Augur v2 Launches

The Augur v2 protocol contracts have been successfully deployed to the Ethereum Mainnet. The contracts have been verified on Etherscan, and the deployers address can be found here [https://etherscan.io/txs?a=0x4925dc0baf2bcf7d20b19f5b2fc2be44e3806931]. The new REPv2 token contract address can be found deployed at the contract address below: REPv2 Token Contract: 0x221657776846890989a759BA2973e427DfF5C9bB [https://etherscan.io/address/0x221657776846890989a759BA2973e427DfF5C9bB] Exchanges, wall

Source: Augur v2 Launches

MakerDAO becomes first DeFi protocol to hit $1 billion in total value locked

https://www.theblockcrypto.com/linked/72959/makerdao-becomes-first-defi-protocol-to-hit-1-billion-in-total-value-locked?utm_source=rss&utm_medium=rss

MakerDAO, a non-custodial lending protocol, has become the first decentralized finance (DeFi) protocol to hit $1 billion in total value locked.

The milestone means MakerDAO users have $1 billion worth of funds locked in the protocol for lending purposes. With that mark, MakerDAO now dominates the DeFi space with nearly 28% share, according to tracker DeFi Pulse.

MakerDAO is followed by Compound and Synthetix, which have ~$764 million and ~$423 million in total value locked, respectively, per the tracker. Aave, Balancer and Curv Finance are part of the top 10 protocols.

Overall, DeFi protocols now have over $3.60 billion in total value locked. It didn’t take much time for these protocols to reach that number. Just earlier this month, the total amount locked was $2 billion, and this February, it was $1 billion.

As The Block previously reported, one needs to take the total value locked with a grain of salt as it does not take into consideration vertical-specific parameters, such as decentralized exchange (DEX) volumes. The Block’s Open Finance Index (OFI), developed by Matteo Leibowitz, accounts for those parameters to reflect the real picture of the DeFi ecosystem.

The OFI has also grown sharply — over ten times — within the last month. 

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Binance Lists Synthetix SNX: DeFi Tokens Enter CeFi

https://defirate.com/binance-snx/

Binance – the leading cryptocurrency exchange – has listed Synthetix‘s native token SNX.

This listing makes a major turn for DeFi tokens, many of which operated primarily on DEXs like Uniswap or obscure secondary exchanges like KuCoin and BitMax. While this made for a more educated set of buyers due to the notion of becoming familiar with token economies like SNX, this Binance listing solidifies that major exchanges are now keeping a close eye on DeFi.

As pointed out on Twitter, the listing of SNX is interesting as it’s the second major new DeFi token listed on Binance following COMP, an interesting choice over something like MKR which has yet to be listed. The listing comes shortly after Binance acquired CoinMarketCap, a leading price tracker site that recently added a “DeFi” section to easily filter projects for those with DeFi ties.

Why Should I Care?

For DeFi token enthusiasts out there, we have long since become acquainted with using DEXs like Uniswap as the primary means of purchasing new tokens. Plus, with added liquidity incentives like those offered on Mintr by Synthetix, the capacity to acquire SNX has largely become second nature.

However, this listing offers up SNX to an entirely new audience of traders, many of which who have either never heard of DeFi, or are just starting to hear about it for the first time. As the community pointed out, this retail onramp should increase the capacity for new tokeholders to participate in the Synthetix ecosystem, simply by purchasing SNX or using it as a launchpad to take place in the sUSD minting process.

Backed by Coinbase‘s recent announcement considering new assets (virtually all of which were DeFi tokens), we can see this wave of CeFi interest as a sure sign that DeFi is not going anywhere anytime soon.

Synthetix Surges

Following the release of binary options, Synthetix is enjoying exponential growth in terms of both TVL and the amount of sUSD being minted. For those unfamiliar, SNX primary utility is to be used as collateral to mint the platform’s native stablecoin – sUSD. Now that the price of SNX has gone parabolic, the capacity for stakers to issue more sUSD is increasing by the day, with $31M currently in existence at the time of writing.

While the leading DeFi derivatives platform still has a ways to go before it’s making major headway in CeFi circles, we’re seeing signs left and right that the crypto industry at large is keeping a close eye on Synthetix.

To stay up with Synthetix, follow them on Twitter or join the conversation on Discord!

<span data-sheets-value=”{“1″:2,”2”:”<script>(function() {
window.mc4wp = window.mc4wp || {
listeners: [],
forms: {
on: function(evt, cb) {
window.mc4wp.listeners.push(
{
event : evt,
callback: cb
}
);
}
}
}
})();
</script><form id=”mc4wp-form-2″ class=”mc4wp-form mc4wp-form-151″ method=”post” data-id=”151″ data-name=”Email List Signup” ><div class=”mc4wp-form-fields”><p>
<bold> Sign up for This Week in DeFi</bold>
</p>

<input type=”email” name=”EMAIL” required=”” placeholder=”Email Address”><input type=”submit” value=”Subscribe”></div><label style=”display: none !important;”>Leave this field empty if you’re human: <input type=”text” name=”_mc4wp_honeypot” value=”” tabindex=”-1″ autocomplete=”off” /></label><input type=”hidden” name=”_mc4wp_timestamp” value=”1594316522″ /><input type=”hidden” name=”_mc4wp_form_id” value=”151″ /><input type=”hidden” name=”_mc4wp_form_element_id” value=”mc4wp-form-2″ /><div class=”mc4wp-response”></div></form>“}” data-sheets-userformat='{“2″:513,”3”:{“1″:0},”12”:0}’>

Sign up for This Week in DeFi

The post Binance Lists Synthetix SNX: DeFi Tokens Enter CeFi appeared first on DeFi Rate.

Tether leads $10 million investment into DeFi lending network Celsius

https://decrypt.co/33160/tether-leads-10-million-investment-into-defi-lending-network-celsius

The Celsius Network today announced that the stablecoin company, Tether, is the lead investor in its $10 million funding round. 

The Celsius Network network is a lending platform that uses the Ethereum blockchain. It manages over $680 million and has paid more than $17 million in interest to the owners of i100,000 active wallets, it claims. 

Tether is the lead investor in a funding round for $10 million, which wasn’t open to the public. The sister company of crypto exchange Bitfinex, Tether mints an eponymous dollar-pegged stablecoin, also referred to as USDT. It has issued over $9 billion tokens

Tether sunk the most amount of money into Celsius during this funding round. Celsius did not disclose the names of other investors, though mentioned that Tether is the first institution to partake. Celsius didn’t give any of its investors board seats.

“We are excited by the investment from Tether International as it will help us deliver USDt-based services to all our users,” said Celsius CEO Alex Mashinsky in a statement. “We are proud to add Tether International as the first institution to participate in our equity fundraising.”

An additional $5 million was up for grabs for retail investors, who could buy equity for as little as $1,000 through BnkToTheFuture, an investment crowdfunding platform with over 85,000 users. (Think Kickstarter for funding rounds.)

Crypto startup Opyn rides DeFi wave to $2 million funding round

Wha-tether next?

The investment is one of the first times Tether has invested in decentralized finance, or DeFi. In March, Tether invested in Aave, a DeFi lending platform that offers flash loans. Flash loans give users access to uncollateralized loans, meaning they can be used to raise lots of money very quickly. 

Tether, though, has a controversial history. It’s currently under investigation by the New York Attorney General, which alleges that its sister company, Bitfinex, used funds from Tether’s reserves to cover up an $850 million hole in its finances. 

But money’s money.

Opyn Closes $2.16M Seed Round for DeFi Options Protocol & Opyn V2

https://defirate.com/opyn-seed-round/

Opyn – a rising options protocol – has just closed a $2.16M seed round lead by Dragonfly Capital.

For those unfamiliar, Opyn has been making strong headway with their ETH options, giving users the ability to buy or sell puts and calls on different ETH prices using a native token wrapper called oTokens.

If you’re looking to brush up on Opyn, check out our tutorial on how to get started.

Today, their vision expands tenfold with the closing of a $2.16M seed round from leading DeFi investors like Dragonfly Captial, 1kx, DTC Capital (Spencer Noon), Version One Ventures, Uncorrelated Ventures, and A.Capital. Opyn’s seed round also brings top angel investors like Balaji Srinivasan, Robert Leshner, and Linda Xie – a strong testament to the appetite for the rising options protocol.

What’s to Know?

A few months ago, we sat down with Opyn’s cofounder – Aparna Krishnan – to discuss the status of the protocol and all the novel ways it was being used. Beyond understanding how puts and calls work, we dove into the ability to arbitrage covers on centralized counterparts like Deribit using Uniswap and the possibility for new asset types in the near future.

While the announcement of the seed round only foreshadows the upcoming launch of Opyn V2, it’s been stated that the new version of the protocol will feature margining for capital efficiency, options spreads and combo positions. Plus, as anyone in DeFi might have guessed, it’s been hinted that V2 will lay the foundation to add governance (and potentially a native Opyn token) over the course of the next year.

Underpinning this round is the exciting premise of being able to purchase options on a vast majority of ERC20 tokens, so long as there are backers on each side of the position. What this creates is a way to short DeFi tokens in an entirely permissionless fashion, all while being able to earn a return from providing liquidity in the form of stablecoins.

As if the rising narrative of yield farming wasn’t enough, Opyn is quickly starting to turn heads with all the different ways savvy investors can capture upside from trading in line with changing market trends.

DeFi Insurance Heats Up

While many are quick to compare Opyn to Nexus Mutual, it’s important to note that both platforms are inherently different. You can think of Opyn as a means of hedging against price volatility while Nexus is more a way to protect against smart contract risk.

The key takeaway here is that regardless of whether you fancy Opyn or Nexus Mutual (both of which have specialized advantages) we’re starting to see more ways for DeFi traders to protect themselves from unforeseen risk using sophisticated new financial primitives.

Back by one of the most cunning teams in DeFi, there’s no doubt in our mind that Opyn is in for a very bright road ahead.

To stay up with Opyn, follow them on Twitter or join the conversation on Discord.

<span data-sheets-value=”{“1″:2,”2”:”<script>(function() {
window.mc4wp = window.mc4wp || {
listeners: [],
forms: {
on: function(evt, cb) {
window.mc4wp.listeners.push(
{
event : evt,
callback: cb
}
);
}
}
}
})();
</script><form id=”mc4wp-form-2″ class=”mc4wp-form mc4wp-form-151″ method=”post” data-id=”151″ data-name=”Email List Signup” ><div class=”mc4wp-form-fields”><p>
<bold> Sign up for This Week in DeFi</bold>
</p>

<input type=”email” name=”EMAIL” required=”” placeholder=”Email Address”><input type=”submit” value=”Subscribe”></div><label style=”display: none !important;”>Leave this field empty if you’re human: <input type=”text” name=”_mc4wp_honeypot” value=”” tabindex=”-1″ autocomplete=”off” /></label><input type=”hidden” name=”_mc4wp_timestamp” value=”1592843528″ /><input type=”hidden” name=”_mc4wp_form_id” value=”151″ /><input type=”hidden” name=”_mc4wp_form_element_id” value=”mc4wp-form-2″ /><div class=”mc4wp-response”></div></form>“}” data-sheets-userformat='{“2″:513,”3”:{“1″:0},”12”:0}’>

Sign up for This Week in DeFi

The post Opyn Closes $2.16M Seed Round for DeFi Options Protocol & Opyn V2 appeared first on DeFi Rate.

Cypto Investment Firm ParaFi Capital Invests In KNC To Boost Decentralized Liquidity Growth For DeFi

https://blocktribune.com/cypto-investment-firm-parafi-capital-invests-in-knc-to-boost-decentralized-liquidity-growth-for-defi/

Cypto asset investment firm ParaFi Capital has invested in Kyber Network Crystal (KNC), an ERC-20 token and an integral part of Kyber Network, through a direct purchase from the Kyber team earlier this year.

Based in San Francisco, ParaFi Capital is crypto investment firm with a fundamental, multidisciplinary approach to investing in the blockchain and decentralized finance ecosystem. ParaFi is uniquely positioned as both an investor and power user of DeFi protocols. They are early-stage investors in many of the leading DeFi projects including MakerDao, Compound, and now Kyber Network.

Kyber Network is a ethereum-based protocol focused on aggregating liquidity and facilitating swaps for ERC-20 tokens. Using its payment APIs, users can send one token to a recipient who wishes to receive the payment in another token in a single transaction. Users can also mitigate the risks of price fluctuations in the cryptocurrency world with the company’s derivative trading.

As part of the deal, ParaFi and Kyber will work closely to prepare for the launch of KyberDAO,, a decentralized community platform that allows KNC token holders to participate in protocol governance, and accelerate the adoption of Kyber’s on-chain liquidity protocol. Through this partnership, Kyber will be able to leverage ParaFi Capital’s experience in DeFi and their deep connections in the investing and market-making spaces to build a robust liquidity infrastructure and governance framework as well as grow Kyber’s taker and maker ecosystems.

“ParaFi Capital has been a driving force in the governance and growth of DeFi,” said Loi Luu, CEO of Kyber. “With their support and active participation in the KyberDAO, we are confident that we can bring Kyber’s role as the liquidity layer for DeFi to the next level.”

According to Kyber, ParaFi will participate in governance by staking KNC and voting in the KyberDAO and engaging in critical discussion with the community to help Kyber’s growth. Since ParaFi shares Kyber’s desire to enhance decentralized liquidity for DeFi by bridging the gap between professional market makers and on-chain market-making, ParaFi will connect professional market makers to DeFi through Kyber’s unique liquidity providing system called Fed Price Reserve (FPR).

“We have been working closely with the Kyber team on their crypto-economic re-design and transition to a DAO with Katalyst,” said Santiago Roel Santos, Partner at ParaFi Capital. “Kyber’s growth trajectory and breadth of integrations across the DeFi stack are impressive, as it evolves to become a liquidity protocol for the ecosystem.”

Coinbase Pro Announces Support for Compound’s DeFi Token COMP

https://cointelegraph.com/news/coinbase-pro-announces-support-for-compounds-defi-token-comp

United States cryptocurrency exchange Coinbase Pro announced the listing of COMP, the token powering the decentralized lending protocol Compound.

United States cryptocurrency exchange Coinbase Pro announced the listing of COMP, the token powering the decentralized lending protocol Compound.

According to a Thursday announcement, COMP trading will start on June 23 at 9 a.m. Pacific Time if the liquidity requirements are met. Furthermore, users will be able to deposit their COMP tokens the day hours before the trading activity is scheduled to start.

Trading will start progressively

After a sufficient — and unspecified — supply of COMP tokens make their way to Coinbase Pro, the exchange will progressively roll out trading functionality for the tokens. There will be two trading pairs including the token in question, namely the COMP/Bitcoin (BTC) and COMP/U.S. dollar pairs.

Initially, the pairs will be available in post-only modes. Limit orders will be allowed sometime thereafter. Once the firms expectations for what constitutes a healthy market are met by the pairs, full trading with the market, stop and limit orders will start.

Compound is an Ethereum-based decentralized finance protocol that allows its users to borrow tokens or deposit them in exchange for interest. The announcement notes that “COMP is not yet available on Coinbase.com” which possibly implies that Coinbases popular retail crypto exchange will also list the token.

New DeFi protocol brings Bitcoin Cash, Zcash swaps to Ethereum

https://decrypt.co/30257/new-defi-protocol-bitcoin-cash-zcash-swaps-ethereum

A new liquidity protocol is bringing Bitcoin, Bitcoin Cash and Zcash to the Ethereum ecosystem.

Ren announced today their decentralized finance (DeFi) product RenVM is live on the Ethereum mainnet. RenVM enables private, permissionless value swaps between blockchains, using a decentralized set of programmatic custodians to transfer assets without a centralized authority.

RenVM will initially bring BTC, BCH, and ZEC to the Ethereum blockchain, providing groundbreaking liquidity between blockchains using smart contract technology.

“In a next-generation financial system where cryptocurrencies are mainstream, blockchains must enable cross-chain value transfer across their respective protocols, and Ren is setting out to provide this catch-all utility,” said Loong Wang, CTO and co-founder of Ren.

Ren raised over $33 million in a 2018 ICO led by Polychain Capital, FGB, and Huobi Capital for a trade order management product that eventually evolved into work on RenVM. RenVM is also supported by the Ren Alliance, a group of more than 50 organizations contributing to the security, utility, and development of RenVM. Prominent members of the Ren Alliance include IDEX, Kyber, bZx, Aave, and more. Members of the Ren Alliance represent thousands of potential users for the new protocol.

“DeFi is all about removing the need for trusted intermediaries, and RenVM provides core infrastructure for DeFi to live up its founding ethos,” said decentralized exchange IDEX CEO Alex Wearn. “Our vision at IDEX is to enable our customers to trade any cryptocurrency without having to trust anyone else with custody of their funds, and RenVM brings us one step closer to that goal.”

DeFi on the path to disrupt traditional finance

RenVM launched today on the Ethereum mainnet, but the protocol is designed to be applied to other blockchains like Tezos or Polkadot. The project uses a similar technique of wrapping and burning tokens on different blockchains to that used to create WBTC. However, RenVM is a fully decentralized protocol for performing these types of value transfer as opposed to the WBTC implementation that relies on trusted third parties.

“Our goal is for RenVM to function as a bridge between not only Bitcoin and Ethereum, but any imaginable pair of blockchain-based tokens, including stablecoins like Libra and China’s digital yuan,” Wang said.

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Uniswap goes live with v2 of its non-custodial exchange protocol

https://www.theblockcrypto.com/linked/65566/uniswap-v2-defi-goes-live?utm_source=rss&utm_medium=rss

The next-generation version of Uniswap, the non-custodial exchange protocol, has gone live.

The team behind the Open Finance protocol unveiled its plans for v2 in late March, as The Block reported at the time. The new version introduces features like ERC20 pairs, more manipulation-resilient price oracles and flash swaps, among others. Testing environments for v2 were previously available on the Ropsten, Rinkeby, Kovan and Görli testnets.

The Uniswap team announced v2’s deployment on the Ethereum mainnet in a Monday blog post, which highlighted the v2 audit report as well as details about the new version. The blog post also included links for the v1-to-v2 liquidity migration portal, v2 analytics and “an updated interface for swapping and liquidity provision on Uniswap V2.”

As noted by The Block’s Matteo Leibowitz, Uniswap saw its busiest quarter ever in Q1 2020, when its volumes surged more than 225% compared to the final quarter of 2019. Much of that volume was driven by activity spurred by market turbulence in mid-March – including the so-called “Black Thursday” event. And while volumes dipped comparatively in April, those metrics indicate that May will see around $100 million in volume. 

The team behind Uniswap raised a seed funding round last April, as The Block reported, drawing support from firms including VC company Paradigm. Coinbase also invested in the protocol directly via an infusion from its USDC Bootstrap Fund. 

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

General Protocols DeFi Startup Raised $1 Million in Seed Round

https://insidebitcoins.com/news/general-protocols-defi-startup-raised-1-million-in-seed-round/259855

General Protocols, a Decentralized Finance (DeFi) startup, aims to bring the power of DeFi to Bitcoin Cash, or BCH. This comes after the startup managed to raise over $1 million in the funding round.

New DeFi Project On BCH

With this funding round finished, the Singapore-based team will now be capable of developing their flagship product on the BCH network: AnyHedge. The AnyHedge tool is an open-source derivatives tool that allows OTC desks and exchanges to imbed it into their platform. This, in turn, will enable them to create whole new markets through the use of smart contracts.

The funding itself for the seed round came from many investors, including big names like the “thought leader” of BCH, Molecular. Alongside him stands names like Marc De Mesel, with the team itself, including two former employees of Bitcoin.com. Alongside this, the group holds members that helped the development of Flipstarter.cash, a voluntary BCH cash fundraising project.

Australian Crypto Merchants See Trade with BCH Surging 97%

The Mandatory Public Statement

DeFi, in particular, references the use of financial smart contracts, digital assets, decentralized applications (DApps), and protocols built within various blockchain networks across the world.

John Nieri stands as the President of General Protocols, and is also known by the handle emergent_reasons. He expressed his company’s delight that aligned investors are showing support for the vision that General Protocols holds in bringing BCH into the DeFi space. He stated that General Protocols is building a team that gives its dedicated support to the concept of peer-to-peer electronic cash.

Trying To Play Ethereum’s Game

Bitcoin Cash is facing an uphill battle when it comes to hosting DeFi tools on its network, due to the effects the network has on Ethereum-based projects. As it stands now, Ethereum is the undisputed leader of the DeFi space, with defiprime.com showing that 199 of 213 listed DeFi projects are built on the Ethereum network. This leaves only 10% for all other platforms, like Tron (TRX), EOS, as well as Bitcoin (BTC).

Back in February this year, the DeFi market hit an all-time high of $1.24 billion in value locked into the industry. This dropped back down to $887 million in value at the time of writing, with an overwhelming 99% of these projects based on the Ethereum blockchain. The Lightning Network of Bitcoin has only managed to garner 1.05% of the total locked value, attributing to $9.3 million in value.

BCH is adapting, however, creating its own version of a generic ERC-20 token through the use of the Simple Ledger Protocol. As it stands now, only 30 SLP tokens have been made, with Tether, the world’s largest stablecoin, launching on the BCH network as well.

The post General Protocols DeFi Startup Raised $1 Million in Seed Round appeared first on InsideBitcoins.com.

BlockFi releases mobile app for Bitcoin savings and loans

https://decrypt.co/28084/blockfi-releases-mobile-app-bitcoin-savings-loans

BlockFi clients looking to invest in or loan out Bitcoin can now do it from the comfort of their phones.

BlockFi today announced it released a mobile app for retail investors. The app is currently in public beta. Users can try limited features like account signups, deposits and management of interest accounts, and monitoring transactions, loans, and profile settings.

Screenshot of the new BlockFi mobile app.
Screenshot of the new BlockFi mobile app. Image: BlockFi

The final public release, slated for June, will expand its functionality to cryptocurrency and stablecoin trades, applications and funding of loans, wire transfers, and changes to profile settings. The beta app is now available to download on iOS and Android.

BlockFi CEO Zac Prince told Decrypt the app was created “to make cryptocurrencies more palatable and approachable for mainstream consumers,” meaning the ecosystem feels “familiar to offset what isn’t.”

“People use mobile apps to control their investments and their bank accounts—and that’s exactly what Bitcoin and other cryptocurrencies are,” Prince said. “Managing your digital assets can’t be relegated to sitting [at] a computer desk—it needs to be convenient and accessible with a friendly user experience.” 

Prince said the new app is “crucial” to BlockFi’s overall business strategy, and his team made it a point to keep it light. The app is “is conservative on memory and consistent with memory loads of other mobile apps from financial institutions and crypto companies,” he said.

Another view of the new BlockFi mobile app.
Another view of the new BlockFi mobile app. Image: BlockFi

The release of the app marks a major milestone for the company, according to its CEO. The idea is that it’ll go a long way to making crypto “more accessible, help it feel like money and place it in an environment that people will understand,” said Prince.

Crypto lender BlockFi poaches American Express, Credit Suisse execs

Next up for BlockFi this year will be the release of a Bitcoin rewards credit card, which Prince said clients will be able to fully manage from the mobile app. BlockFi recently hired a former American Express executive, Wittney Rachlin, to lead the card’s development and launch. The company also raised the interest on its Bitcoin savings account in March. 

BlockFi hires former American Express exec as it gears up for bitcoin rewards card launch

https://www.theblockcrypto.com/post/63768/blockfi-american-express-credit-suisse-execs-bitcoin-card?utm_source=rss&utm_medium=rss

BlockFi has been on a hiring spree, and its hiring of a former American Express executive shows that it is inching closer to launching a bitcoin rewards credit card.

The firm announced today that it has brought on former American Express vice president Wittney Rachlin as chief growth officer, who will lead business development for the new card product that is slated to launch later this year.

Prior to BlockFi, Rachlin spent 12 years at credit card giant American Express, where she led the growth strategy of four cards that accounted for 20% of American Express’ total billings, according to Rachlin’s LinkedIn. As such, BlockFi is hoping to leverage Rachlin’s experience as it gears up for its own credit card launch. Before joining BlockFi, Rachlin spent two years at Prudential Financial. 

“Between the marketing, the rewards program, and payment processing, there’s a lot that goes on in the backend of card processing and servicing that requires the need to connect with partners. The pandemic has slowed some of the partners down a bit,” said CEO Zac Prince. 

According to Prince, BlockFi is on track to launch the first round of cards in Q4 of 2020. The initial batch will be distributed among BlockFi employees and other strategic clients to start, while the full card launch is scheduled for 2021. 

It’s unclear at the moment whether it will charge an annual fee, but Prince said if they did decide to implement one, the card would likely offer incremental rewards that corresponded to different spending levels. The card will also initially target prime borrowers. 

The credit card is part of BlockFi’s larger plan to evolve into a full-fledged financial services firm. In February, BlockFi announced a $30 million Series B led by Valar Ventures, with participation from Morgan Creek Digital, CMT Digital, and others. At the time, CEO Zac Prince told The Block that the firm would “be associated less and less with the crypto lending category and more and more be identified as a diversified financial-services entity.”

Indeed, the firm launched a retail brokerage service last year and is in the process of rolling out its own native app recently. It recently hit all-time highs across funding accounts and loan volumes, and now count more than 100 employees, according to Prince.

BlockFi has also added former Credit Suisse director David Olsson is its new global managing director. Olsson will focus on BlockFi’s institutional business. At Credit Suisse, Olsson ran a private banking team that focuses on ultra-high-net-worth clients. 

The firm has also announced that it has hired three new directors to its team to fuel business strategy and operations. Rob Margolis, formerly of LedgerX, is now BlockFi’s Director Institutional Services; Mitch Port was hired from Kraken to serve as Director of Strategy and Analytics; and Dylan Stigliano, formerly product operations and strategy manager at Petal, joins BlockFi as Director of Business Operations.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The Maker Foundation Forms a New Board of Directors

https://blog.makerdao.com/the-maker-foundation-forms-a-new-board-of-directors/

As part of its commitment to bootstrapping MakerDAO, the Maker Foundation is pleased to announce the next phase of its board of directors. The most recent members of the board, who have provided exceptional guidance since March 2019, will shift their focus inward and continue to work with the Foundation. 

The Maker Foundation’s new board of directors, appointed on April 27, 2020, consists of two highly qualified independent members and two well-known members of the current Foundation team—Rune Christensen, Co-founder of MakerDAO and current CEO of the Maker Foundation, and Steven Becker, COO and President of the Maker Foundation.  

New member and Board Chairperson Tonya M. Evans, Associate Dean of Academic Affairs and Professor of Law at the University of New Hampshire Franklin Pierce School of Law, directs the school’s Blockchain, Cryptocurrency and Law online professional certificate program. Her passion for financial inclusion through digital assets is a natural complement to Maker’s vision. 

“I am so honored to join this next phase of the Foundation and to lead its efforts as a member of the larger Maker community,” says Evans. “I am eager to engage in this important work with fellow members, especially at this critical moment for the ecosystem, to fulfill the board’s primary goals of community growth and decentralization, and to ensure the original vision of global financial inclusion.”

Joining Tonya as an independent board member is Shefali Roy, COO and Chief Compliance Officer of TrueLayer. Shefali boasts a wealth of experience in compliance and regulatory affairs within the financial services industry. She previously oversaw Apple’s regional compliance in Europe, the Middle East, India, and Africa, and later joined Stripe as MLRO and Chief Compliance Officer for Europe. Her experience will help Maker navigate the ever-evolving regulatory landscape.

“I’m extremely delighted to join the Maker Foundation as an independent board member,” says Roy. “As we live in an ever-changing new age of building community and economic sustainability, the Foundation is uniquely positioned to engage all Maker stakeholders and facilitate the decentralization of a global financial transaction system. I could not be more thrilled to have a seat at the table and assist  the organization in doing that.”

Recruiting two highly respected and valued voices from outside the Foundation team pool helps to ensure the board has the experience required to fuel the next phase of growth and guide MakerDAO to full decentralization with transparency and accountability. Choosing Evans and Roy also reflects Maker’s commitment to strengthen the board’s skill set and expand diversity at the Foundation. Diverse leadership is crucial, especially in the blockchain sphere of the financial services industry, a sector in which female participation is low

Board Scope 

As promised last year, the new board will provide appropriate oversight of strategic and financial direction for the Foundation. Directors will also regularly review the progress of the Foundation’s leadership in achieving strategic objectives and, when necessary, approve adjustments. Additionally, the board may seek advisors and visionaries with expertise in operating open-source projects and implementing/operating financial inclusion programs. No Foundation board member has any special or unique oversight of MakerDAO, the Maker Protocol, or the Maker Community.

In short, the board will focus the Foundation on bootstrapping a sustainable, well-controlled growth of MakerDAO, while leadership is tasked with internal day-to-day decision-making.

Finally, in conjunction with the Foundation’s Human Resources department, the new board is currently conducting a search for a third independent director.

The Path to Decentralization

Join the ongoing discussion about the path to decentralization of the Maker Protocol and more in the Maker Forum.

The post The Maker Foundation Forms a New Board of Directors appeared first on The Maker Blog.

Everest Launches a DeFi Token Curated Registry: Crypto Crunchbase

https://defirate.com/everest-tcr/

As the Ethereum ecosystem continues to thrive, there’s an increasing need for tools to keep track of the widespread amount of innovation across so many different sectors.

Today, Everest launched a decentralized registry that allows projects to provide referencable onchain data thanks to the ERC-1056 identity standard. Using the Everest subgraph, other applications can showcase project details, eventually adding things like job listing, community events and blog posts.

Not surprisingly, out of the 19 categories currently listed, DeFi has the largest number of individual projects, with 36 projects and counting. Best of all, each category can be broken down into subcategories including many of the sectors we cover here on DeFi Rate such as lending, derivatives and wallets just to name a few.

What’s the Big Deal?

While many attempts at a curated registry have been touted over the years, none have had the capacity or ability to pull it off at sheer scale.

Perhaps the most unique aspect of Everest is that anyone can add a new project for 10 DAI – largely encouraging participation from the community at large. Everest even took the time to seed the registry with 100 top projects including Compound, Maker, 0x and Aave to name a few. This means that representatives of those projects can go and claim their involvement, while others can freely challenge and vote to remove any projects they find to be ill-suited or mispresented.

“Anyone can add a project to Everest & owners can challenge projects, vote on challenges & delegate votes. This is governance at work. By decentralizing curation, Everest can be relied on as a dependable building block without giving any privileged group control over the data”

The Rise of Registries

While TCRs were all the buzz back in 2017, it’s interesting to see them starting to make noise now that the Ethereum power users have been more established.

Outside of Everest, the LAO – a for-profit limited liability organization by OpenLaw – has also launched a curated registry for projects on their radar to invest in – all in a distributed fashion. With this, it’s clear that the ability for decentralized organizations to permissionlessly control the fate of different projects is being much more well-received than being able to pay a one-time listing fee and remain on a tailored list (especially when the community has a different sentiment about that project).

The Bigger Picture

As we continue to watch new and unique governance schemas unfold, it’s clear that Etheruem’s positioning as an immutable public ledger is becoming increasingly more permanent. With projects like Everest, new users can quickly reference and discover vetted service providers who are well in-tune with the ongoing developments of the ever-changing crypto landscape.

 

While Everest currently only supports a project’s name, description, and social handles, we’re quite excited to watch the registry add support for new features like job listings, project updates, DAO proposals and more.

If one thing is for certain, they’ve definitely delivered the most compelling case for a permissionless TCR that we’ve seen to date!

To list your project on Everest, head over to https://everest.link/projects/new/ and connect with either MetaMask or Coinbase Wallet. Fill out the form and pay the 10 DAI listing feed and boom! You’re on the list 🙂

We’ll be keeping a close eye on the project and joining the registry ASAP. Until then, stay up with all things Everest via their official Twitter.

The post Everest Launches a DeFi Token Curated Registry: Crypto Crunchbase appeared first on DeFi Rate.

Binance Leverages the Elrond Blockchain for Fast & Inexpensive BUSD Stablecoin Transfers

https://medium.com/elrondnetwork/binance-leverages-the-elrond-blockchain-for-fast-inexpensive-busd-stablecoin-transfers-da73d0d5cec3?source=rss------stable_coin-5

Binance and Elrond have entered into an agreement which will make the Binance-backed BUSD stable coin available on the Elrond Network. The…

Coinbase launches price oracle for better DeFi data

https://decrypt.co/26504/coinbase-launches-price-oracle-for-better-defi-data

San Francisco-based crypto exchange Coinbase announced today the release of Coinbase Oracle, a source of signed price data for BTC-USD and ETH-USD markets sourced from the Coinbase Pro exchange. 

The Coinbase Oracle price feed updates every 60 seconds and is secured by the same Coinbase infrastructure used to store crypto assets of Coinbase customers.

The Coinbase Oracle is intended to help make the decentralized finance (DeFi) ecosystem safer by providing a secure, trusted source of price information to help reduce reliance on signed price data from less liquid exchanges or on-chain data from decentralized exchanges, both of which are susceptible to attacks by bad actors.

Antonio Juliano, CEO of dYdX, an open-source trading platform for crypto assets said: “A Coinbase Price Oracle will be hugely impactful for the DeFi ecosystem—price oracles are used in every lending & derivatives protocol. Coinbase is uniquely positioned to provide oracle prices as they’re the most trusted and secure institution in the space. These prices can be used as an input to help create more decentralized and secure price oracles for the ecosystem.”

Any third party can access Coinbase Oracle data via the Oracle API to publish on-chain because the data is already signed by Coinbase’s highly secure private key and can be verified using the public key.

Prices generated by the Coinbase Oracle API are compatible with open-source Open Oracle Ethereum smart contracts created by Compound developers used to standardize data from different oracle sources. Compound, which is backed by Coinbase’s investment arm, is a decentralized money market that sets interest rates based on supply and demand used to power a variety of different DeFi applications.

The Coinbase Oracle also uses a filtering mechanism to remove price data outliers, while Open Oracle contracts use “anchoring” to ensure data that is significantly different from the last reported price are not accepted.

According to a statement from Compound CEO Robert Leshner, the Coinbase Oracle will “increase the security and decentralization of Compound’s price feed.” He described this as “mission critical,” and not just for Compound.

“We’re not alone—the rest of DeFi will benefit with faster development, consistent data, and shared standards,” Leshner said.