the stakes for new whale investors who are aiming to get a piece of decentralized finance (DeFi) by buying ethereum (ETH), according to blockchain analytics firm Chainalysis.

DeFi Is About to Undergo a Radical Transformation

Though decentralized finance is one of the dominant uses for blockchain technology today, it can be easy to forget that the industry is still in its very earliest stages of development.

Cardano-Based DeFi Infrastructure Builder deFIRE Raises $5 Million In Pre-IDO Funding

Many blockchains have gained traction in the world of decentralized finance.

DOTOracle – Rendering Decentralized Solutions to Polkadot and its Ecosystem

With a jump of more than 350% in its price this year, Ethereum has outperformed major cryptocurrencies, bolstered by the rise of decentralized finance (DeFi) protocols, like liquidity aggregators and decentralized exchanges.

Rise of YFI & Woofy May Be a Bellwether for Rotation From Ethereum To DeFi

The rise of Yearn Finance's governance token YFI could be a bellwether for another decentralized finance (DeFi) season, according to market players. A discussion is currently being led on whether "soonish, money is likely to flow down the [ethereum] risk curve back into DeFi," as BlockTower Capital founder Ari Paul opined.

DeFi Startup Votes To Fully Reimburse Hack Victims With $26,000,000 Allocation

Decentralized finance (DeFi) startup Rari Capital has voted to allocate roughly $26 million in reimbursements following a hack that cost them 2,600 ETH, or about $10 million.

Shield Finance Closes Private Funding Round to Bring Insurance to DeFi

The next generation of decentralized finance protocols and services will need to offer better security and protection to users.

Today is the best time to join the ImpulseVen decentralized finance revolution  

Decentralized finance (DeFi) is one of the greatest innovations in finance.

The Next Generation of Blockchain Infrastructure is Here

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. Today, decentralized finance is widely regarded as one of the most popular use cases for blockchain technology — with over $76 billion locked up in DeFi protocols on the Ethereum network alone.

DeFi Startup Rari Capital Reveals Details Behind Hack That Cost $10 Million in Losses

Decentralized finance (DeFi) startup Rari Capital is revealing the details behind the attack that cost 2,600 ETH, or roughly $10 million in losses.

Defi Project Rari Capital Hacked for $10M in Ether, Project’s Pool Drained for 2,600 ETH

Reports from the decentralized finance project Rari Capital detail that the protocol’s ethereum pool has experienced a recent exploit.

Yield Farming Aggregator Don-Key Gears Up for an IDO On SuperStarter

One of the promising decentralized finance (DeFi) platforms, Don-key, has raised fresh capital for expanding its product lineup.

1Inch price hits a new high as the top DEX aggregator vies for DeFi dominance

A series of protocol upgrades and new liquidity integrations prove that 1INCH is aiming to increase its DeFi and DEX aggregator market share. As the decentralized finance (DeFi) ecosystem evolves and expands to encompass the whole of the cryptocurrency sector, the race to become the top decentralized exchange (DEX) aggregator is heating up as new entrants to the field seem to emerge on a weekly basis.  One of the top DEX aggregators that has recently seen its price reach a new record high is 1Inch (1INCH), a protocol which offers “access to the most liquidity, lowest slippage and best exchange rates across Ethereum and Binance Smart Chain” according to the projet’s website.

How DeFi Is Disrupting Our Financial Ecosystem – For Good

The cumulative sum of capital invested in decentralized finance (DeFi) applications and protocols has surpassed the $64 billion mark.

MUNCH Project reaches $1 Million milestone in charitable donations

MUNCH is a Decentralized Finance (DeFi) project which has raised over $1 million USD, in ETH, in just 14 days since its launch.

Almost twice as much ETH locked in DeFi as on exchanges: Glassnode

While the amount of ETH locked in DeFi protocols is up 75% since the start of 2020, the sum of Ether held on centralized exchanges has fallen by 30% over the same period. Ether is being locked up in decentralized finance contracts at an accelerating rate this year, while the amount held on centralized exchanges continues to fall. On May 7, on-chain analytics provider, Glassnode, shared a chart comparing the number of Ether deposited in Ethereum-based smart contracts to the number of ETH held on centralized exchanges over the past 17 months. Since the start of 2020, the share of supply represented by Ether on centralized exchanges has dropped more than a quarter, from roughly 17% to 12%. Over the same period the percentage of ETH locked in smart contracts has increased by three quarters, from 13% to 22.8%, showing that DeFi is steadily eating into centralized exchanges’ profits from Ethereum trading fees. Ether supply in smart contracts vs Ether on centralized exchanges: GlassnodeFigures from crypto data aggregator DeFi Llama suggest that ETH equivalent to roughly 9% of the supply is locked in smart contracts hosted by networks other than the Ethereum mainnet. DeFi Llama estimates that 8.3 million coins or 7% of circulating Ether is locked in Binance Smart Chain protocols, while 286,153 Ether or 0.25% of supply is on Solana, and 103,902 ETH 0.09% is on Avalanche.

Democratizing Defi Data- Dechart DAO Launches Version 1.0 Trading Platform

On May 6, 2021, the total locked value (TVL) held by decentralized finance (defi) is more than $77 billion.

'Bitcoin Must Be Private By Design': Edward Snowden

Former NSA contractor Edward Snowden discussed what crypto and decentralized finance might mean for the future of privacy.

Watch These Two DeFi Trends This Quarter, Says ConsenSys

A rising number of decentralized autonomous organizations (DAOs) winning high-profile non-fungible token (NFT) auctions and an increasing dominance of flashbots on the Ethereum (ETH) network are some of the trends that could gain strength in the second quarter of 2021, according to a recent decentralized finance (DeFi) report by ETH-focused blockchain company ConsenSys.

WAVES price swells to new all-time highs, nearing $4B market cap

Real-world adoption and a growing DeFi ecosystem help lift the price of WAVES to a new all-time high. Real-world adoption and the ability to service the needs of a wide range of industries are key qualities to have for blockchain projects that seek long-term viability in an increasingly crowded and evolving landscape.  One cryptocurrency project from 2016 that has seen its price breakout to new highs in May is Waves (WAVES), a multi-faceted blockchain protocol that has seen significant growth in 2021 thanks to recent strides in decentralized finance (DeFi), nonfungible tokens (NFT) and real-world adoption.

PancakeSwap Continues Cook Rivals as Daily Transactions Close on 2M

Decentralized finance exchange PancakeSwap continues to break records for volumes and transactions, even eclipsing Ethereum.

DeFi adoption on the Binance Smart Chain reaches new highs

Decentralized finance protocols on the Binance Smart Chain saw their token prices and total value locked rise toward new highs after a series of protocol upgrades and cross-chain integrations. Decentralized finance (DeFi) has taken a well-deserved break from the spotlight over the past couple of months after being one of the hottest sectors at the start of 2021, but recent growth on several top platforms may hint at another DeFi run in the near future.  While projects that operate on the Ethereum (ETH) network continue to deal with wild fluctuations in gas fees and transaction times, several that operate on the Binance Smart Chain (BSC) have seen an uptick in protocol activity and token value over the past week. XVS/USDT vs.