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DeFi News
Cryptoslate
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Lido DAO launches its Community Staking Module to boost Ethereum decentralization
- Liquid staking protocol Lido launched its Community Staking Module (CSM) on the Ethereum (ETH) mainnet on Oct. 25.
- CSM aims to reduce barriers to Ethereum staking by allowing individuals to operate Ethereum validators with less technical know-how and a smaller Ether deposit requirement.
- CSM is currently in the “Early Adoption” phase, with the fully permissionless phase set to go live soon.
- Lido is currently the largest decentralized application by total value locked, with over $24 billion in its smart contracts.
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Medium
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Exploring Game of MITO: DeFi’s First Gamified Testnet.
- Game of MITO is a gamified testnet in the DeFi space.
- Players earn Experience Points (XP) by engaging in on-chain and off-chain activities.
- Collaboration is encouraged through crew missions and diverse team bonuses.
- The game includes leaderboards and a referral system for added competition and rewards.
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Bitcoinist
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Rep. Hill Slams Gensler’s Approach To Crypto Regulation, Demands New SEC Chair In 2025
- US Representative French Hill expressed his vision for new leadership at the SEC in 2025, advocating for innovation in the digital asset space.
- Hill highlighted the growing bipartisan support for the FIT 21 Bill, a comprehensive regulatory framework for digital assets in the US.
- He mentioned President Trump's advocacy for digital assets and the potential for advancements in legislation under the Harris campaign.
- Hill criticized Gary Gensler's performance as SEC Chair and suggested a pro-innovation leader should be appointed in 2025, mentioning Commissioner Hester Peirce as a potential candidate.
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Bitcoinist
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New Blockchain From Kraken Expected To Debut In Early 2025
- US-based cryptocurrency exchange Kraken is set to launch its own blockchain, Ink, in early 2025.
- Ink aims to facilitate decentralized applications (dApps) and improve user engagement with DeFi applications.
- The blockchain will leverage Ethereum's security and join the Superchain, a network of interconnected blockchains.
- Kraken plans to initially serve as the chain's sequencer and eventually decentralize the role.
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Cryptoslate
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Cardano unlocks Bitcoin liquidity with BitcoinOS Grail Bridge integration
- Cardano has integrated with the Bitcoin ecosystem through BitcoinOS’s Grail Bridge, unlocking Bitcoin's liquidity for its DeFi ecosystem.
- Cardano becomes the first Layer 1 blockchain to use BitcoinOS infrastructure, tapping into Bitcoin's $1.3 trillion liquidity pool.
- The partnership aims to bridge the gap in the Bitcoin network by introducing infrastructure for DeFi activities.
- The integration enables trustless transfers of BTC and other Bitcoin-based assets on Cardano, and allows users to pay fees directly in Bitcoin.
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Blockonomi
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Kraken Announces Ink: New Ethereum L2 Blockchain for 2025 Launch
- Kraken plans to launch Ink blockchain in early 2025 as an Ethereum Layer 2 rollup
- Built on Optimism’s Superchain technology, similar to Coinbase’s Base
- No native token planned, but will integrate DeFi tools within Kraken Wallet app
- Developer testnet launching in late 2024, aims to simplify DeFi access for Kraken’s 10+ million users
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Cryptonews
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Blockchain Breakthroughs: Chainlink Joins Bitcoin as Cardano Integrates $1.3T in BTC Liquidity
- Cardano is set to expand its DeFi ecosystem by integrating with BitcoinOS, providing direct access to Bitcoin liquidity without intermediaries.
- The integration utilizes zero-knowledge (ZK) cryptography and the BOS Grail bridge to securely bridge Bitcoin assets to Cardano, enhancing cross-chain capabilities.
- This partnership unlocks $1.3 trillion in Bitcoin liquidity for Cardano's DeFi projects and strengthens its position in the DeFi space.
- Chainlink's oracle services are also joining the Bitcoin ecosystem through its integration with Spiderchain, enabling functionalities like layer-2 solutions, rollups, and smart contracts.
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Siliconangle
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Bluesky raises $15M to expand decentralized social network and developer ecosystem
- Bluesky, the decentralized social network, has raised $15 million in funding.
- The funding will be used to expand the user base, enhance the developer ecosystem, and build new features prioritizing user empowerment and safety.
- Bluesky offers a decentralized social network that allows users to choose their own algorithms and moderation systems.
- The funding round was led by Blockchain Capital, with participation from other investors. Bluesky plans to develop a subscription model for additional features.
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TechBullion
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Decentralised Finance (Defi): Transforming Traditional Financial Services
- Decentralised Finance, or DeFi, is a new way of thinking about money and finance.
- At its core, DeFi aims to provide a more open and transparent financial system.
- Blockchain is the backbone of DeFi. It is a secure and distributed ledger that records all transactions.
- DeFi is reshaping how we think about money and finance.
- The key components of the DeFi ecosystem—smart contracts, dApps, and digital wallets—work together to create a more open and accessible financial system.
- DeFi has transformed lending by allowing users to lend and borrow without traditional banks.
- Decentralised exchanges are a favourite among DeFi users.
- DAOs function through a system of governance tokens.
- Innovations in technology will play a crucial role in shaping the DeFi landscape.
- Decentralised Finance (DeFi) is making waves in various sectors, offering innovative solutions.
- DeFi presents numerous advantages over traditional finance, making it a compelling alternative for many individuals.
- Traditional banks are beginning to recognise the potential of blockchain technology.
- Decentralised Finance (DeFi) is reshaping how we think about money and banking.
- As DeFi continues to grow, it promises to create a fairer and more inclusive financial system.
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Dev
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How to Stand Up Your Own Participant Financial Institution (PFI)
- With decentralized finance (DeFi) becoming more mainstream, the need for decentralized exchanges and institutions is rising.
- Participant Financial Institutions (PFIs) are decentralized entities that interact with decentralized exchanges (DEXs) and serve as intermediaries in transactions.
- Standing up a PFI allows an organization or individual to act as a bridge between the traditional financial system and the decentralized one.
- The process of setting up a PFI involves understanding the TBDex protocol, establishing a decentralized identifier (DID) infrastructure, setting up your offering service, implementing required APIs, and integrating compliance measures.
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Bitcoinik
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Kraken to launch a new blockchain to run DeFi crypto exchange
- Kraken exchange is planning to launch a new blockchain network called Ink.
- Ink aims to offer a decentralized medium for crypto trading without middlemen or permission.
- It will feature a variety of DeFi crypto protocols and user-friendly interfaces.
- Kraken's Ink blockchain will compete with Coinbase's Base blockchain.
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Medium
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The MAD Metaverse(A Gamified DeFi Ecosystem Enhancing NFT Value and Rarity)
- The MAD Metaverse is a gamified DeFi ecosystem that enhances NFT value and rarity.
- Users can engage in various activities and quests within the virtual world, earning rewards in the form of in-game currency or tokens.
- The platform seamlessly integrates with DeFi protocols, allowing users to earn interest on their NFT holdings.
- The MAD Metaverse fosters a community-driven economy, offering increased NFT value, engaging gameplay, passive income, and community-driven innovation.
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Medium
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Uncover Secrets and Win Rewards in Shelter 42: A Post-Apocalyptic Adventure
- Shelter 42 is a thrilling detective game developed by the Rhizome team.
- Players can uncover secrets and win rewards every week.
- The game combines mystery-solving with decentralized finance (DeFi) elements.
- Participants accumulate points by correctly answering questions and solving puzzles.
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Global Fintech Series
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Introducing Ink: The Layer-2 Opening Exciting DeFi Opportunities to Everyone
- Kraken has introduced Ink, a layer-2 (L2) on the Optimism Superchain, aimed at providing seamless access and interoperability with decentralized finance (DeFi).
- Ink bridges the gap between users and DeFi builders, offering secure and streamlined experiences to a broader range of crypto users.
- Ink is part of the Superchain, a network of L2s built on a common standard codebase, and will support SuperchainERC20 at launch.
- Scheduled to launch on testnet soon, Ink aims to make DeFi more accessible and accelerate the migration of assets and activities onchain.
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Bitcoinist
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Bitcoin As A Tool: BRICS 2024 Summit Proposes Russian Miners Sell BTC To Evade Sanctions
- Lawmakers from BRICS countries are discussing the potential for Russian miners to sell Bitcoin and bypass US sanctions.
- The move aims to create an alternative financial pathway and enhance financial independence from Western powers.
- Russian President Vladimir Putin advocates for cryptocurrency adoption among BRICS nations.
- BRICS members have unveiled a blockchain-based payment platform, BRICS Pay, to challenge the dominance of the SWIFT system.
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