DeFi lending protocol Aave is deliberating ways to mitigate risk on its Aave V2 ETH platform after a $60 million short attack.On Tuesday, Mango...

We’re keeping an eye on the best Oculus Quest 2 Black Friday & Cyber Monday 2022 deals, don’t blink or you might...

Lending was one of the first essential financial use cases DeFi protocols provided us with back in 2018.

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One of the leading Decentralized Finance (DeFi) protocols on the planet AAVE last week expanded its horizon by introducing AAVE V3 to the world. The reaction to this launch has been exceptional to the extent where the Dapp brought back lost investors and pushed the altcoin beyond expectations. AAVE reaches Stage 3 AAVE V3 was […]

DEXs are moving in recent market action.

Ethereum is on a deflationary course as The Merge approaches.

This week, the Ethereum network’s burn rate reached a milestone by surpassing 2 million ethereum burned worth $5.81 billion since August 5, 2021. Metrics show the crypto network has a 24-hour burn rate of 1.74 ether per minute, which equates to roughly $5K worth of ether destroyed every 60 seconds. 2 Million Ethereum Burned, More…

The post $5.8 Billion Burned: Second Largest Crypto Network Records 2 Million Ethereum Destroyed in 7 Months appeared first on Bitcoin News Miner.

Initially, Origin will only be available on desktop devices through the Mavis Hub.

The post Axie Infinity Releases Details About Origin’s Soft Launch appeared first on BitPinas.

Aave (AAVE) has been surging over the last two days. The coin in fact…

The post Strong whale accumulation pushes Aave (AAVE) over 30% in 2 days appeared first on Coin Journal.

The current DeFi market is bearish as most of the tokens are priced low compared to previous months. A bear market can be caused by a variety of events, including bursting market bubbles, a poor or lagging or sluggish economy, wars, geopolitical crises, pandemics, and significant paradigm shifts in the economy, such as changing to an internet economy. Another reason can be the isolation between NFTs and DeFi space. Let’s see how NFTs can help revitalize the bearish DeFi cycle. Isolation between NFTs and the DeFi space Looking back, we can see that NFTs and DeFi protocols have worked separately in the past. However, the current bearish moves in the Defi market may be corrected by the widespread adoption of NFTs.  This is because NFTs have the capacity to assign value to nearly any object. DeFi, on the other hand, aids in the unlocking of a certain asset’s worth. When combined together, they can balance each others’ strengths and weaknesses and enhance their capabilities. Application of NFTs to the DeFi world NFTs help revolutionize the DeFi world because of the following reasons Allow for customizable and exact roles for the community members involved such as ‘avatars’ in the Metaverse games and ‘validators’ for any DeFi protocol/blockchain like Cardano. Make a distinction between the cost of government authority and the cost of native tokens. It’s possible to make DeFi a gamification land. Protocols that can fine-tune scarcity and utility-based value. Solves the illiquidity issue with veTokens The intersection of NFTs and DeFi This section will cover a few cases where the intersection of NFTs and DeFi looks promising- Uniswap v3: The only way to introduce concentrated liquidity into Uniswap v3 was to tokenize distinct LP positions. This innovative adjustment resulted in more use, resulting in higher revenues for LPs. Curve Finance- Solidly Exchange: veCRV’s Curve Finance problem was solved by Solidly exchange. Solidly enabled the lock of tokens for ve governance tokens to be tokenized, allowing for a single lock position and several lock positions with different time durations. BinaryDAO.finance: BinaryDAO.finance, a yield DAO, reinvented APR boosting by releasing a collection of 2,500 NFTs with a 25% APR for stakers. In comparison to the status quo of depending on physical locks, the release earned revenue for bootstrapping liquidity and making APR increases liquid. Nacho Finance: Nacho Finance, an algorithmic stable coin technology, is expanding its ecosystem to include a fun and engaging game. Their Luchador NFTs will allow gambling on NFT bouts and reinforce the peg by acting as a black hole for their token’s upgrades. $NACHO Final thoughts UniSwap v3 and Solidly, for example, are very different from NFT assets with defined amounts that are distributed, such as BinaryDAO and Nacho Finance. Both protocols, however, have one thing in common: they both aim to improve the protocol user’s experience. The construction of Defi protocols is significantly influenced by the techniques employed by UniSwap v3 and Solidly. However, the innovation fostered by NFT assets and the related value addition should not be underestimated. Whether you like it or not, widespread integration between DeFi-NFTs is coming.

The post Is it possible for NFTs to revive the present bearish DeFi cycle? appeared first on Cryptoknowmics-Crypto News and Media Platform.