The total value of assets locked in leading decentralized exchange Uniswap has plummeted by 38% in 24 hours amid the conclusion of its UNI liquidity rewards program on Nov. 17. Meanwhile, “vampire” clone SushiSwap has doubled its TVL and is aggressively pursuing additional liquidity. As of this writing, Uniswap’s TVL is down a total of 43% since posting an all-time high of $3.07 billion just three days ago. It now sits at $1.75 billion and is still falling. Following the sharp decline in Uniswap’s liquidity, token holders have embarked on the process of voting for a new governance proposal that …

While many decentralized finance tokens suffered heavy losses last month, prompting hastily written obituaries about the DeFi “bubble,” metrics measuring user activity saw sustained, sector-wide growth. According to crypto market data aggregator Dune Analytics, the total number of unique DeFi user addresses is around 860,000, an increase of roughly 10 times over the past year. However, that figure is cumulative, and users might have more than one address. Despite many DeFi tokens shedding significant value last month, the sector’s user count increased in October by nearly 40%, from roughly 555,000 to 775,000. A further 85,000 users joined DeFi during the …

Leading decentralized exchange Uniswap has announced an “unofficial community call” set for Nov. 12 at 5:00 pm UTC. The call is scheduled to discuss several core governance issues central to Uniswap, including the future of its liquidity mining program. After a slew of rival DEX clones sought to siphon away Uniswap’s users through exorbitant native token rewards to liquidity providers during the DeFi boom, Uniswap retroactively airdropped its native token UNI to users and launched its own liquidity mining program in mid-September. Uniswap’s current liquidity mining program is scheduled to end on Nov. 17, with the call set to discuss …

Bitcoin’s long-waited bull run and the recent wave of corporate and institutional investors allocating significant portions of their reserves to Bitcoin (BTC) are all signs that the pace of crypto’s mainstreaming is rapidly accelerating: But has the path to mass adoption come at the cost of privacy and decentralization? Know Your Customer and Anti-Money Laundering laws have forced the majority of cryptocurrency exchanges to become more transparent about who their users are, and those who refused have had to limit the jurisdictions in which they can offer services. In order to operate legally in many countries, many exchanges have had …

The trading volume on decentralized exchanges, or DEXs, reached $42.6 billion during Q3 2020, marking an increase of 1,132% on the previous quarter, according to a recent industry report from TokenInsight. However, October saw figures pull back a little from September highs, as Bitcoin (BTC) prices started to pump, re-capturing traders' attention following the previous few months' decentralized finance, or DeFi, boom. Volumes in July alone reached $5 billion, which was up one third on the entire Q2 figure. Monthly volumes continued to rise throughout Q3, posting an average monthly increase of over 140%. The share of volume between an …

A clumsy trader claims to have “destroyed” his life after inadvertently paying $9,500 in fees for a $120 transaction on the decentralized exchange Uniswap. On Nov. 5, Reddit user u/ProudBitcoiner posted that he had accidentally paid 23.5172 Ether (ETH) for a single trade after getting the “Gas Limit” and “Gas Price” input boxes confused in the MetaMask wallet. “Metamask didn’t populate the ‘Gas Limit’ field with the correct amount in my previous transaction and that transaction failed, so I decided to change it manually in the next transaction, [...] but instead of typing 200,000 in ‘Gas Limit’ input field, I …

The co-founder of crypto data aggregator Markets Science, Twitter user “Bitdealer,” has shared a chart indicating negative correlations between 11 top DeFi tokens and Bitcoin (BTC) over the past 45 days up to Nov. 1, with AAVE showing neutral correlation and UNI showing confluence of less than 0.1. Seven of 13 DeFi tokens were also found to have negative correlations with Ethereum (ETH), despite Ethereum powering much of the DeFi ecosystem. With many decentralized finance tokens struggling while Bitcoin surged in price this week, analysts have identified a longer negative correlation between DeFi tokens and BTC. However, the sector found …

A decentralized exchange is vowing to take on Uniswap by tackling some of the biggest downsides associated with the DeFi platform. According to Blocknet, Uniswap has been growing exponentially — but they believe the popular decentralized exchange has limitations. Trading is restricted to Ether (ETH) and ERC-20 tokens, and all of this brings disadvantages for cross-chain trading. Other concerns expressed by Blocknet include the security risk associated with pegging assets synthetically. As an example, Blocknet points to tBTC, where deposits had to be abruptly brought to a halt after a security audit missed issues that could have ended up putting …

The second-ever governance proposal for the Uniswap decentralized exchange (DEX) is more than halfway to reaching a quorum with a little over 30 hours to go. If passed, the proposal will see 12,619 wallet addresses that interacted with Uniswap via a proxy contract receive 400 UNI tokens each. 5.05 million UNI in total will be allocated to the users of MyEtherWallet, Argent, Dharma, DeFi Saver, Nuo, Eidoo, Opyn, Furucombo, Monolith, and Rebalance. The proposal was put forward by Compound-based lending and savings protocol Dharma, who claimed its users felt “left out” by the initial distribution. The cohort of proxies were …

All eyes are set on Bitcoin (BTC) as the digital asset continues to trek to a new 2020 high. Meanwhile, the hype around decentralized finance projects continues to die down, especially as token prices plummet. Data shows that trading volume for decentralized exchanges, or DEXs, is dropping rapidly, further signaling the decline of the DeFi sector. The recent hack of Harvest Finance saw volumes across DEXs boom for one day, especially Uniswap and Curve. According to media reporting and Harvest investors, the hacker executed a flash-loan exploit that used millions of dollars worth of cryptocurrency across both Uniswap and Curve …

A recent report from Cer Live, a crypto exchange ranking platform, indicated that 14 of the top 25 decentralized exchanges, or DEXs, scored poorly in terms of cybersecurity. The report looked at a variety of unique problems that most DEXs face, including fake token listings, the prevalence of slippage, delays in transaction confirmation, and a lack of data about listed trading pairs. They also looked at whether each exchange had undergone security audits, offered bounties to incentivize the public discovery of bugs, ensured adequate end-to-end security, and more. The assessment then allocated a score ranging between 1 - 10 based …

The third-quarter decentralized finance boom has resulted in the Ethereum (ETH) network processing more than twice the daily transaction volume of Bitcoin (BTC). According to crypto market data aggregator Messari, the 30-day rolling daily average for Ethereum transaction volume is currently $7 billion, with Bitcoin processing less than $3 billion. If the current trend continues, Messari predicts Ethereum will become the first public blockchain to settle $1 trillion in transfers over a calendar year. Ethereum’s previous strongest calendar year relative to Bitcoin was 2018, when it processed half a billion in volume, which was 59% as much as Bitcoin’s $849 …