Teller Finance, a project building an undercollateralized lending protocol for decentralized finance, has announced the launch of its mainnet alpha stage. This will enable certain users to obtain credit without being required to post collateral, which is the case for most other DeFi lending protocols. The Teller alpha will be accessible only to holders of a special nonfungible token, called the Fortune Teller NFT. The tokens will be sold on Thursday, with half of the proceeds of the sale going to the protocol’s liquidity pools, and the remaining half will be used to fund development. Only $10 million in total …
DeFi lending protocol Warp Finance has reportedly suffered a flash loan attack resulting in the loss of as much as $8 million in digital assets. Reports are coming in that an attacker has made off with between $1 million, to as much as $8 million according to DeFi Prime. The losses follow a series of flash loans that have exploited vulnerabilities in the Warp Finance protocol. Warp Finance is a new DeFi platform announced in early November that enables users to deposit liquidity provider (LP) tokens from other protocols and receive stablecoin loans in exchange. The Warp Finance Twitter feed …
Two days after Yearn Finance (YFI) and Pickle Finance joined forces in DeFi’s first effective merger, Yearn founder Andre Cronje published details of another upcoming integration with Cream, a lending protocol similar to Compound and Aave. The blog post, published on Thursday, outlines how the two protocols will cooperate for the launch of Cream V2. As part of the partnership, the teams will merge development resources and introduce several symbiotic interactions between the two protocols. Yearn users will be able to put their vault tokens — their share in a yield farming strategy fund — as collateral to borrow on …
Over the past few years, decentralized autonomous organizations (DAOs) have introduced a clear paradigm shift in blockchain governance. With their community decision-making and adherence to hardcoded rules, they have challenged the role of hierarchy and central authority that are present in modern organizations, especially as it pertains to business. Ideologically, DAOs have a lot in common with democracies: individuals holding an amount of a DAO’s specific token can allocate those tokens as votes on governance proposals. Once voting has concluded, the final outcome is executed autonomously by smart contracts. In functional democracies, however, citizens elect representatives to legislate laws and …
According to a medium post on Feb. 20, the Interchain Foundation (ICF), a non-profit organization behind the creation of the Cosmos (ATOM) interblockchain communications (IBC) ecosystem, has committed to spending approximately $40 million in 2023 to develop its core infrastructure and applications. As a part of the Interchain Stack, which is utilized by around 50 blockchains, these include the Tendermint Core (and now CometBFT), Cosmos SDK, Cosmos Hub, and the IBC protocol. "Throughout the year, we envisage engaging other teams to deliver smaller, tightly defined tasks within each area of work. Such contracts will be to supplement the work of …