Nasdaq Lists New Index for Decentralized Finance Projects Called Defix

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Nasdaq Lists New Index for Decentralized Finance Projects Called Defix
Nasdaq’s Defix index will offer real-time tracking of crypto assets of different blockchain projects like MakerDao, Augur, Gnosis, Numerai, 0x and Amoveo.
Nasdaq Lists New Index for Decentralized Finance Projects Called Defix

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Source: CoinSpeaker

Coinbase announces Bootstrap Fund to help support DeFi protocols

With the creation of the USDC stablecoin, Centre Consortium including Coinbase and Circle had strengthened their hold over stablecoins in the volatile market. Coinbase has now stepped up its efforts to encourage growth in the Decentralized Finance (DeFi) space after it announced the USDC Bootstrap Fund for supporting DeFi protocols. Here, the exchange will be […]
The post Coinbase announces Bootstrap Fund to help support DeFi protocols appeared first on AMBCrypto.
Source: AMB Crypto

Is DeFi The Future of Crypto Finance? Some Big Industry Names Think So

The hot potato in the world of crypto at the moment is decentralized finance. Satoshi’s original notion of cutting out the bankers is now possible in this new world of digital assets and DeFi protocols. The industry is still embryonic but some of the bigger names in the world of crypto and finance are finally paying attention.
Crypto Wealth Management Built on ETH
By definition decentralized finance is a movement that leverages decentralized networks to transform old financial products into trustless and transparent protocols that run without intermediaries. In essence it is doing away with the banks and middlemen to allow people to manage their own wealth on autonomous networks governed by smart contracts.
DeFi is currently dominated by DAI which is a decentralized hard asset backed, dollar pegged stable coin.  DAI, and the MakerDAO platform uses margin trading to respond to changing market conditions while preserving its value against the major world currencies. Maker is a smart contract platform on the Ethereum blockchain that backs and stabilizes DAI through a series of dynamic feedback systems called Collateralized Debt Positions (CDPs).
By depositing ETH, people can borrow stable DAI to make other investments without risking the loss of ETH, which is what happened to most during the ICO boom. Essentially it is a crypto credit facility that can issue loans at certain interest rates. Stakers are also able to use it to generate interest while protecting their stake. Industry observer Alex Saunders noted that in a world of negative interest rates DeFi could be the answer …

Imagine #Defi Apps offering 10%pa in a world of negative interest rates. Accessing stocks, commodities & tokenised assets. Portfolios auto rebalance. Smart contracts allow custody & insurance. No middlemen taking fees. The future of wealth management is being built on #Ethereum. pic.twitter.com/Crcfm3OjhO
— Alex Saunders (@AlexSaundersAU) September 10, 2019

Maker is not the only DeFi platform out there but it is the most popular at the moment. Two others have recently be noticed by crypto exchange giant Coinbase which announced a new fund to invest in the fledgling industry.
Coinbase Invests in DeFi
In a company blog post yesterday, Coinbase stated that it aims to encourage growth in DeFi by channeling funds into the development of two protocols. To begin it will contribute 1 million of its own stablecoin, USDC, each to the development of the Compound and dYdX platforms.
Coinbase USDC Bootstrap Fund lead Nemil Dalal said that DeFi is a tiny portion of the world of banking and financial transactions, adding that the company is tracking growth in an effort to further fund its expansion.
Just last month Nasdaq announced that it was adding a decentralized finance index (DeFiX) to track the projects working in the field. It initially included Maker, Augur, Gnosis, 0x and two other obscure tokens but failed to include Ether which currently powers most of the industry.
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Ethereum DeFi project announces new TokenSet, 50 Day Moving Average strategy

Set Protocol, an Ethereum DeFi project, has announced that it will be deploying their own 50 day moving average strategy. It is designed to rebalance when the price crosses the 50 SMA technical indicator, and it does so automatically. The strategy involves selling into the USDC stablecoin during an economic downturn and ETH buyback during […]
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Source: AMB Crypto

CRED: The DeFi App That is Disrupting Lending

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CRED: The DeFi App That is Disrupting Lending
Cred, a decentralized lending ecosystem that facilitates access to credit using cryptos as collateral, is set to disrupt the traditional lending market.
CRED: The DeFi App That is Disrupting Lending

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Source: CoinSpeaker

Ethereum 2.0 and DeFi Status Update, Price Analysis of Ether (ETH) and More From Delphi Digital Report

In their new research report, ‘Entering the Ethereum‘, Delphi Digital has outlined and analyzed the short and long term sustainability of Ethereum with the coming updates and stiff competition.
Ethereum 2.0, the serenity update is expected to be completed by the year 2021 (estimated). The new serenity update will implement PoS and sharding to improve scalability and reduce transaction cost. However, there are other platforms like EOS, Cardano, and Tron which offer faster transactions and scalable ‘smart contracts.’ However, Ethereum still leads the pack in terms of market capitalization and popularity in the crypto community.
Ethereum is the second-ranked cryptocurrency w.r.t. market capitalization. The dominance of Ethereum over the cryptocurrency market on 21st April 2019 is 10.1%. 
Delphi Research Ethereum Update as of 7th March 2019
DeFi (Decentralized Finance) on Ethereum
DeFi, Decentralized Finance, is a new system of interoperable finance that aims to build a ubiquitous system of financial products based on blockchain and smart contracts.

“Over 2 million ETH are currently being staked in DeFi Apps as of March 3rd, 2019.”

However, the research also revealed that MakerDAO stakes 98% of the total Ethereum currently staked in DeFi systems. Hence, if DeFi gains considerable momentum, then higher Ethereum stakes can be expected to open up. DeFi provides a financial system that is accessible to anyone with the internet.
With the days of the ICOs behind us, the Ethereum reserved for new tokens is expected to the be 0 (Zero) in 2019. Moreover, approx 275k Ethreum is staked per month to facilitate the DeFi systems, which is expected to increase with time. However, the miners are also releasing new coins every 2 minutes. Hence, it creates more selling pressure than buying.
Also read: Vitalik Finds Flaws in Digital Delphi’s Ethereum Research, Says Report “Very Unlikely to be True”
Correlation Between Crypto-Assets
Delphi Digital statistically also confirmed the crypto-assets are currently coupled significantly with Bitcoin. The trend started soon with the beginning of the bear markets. According to the report, the correlation between price movements in Bitcoin and Ethereum has been strong for the past 12-months.
The report also included:

“Given the extremely high intra-market correlations we previously discussed, this is a trend we are monitoring closely as ETH may be poised to outperform if BTC rallies.”

On a cautionary note, the longs to the short ratio on Bitfinex hit extreme lows during December which was followed price rise from $85 to $150. Furthermore, the long to the short has reached its five-month high.
Long Term Concerns in Ethereum 2.0’s Development

Delphi Digital conducted a comprehensive study of the proposed plans with Ethereum 2.0. According to their analysis, while the newly proposed mechanism will reduce fees and accommodate more projects, there is a substantial barrier to entry because of the ‘Gas fees’ currently.
Moreover, the PoS network will necessarily require a large number of users on the platform. The research added:

“A diversified and profitable validator network is crucial for the security and longevity of the
network, but that’s unattainable under the currently proposed specs without significant network fees. At the same time, expansion of network fees will only occur with substantial dapp growth and general adoption, and that’s difficult to imagine being built on a network that’s not considered secure.”

The price analysis from the Research also revealed that while Ethereum has entered the over-bought region according to RSI. However, Ethereum has maintained bullish momentum many times after reaching this level in the past.

Comparison between EOS and Ethereum Dapps
 
Last but not least, the report also included the Dapp report and comparison with the EOS platform.
The report mentioned that there are over 2000 Dapps developed on Ethereum and EOS. However, they are still complicated to use and needs improvement.

Read the full report by Delphi Research here. Please share your view on the research. 
The post Ethereum 2.0 and DeFi Status Update, Price Analysis of Ether (ETH) and More From Delphi Digital Report appeared first on Coingape.
Source: CoinGape

DeFi is Growing into the Next Generation of the Crypto Revolution

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DeFi is Growing into the Next Generation of the Crypto Revolution
The movement around decentralized finance (DeFi) is gaining swift traction, and many believe that it’s DeFi that will dominate blockchain space. Let’s find out what it is and why DeFi is such a big deal for the crypto community.
DeFi is Growing into the Next Generation of the Crypto Revolution

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Source: CoinSpeaker