Skip to main content

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment

Finance Redefined: Layer-two growth and the SEC’s scrutiny, Sept. 19–23

Layer-two's surge to new heights, Bitcoin and DeFi EFT applications and Sushi's mistaken bug — all coming to you this week in Finance Redefined.

Welcome to the latest edition of Cointelegraph’s decentralized finance, or DeFi, newsletter.

In a week where DeFi’s parabolic growth continued, elsewhere, the United States Securities and Exchange Commission Chair Gary Gensler threatened to tackle stablecoins.

What you’re about to read is the smaller version of this newsletter. For the full breakdown of DeFi’s developments over the last week — released a whole lot quicker than Cardano’s smart contracts — subscribe at the bottom of this page.

Layer two’s defining the future

This week, analytical data revealed that DeFi continues to be one of the fastest-growing sectors of the crypto economy as evidenced by increases in the total value locked, or TVL, on protocols. Some of the biggest gains have been witnessed across cross-chain compatible networks and layer-two protocols that offer a lower fee environment.

Part of the Avalanche network, Trader Joe is a protocol that has experienced significant inflows since the launch of an upgraded cross-chain bridge. It allows Ethereum-based tokens and applications to migrate to its ecosystem, which has resulted in a 53.96% increase in TVL this week.

The recent emergence of layer-two technologies such as Arbitrum, Optimism and a bridge to the Avalanche ecosystem is revolutionizing the way investors, builders and developers interact with various protocols.

Each facilitates fast, low-cost transactions that improve the fundamentals of the DeFi ecosystem while also making it easier for retail-sized investors to capitalize on opportunities.

Reported by Jordan Finneseth

U.S. against the SEC

United States investment firms Invesco and Galaxy Digital Funds teamed up this week to file a registration statement with the SEC in a bid to gain approval for the sale of Bitcoin exchange-traded funds (ETF).

If approved by the SEC, the Invesco Galaxy Bitcoin ETF will be registered as a securities offering with the ability to get listed on traditional national exchanges in the United States. According to the filing, the trust will use “robust physical barriers to entry, electronic surveillance and continuously roving patrols” to protect Bitcoin privacy.

Likewise, fellow U.S. firm Amplify ETFs also filed a registration with the SEC, in this case, to add DeFi-centric, open-end ETF funds offering to the Amplify ETF Trust. Approval of the FORM N-1A filing will allow the company to issue unlimited new shares for American investors.

Reported by Arijit Sarkar

SushiSwap denies reports of billion-dollar bug

One of the developers behind popular decentralized exchange SushiSwap has rejected a purported vulnerability reported by a white-hat hacker snooping through its smart contracts. 

According to media reports, the hacker claimed to have identified a vulnerability that could place more than $1 billion worth of user funds under threat, stating they went public with the information after attempts to reach out to SushiSwap’s developers resulted in inaction.

However, SushiSwap’s pseudonymous developer soon took to Twitter to reject the claims, with the platform’s “Shadowy Super-Coder” Mudit Gupta stressing:

“This is not a vulnerability. No funds at risk. If rewarder runs out of rewards, withdrawing LP will fail but anyone (not just sushi) can top up the rewarder in an emergency. Sushi can also just remove the rewarder.”
Reported by Samuel Haig

Token Performances

DeFi’s TVL has fallen sharply by 16.08% this week to a figure of $105.15 billion — paralleling the decline of the top DeFi tokens.

Data analysis from Cointelegraph Markets and TradingView reveals that DeFi’s top 20 tokens by market capitalization suffered heavy losses across the last seven days, with only three tokens printing bullish price action. 

Avalanche (AVAX) took the top spot on the podium for bullish gains this week with a respectable 13.7%. After a final day surge, Ren nudged over the green line, but still in a distant second with 0.64%, while Dai made up the numbers in third with 0.34%. When a stablecoin makes the top three, that’s when you know it’s been a bad week!

Want to further your education? Read these additional stories:

Thanks for reading our conspectus of DeFi’s biggest stories this week. Join us again next Friday for a round of fresh stories, developments and insights from the world of DeFi.

https://ift.tt/3o65PhW
Labels:

Comments

Post a Comment

Popular posts from this blog

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment
Read more

Year of sponsorships: Celebrities who embraced crypto in 2021

From Matt Damon appearing in a TV spot for Crypto.com to Kim Kardashian shilling EthereumMax, 2021 saw celebrities with higher profiles getting into crypto. Though the crypto space has seemingly moved beyond the endorsements many minor celebrities bestowed on token projects during the 2018 initial coin offering boom, its growing popularity and acceptance now has professional sports players, Hollywood elites and politicians backing major companies dealing with digital assets. In June 2021, Kim Kardashian promoted EthereumMax (EMAX) via an Instagram story shared with  her more than 200 million followers . The token, which was used as payment for online ticket purchases for some pay-per-view events, gained 116,000% in just one week following the celebrity’s activity before falling more than 99% and leaving many investors in the red. Kim Kardashian promoting EthereumMax on Instagram Stories, June 2021. Source: Instagram Though EthereumMax is somewhat of a cautionary tale for cry...
Post a Comment
Read more

Top 3 Rebase Token Markets Shudder — Stats Show TIME, OHM, BTRFLY Lost Billions Since All-Time Highs

While the crypto economy has shed more than 3% in fiat value during the last 24 hours dropping to $2.09 trillion, the top rebase tokens by market capitalization have seen significant losses this week. At the time of writing, the rebase token economy is valued at over $3.2 billion but has lost more than 10% in value during the last 24 hours. The largest rebase token economies such as Wonderland, Olympus, and Redacted Cartel have shed between 36% to 55% over the last week. Top 3 Rebase Token Protocols Shed Billions in Value Over the Last Week, Wonderland Down 87% Since High On the first day of November 2021, Bitcoin.com News took a deep dive into the Olympus DAO and the reserve-backed asset called OHM . Olympus is a decentralized finance (defi) project that is described as a rebase token and since Olympus started, a myriad of Olympus forks have been born. Essentially, rebase token protocols adjust the token supply in a periodic fashion or when the price fluctuates. Olympus was once ...
Post a Comment
Read more