Liquid Staking Needs Clear Tax Rules – The UK Shows a Possible Way Forward
In this response to the UK tax authority's Call to Evidence, we argue that we need to create clear tax rules for staking and other DeFi activities, rather than extending the current rules for securities lending to DeFi activities.
Ethereum Hits 500,000 Validator Milestone
Ethereum has reached another milestone as the number of validators on its network now exceeds 500,000, data from BeaconScan shows. Validators are essential in guaranteeing the integrity and security of the Ethereum network. They operate by consensus to process transactions on the blockchain by verifying that the conditions specified in each transaction’s smart contract code have been met. A validator must deposit 32 ETH (roughly $45,000) to run a dedicated staking node on the proof-of-stake blockchain. Today, staked funds are locked in the network, and while they accrue staking rewards from Ethereum’s inflation, validators are unable to access the funds until after the Shanghai upgrade, expected to happen in March, which will allow withdrawals of staked ether for the first time. (Blockworks)
Cosmos-Based DeFi Protocol Quasar Raises $5.4M
The collapse of multibillion-dollar centralized crypto exchange FTX has renewed focus on the promise of decentralized finance. However, DeFi still has growing pains due in part to fragmentation across multiple blockchains – a problem addressed through interoperability-focused protocols.
Ondo Finance Launches Tokenized US Treasuries, Bonds for Stablecoin Holders
DeFi firm Ondo Finance launched a tokenized fund on Jan. 10 that allows stablecoin holders to invest in bonds and U.S. Treasuries.
Arbitrum and Optimism Transactions Now Exceed Ethereum Mainnet
Ethereum layer-2 rollups Arbitrum and Optimism have seen an uptick in their daily transactions over the past few months. Ethereum, meanwhile, is seeing a slight downtrend. Arbitrum and Optimism are optimistic rollups designed to reduce the cost of transactions for the use of Ethereum dapps. Both platforms have seen an uptick in daily active users recently, data compiled by Blockworks Research shows, with Optimism recently overtaking Arbitrum for daily active addresses and transactions per day. (Blockworks)
Compound Gets Compensation but All Is Not Fair for COMP — Here’s How
DeFi lending protocol, Compound Finance [COMP], showed signs of exiting its 0.56% 24-hour decrease after Longling Capital repaid all it borrowed from the Compound pool.
Woo Network (WOO) Surges 20% as Project Announces Major Coin Burn
Woo Network is a DeFi liquidity provider for institutional platforms and has attracted equity investments from backers like Binance.
Ondo Finance Launches Three Tokenized U.S. Treasuries and Bonds
Ondo Finance, a DeFi firm offering decentralized investment opportunities, has launched tokenized versions of U.S. treasuries and bonds.
LUNC Dev Group Raises $1 Million Funding For DeFi Project That Includes Terra Classic DEX
TerraCVita has successfully raised a whopping 1 million dollars for a decentralized finance (DeFi) project named Terraport, which includes the Terra Classic community DEX.
DeFi Statistics in 2022
Nansen takes a look at how DeFi has performed and highlights interesting statistics about DeFi.
