Good morning, friends.
DeFi heavy post today.
Celo, Aave, Curve, Sushi Launch $100 Million Defi Initiative
Celo is a “mobile-first” blockchain platform.
It’s secured $100 million in funding for grants, education, and token incentives from DeFi protocols.
It’s interesting to remember an article we discussed several days ago, asking if DeFi was, ‘Fad or Hype.’
The answer?
Hype.
Fantom Token Jumps 50% After Launching $315 Million DeFi Program
The announcement of a new builder-centric incentive program gave a huge boost to Fantom’s native token, FTM, propelling its price by roughly 50% since yesterday.
FTM trading started at roughly $0.57 on August 30, according to crypto metrics platform CoinGecko.
Fantom is a blockchain platform based on Directed Acyclic Graph technology — which is also utilized by IOTA and Hedera Hashgraph. Back in 2019, rating company Weiss even went as far as calling Fantom one of the two cryptos that are better than Bitcoin.
With over one million transactions on the platform yesterday to boot, we can only conclude that DeFi is — drum roll please — going mainstream.
Ethereum scaling solution Arbitrum launches mainnet and raises $120 million in new funding
Offchain Labs, the developer of Ethereum scaling solution Arbitrum, has launched its mainnet.
The project has also raised $120 million in new funding led by Lightspeed Venture Partners with participation from Mark Cuban and others.
Arbitrum is the first scaling solution by Offchain Labs and the project is working on more solutions to scale Ethereum, said Goldfeder. “We will use the newly raised capital to grow our team and continue to invest heavily in R&D,” Goldfeder added.
This is where Arbitrum’s and Optimism’s approaches differ, specifically. Optimism limits smart contract sizes to what can be re-executed on Ethereum, while Arbitrum allows users to dissect smart contracts into pieces and prove fraud at the level of a single contract instruction, according to Bandak.
All of this money flowing around the internet can only make us think, “where the heck is it all coming from?”
We can only conclude this: there is a lot of money out there, and it seems to be raining right down on planet DeFi.
If you’re thirsty and your throat is dry, DeFi might be your oasis in the desert.
Pour Conclure
It’s truly astounding to see how much money is pouring into the DeFi-sphere, especially given its non-existent market size only a bit more than a year ago.
To think that DeFi is only a Fad is silly.
Bitcoin was a fad — who would buy… chuckle… internet coins?
NFTs were a fad — seriously? Who would waste their money on JPEGs of cartoons?
See the pattern?
Until Tomorrow,
Your Pal,
The Gopher
Disclaimer: None of this is to be deemed legal or financial advice in any way, shape, or form. You are reading opinions from an anonymous news publisher in Cartoon Gopher Format.
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