Welcome to Finance Redefined, your weekly DeFi Insights – a newsletter designed to bring you the most significant developments of the past week.
Chinalysis’ Chief Scientist shares his views on the Tornado Cash saga and says the incident has created a loophole for illegal fund mixing services, but the real impact of the sanctions will be known in the long run.
Ethereum’s post integration ecosystem could have a major impact on the crypto economy, according to a new report. Institutional lending platform Mapple Finance has launched a $300 million loan pool for Bitcoin mining farms.
Tribe DAO, a decentralized autonomous organization, has voted to reimburse users affected by the $80 million exploit of DeFi platform Rari Capital’s liquidity pools. BNB Chain has launched a new community-led security initiative called Avenger DAO.
The top-100 DeFi tokens had a mixed week in terms of price action by market cap, with many tokens trading in the red and a few showing weekly gains.
Tornado cash left empty, time will tell what will fill it – Chinalysis Chief Scientist
The ban on cryptocurrency mixer Tornado Cash leaves a gap for illegal fund mixing services, but more time is needed before we know the full impact, said Chinalysis’ chief scientist.
During the recently launched Chinalysis blockchain analytics platform Storyline, Cointelegraph asked Chinalysis Chief Scientist Jacob Illum and Australia and New Zealand Country Manager Todd Lenfield about the impact of the Tornado Cash ban.
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Tribal DAO has supported the repayment of the victims of the $80 million hack
After months of uncertainty, Tribe Dao has voted to pay users who suffered an $80 million exploit on DeFi platform Rary Capital’s liquidity pools.
After several rounds of voting and governance proposals, Tribe Dao, which consists of Midas Capital, Rary Capital, Fei Protocol and Vault Protocol, decided to vote on Sunday with the intention of fully refunding the victims.
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Providers may expand their institutional presence in the crypto space: report
After last week’s merger event, the carbon footprint of the Ethereum blockchain is expected to decrease by 99%. Positioning itself as a service for retail and institutional investors, the reform could have a significant impact on the crypto economy, according to a report from BitWise on Tuesday.
The company predicts long-term investors a potential return of 4%–8% on their stake in Ether (ETH), and JP Morgan analysts predict that production on PoS blockchains will double to $40 billion by 2025.
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Maple Finance launches a $300 million loan pool for Bitcoin mining companies
On September 20, institutional crypto lending protocol Maple Finance and its affiliate Icebreaker Finance announced that they will provide up to $300 million in secured debt financing to public and private Bitcoin mining companies. Qualified entities that meet Treasury Management and Energy Strategy standards across North America, as well as those in Australia, can apply for funding.
On the other hand, the enterprise seeks to provide risk-adjusted returns in the low tens of percent (up to 13 percent per year) to investors and capital allocation. The pool is open only to accredited investors who meet the high income and/or high net worth qualifications.
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BNB Chain will launch a new community-managed security system to protect users
BNB Chain, the native blockchain of Binance, has launched AvengerDAO, a new community-based security initiative to help protect users from scams, malicious actors and potential exploits.
The security-focused DAO has been developed in partnership with major security firms and popular projects such as Certik, TrustWallet, PancakeSwap and Opera to name a few.
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Overview of the DeFi market
Analytical data shows that Defy’s total price has been locked down and recorded a slight dip from last week. TVL’s value at the time of writing was approximately $50.64 billion. According to data from Cointelegraph Markets Pro and TradingView, DeFi’s top 100 tokens by market capitalization had a mixed week, with many tokens recovering over the weekend and a few others trading in the red on the weekly charts.
Compound ( COMP ) was the biggest gainer with a 15% gain over the past seven days, followed by PancakeSwap ( CAKE ), which gained 8.8%. Theta Network (THETA) was another token in the 100 to post a 5% weekly gain.
Thanks for reading this week’s roundup of the most impactful DeFi developments. Join us next Friday for more stories, insights and lessons.