Russia’s biggest bank Sberbank is in the news for its decision to continue its plans to launch its decentralized finance (DeFi) platform on Ethereum. The DeFi platform is already undergoing testing in private beta. Towards the end of April or the start of May, customers will be able to make commercial transactions. Ethereum is a fitting Blockchain for the platform, given that it will be able to pair with wallets like MetaMask.

Sberbank has repeatedly been vocal about merging its own country’s blockchain ecosystem with Ethereum’s Decentralized finance ecosystem. Pushback from Russia’s centralized banks has done little to stifle pro-DeFi views from people like Konstantin Klimenko.

The product director of Sberbank’s blockchain lab Konstantin Klimenko, makes clear his beliefs in DeFi. He declared that DeFi technology will take the place of traditional banks. Klimenko detailed.

We have set ourselves a big goal – to make the Russian DeFi ecosystem number one (decentralized finance system – IF). Our network is now operating in the format of closed beta testing. (…) From March 1, we will move to the next phase; it will no longer be beta testing, but open testing at the end of April, the platform will be fully open, and then it will be possible to make some commercial operations on it.

Ethereum is on the way to an unprecedented price point

Ethereum is in luck yet again. The adoption of Ethereum in any area is bound to favor the network. In terms of price performance, there is every chance that Ethereum’s native token ETH can be rewarded because of adoption.

Presently, Ethereum’s price is still looking attractive in the market. At the time of this writing, Ethereum is one of the few alternative assets that is blinking in green. 7 days performance is positive, and ETH’s gain within that time is above 6%.

Ethereum’s price has not yet towered $2,000. However, an upcoming Shanghai upgrade scheduled for March could do wonders for the price. ETH could go from current price levels of $1,677 to $2,000 and above.

Technical analysts are paying attention to ETH. One of said analysts who go by the name RookieXBT thinks that this week holds many possibilities for Ethereum’s price. He observed in a tweet.

I think Ethereum goes up this week. We got all the important earnings and macro obstacles out of the way – not much shenanigans for another couple weeks.Expecting minor outperformance relative to Bitcoin given how the pair looks.

Der Beitrag Russia’s biggest Bank to launch DeFi plattform on Ethereum – Can it drive ETH price to $2,000? erschien zuerst auf Crypto News Flash.

Over the last year, decentralized finance (DeFi) has been on a roll. DeFi tokens with strong financial utilities have gained tremendous market share. As the decentralized finance (DeFi) market continues to expand, the total value locked (TVL) in the DeFi space has touched a record high of $157 billion.

Besides, DeFi projects focused on interoperability, offering cross-chain bridges and liquidity mining pools have registered a major influx of funds. Over the last month, DeFi tokens have registered a stellar bull run in the market. All of the top ten DeFi tokens have gained between 25-50 percent over the last 30 days.

The total value locked basically represents the assets currently staked on a specific DeFi protocol. The higher the staking more is the legitimacy of the platform. During the early market bull run of 2021, the DeFi TVL crossed $150 billion.

However, along with the broader crypto market correction, the DeFi market also corrected significantly. But the DeFi space has picked up entirely its lost ground while a majority of coins including Bitcoin (BTC) and Ethereum ETH) are still trading at over 20 percent discounts from their all-time highs.

Ethereum still holds a lion’s share when it comes to hosting DeFi applications as well as the TVL. However, there are a few emerging DeFi protocols in the market eating into the market share of Ethereum (ETH). Over the last three months, several such DeFi protocols have come into existence.

These platform have benefitted amid the rising Ethereum transaction costs while offering faster processing time through cross-chain bridges.

The emerging DeFi Platforms

DeFi platforms like Avalanche (AVAX) and Binance Smart Chain have started gaining strong visibility and traction in the market. Recently, BENQI, the first DeFi lending platform on Avalanche, announced crossing over $1 billion in Total Value Locked (TVL).

Just launched a week back, BENQI is a non-custodial liquidity market protocol offering borrowing, lending, and interest-earning facilities via digital assets. Important initiatives like Avalanche Rush and Avalanche Bridge have contributed towards ushering BENQI’s liquidity. BENQI Co-Founder, JD Gagnon siad:

The Avalanche Rush initiative coupled with the new Avalanche Bridge has proved to be a major catalyst for the rush of liquidity to not only BENQI but the rest of the Avalanche DeFi ecosystem.

We’re currently optimizing the protocol, and have plans to collaborate with projects going cross-chain to Avalanche as part of the Avalanche Rush initiative.

Another popular DeFi protocol on the rise is Dinoswap. Just last month, Dinoswap surpassed the milestone of crossing $500 million in Total Value Locked (TVL). Dinoswap aims to become the central hub for multi-chain liquidity.

Dinoswap is pushing for rapid scaling on the Polygon blockchain network. It is positioning itself as a long-term infrastructure platform benefitting projects, DEXs, blockchain ecosystems, and yield farmers.

Der Beitrag Total value locked (TVL) in DeFi hits record high, Ethereum competitors gaining momentum erschien zuerst auf Crypto News Flash.

One of the most anticipated events in the cryptocurrency ecosystem took place yesterday – the announcement of Uniswap’s version 3 (v3). The decentralized exchange (DEX) described v3 as its best effort to make Uniswap the “most flexible and capital-efficient automated market maker ever designed!”

1/

? Today we are thrilled to present a detailed overview of Uniswap v3, the most flexible and capital efficient AMM ever designed!

? Mainnet launch is scheduled for May 5, with a scalable Optimism L2 deployment set to follow soon afterhttps://t.co/NTekDxWVA8

— Uniswap Labs ? (@Uniswap) March 23, 2021

Uniswap’s growth has been stellar, rising to become the king of decentralized finance (DeFi) over the past year. With the rapid rise in users and value locked, Uniswap has had to reinvent itself just a year after launching version 2. And it hasn’t disappointed.

Version 3 introduces new features that set Uniswap apart from its rivals. The most iconic is concentrated liquidity, a feature that allows liquidity pools to choose what price range they allocate their capital to.

In v2, liquidity is distributed across all price ranges between 0 and infinity. For most pools, a majority of this liquidity is never in use. As a result, liquidity pools (LPs) earn fees on a small portion of their capital.

In Uniswap v3, LP’s can concentrate their capital within custom price ranges, providing greater amounts of liquidity at desired prices. In doing so, LPs construct individualized price curves that reflect their own preferences.

By concentrating their liquidity, v3 LPs get to achieve higher capital efficiency. They can provide the same liquidity depth as they would in v2 while putting up far less capital.

At launch, capital efficiency gains will max out at 4,000x for LPs providing liquidity within a single 0.10% price range.

5/

? Concentrated Liquidity means LPs can earn the same amount of fees with just a fraction of the underlying capital, while keeping more of their total portfolio in desired assets!

? Capital efficiency gains max out at 4000x for LPs adding liquidity to a 0.10% price range pic.twitter.com/aLUvBmbPGp

— Uniswap Labs ? (@Uniswap) March 23, 2021

Flexible fees and advanced oracles

Uniswap v3 also offers LPs three separate fee tiers per pair – 0.05%, 0.30%, and 1.00%. “This array of options ensures that LPs tailor their margins according to expected pair volatility.”

For the LPs, this will allow them to provide liquidity in more volatile assets as they will get to earn more fees. Previously, all trades in Uniswap pools have had a 0.03% fee for trading. This model worked well for some assets but disadvantaged others, as the v3 whitepaper notes.

While this fee historically seems to have worked well enough for many tokens, it is likely too high for some pools (such as pools between two stablecoins), and likely too low for others (such as pools that include highly volatile or rarely traded tokens).

Version 3 also upgrades the Uniswap oracles. V2, which launched in May last year, introduced the concept of time-weighted average price (TWAP) oracles. They store cumulative sums of pair prices on a per-second basis. They allow users to calculate an accurate TWAP over a trading period by checking the price at the beginning of a session and at the end.  These went on to become a hit, with other major DeFi projects like Compound integrating them.

V3 is upgrading these oracles and giving them the ability to provide much more data over a 9-day period. These advanced oracles will be cheaper and easier to use, allowing users to fetch data such as “simple-moving averages (SMA), exponential moving averages (EMA), outlier filtering, and more.”

Preventing another SushiSwap

Uniswap is the undisputed DeFi king. As per data from DeFi Prime, in the past 24 hours, Uniswap processed $1.1 billion in trading volume. This was 53.2% of the volume traded on decentralized exchanges, showing Uniswap’s utter dominance.

The second-largest DEX is SushiSwap, trailing at $318 million for a 14.8% market share. SushiSwap is the product of Chef Nomi, a pseudonymous developer. Chef Nomi copied Uniswap’s code in August last year and created a new project, complete with its own token, SUSHI.

At the time, Uniswap didn’t have its native UNI token and as a result, a lot of liquidity exited Uniswap and headed for its new rival. Uniswap has since then launched its token, which has gone on to become the eighth-most valuable in the market. With a $16 billion market cap, it’s 8 times more valuable than SUSHI.

This incident has made Uniswap more cautious with its products. While launching v3, the project ensured it inserted a business source license that prevents any other entity from copying this code. The license expires after two years.

We strongly believe decentralized financial infrastructure should ultimately be free, open-source software. At the same time, we think the Uniswap community should be the first to build an ecosystem around the Uniswap v3 Core codebase.

Der Beitrag Uniswap releases v3 with 4,000x capital efficiency and concentrated liquidity erschien zuerst auf Crypto News Flash.

A new token is riding the decentralized finance (DeFi) wave all the way to the top, gaining an eye-popping 900% in just one week. Yearn Finance DOT (YFDOT) shot up from $13.1 to hit an all-time high at $132.

The rise to the top

YFDOT is a relative newcomer in the DeFi scene according to data from CoinGecko. The token has only been trading since October 13 when it debuted at $65.95. After a brief rise to $73.3, it shed over 80% of its value to trade just above $11 two weeks ago.

In the past 7 days, however, YFDOT has changed course, recording an incredible surge that saw it become one of the biggest gainers in the booming DeFi sector. It shot up to $136.6 on November 24, recording a 946% surge from just a week earlier when it traded at $13.6. The token has since then briefly corrected and is trading at $100.5 at press time. It’s available to trade on Uniswap, Hotbit, CoinTiger and DigiFinex.

$YFDOT the Top One Gainers on Coinmarkecap. More than 300% in 24 hrs.$YFDOT Staking now is availablehttps://t.co/vFIQn0foyg

Next our product will launch coming soon:
1. Insurance
2. Farming
3. Mortgagehttps://t.co/7eHU5DlNZFhttps://t.co/dF3mHRgH0M#DeFi $YFDOT #Staking pic.twitter.com/FcVsn0K7Ny

— YFDOT (@Yfdotfinance) November 24, 2020

YFDOT was designed as the DeFi token version of the ‘next-generation decentralized web platform’ Polkadot. The cryptocurrency is the ninth-largest in the world, worth $4.9 billion. The token is part of YFSwap, a platform that seeks to introduce DeFi farming to major cryptocurrencies.

In an October 4 blog post, YFSwap explained that it intends on eliminating the ‘rug-pulls’ that have tainted the DeFi sector. It stated:

There are no founder shares, no VC interest, simply a fair and equal staking distribution to attract a broad and vision-aligned community to steward the future of the protocol and token.

To further boost the price of YFDOT, the team intends to burn 15% of the total supply by the first quarter of 2021. The first 5% supply burning took place in Q3 this year, with the second one expected to take place before the year ends.

The DeFi boom

While eye-catching, the YFDOT rise to the top is not unique in the DeFi sector. The sector has seen projects shoot up to dizzying heights overnight. The most notable is yearn.finance, a DeFi token that took the world by storm. After launching in July, it shot up rapidly to achieve an all-time high that no other altcoin has managed – surpassing the price of Bitcoin.

Yearn.finance’s YFI token achieved the all-time high on August 20, and it hasn’t looked back since. At press time, it was trading at $23,612, over $4,500 above the price of Bitcoin. Some analysts predict that the YFI price could hit a price of $34,500 if it continues to hold above its 100-day simple moving average.

Despite flipping Bitcoin, YFI’s market cap stands at just $662,441 compared to BTC’s at $353 billion. This is because the token’s total supply stands at just 30,000. As cryptocurrency investor Ian Lee explained recently, the flipping is not as significant.

$YFI “flipping” $BTC price is arbitrary & more psychologically than practically important.

What is important is what @iearnfinance is doing & @AndreCronjeTech is building in DeFi.

— Ian Lee ? (@ianjohnlee) August 20, 2020

Der Beitrag Ethereum DeFi: This new token surged more than 900% in one week erschien zuerst auf Crypto News Flash.