Malicious Actors Drain Over $135 Million from Ethereum and BNB Chain in Q2, 2023
The rise of the crypto industry has led to an increase in theft scams and "rug pulls," which remain a concern. The Q2 2023 Web3 Security Report by CertiK revealed that malicious actors stole $313 million from DeFi during the quarter, with over 100 incidents occurring on the BNB Chain resulting in user losses of around $71 million.
On-Chain Derivatives Set to Become Next Big Growth Sector in DeFi, Says Apollo Capital CIO
Henrik Andersson, the CIO of Apollo Capital, predicts that on-chain derivatives will be the next major growth sector in DeFi due to the increasing popularity of decentralized spot trading. He believes that on-chain derivatives have the "best product-market fit" in the DeFi space and sees a high growth opportunity for them. Andersson also mentioned two emerging market sectors that have caught his attention: NFTFi, which blends NFTs and DeFi, and LSDFi, which allows investors to borrow, speculate, and hedge against their LSD tokens. He emphasized the need for a more diversified environment in the LSD space to combat centralization among certain staking providers.
Liquid Staking Dominance: How Lido's Success Raises Concerns of Centralization in Ethereum's Ecosystem
Liquid staking is a popular concept in the crypto space, allowing users to access DeFi through wrapped tokens in exchange for staking ETH. This innovation originated in the Cosmos app chain ecosystem but gained traction in Ethereum's community as a way to prevent centralized exchanges from holding too much staking power.
Demand for Liquid Staking Surges in Solana Ecosystem as Ethereum Remains DeFi King
Demand for liquid staking has surged by 91% in the Solana ecosystem, with protocols like Marinade Finance, Lido, Jito, JPool, and Socean holding $187 million in staked SOL tokens by the end of June. This comprises most of the $270 million currently locked in Solana's DeFi ecosystem. However, Ethereum remains the king of DeFi with $26 billion out of $44 billion locked across the industry.
Osmosis Co-Founder Impressed by Night Market, a Private Trading Pool with ZCash-Style Shielding
Sunny Aggarwal, co-founder of Osmosis, has praised the innovative developments in the Osmosis ecosystem that he saw at the Delphi Cosmos Hackathon. He particularly highlighted Night Market, a private trading pool that uses ZCash-style shielding for depositing assets.
stETH's Popularity Rises as Supply on Exchanges Declines and Ethereum's Daily Chart Turns Red
July 5 (Cointime) - The popularity of stETH has been increasing, with more new addresses holding the token and its dominance in DeFi capital flows suggesting it has become a preferred collateral asset.
Unlocking DeFi's Potential on Bitcoin while Preserving Protocol Security and Decentralization
How Stacks brings DeFi on Bitcoin in a decentralized and trustless manner
Firedancer Validator Client Aims to Improve Solana's DeFi State, Despite TVL Decline
July 2 (Cointime) - Solana's new validator client, Firedancer, built by Jump, could potentially improve the state of Solana's DeFi by reducing latency times and enhancing the scalability and usability of decentralized applications. This could attract more participants to the network and expand the ecosystem, fostering greater adoption of Solana-based DeFi protocols.
Crypto VC Funding Sees Distinct Slowdown, Public Investment Hits Two-Year Low
July 2 (Cointime) - Recent data from RootData shows a slowdown in public investment from crypto venture capitalists, with June recording only 83 deals - a 14% decline from the previous month and a 44% plunge year-on-year. Infrastructure accounts for the most significant chunk of funding, followed by NFT/GameFi and DeFi.
