While the craze in decentralized finance (DeFi) has simmered down over the last few weeks, Spencer Noon, head of DTC Capital, says an up-and-coming crypto asset will likely launch a new phase of the DeFi frenzy.
In a new post, Noon tells his 22,000 Twitter followers that he’s keeping a close eye on Curve Finance (CRV) as the new cryptocurrency can potentially take the DeFi sector to greater heights.
“Cat’s out of the bag, this is correct. CRV is likely the next big domino to fall that puts DeFi back in a frenzy. That’s what happens when you’re [a] critical infrastructure for farms, have huge daily volumes, plus a lean cap table.”
Curve Finance is a decentralized exchange (DEX) for Ethereum-based tokens that bolsters the creation of liquidity by offering incentives to liquidity providers. One incentive enables liquidity pools to take fees from trades performed on the platform. The second incentive involves the exclusive awarding of CRV, the protocol’s governance token, to pools and users who have provided liquidity since the inception of the crypto asset in January.
“CRV will be awarded to Curve.fi liquidity providers. There won’t be any public sale or ICO. All users who have provided liquidity on Curve will be awarded CRV retroactively from day 1 based on how long and how much they have provided liquidity to CRV for.”
The team behind Curve Finance has yet to launch CRV but Coinbase is already mulling listing the token on the exchange.
At time of writing, Curve Finance is the seventh-largest DeFi protocol with over $247 million worth of assets locked, according to DeFi Pulse.
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Featured Image: Shutterstock/Bryan Vectorartist
Robinhood App Supports Screen Widgets on iOS 14
Robinhood widgets can be pinned to the home screen in various spots and sizes, allowing for many different layouts.
Robinhood’s application for iPhone has received a notable update today after Apple introduced the concept of Home Screen widgets in iOS 14, which provide information from apps at a glance.
As announced on the free-commission app’s blog, Robinhood widgets now allows users to check on their portfolio, holdings, and more, without having to tap into the app.
Robinhood widgets can be pinned to the home screen in various spots and sizes, allowing for many different layouts. Users can also place their investment app next to other everyday apps or create an entire screen with their favorite Robinhood destinations.
Updates bring many exciting features to the app users on iPhone, iPad, and Apple Watch devices. Specifically, Robinhood’s new widgets enables users to track their investments, gain additional insight into their investing habits and view the information about portfolio, holdings, specific stock symbols, among many others.
Swissquote Joins oneZero EcoSystem to Bolster Liquidity OfferingGo to article >>
Apple users around the world have been busy customizing their screens and sharing screenshots for the “widget gallery” where they can easily add and customize favorite apps. Prior to the latest OS version, users were only allowed to have their apps in a grid of boxes.
Despite the relative lack of 3rd party widgets at iOS 14 initial launch, some of top brands and tech giants have already released widget support. Investment apps, however, were notably absent from the early supporting apps on day one though, over time, widget support will be a standard feature for a large number of apps.
Just yesterday, Robinhood has reportedly closed a new round of capital, having raised an additional $460 million in an extension of its Series G round. In August, the quickly growing stock-trading app announced a $200 million Series G funding led by D1 Capital Partners and putting its valuation at $11.2 billion.
Robinhood has also made multiple changes to its options trading products, part of the improvements the app promised to do after one of its customers died by suicide thinking he incurred losses of over $700,000.
Visa-backed Anchorage Loads Up on Uniswap, DeFi Tokens
Anchorage, a digital asset custody provider, has added five new DeFi tokens, including Uniswap’s UNI, to its secure storage product.
- Anchorage now supports custody of five new DeFi tokens: Uniswap’s UNI token, AAVE, BAL, NXM, and YFI.
- The five DeFi protocol tokens are used as votes to control governance of their respective projects.
- By adding DeFi tokens, Anchorage makes it easier for institutions and investment advisors to gain exposure to the DeFi ecosystem.
Visa-backed crypto custody service Anchorage has added a set of leading DeFi protocols to its service. The idea is to make it easier for institutions and financial advisors to gain exposure to the emerging alternative financial ecosystem.
Anchorage added support for five DeFi governance tokens, including the recently released UNI token connected to the Uniswap decentralized exchange. It also added tokens from decentralized exchange and indexing protocol Balancer, lending platform Aave, yield optimization protocol Yearn Finance, and DeFi insurance provider Nexus Mutual.
These five tokens each represent a tradable stake in governance of the DeFi protocols themselves. Collectively, they have garnered billions in user funds, allowing holders to facilitate token swaps, generate loans, and/or earn interest on deposited assets.
Anchorage holds keys to digital assets in highly secure settings on behalf of its customers. The new additions should make it easier for institutional clients and new entrants to confidently invest in the rapidly growing DeFi products. According to DeFi Pulse, value locked in DeFi has increased from less than $2 billion at the end of June to more than $9 billion today, and Uniswap’s UNI token is up more than 60% since launching on September 16.
DeFi protocols operate using automated code contained in smart contracts. They make it possible, for instance, to deposit one set of crypto assets as collateral for a loan in a different crypto asset without going through a centralized institution, like a bank. But while the protocols operate automatically, decisions like setting interest rates on deposits or creating partnerships still require human intervention.
Governance tokens like UNI represent voting rights for those decisions. By committing, or “staking,” a certain number of tokens, users can bring a proposal for a vote or cast ballots for a particular outcome. Governance tokens are also tradable among users, making them potentially lucrative investments; as the value of the underlying protocols increase, so too should the value of voting rights to control them.
Anchorage has previously added support for other DeFi protocols, among them lending services Compound and Maker, in addition to more established digital assets like Bitcoin and Ethereum. The recent additions, however, signal a broader shift taking hold in the crypto landscape, as the utility and earnings generated by DeFi push the assets into investors’ portfolios.
Coinbase wallet users targeted by new Android malware
A newly discovered trojan, known as Alien, is attacking crypto apps on Android phones, including Coinbase, Blockchain.com, and Luno. This new malware strain is based on the notorious Cerberus trojan, which wreaked havoc in the Google Play store until the team responsible became complacent. Lack of continued distribution allowed Google Play Protect to almost completely eradicate Cerberus by August 2020.
Alien targets 226 Android apps, mostly geared toward the banking industry. In addition to stealing user credentials, the malware can install and remove applications from the infected device, and even intercept notifications:
“Most importantly, it offers a notifications sniffer, allowing it to get the content of all notifications on the infected device, and a RAT (Remote Access Trojan) feature (by abusing the TeamViewer application), meaning that the threat actors can perform the fraud from the victim’s device.”
The choice of Coinbase and Blockchain.com is understandable as these are two of the most popular crypto apps. It is less clear why the hackers targeted the much smaller Luno exchange (which was recently acquired by the Digital Currency Group), yet omitted (so far as we know) other industry giants like Binance.
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