Despite BNY Mellon’s entrance into Bitcoin (BTC), the CEO of one of the company’s asset management units is still sceptical about major risks associated with the world’s largest cryptocurrency. Francesca Fornasari, head of currency solutions at BNY Mellon’s subsidiary Insight Investment, believes that Bitcoin may not be suitable for most institutional investors due to extreme volatility, low liquidity, governance issues and environment-related risks. In a Tuesday Bloomberg interview, Fornasari said that Bitcoin can be more difficult to evaluate than gold due to its massive price swings, which further complicates its possible reactions in an inflationary environment. “At the end of …

In times like these, when the entire cryptocurrency market is down and there is nary a sector-wide runup to be found, traders have to dig into data to see how the market dynamics may have changed to pinpoint signs of new growth. Stablecoins are the newest trend to emerge in the decentralized finance (DeFi) arena due to the resiliency they bring to the sector, especially since protocols that are more reliant on the dollar-pegged assets continue to offer token holders low-risk yield opportunities in turbulent market conditions. Possible evidence of stablecoins rising influence can be found in the difference between …

Billions of dollars have flowed into decentralized exchange protocols based on the automated market maker (AMM) model, which bootstraps network effects by incentivizing liquidity with project tokens, thereby creating a self-contained ecosystem of traders and yield earners. This mechanism has allowed decentralized exchanges (DEXs) to compete for the first time with centralized counterparts, such as Coinbase, which can afford to use cash from their balance sheet to pay for user acquisition (e.g., through sign-up and referral bonuses). As a result, AMMs have been hailed as the cornerstone of decentralized finance (DeFi), spawning multiple permutations and sparking the yield-farming trend that …

An OG cryptocurrency dating to 2014 is making an aggressive push towards interchain operability, following up the launch of a new privacy protocol and wrapped token bridge to Binance Smart Chain with the launch of yield farming last month. Aimed at allowing frictionless and extremely cheap cross-border transactions, the fully decentralized Navcoin protocol launched a wrapped version of its NAV coins— Wrapped NAV, or wNAV — in April, building a bridge to the Binance Smart Chain, and through it to the world of decentralized finance (DeFi). The Binance BEP-20 token wrap opens decentralized exchanges (DEX) to NAV and xNAV. Ultimately, …

While Uniswap’s highly-touted v3 has been racing to the top of TVL charts as of late, the need for active management has kept some retail participants out of their pools — a problem that a new product from the Gelato Network is aiming to fix. First teased in a community call last week, the Gelato Network has released today the details of their “G-UNI” Uniswap v3 management system. G-UNI aims to perpetually maintain a liquidity range of 5-10% within the current price of an asset pair, with an oracle network checking prices and rebalancing liquidity pool position ranges every half …

A crypto project says it is changing the game of decentralized portfolio management — and delivers an all-in-one platform that brings everything users need under one roof. DEXKIT has been built to provide a genuinely user-friendly way of managing and trading digital assets. The application features a DEX aggregator, professional exchange, NFT marketplace, and dashboard where users can monitor asset performance. The DSwap aggregator continually monitors more than 30 decentralized exchanges on the Binance Smart Chain and Ethereum networks, delivering up-to-the-minute crypto data. Swaps can be filled by multiple protocols at once which can result in more tokens for trades. …

Decentralized finance liquidity hub Kyber Network is set to become the next DeFi protocol to enter the expanding Polygon ecosystem. In a statement issued on Wednesday, Kyber announced the launch of Rainmaker, a liquidity mining program on the platform’s Dynamic Market Maker protocol that will commence on June 30 to mark Kyber’s expansion to Polygon. According to the announcement, the Rainmaker program will distribute $30 million in rewards to liquidity providers on the Kyber DMM across both Polygon and Ethereum. Of the total reward pool, 12.6 million Kyber Network Crystal (KNC) — about $25 million — will be distributed to …

A new project is bringing NFTs and DeFi together to build a launchpad that will help creative artists and inventors tokenize their intellectual property and raise funds on a single platform. Built on the Binance Smart Chain, LEXIT’s platform does more than just turn works of art, music, books, video, collectibles, games, source code and inventions — any copyrighted or patented intellectual property — into nonfungible tokens. It also brings in decentralized finance (DeFi) to make those NFTs available to anyone via DeFi liquidity pools, LEXIT CEO Amir Kaltak and CBO Katia Zaitsev explained on a Cointelegraph AMA on May …

The crypto payment solutions provider that introduced blockchain-based subscription billing to credit card-harried merchants is moving to the Binance Smart Chain. PumaPay pioneered cryptocurrency-funded payments with its PullPayment Protocol, a series of smart contracts that opens up the use of flexible billing tools like recurring subscriptions and automated account balance top-ups that actively “pull” payments from clients. By doing away with the need to ask customers to actively “push” out crypto payment every month, it gives online merchants an alternative to the high fees and restrictive rules of fiat credit card companies that were previously the only source of “set …

Impossible Finance, a Defi protocol built on Binance Smart Chain, has completed a $7 million seed funding round backed by over 125 institutional and angel investors — with the funds going towards the development of a multi chain DeFi incubator. The seed round was led by venture capital firm True Ventures, and quantitative investment firm Alameda Research, blockchain development firm Hashed and investment firm CMS Holdings. Impossible Finance was launched on BSC on April 9, and the protocol currently offers DeFi investors token swaps, liquidity pools, and staking rewards through the Impossible Finance (IF) token The new funding will go …

Composable Finance, a decentralized finance (DeFi) interoperability protocol, has announced a $7 million raise backed by 16 notable blockchain investment firms. According to a release issued on Tuesday, the funding round was led by Advanced Blockchain AG and Rarestone Capital. Other participants included Alameda Research, Spartan Group, Divergence Ventures and Blockchain Capital, among others. Composable Finance is seeking to enhance DeFi synchronicity via a two-pronged approach to interoperability on both Ethereum and Polkadot, with the latter forming a basis for further cross-chain interactions. According to Cosmin Grigore, CEO of Composable Finance, blockchain interoperability will push the emerging technology into “a …

0x has released a Polygon version API for its decentralized exchange (DEX) liquidity aggregator, opening up the 0x API tool to the expanding Polygon market. The DEX liquidity bridge service announced the move via a release issued on Monday, marking another milestone for the burgeoning decentralized finance (DeFi) scene on Polygon. According to the announcement, the 0x API on Polygon features major Ethereum-based DEX liquidity channels like SushiSwap, Dfyn and Curve, as well as Dodo, mStable, QuickSwap and Cometh. Detailing the ease of using the 0x API on Polygon, the announcement reads: “Developers are able to access the open source …