Bittime - The DeFi (Decentralized Finance) industryis showing its strength again. Total value locked (TVL) in DeFi protocols surpassed $100 billion for the first time in more than two years. Here'sa summary of the hottest DeFi news this week!
TVL Surpasses $100 Billion
The DeFi ecosystem is experiencing bullish price movements. Total value locked (TVL) surpassed the $100 billion mark, the highest achievement since November 2021. This increase in TVL indicates increasing user activity and trust in DeFi platforms.
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MakerDAO Prepares 'Endgame' for DAI to Face Tether
Decentralized finance protocol MakerDAO is preparing to launch an ambitious transformation titled "Endgame." Endgame focuses on improving scalability and continued user growth.
One of Endgame's main goals is to bring MakerDAO's stablecoin DAI to compete with Tether (USDT), the current stablecoin market leader. MakerDAO aspires to increase DAI's market cap from $4.5 billion to " $100 billion and beyond."
MakerDAO will rebrand to make it easier to introduce and attract more users. The first phase of Endgame, scheduled for mid-2024, will involve hiring a marketing company to rebrand MakerDAO as more understandable and enjoyable.
Also Read: What is Maker Protocol (MakerDAO)?
Unizen Compensates Hack Victims $2.1 Million
DeFi platform Unizen announced that it would compensate users who lost assets due to the hack. This decision was taken following a hacking incident that caused a loss of approximately $2.1 million. Unizen will immediately return lost user funds of up to $750,000.
Also Read: What is Composability in DeFi?
Ethena Tops the Highest DApp Earnings
Ethena managed to become the DApp (Decentralized Application) with the highest daily revenue, surpassing $6.8 million over the past week. This achievement makes Ethena the top DApp outside of major blockchains such as Ethereum and Tron.
Also Read: What is Ethena (USDe)? Digital Payment Solutions
BNB Chain Develops Layer-2 Ecosystem with New Rollup Service
BNB Chain, the ecosystem powered by the BNB token, announced the launch of its rollup-as-a-service (RaaS) solution. RaaS aims to help projects build layer-2 networks on top of BNB Chain.
With RaaS, projects can leverage the technological infrastructure needed to run a layer-2 network, thereby expanding the BNB Chain ecosystem.
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Conclusion
DeFi is showing positive signs of revival. TVL increases and initiatives from leading protocols such as MakerDAO are optimistic signals for the future of DeFi. MakerDAO's planned Endgame transformation has the potential to shake Tether's dominance in the stablecoin market.
In addition, Unizen's post-hack user reimbursement and BNB Chain's layer-2 expansion also illustrate the dynamic development of DeFi. With innovation and increasing adoption, the future of DeFi looks increasingly promising. DeFi users and investors certainly need to continue to follow the latest developments in this ecosystem.
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How to Buy Crypto with Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
What is Interest Rate in Defi?
What is Yield Farming in DeFi?
What is a Liquidity Pool in Defi?
DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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