Leveraged Yield Protocol Rodeo Finance Initially Loses $1.7 Million in ‘Force-Investment’ Hack
Bitcoin.com » Yield Farming
by Terence Zimwara
9M ago
Rodeo Finance, a leveraged yield protocol on Arbitrum, was on July 10 a victim of a “force-investment” hack in which almost $1.7 million was reportedly stolen. According to Rodeo Finance, about $810,000 has been recovered so far and there are plans to freeze the stolen funds. Protocol in ‘Paused State’ Rodeo Finance, a leveraged yield farming product, recently became the latest decentralized finance (defi) protocol to fall victim to the so-called force-investment hack after criminals stole approximately $1.7 million on July 10. As a consequence, the defi protocol has been placed in paused sta ..read more
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Decentralized Exchange Pancakeswap to Launch Version 3 Iteration in April
Bitcoin.com » Yield Farming
by Jamie Redman
1y ago
On March 4, the decentralized exchange Pancakeswap announced that the team plans to launch its version three (v3) iteration of the platform during the first week of April 2023. Pancakeswap v3 will provide new features and improve liquidity alongside enhancements in interface accessibility and the decentralized exchange (dex) platform’s yield farming experience. Pancakeswap Announces Version 3 Launch Date Pancakeswap, the multichain dex platform, announced the launch of the program’s third iteration, called Pancakeswap v3. The application is set to go live during the first week of April on the ..read more
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Defi Yield Protocol Is a Massive Boost for Yield Farmers and the Defi Space
Bitcoin.com » Yield Farming
by Media
1y ago
Since February 2020, we have seen a steady growth of the blockchain space and, most significantly, decentralized finance. While DeFi isn’t entirely new, the network’s growth has been more aggressive this year than it has ever been. The distribution of COMP governance token and the introduction of yield farming protocols around June this year has made DeFi the most engaging conversation in the blockchain space, no doubt. DeFi Yield Protocol (DYP) Decentralized finance has only grown this much because of the control and ease it offers users. By allowing users to utilize traditional banking and ..read more
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Robinhood Debuts Web3 Crypto Wallet to 10K Customers — Beta Version Supports Polygon
Bitcoin.com » Yield Farming
by Jamie Redman
1y ago
The American financial services company headquartered in Menlo Park, California, Robinhood Markets, Inc., announced the launch of a new non-custodial Web3 crypto wallet on Tuesday and said the product supports the Polygon blockchain network. The application is currently for iOS users only and Robinhood is rolling out the beta version of the Web3 wallet to 10,000 clients on the company’s waitlist. Robinhood Launches Beta Web3 Crypto Wallet to 10,000 Select Customers During the last 12 months, Robinhood Markets has shown a strong interest in building cryptocurrency products and services. At the ..read more
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Total Value Locked Across Defi Nears $200 Billion, Non-Ethereum Projects Gather Steam
Bitcoin.com » Yield Farming
by Jamie Redman
1y ago
At the time of writing, the total value locked (TVL) in decentralized finance (defi) is around $176 billion across various blockchains like Ethereum, Binance, Terra, Polygon, Solana, and Avalanche. While Ethereum commands $130 billion of the aggregate total locked, a myriad of other defi-fueled blockchains continue to see TVLs steadily rise. Total Value Locked Across All Defi Compatible Blockchains The total value locked (TVL) in defi today has risen to $176.9 billion with a change of 1.07% during the last 24 hours, according to defillama.com statistics. The TVL has been steadily nearing the ..read more
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Flash Loan Attacks Drain 2 Binance Smart Chain Defi Projects for $6 Million
Bitcoin.com » Yield Farming
by Jamie Redman
1y ago
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. Last Wednesday, the yield-farming platform Pancakebunny lost close to $3 million in a flash loan attack according to reports. The following Sunday, Bogged Finance saw $3 million exploited from a flash loan attack. Pancakebunny Gets Hit by a Flash Loan Attack – $3 Million Drained Ever since hackers leveraged flash loans to attack the defi margin trading protocol Bzx, flash loans have been a common attack in the defi world. Flash loans ..read more
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The Money Roundup: Making Cents of Blockchain Fundraising News
Bitcoin.com » Yield Farming
by Reuben Jackson
1y ago
From crypto trading to defi, the most exciting areas in blockchain fintech development and innovation are attracting serious investments from all industry corners. To introduce more tools and complementary services to the ecosystem, the recipients of these capital allocations are endeavoring to promote greater adoption by removing many existing participation obstacles and taking a more mass-market approach. Projects Focused on Usability and User Experience Lead the Charge Between Atani’s all-in-one trading infrastructure, Enso’s decentralized finance (defi) strategy sharing platform, Don-Key ..read more
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YfDFI Finance: Much Anticipated Farming Platform Released
Bitcoin.com » Yield Farming
by Media
1y ago
PRESS RELEASE. As of today, YfDFI Finance is launching not one, not two, not three but four farming pools, locking up a huge chunk of its circulating supply. The team could not have achieved this without the continuous support from the community. Starting off 2021 the right way! “Our team has been working tirelessly throughout the holidays to live up to the community’s expectations. Internally, our mantra the past couple of months has been: ‘Underpromise and overdeliver’. With overwhelming support from our community, we have reached every single milestone on our roadmap so far, mainly within ..read more
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Proof-of-Work and Yield Farming: Binance and Poolin Launch Tokens Backed by Bitcoin Hashrate
Bitcoin.com » Yield Farming
by Jamie Redman
1y ago
There’s a new type of token gaining popularity in the crypto space with the launch of coins that are backed by a specific amount of proof-of-work (PoW) hashrate. On January 6, 2021, Binance launched a new project called the bitcoin standard hashrate token (BTCST), a coin that represents 0.1 terahash (TH/s). Furthermore, the mining operation Poolin has also revealed a hashrate token called pBTC35A and each token represents 1 TH/s hashrate with pre-determined SHA256 processing power. Tokens Backed by Proof-of-Work The Bitcoin (BTC) network has seen the protocol’s hashrate increase significantly ..read more
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Introducing MoonDeFi, a New Part of Decentralized Finance
Bitcoin.com » Yield Farming
by Media
1y ago
PRESS RELEASE. Centralized exchanges have been the backbone of the cryptocurrency market for years. They offer fast settlement times, high trading volume, and continually improving liquidity. However, there’s a parallel world being built in the form of trustless protocols. Decentralized exchanges (DEX) require no middlemen or custodians to facilitate trading. Due to the inherent limitations of blockchain technology, it has been a challenge to build DEXes that meaningfully compete with their centralized counterparts. Most DEXs could improve both in terms of performance and user experience. Bas ..read more
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