🎉Welcome to "Finance Redefined"! Highlights this week: Cryptocurrency exploit losses exceeded $300 million in September, DeFi lending protocol Yield announced it will permanently shut down in December, Polygon co-founder Jaynti Kanani quits her day job, and DeFi market price action. 🚀
💥September became the month with the largest cryptocurrency exploits in 2023, with losses as high as $329.8 million. Blockchain security company CertiK said the largest contributor came from the Mixin Network attack on September 23, which cost $200 million. 😱
🔒DeFi lending protocol Yield announced that it has decided to shut down before the end of the year due to lack of business demand and global regulatory pressure. The March 2024 fixed rate series launch has been cancelled. 👋
👨💼Polygon co-founder Jayant Kanani announced his retirement from day-to-day work on the project, planning to focus on new ventures while contributing to Polygon. 👏
🔬"Natural Science" magazine said that decentralized autonomous organizations (DAO) can help scientists find funding and community. In a DAO-based research initiative, the project’s organization, fundraising, feedback, and pipeline from discovery to product/industry can all be handled by the same decentralized governing body. 🧪
💳 Crypto payment service provider Wirex launches W-Pay, a non-custodial crypto debit card service based on zero-knowledge proofs, leveraging zero-knowledge technology and built on Polygon’s chain development toolkit to improve scalability and security. 🔐
💹The DeFi market has had a mixed week, with most of the top 100 coins trading in the same price range as last week. The total value locked in DeFi protocols fell to $45.07 billion. 📉
Thanks for reading this week’s DeFi updates! See you next week! 👋
💥September became the month with the largest cryptocurrency exploits in 2023, with losses as high as $329.8 million. Blockchain security company CertiK said the largest contributor came from the Mixin Network attack on September 23, which cost $200 million. 😱
🔒DeFi lending protocol Yield announced that it has decided to shut down before the end of the year due to lack of business demand and global regulatory pressure. The March 2024 fixed rate series launch has been cancelled. 👋
👨💼Polygon co-founder Jayant Kanani announced his retirement from day-to-day work on the project, planning to focus on new ventures while contributing to Polygon. 👏
🔬"Natural Science" magazine said that decentralized autonomous organizations (DAO) can help scientists find funding and community. In a DAO-based research initiative, the project’s organization, fundraising, feedback, and pipeline from discovery to product/industry can all be handled by the same decentralized governing body. 🧪
💳 Crypto payment service provider Wirex launches W-Pay, a non-custodial crypto debit card service based on zero-knowledge proofs, leveraging zero-knowledge technology and built on Polygon’s chain development toolkit to improve scalability and security. 🔐
💹The DeFi market has had a mixed week, with most of the top 100 coins trading in the same price range as last week. The total value locked in DeFi protocols fell to $45.07 billion. 📉
Thanks for reading this week’s DeFi updates! See you next week! 👋