The damages caused by the fall of major crypto ecosystems in the last year are on a path of steady recovery as good actors take proactive measures to rebuild trust among investors. Major players from the decentralized finance (DeFi) ecosystem came together to showcase the incentive behind operating trustless, interoperable and permissionless platforms. For 24-hrs from Feb.6 to 7, over 30 DeFi protocols joined in an initiative to “permissionlessly” share tweets from other protocols — thus highlighting the permissionless and interoperable nature of Web3. Projects participating in this campaign include Yearn, MakerDAO, SushiSwap and Aave, among others. An experiment in …

Decentralized yield protocol Yearn.finance said in a Jan. 9 tweet that all users can now create sophisticated Permissionless Vault Factories on its platform. The current version of Vault Factory works with stablecoin-swapping platform Curve Finance and its liquidity provider (LP) tokens and features three premade yield strategies. “Our new Permissionless Vault Factory lets anyone deploy an auto-compounding yVault for any Curve pool with an active liquidity gauge. Yes, anyone. Factory-deployed vaults have no management fees and a flat 10% performance fee. Nice!” As told by Yearn.finance, the first, dubbed “Boosted Factory,” uses Yearn’s vote-escrowed CRV balance of 45.1 million to …

Following the successful deployment of twenty-five previous Ethereum Request for Comments (ERC) standards, including the industry-recognized ERC-20 designed for tokens, ERC-721 for nonfungible tokens (NFTs), and the single smart contract multi-token ERC-1155; the newly-passed ERC-4626 is gaining traction within the Ethereum community for its purported yield-bearing benefits. Referred to as the “tokenized vault standard,” ERC-4626 is set to be implemented at the next Ethereum fork upgrade following approval by the developers within Ethereum’s governance procedure. Serving as an addition to ERC-20 — and considering the utilization of under-review EIP-2612 for the approval shares user experience (UX) — the ERC-4626 standard …

The decentralized finance (DeFi) ecosystem had quite an eventful week with several new developments and price action. The week started with DeFi “Godfather” Andre Cronje announcing his departure from most of his projects, leading to a massive drop in prices of projects that Cronje was associated with. CAKE DeFi launched a new $100 million venture fund to support Web3 initiatives, ThorChain spiked over 34% after activating synthetic assets and Polygon network suffered an extended outage post new upgrade that impacted its price momentum. DeFi “Godfather” Cronje quits as TVL and tokens tank for related projects DeFi architect, Fantom Foundation technical …

DeFi architect, Fantom Foundation technical advisor, and Yearn Finance founder Andre Cronje has left the decentralized finance (DeFi) space reeling after deactivating his Twitter account. Cronje’s long-time colleague at the Fantom Foundation Anton Nell stated in a Mar. 6 tweet that both he and Cronje were leaving the crypto space entirely. However, concerns have arisen about the fate of the roughly 25 decentralized apps (dApps) and services they have been operating up to now. Fantom Opera is a layer-2 Ethereum scaling solution. Andre and I have decided that we are closing the chapter of contibuting to the defi/crypto space. There …

Yearn Finance (YFI) looks poised for a price correction after rising five days in a row to approach $42,000. Notably, an absence of enough buying volume coupled with overbought risks is behind the bearish outlook. The YFI price rally so far YFI price surged by a little over 47% in five days to $41,970 as traders rotated capital out of "top-cap" cryptocurrencies like Bitcoin (BTC) and Ether (ETH) and looked for short-term opportunities in the altcoin market. #DeFi assets are showing some nice signs of growth to kick off 2022. $YFI, $UNI, and $AAVE are all ticking up nicely thus …

Bitcoin (BTC) bulls took another beating on Dec. 17 as a midday onslaught dropped the price to $45,500. The price did manage a quick bounce back to $47,000 but sweeping a new daily low could be a sign that additional downside is in store. Amid the wider market downturn, several altcoins provided weary traders with a source of refuge as token buybacks and increased network activity helped bolster their prices and provide shelter from the storm. Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Yearn.finance (YFI), Hxro (HXRO) and Arweave (AR). …

Yearn Finance (YFI) emerged as one of the best performers in the crypto market this week, rallying by over 46% in just four days to reach a two-week high above $29,100. The gains surfaced primarily as Yearn Finance revealed that it has been buying back YFI en masse since November in response to a community vote to improve the YFI token's economics. The decentralized asset management platform purchased 282.40 YFI at an average price of $26,651 per token — a total of over $7.50 million. Furthermore, Yearn Finance noted that it has more than $45 million saved in its Treasury …