Busy week for Uniswap, and Platypus recovers 90% of hacked funds: Finance Redefined
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.
The past week in DeFi was dominated by developments in the popular decentralized exchange platform Uniswap after it announced a 0.15% swap fee starting on Oct. 17, and an open-source hook on Uniswap generated controversy due to Know Your Customer (KYC) checks.
In other major DeFi developments, Platypus Finance managed to recover 90% of the funds it lost to an Oct. 12 exploit while the layer-2 zero-knowledge Ethereum Virtual Machine (zkEVM) “Scroll” launched its mainnet.
The top 100 DeFi tokens by market capitalization had a bullish week thanks to Friday momentum in the market, with a majority of the tokens trading in green and recording double-digit gains on the weekly charts. However, the price action didn’t reflect on the total value locked (TVL), which fell by nearly $2 billion.
The Ethereum liquid staking derivatives finance (LSDFi) ecosystem has seen a surge in growth this year as Ether (ETH) holders chose to stake rather than liquidate.
Despite ETH withdrawals being enabled with the Ethereum Shapella upgrade in April 2023, an Oct. 16 LSDFi report from crypto data aggregator CoinGecko said the sector has grown by 58.7x since January. By August 2023, LSD protocols accounted for 43.7% of the total 26.4 million ETH staked, with Lido having the lion’s share at almost a third of the total staked market.
Continue reading
Scroll, a new contender in the zkEVM space that works to scale the blockchain, has confirmed the launch of its mainnet.
The team behind Scroll announced the launch in an Oct. 17 post and added that existing applications and
Read more on cointelegraph.com
