If you’re looking at accepting cryptocurrency payments such as Bitcoin, one of the most important issues is whether all transactions will be safe and secure. While it is a known fact that due to blockchain technology, crypto payments are a safer method of payment for goods or services, the threat of internet fraud is always apparent so you need to be aware of the potential for untoward activities such as hacking and money laundering. For this reason, it makes sense to ensure that you enforce strict measures to assure your
New DeFi yield farming platforms have been coming thick and fast over the past month or so with new opportunities popping up almost every day. The latest offering garnering attention is Pickle Finance which aims to help mitigate the relative instability in stablecoins. The majority of DeFi doppelgangers do mostly the same thing with a few slight variations. Essentially, offering a worthless governance token as an incentive to lure liquidity providers. In some cases, the token performs well for some time, while others dump just as quickly as they pump.
The success of yEarn finance (YFI) has led to the creation of fresh copies and hard forks of the platform. YFFI is a DeFi-based system that branched from yEarn to provide better features than what was previously available. The platform claims that it offers everything yield farmers and liquidity miners want since it owns “the Freshest Crops in Town.” Table of Contents What is YFFI? The protocol is a hard fork of YFI that seeks to change how new tokens are created on its mother platform. YFFI claims that YFI tokens
A brief report on the YFValue protocol, its background/history, value and mission, audit status, yield farming pools, and the YFV token. Yield farming and liquidity mining projects have been the new DeFi craze lately, especially aggregators. The popularity of yield farming aggregators arises from the fact that they automatically switch users’ funds among the best sources of generating income. The first project to kickstart this chain reaction was yearn.finance (YFI). YFValue Protocol is a fork of yearn.finance. It was born out of the idea that the DeFi playing field wasn’t
The rise of DeFi protocols and the demand for tokens in liquidity pools may be contributing to a huge surge in the supply of stablecoins.According to an Sept. 3 tweet from Coin Metrics co-founder Nic Carter, the current supply of stablecoins Binance USD (BUSD), Dai (DAI), HUSD, Paxos Standard Token (PAX), USD Coin (USDC), USDK, Tether (USDT), USDT_ETH, and USDT_TRX has been increasing by roughly $100 million daily for almost two months.“Everyone got so excited about DeFi no one pointed out that stablecoins have been adding $100m/day since mid-July,” said
YFII is a DeFi protocol that facilitates yield aggregation and uses a token halving model to ensure equitable distribution of tokens. It is a fork of YFI. Decentralized lending is the driving force behind decentralized finance (DeFi) projects. Those who provide liquidity to these projects earn interest through yield farming or liquidity mining. Some DeFi networks have their own token that increases rewards to yield farmers. Others like YFII have been forked from other protocols to prevent a reduction in pool liquidity through a scheduled halving model. In the Chinese
Tether (UDST), the world’s largest stablecoin by market capitalization, is again outperforming major altcoin XRP.On Sept. 1, Tether surpassed XRP as the third-largest cryptocurrency by market cap, becoming the second-largest altcoin after Ether (ETH).As of press time, USDT market cap accounts for more than $13.4 billion, according to data from crypto analytics website Coin360. XRP is now the fourth-largest coin by market cap at $13 billion.The latest movement in ranking is not new to the crypto market in 2020. Tether outstripped XRP as the third-largest crypto in May 2020.Both cryptocurrencies