"DeFi" is more than just giving your crypto to someone you don't know, but there are certainly risks.
One form of defi is providing liquidity. As users swap between the tokens you provide, you collect a share of the fees. No lending/borrowing, but you are giving your tokens to the platform that's providing the service--so you'd need to trust, for example, Uniswap.
Most lending platforms use collateralized borrowing. As a borrower, you you provide 3x what you're borrowing as collateral; if you don't pay it back, the platform actually makes MORE than if you did.
Those are the two most common forms of defi, in my opinion, and neither seem particularly high-risk. But you're right, you are giving your crypto to someone else just like when you give your money to a bank.
Polygon’s layer-2 solution is really great. It’s Ethereum like you want it to be: fast & cheap.
Last week, we saw Aave arrive with bonus rewards from Polygon & QuickSwap, and now we have SushiSwap joining the party. Here’s the cool thing about SushiSwap’s entry: you can earn both MATIC & SUSHI rewards at the same time!
The rewards are great, but SushiSwap’s got a lot going on even without them. They recently updated their user experience, and it’s quite good. …
That seems like a pretty ridiculous headline, right? $500 to be a millionaire certainly feels too good to be true, but that’s the exact claim Cake DeFi’s Freezer calculator is making.
Remember, like, a year ago, when it was common financial advice to stuff your liquid savings into a “high-yield” savings account so it could earn something like 1% APR? The world of cryptocurrency says, No more!
The rise of Ethereum, with its smart contracts, has ushered us into a new era of decentralized finance. The community governs the rules. The people provide the liquidity and collect the fees, and eligibility for borrowing is obtained by providing collateral rather than private evaluations based on income and credit scores.
It’s not a perfect system, though. Fees and scalability problems have plagued Ethereum…
Last weekend, VenomDAO announced that the upcoming week would be DeFi Week on Viperswap. Each day, they’re launching a new pool with a different defi token: AAVE, SNX, YFI, 1INCH, CAKE, SUSHI, & UNI.
To earn rewards, all you need to do is provide liquidity for the token of your choice paired with VIPER and stake the resulting liquidity pool (LP) token in the rewards pool once it’s available. All the operations in Viperswap are performed on the Harmony blockchain, and they’re fast with virtually no fees.
The only thing that’s maybe not so easy is getting the token you…
Less than 2 months in, though, I saw a tremendous opportunity. The Guarda team tweeted that GETH was trading on Uniswap at a rate of 1.5 GETH per ETH! I promptly pulled my funds out of SnowSwap and traded them, earning me about 1.2 SNOW and 1.47 GETH. So, that’s where the story picks up this month. (For reference, the GETH:ETH rate on Uniswap this morning was…
I remember reading about Ethereum 2.0 staking when it was announced last year. You needed 32 ETH, which is nearly $64k in today’s money, to do it — well out of reach for me, even then when ETH was only $700 or whatever it was at the time.
Leave it to the community to come up with solutions, though. Ankr, Kraken, and others offered the opportunity to stake ETH quantities as little as 0.1. This was perfect for me — I promptly staked my 1 ETH with Ankr, and I was given an ankrETH in return.
The cool thing about…
Theta Network has been very hot in the cryptocurrency & blockchain space recently. Its two tokens, THETA and TFUEL, both experienced explosive growth in March. THETA went from $3 to an all-time high of $14, earning itself a spot as a top-10 token by market cap. Similarly, TFUEL — the gas token of the Theta blockchain — grew from $0.09 to its peak value, $0.54.
Last month, I wrote an article about Brave’s Basic Attention Token and the possibilities its model holds for big media outlets like the New York Times and Washington Post. Today these companies use annoying paywalls to encourage readers to subscribe. They broadcast headlines to news aggregators, but when you click, you can’t read the article until you subscribe.
The reason behind the paywalls makes sense. Writers and their employers need to be paid, and, generally, the internet of yore provides two ways for generating revenue: ads and subscriptions. …
VenomDAO announced Viperswap’s launch on March 8. Four days later, on March 12, it had reached $1 million in total value locked (TVL). Two days later, its TVL doubled to $2.2 million, and one week after that, it had doubled again to $4.3 million.
Then, three days after that, on March 24–a mere seventeen days after its launch — Viperswap reached $10 million in TVL.
That’s quite an achievement, but how does it stack up against its predecessors? Let’s make some comparisons against today’s top 5 DEXes, as ranked by DeFi Pulse:
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