DeFi

Layer-two protocols have seen 330% growth this year in terms of active addresses. One such protocol, Polygon, has briefly surpassed Ethereum, the network for which it is a scaling solution. Many of these new users may be engaged due to the upcoming mobile gaming app Arc8. Polygon, a layer 2 aggregator, has encountered an immense…

Developers are flocking to the platform’s blockchain, but nimbler rivals are emerging, Richard Waters writes on FT. Is Ethereum the future of the internet? Interest in the Ethereum blockchain has soared over the past year, as developers have turned to it to create a wave of decentralized finance projects, known as DeFi, and unique digital…

Chainanalysis has attempted to measure the adoption of decentralized finance worldwide and issued the Global DeFi Adoption Index, where compiled statistics show an 880% increase in the usage of DeFi. However, crypto is not so close to becoming mainstream as some developed markets become reluctant on the crypto market. Instead of using the usual metrics…

On Wednesday, soon after executing the upgrade, patching minor bugs, Compound Labs reported “unusual activity,” resulting in some users being able to get more COMP tokens than allowable. A bug in the code posed $80 million worth of COMP at risk of unfair distribution. The incident may lead to a COMP price crash. According to…

According to a Chainalysis report, Central, Northern, and Western Europe (CNWE) have become the world’s biggest crypto economy. Over the last year, the region has received over $1 trillion worth of cryptocurrency, reaching 25% of all global activity. The tremendous growth that started in July 2020 pushed Europe from second to first place since last…

Input Output recently announced that it would leverage Chainlink’s decentralized oracles to make it easier for developers to access real-world databases, paving the way to build DeFi applications on Cardano’s blockchain. Although sentiment surrounding the partnership has been positive, the native tokens for both projects have failed to react. Input Output Hong Kong (IOHK), the…