• Bitwise DeFi Crypto Index Fund
    Alt coins

    Bitwise launches DeFi Crypto Index Fund

    Bitwise Asset Management’s new index fund includes nine decentralized finance cryptocurrencies, including Uniswap, Aave, and Maker

    The new Bitwise DeFi Crypto Index Fund seeks to take advantage of the rapidly growing DeFi market, which is increasingly seen as a viable alternative to traditional finance, offering peer-to-peer financial services like loans and lending, decentralized exchanges, and derivatives, among others.

  • $13M lost in yearn.finance exploit
    Alt coins

    More than $11M lost in yearn.finance exploit, with YFI token plummeting

    The YFI governance token fell sharply from $34,700 to the low $30,000s, as the protocol’s users wonder whether they will be compensated

    “Banteg”—a core developer on the DeFi protocol whose Twitter bio says they are “ahead of the curve”—confirmed that the vault ended up losing $11 million. He went on to sow confusion by saying that deposits had been disabled while an investigation took place… and later confirmed that this isn’t possible given how the ecosystem is decentralized.

  • Yearn creator new DeFi protocol
    Technology

    Yearn Finance creator announces new DeFi credit protocol

    Andre Cronje’s latest project gives users a 99.5% U.S. dollar-based credit line via its yCredit ERC20 token

    What makes this system much more interesting is that Cronje is highly regarded by the cryptocurrency community. As Modern Consensus reported in late September, his projects are trusted so much that when his wallets deployed a contract that he was secretly testing for a new gaming protocol, Eminence.Finance, $15 millions was deposited by users who wanted to front-run other investors before he asked for investments. And before he worked on security, as it turned out.

  • First DeFi merger
    Alt coins

    First DeFi merger? Yearn.Finance and Pickle Finance join forces

    The two DeFi protocols aim to ‘reduce duplicate work, increase specialization, and to leverage shared expertise.’ Of course, there was that $20 million Pickle hack

    As part of the integration, deposits made into Yearn’s v2 Vaults and Pickle’s Jars will merge, meaning that users making deposits will earn rewards from both the protocols. The merger will become effective when the second version of the Yearn.Finance protocol—which is currently under development—comes online.