The top 100 DeFi tokens saw a bullish wave as the new month began, but many DEX platforms are still haunted by the FTX epidemic.
Welcome to Finance Redefined, your weekly essential insights on decentralized finance (DeFi) – a newsletter designed to bring you the highlights of the past week.
The FTX epidemic that started in the second week of November is still haunting various crypto protocols in the DeFi ecosystem. The latest victim of the epidemic is the Solana-based decentralized exchange (DX) serum supported by Alameda and FTX. Oros Global, another DeFi crypto trading firm, missed the principal repayment of a 2,400 wrapped ether (wETH) DeFi loan.
Looking at some other major news in the DeFi ecosystem, popular DEX protocol Uniswap has launched its Non-Fungible Token (NFT) market aggregator, allowing platform users to trade NFTs.
Anker became the latest victim of the exploit, reporting losses of nearly $5 million. The decentralized finance protocol said it is working with exchanges to immediately halt trading of the BNB stake reward token, ABNBC.
Demand for Ethereum Liquid shares has set new records, seeing the biggest increase since the merger.
After three weeks of dominance, the top 100 DeFi tokens got a reprieve. Most DeFi tokens are trading in the green, with many of them making double-digit gains.
Serum Exchange “Defunct” After Alameda and FTX Collapse
Solana-based DEX Project Serum has informed its community that the collapse of its backers Alameda and FTX has rendered it “non-viable”. The team behind the project shared that despite the current challenges, there is “hope” due to the option to “fork” the serum.
According to the announcement, “the community effort to crack the serum is going strong.” OpenBook, a community-led fork of the Serum v3 program, already delivers over $1 million in daily volume live on Solana, supported by continued efforts to expand and increase its liquidity.
Crypto trading company Oros Global loses DeFi payment due to FTX infection
FTX appears to have been hit by the pandemic after crypto trading company Oros Global missed a major repayment on a 2,400 weTH DeFi loan.
Institutional credit underwriter M11 Credit, which manages Maple Finance’s liquidity pools, told its followers in a Twitter thread on November 30 that Oros had defaulted on the principal of a 2,400 wETH loan, about $3 million. .
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Anker confirms the exploitation and calls for an immediate halt to the trade
Ankr has confirmed that the DeFi protocol based on the BNB chain has hit billions of dollars on December 1st. .
Within an hour of the attack, Ankr confirmed on Twitter that the ABNB token had been exploited and was working with exchanges to immediately halt trading of the compromised token.
Uniswap has introduced NFT Market Aggregator
According to a new announcement on November 30, DEX Uniswap announced that users can now trade NFTs on its native protocol. As announced by Uniswap, the feature will initially introduce NFT collections for sale on platforms such as OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, X2Y2, Foundation, NFT20 and NFTX.
Uniswap developers claim that users can save up to 15% on gas costs when using Uniswap NFT compared to other NFT aggregators, which unifies ERC-20 and NFT swap into a single swap router. Combined with Permit 2, users can transfer multiple tokens and NFTs on one exchange while saving on gas fees.
Demand for liquid Ethereum staking options continues to grow following the merger
Blockchain data analysis by Nansen highlights the ever-growing volume of Ether
In the months since Ethereum switched to a proof-of-stake (PoS) consensus, various stake solutions have been investing.
The much-anticipated merger is a boon for DeFi in general, and staking solutions have been in high demand since Ethereum moved to PoS. This is according to blockchain data from various role solutions across the Ethereum ecosystem.
DeFi Market Overview
Analytics data reveals total locked value of DeFi has topped $40 billion