Compound

Leading Decentralized Finance (Defi) Protocol Compound is staring at heavy losses following a bug bite. The firm's chief, Robert Leshner, has revealed it in a series of tweets. Also, Leshner blamed the firm's woes on an upgrade that went wrong. Compound has recently updated its Comptroller Contract. The Proposal 062 update manages how the protocol rewards its stakers. A bug in the upgrade has seen the contract wrongfully allocate its users staking rewards in COMP tokens. The news won't be…

The crypto space has been vibrant in the past 24 hours, with the recent pump of Dogecoin on everyone's lips. However, one sector that has gone below the radar is the DeFi sector, which has experienced a bullish increase.  At the time of writing, the total locked-In value in DeFi protocol has hit a record $27 billion. Looking at the data from DeFi Pulse, over $2billion was added into DeFi protocols 24 hours. The recent surge in the value of…

The current bullish sentiments in the crypto market have been the major talking point in recent weeks. Bitcoin pump has caused a ripple effect in the crypto market, which has extended to decentralized finance (DeFi). Total Locked In Value hits $14billion The Total Locked in Value in the DeFi sector surpassed $14 billion over the weekend. According to DeFi Pulse, the total TVL hit a record high of $14.3 billion in today's early hours. At the moment, the value has…

Traditional currency and banking systems feature several downsides as far as transacting is concerned. Cryptocurrencies present a decentralized alternative to deal with issues surrounding the two options. The introduction of DeFi was a step further in pushing the mass adoption of blockchain technology and digital currencies.  DeFi lending is on the same track, trying to bridge the void between traditional banking and all users globally without intermediaries. Now, lenders and investors can deposit, loan out, or borrow currencies in or…

The year 2020 will certainly be remembered for numerous events, with the world going “viral,” being just one of them. However, this year will go down in history for the cryptocurrency sector when Decentralized Finance (DeFi) protocols exploded. One of the most impressive things about DeFi is that reliable projects spur overnight. In just a few months, they become global ecosystems backed by large communities that pour in millions of dollars. One such success story (at least so far) is…

Blockchain technology has brought numerous innovations, one of them being Decentralized Finance (DeFi). DeFi platforms are the next generation of financial primitives to transform "traditional" financial services such as borrowing, trading, lending, payments, and investing. These platforms employ open-source software and composable frameworks, i.e., smart contracts to offer financial services with no border limitations and in a trustless and transparent manner with no intermediaries present.  DeFi was the hottest topic in the blockchain space in 2020. Today, over 200o DeFi platforms…

What Does Ethereum Do That Other Platforms Can’t? Dapps, or decentralized applications, are a part of the whole Smart Contracts ecosystem. Running dapps on the general-purpose, multi-faceted Ethereum blockchain offers added security benefits. Since the transactions are distributed and encrypted across the Ethereum blockchain, there is no central place for a hacker to breach and gain access. It is unanimously considered that Ethereum is perhaps the best platform for building dApps. Thanks to its very own language, Solidity, this enables developers…

Last week, Decentralized finance (DeFi) protocol known as Compound was able to implement its initial two community-driven governance proposals. The launching of the protocol’s governance token (COMP) aimed at the facilitation of community-driven protocol upgrades and development is on the way. First Governance Proposal For Compound The community was given the opportunity to choose the assets they want to be added to Compound in September last year and most people chose Maker (MKR) and Tether (USDT). Hence, based on the…

The crypto space has, in recent times, witnessed a surge in decentralized finance platforms, with crypto Compound finance being the latest innovation, which has grown incredibly in the past year. In crypto, compound finance refers to an algorithmic, open-source protocol that creates money markets, currently mostly on the Ethereum blockchain. In other words, a compound can be defined as a fully automated, decentralized money market protocol. Compound finance allows users and applications to access the financial platform remotely from any…