Search Results for: Backed Finance

OpenCover, a decentralized insurance provider, has made its debut on Ethereum-fueled blockchain, Base, further expanding its financial capacity with Coinbase. The launch is part of a collaboration with Nexus Mutual, aiming to offer investors insurance-like coverage for the crypto industry. OpenCover intends to guard against protocol shortfalls and provides protective shield for traditional entities and forward-looking platforms.

“Poland is bolstering its status as a significant blockchain hub within the EU, with ETH Warsaw, the region’s largest blockchain event. The conference highlighted innovation in the crypto world, expressed growing employment preference for those proficient with Web3 and notably recognized the potential of digital currencies and blockchain technology in transforming traditional markets.”

The London Stock Exchange Group (LSEG) is moving forward with plans to implement an “end-to-end blockchain-powered” lifecycle for financial assets. This revolutionary initiative aims to facilitate a more streamlined, cost-effective, and regulated process not focused on cryptocurrencies, but on the technology behind them.

Rune Christensen, co-founder of MakerDAO, proposes the platform’s future blockchain should be built using Solana’s codebase, citing its high-speed performance. Despite support for the idea, community members raise questions about the research backing this proposal, suggesting alternative solutions might exist.

“Bitcoin is the best performing asset for seven out of the last ten years, yet wealth advisors are still reluctant to support investments in this asset class. While Bitcoin’s predictable, finite supply can provide a buffer against inflation, its frequent value fluctuations present challenges. Nonetheless, it is a robust construct that can drastically reshape monetary transactions, making it an intriguing asset to watch.”

Num Finance has launched a stablecoin, nCOP, tied to the Colombian peso on the Polygon network. This overcollateralized fiat-backed coin is seen as a game changer for Latin American remittance recipients given its stability and yield-offering feature. Colombia’s robust remittance market provides prime opportunities to “tokenize” remittances with nCOP.

The Central African Republic is making waves in the crypto world by tokenizing its land and resources on the Sango blockchain platform. This innovative approach includes the use of technology for citizenship acquisition, land ownership, and diverse investments, thus enticing potential investors and promoting a “new era of financial empowerment through blockchain technology”.

“Pendle Finance aims to integrate real-world assets within the digital finance ecosystem, opening access to traditional financial instruments. While this could attract large, off-chain institutional investors, it raises questions of blurring boundaries between decentralized finance and traditional systems.”

“PayPal’s stablecoin, PYUSD, built on the Ethereum network, signals a major step towards crypto adoption in traditional finance. Despite concerns about its centralized structure, PYUSD could clarify crypto regulations, accelerate token usage, consolidate crypto payment with traditional finance, and encourage wider adoption of blockchain technology.”

Decentralized finance protocol, Maker, has seen its annualized revenue peak at over $165 million. Meanwhile, the pool of DAI, a stablecoin issued by MakerDAO, surged to a 5-month peak of 5.35 billion. The growth is attributed to an enticing 8% annual deposit rate, drawing in users such as Tron founder, Justin Sun.

“Sei Labs recently announced its layer 1 blockchain “Sei” is live after a successful testnet phase with SEI, Sei’s native token, listed on prominent exchanges. Sei intends to simplify asset exchange including Non-Fungible Tokens (NFTs). However, they are also focusing on gaming, social platforms, and carbon credits, not just DeFi assets.”