Uniswap Collecting More than Double the Daily Fees Generated by Bitcoin

Decentralized finance (DeFi) project Uniswap’s V3 has achieved $1 billion volume in 24-hours in just a week of its launch.

In the past 24-hours, Uniswap v3 recorded $862 million in liquidity and $1.74 billion in volume. As of writing, the volume is at $916 million.

This surge in activity on Uniswap has been the result of Dogecoin-inspired meme coins such as SHIB, AKITA, and WOOF. With these coins not available on centralized exchanges, the retail crowd has been using the DEX to trade these coins.

Up until today, they all have been at the front page of Uniswap, accounting for most of the volume. Wrapped Dogecoin is now the only one left in the top 10 after Ethereum co-founder Vitalik Buterin dumped a ton of supply of these meme coins, which has been unwittingly sent to his address and sent the proceeds to the charity.

These retailers chasing the meme coins were the ones congesting the Ethereum network this time, unlike the Crypto Kitties in 2017, and sending the fees on the second-largest network and Uniswap flying.

This helped Uniswap surpass Bitcoin in daily fees. Compared to Uniswap’s nearly $9 million daily fees, Bitcoin only did almost $4 billion. The 7-day average fees for Uniswap and Bitcoin stand at $6.6 million and $5 million, respectively, as per Crypto Fees.

For four days in a row, the popular DEX has surpassed Bitcoin’s daily fees thanks to the retail’s dog meme mania.

Meanwhile, average fees on Ethereum hit a new ATH on Wednesday at $70, generating $107 million in daily fees with $65 million as the 7-day average.

Ethereum fees have gone 2x higher than the previous ATH with “increased competition for MEV should push fees even higher,” noted Lucas Nuzzi from Coin Metrics.

According to him, SHIB was the driver of this spike, but MEV had a clear role in pushing fees higher. MEV increases fees because bots are willing to pay higher fees to extract value and out-of-band payments decrease the certainty of what a “sufficient” gas price should be, leading to overpaying.

EIP-1559 that is coming with the London hard fork in July is expected to normalize some of this volatility.

Read Original/a>
Author: AnTy

Hungary to Cut Tax on Crypto Earnings to 15% from 30.5% to Help the Economy Recover

Hungary to Cut Tax on Crypto Earnings to 15% from 30.5% to Help the Economy Recover

The finance minister expects “several billion forints” of revenue from this tax reduction while its inflation spiked to above 5% in Q2, the fastest in Europe and the highest since 2012 as it sees no reason to make substantial cuts in spending next year.

Hungary is all set to reduce tax on cryptocurrency earnings by more than 50%, from the current rate of 30.5% to 15%, said Finance Minister Mihaly Varga in a Facebook post.

“Tax cuts and tax simplifications will continue next year: we will also help relaunch the economy through tax policy.”

As part of the post-COVID19 relief efforts, the government is considering cutting the taxes on crypto trading. It expects “several billion forints” of revenue from it, as per the video message posted by the finance minister.

In Hungary, buying and selling crypto assets are classified as “other income” for the purpose of taxation.

Hungary, which has also been involved in a discussion of central bank digital currency (CBDC) like the rest of the world, has been seeing an uptick in cryptocurrency trading this year, much like everywhere else, thanks to the raging bull market.

On Monday, Varga also said that he was not afraid of the economy overheating as it recovers from the pandemic and that there is no reason to make substantial cuts in spending next year.

“We are not afraid of the economy overheating, but we continuously monitor inflation, the forint’s exchange rate, and deficit and debt indicators,” he said in an interview on business website portfolio.hu.

“We do not see any problems that should force us to cool the economy already in 2022 … and make bigger spending cuts.”

Prime Minister Viktor Orban had said he would insist on an expansionary budget for 2022 following a deep 2020 recession caused by the pandemic and resulting lockdowns.

However, inflation is spiking to above 5% in the second quarter, increasing more than estimated.

Inflation in Hungary has been increasing the fastest in Europe and the highest since 2012. However, core inflation, which doesn’t include volatile food and energy prices, only rose 3% in April, the lowest in two years.

Read Original/a>
Author: AnTy

Burnt Finance Raises $3M For A Solana-based NFT Marketplace; Famous for Burning Banksy Art Piece

Burnt Finance Raises $3M For A Solana-based NFT Marketplace; Famous for Burning Banksy Art Piece

Burnt Finance raises $3 million seed round funding.  The platform aims to decentralize and tokenize NFTs.

The anonymous NFT artist known for selling a Banksy street art as a non-fungible token (NFT), Burnt Banksy, has raised $3 million seed funding from private investors to launch a decentralized NFT minting and auction protocol. The protocol is built on Solana blockchain (SOL) providing a solution on how NFTs and blockchain synthetic tokens are minted and auctioned.

Some of the key investors in this round include Alameda Research, led by Sam-Bank Freidman who is also part of the Solana founding team, DeFinance, Multicoin, and Injective Protocol. The seed funding round also saw Individual investors such as Sandeep Nailwal (COO of Polygon, formerly Matic) and Do Kwon, CEO and co-founder of Terra, which is building programmable money for the internet. SOL -1.18% Solana / USD SOLUSD $ 42.82
-$0.51-1.18%
Volume 513.42 m Change -$0.51 Open $42.82 Circulating 272.64 m Market Cap 11.67 b
6 h Burnt Finance Raises $3M For A Solana-based NFT Marketplace; Famous for Burning Banksy Art Piece 9 h Cryptocurrency Related Stocks Tumbling in a Massive Divergence from Crypto Assets 1 d Tala Partners With VISA To Drive USDC Adoption in Emerging Markets
MATIC -2.92% Polygon / USD MATICUSD $ 0.75
-$0.02-2.92%
Volume 570.92 m Change -$0.02 Open $0.75 Circulating 5.19 b Market Cap 3.89 b
6 h Burnt Finance Raises $3M For A Solana-based NFT Marketplace; Famous for Burning Banksy Art Piece 9 h Cryptocurrency Related Stocks Tumbling in a Massive Divergence from Crypto Assets 11 h Sushi Goes Live on Polygon (MATIC), Andre Cronje Proposes A Curve like Mechanism for it

The platform aims to solve the persistent problems of “bid manipulation” and “high minting fees” experienced on the Ethereum-based NFT marketplace, OpenSea, the report further states. Speaking in a statement, the Burnt Finance team stated,

“Some actors tried to leverage the congestion and manipulate the transaction fees to sway the results and the length of the auction.”

Moreover, the new funding will be used for the technical development of the platform and boost collaborations with top NFT artists. In a statement to The Block, Burnt Finance stated launching Burnt Finance, “the first fully decentralized auction protocol on Solana” will “address the needs of the market” with the budding potential locked in crypto-based auctions,

The statement from Burnt Banksy further states the protocol will leverage Solana’s high speed, low fees, and ultimate performance platform, Solana Wormhole. The wormhole aims to offer a bidirectional bridge connecting NFTs and synthetic tokens on Ethereum to Solana. Currently, in the beta phase, the platform received a grant from Solana Foundation earlier in the year to promote the development of Burnt Finance.

According to reports, the mainnet launch is expected in Q3 2021 with the “BURNT” token governing the platform.

Read Original/a>
Author: Lujan Odera

MakerDAO Reports $12.57 Million in Net Income for April

MakerDAO Reports $12.57 Million in Net Income for April

Original decentralized finance (DeFi) protocol, MakerDAO has released the financial report for April 2021.

Yet again, the protocol recorded growing income for the month. Maker DAO broke past the $12 million this time, up 44% from the previous month’s $8.7 million. These insane numbers show that the stablecoin minter has come a long way over the past year, as in April 2020, its net income was less than $51k.

image1

Maker has three business lines — 1: Lending where DAI is lent against strong collateral, i.e., non-dollar backed stablecoins. 2: Trading, which involves exchanges of DAI with other dollar-backed stablecoins. 3: Liquidation, which involves liquidating loan collateral before losing money.

MakerDAO’s latest income resulted from increasing interest income due to loan demand accounting for $10.3 million, up 27% from the previous month, of all the net income. The average yield during the month was 5.15%, about the same as March.

Project’s trading business saw a deep decline, down 61% due to slowing demand on the USDC PSM and lower fees (0.04% vs. 0.10%) on PSM outflow. Liquidations provided it with $2.2 million, which was mainly because of one big ETH-B vault.

When it comes to stablecoin on-chain volume, DAI recorded 63% MoM growth, increasing its market share from 4% last year to 11% now.

MakerDAO is also currently dominating the Ethereum DeFi scene with $11.52 billion in total value locked (TVL), as per DeFi Pulse. In response to all the growth amidst the bull market, the MKR price is hitting new all-time highs; today’s new one was at $5,644.

image2

“Thanks to a good business performance and some MKR burning, we have generated $10 for each token this month. The market decided that the price that was too cheap it seems,” said Sébastien Derivaux, head of real-world finance at MakerDAO.

MakerDAO also made its very first real-world asset-backed loan with real estate project New Silver, currently at $588k and growing.

Read Original/a>
Author: AnTy

Binance Smart Chain (BSC) TVL Reaches $45 Billion, Catching Up Fast to Ethereum

Binance Smart Chain (BSC) TVL Reaches $45 Billion, Catching Up Fast to Ethereum

Decentralized Finance (DeFi) has now reached past the mark of $100 billion in total market cap to climb to $130 billion, as per CoinGecko.

The top five contributors to this are Uniswap (UNI), Chainlink (LINK), PancakeSwap (CAKE), Terra (LUNA), and AAVE.

According to CoinGecko, a similar picture is seen in the total worth of assets locked up in DeFi, at $120 billion.

While Ethereum is a big part of it, the original blockchain where it all started, other blockchains are gaining traction as well.

Just as BSC-based PancakeSwap made it among the top DeFi projects, similarly, the TVL on BSC is fast approaching the levels of Ethereum, one of the metrics that BSC has been lagging in.

TVL on Ethereum had reached past $67 billion as of writing this, increasing 2.5x this year alone when it was just about $15 billion, as per DeFi Pulse. Lending protocol Maker (MKR) is leading this with $10.42 billion in TVL.

Meanwhile, as we reported, DeFi on Binance Smart Chain (BSC) has really taken off, currently at nearly $44 billion, as per Defistation. Much like every other BSC metric, TVL had also risen much faster than Ethereum, as it was just $1 billion at the beginning of February.

AMM protocol PancakeSwap zone accounts for $10 billion of this, followed by lending protocol Venus (XVS) at $9.57 billion.

Both are competing for market dominance, “whereas Ethereum has been the only widely used smart contract blockchain since inception, Binance Smart Chain can now be seen as a serious competitor,” wrote analyst Mati Greenspan in his daily newsletter.

BSC and Ethereum both have their own benefits. The original decentralized Ethereum is the most widely used blockchain whose high fees priced out small users. But ever since the Berlin hard fork, the fees have been keeping down while the developers are focused on permanently scaling the network. BSC, meanwhile, is a more centralized version that is catering to smaller users.

But “luckily, there’s no need to take sides. We can profit from the growth of the market by investing in many different areas and thus drastically reduce our risk as well as maintain neutrality,” wrote Greenspan.

According to many market experts, BSC could help further the DeFi adoption and bring more users to the entire ecosystem.

More than 2 million wallets have already interacted with DeFi protocols, up from just over 170k a year back, as per Dune Analytics.

According to Crypto Fees, these DeFi protocols are earning millions of dollars in fees every single day, but they have yet to see the involvement and usage that the market has been envisioning.

Read Original/a>
Author: AnTy

DeFi Protocol Balancer Rolls Out $2M (or 1000 ETH) Bug Bounty Program Ahead of V2 Launch

Following a tumultuous year for decentralized finance (DeFi) projects, many liquidity providers and automated market makers (AMMs) are looking for solutions to address the growing menace of cyberattacks.

Generalized AMM protocol Balancer Labs, which previously lost $500,000 worth of tokens through a security breach, has opened the floor for ethical hackers to test its newly released V2 single-vault security protocol.

$2 Million For The Best Hacker

Balance Labs is looking to secure its network from malicious attacks with what it has termed the “biggest bug bounty” in DeFi’s history.

According to the non-custodial portfolio manager, it will be giving away 1,000 ETH or $2 million to any white-hat hacker that discovers vulnerabilities within its V2 smart contracts vault.

The DeFi protocol said that this prize is meant to reward ethical hackers who can discover backdoors through which malicious actors may infiltrate its newly launched V2 smart contracts architecture.

This open-source platform is scheduled to be available on the testnet starting on Tuesday.

According to the bug bounty website, these vulnerabilities are classified into critical, high, medium, and low, with critical vulnerabilities receiving the top prize of 1,000 ETH. Solutions for low-level defects will only attract 5 ETH or $10,000.

It also went further to state that critical vulnerabilities lead to the draining of investor funds from the vault or permanent locking of these funds in the vault.

High exposures would prompt severe rounding errors where a bad actor can steal funds over any gas costs or swap fees, while medium defects would be minor rounding errors that allow an attacker to gradually doctor balances to their advantage.

Low-level vulnerabilities are those that are mainly information and code quality-based disclosures. The liquidity provider also stated that vulnerabilities previously discovered during formal audits would not be eligible for the rewards.

Speaking on the latest development, company CEO Fernando Martinelli noted that the bug bounty program is meant to build a developer community that will help to create a better Balancer platform for all investors.

DeFi Security Breaches Growing Unchecked

In a report published by blockchain analytics firm CipherTrace in November 2020, in the first half of 2020, DeFi projects were major targets of criminals with a 45% success rate.

This saw over $51.5 million lost to cyber criminals during the period. In the closing months of 2020, DeFi hacks rose to 50%, with the affected crypto projects losing over $47.7 million in the process.

It also said that DeFi hacks made up 21% of all crypto-related crimes. This, according to the document, is because cryptocurrencies have continued to boom as more investors are coming into the crypto space.

And this has not ceased even with the growing prosecution of crypto criminals. In a statement posted last month, decentralized exchange platform DODO DEX said that it lost $3.8 million to a cyberattack. Even though the company has said it expects $1.88 million to be recovered, crypto thefts have continued to boom unhindered.

Read Original/a>
Author: Jimmy Aki

India’s Minister of Finance Says Cryptocurrency Bill is Designed To Protect Investors

India’s Minister of Finance Says Cryptocurrency Bill is Designed To Protect Investors

India’s crypto tale might not end anytime soon. In the latest episode, the country’s Minister of State Finance and Corporate Affairs has commented on the government’s crypto position.

Crypto Bill To Protect Investors

India’s Minister of State Finance and Corporate Affairs Anurag Thakur spoke on the reasonable steps the government may take to regulate crypto in the Asian nation.

According to Thakur, the government only intends to protect crypto investors from the underlying volatility surrounding cryptocurrencies like Bitcoin. BTC 0.00% Bitcoin / USD BTCUSD $ 63,358.91
$0.000.00%
Volume 77.47 b Change $0.00 Open $63,358.91 Circulating 18.68 m Market Cap 1.18 t
3 h India’s Minister of Finance Says Cryptocurrency Bill is Designed To Protect Investors 4 h CBDC’s Unlikely To Threaten Cryptocurrencies, Market Has Evolved: Morgan Stanley Report 6 h Coinbase Is Now Live On Nasdaq, Valuation Soars Past $100 Billion with Shares Trading Above $400

Thakur said the price fluctuations of cryptocurrencies relative to fiat were high and disturbing, which could negatively impact investors.

Accordingly, the government would frame regulations focused on protecting these investors from this volatility. However, he did not state how the government intends to achieve this.

The Indian crypto narrative has been fraught with a lot of counter-intuitive hints from government officials.

With some supporting an outright ban and the creation of a digital rupee to address growing market needs. Others have called for a more temperate regulatory framework to encourage the nascent industry. And as with all things political and diplomatic, much of the masses have been left in the dark.

According to the Finance Minister, the crypto bill was scheduled to be heard by the lower chamber of the Indian parliament on April 8 but was postponed due to the ongoing elections in the country.

This continued suspense is seeing a lot of crypto-facing businesses and enthusiasts getting tensed and agitated.

But some industry experts in the crypto space are pointing to Thakur’s comments as a light in the night. To them, the government may be considering something in the angle of a “circuit breaker,” which will see limits introduced on the number of transactions that could be done in Bitcoin exchanges. They believe this is a sign that the government may be considering a regulation rather than an outright ban of emerging technology.

But others feel this is not the case.

Dark Days Ahead for India’s Crypto Space

Founder of crypto fantasy trading app SuperStox Zakhil Suresh pointed to the ambiguity surrounding the minister’s message. According to Suresh, the minister is interested only in protecting crypto investors from cryptocurrencies and not protecting crypto investors.

“What if that ‘protection’ is actually in the form of … keeping people away from crypto?” Suresh told news outlet Decrypt.

He also said that the minister declined to comment on whether or not the government was considering a ban on cryptocurrencies in its draft bill. To him, this is frustrating and unnecessary.

The growing consternation concerning the crypto bill is understandable given that the Reserve Bank of India (RBI) has been a staunch supporter of a crypto ban.

In a 2018 blanket ban on crypto, the Indian government stopped all crypto activities in the country.

Although it was later overruled in a Supreme Court judgment in 2020, the fight has continued with a 2019 anti-crypto bill recommending harsh measures like jailing crypto investors for up to ten years.

For now, the saga continues.

Read Original/a>
Author: Jimmy Aki

Solana’s Data Aggregator Step Finance Raises $2 Million in Private Sale

Solana’s ecosystem continues to grow in leaps. One of its projects, Step Finance, saw $2 million infused into the network via a funding round led by Alameda Research.

Step Finance Raises $2 Million In Private Sale

In a press release on Tuesday, Solana-based decentralized finance (DeFi) protocol Step Finance announced that it had raised $2 million in a private sale to scale up its platform.

The project, which was birthed from the Solana hackathon held earlier this year, saw participation from prominent investors.

Among the star-studded roster includes names like Alameda Research, the hedge fund led by pro-crypto investor Sam Bankman-Fried.

Decentralized exchange Raydium (RAY), One Block, 3 Commas Capital, Solidity Ventures, and several new names also placed bets on the project.

Step Finance is touted to be the “front page” of the Solana ecosystem as it enables users to monitor transactions across the Solana network on one interface.

Step Finance is a known competitor to Ethereum’s Zapper as it creates a user-friendly platform for users to monitor all their DeFi transactions.

In speaking on the necessity of the Step Platform to the overall Solana ecosystem and the DeFi world, co-founder of Step George Harrap spoke on the limitations for projects built on Solana.

Harrap argued that most projects on the platform are siloed and separated from one another.

According to Harrap, users cannot verify their token and LP balances, current position sizes, and other tidbits unless they visit each website individually and sign in to understand their portfolio’s performance.

To him, Step Finance is the answer to these disparate efforts.

Step Finance continues to ride on the waves of savvy investors desire to get into a promising project before it grows.

In a blog post, the crypto startup mentioned that it would launch its native utility token $STEP on April 24. According to the development team, the digital token will play a pivotal role in automated strategies, optimal token swaps, yield farming, staking pools, bridges, and data visualization on the Step Platform.

Ethereum Killer Solana

The Solana ecosystem is reputed to be an Ethereum killer by enthusiasts. According to the DeFi project, its high throughput of 50,000 transactions per second (TPS) makes it a suitable replacement for developers looking at an alternative DeFi platform to save and do more efficiently.

The Ethereum network has been working on a transition to a more sustainable consensus protocol.

Its much-anticipated Eth 2.0 is expected to transition to the proof-of-stake (PoS), which will see it address the challenges of network congestion and high gas fees.

But in the interim, many DeFi facilitators like the Solana ecosystem aim to capitalize on these flaws.

The Solana ecosystem has been rapidly onboarding many projects. The world’s largest stablecoin, Tether’s USDt, announced that it had found a home on the Solana network just like USDC. The Graph (GRT), an Ethereum protocol, also said it was adding support for the Solana network.

In a fundraising round, the Solana Foundation raised $40 million from crypto exchanges like OKEx and others to better develop the Solana network software. It also received support from the digital trading platform AscendEX on the Solana Program Library.

At press time, Solana’s native token SOL trades at $25.37 after falling 7% on the 24hr chart.

Read Original/a>
Author: Jimmy Aki

Thailand’s KBank to Explore Decentralized Finance (DeFi) to Expand Its Digital Reach

Thailand’s KBank to Explore Decentralized Finance (DeFi) to Expand Its Digital Reach

Kasikornbank, one of the biggest financial institutions in Thailand, has identified decentralized finance (DeFi) as key to its growth and expansion strategies.

Kasikornbank, commonly known as KBank, has kickstarted exploring asset-backed DeFi utilizing blockchain as it seeks to expand and grow regionally.

As reported by Bangkok Post, the decentralized finance experiment is led by Kasikorn Business Technology Group, or KBTG, an offshoot of KBank tasked with technology matters.

Ruangroj Poonpol, KBTG chair, explained that DeFi exploration is crucial to KBank’s short and long-term success. He said:

“DeFi is a key exploration for KBank Group this year […] The project is being explored through KBTG under the second phase of the company’s digital transformation programme.”

Poonpol also explained that DeFi is crucial and could help the country tackle the financial exclusion problems that have persisted for years. He explained that DeFi would allow Thais to access improved financial services. He also explained that asset-backed DeFi would play a crucial role in creating economic value for the country.

Asset-backed DeFi faces various regulatory difficulties as it interacts with the ideal world assets. In the past, some industry players, like MakerDAO’s Christensen, are already in the process of engaging DeFi stakeholders as well as regulators in efforts to see decentralized finance make an impact in the mainstream financial world.

The DeFi exploration by KBank is poised to allow the bank to enhance its expansion strategy in Southeast Asia, especially in countries where there are many unbanked people like Vietnam, where only a third of its population is banked.

KBank’s DeFi exploration comes in the backdrop of the bank’s remarkable performance in Thai’s digital banking sector. The bank controls about 40 percent of all digital transactions in Thailand. The bank also boasts of the country’s biggest mobile banking platform, with more than 16 million people using its mobile banking app.

Recently, the bank, through its offshoot KBTG, unveiled Kubix in collaboration with the Thai stock exchange. The platform will help in the operationalization of initial coin offerings (IPO) for blockchain-based platforms. In 2018, KBank became a member of Visa’s B2B solution, a blockchain-based international payment platform.

Read Original/a>
Author: Joseph Kibe

Decentralized Exchange, Uniswap, Accounts for 80% of The Daily Active DeFi Users

Decentralized Finance (DeFi) recorded a marked year-over-year increase in adoption and usage across the board despite suboptimal user experiences such as UX and gas fees.

“Remember the Internet was slow, clunky & expensive once. L2s launching this year will make DeFi more accessible – faster, better, cheaper,” noted Santiago R Santos, partner at Parafi Capita.

Total value locked (TVL) in DeFi had a 75x growth to $43.5 billion. In terms of stablecoins, their supply grew ~7x to $43 billion YoY, while total borrowing volume across money markets has increased 100x to $9.9 billion.

As for the most popular DeFi protocol, decentralized exchanges (DEX) have seen a growth in their active users.

Over the past year, these active users have grown from a mere 3,000 to the current 67,000. Interestingly, Uniswap accounts for 80% of these daily users.

The popular DEX, which accounts for 60.4% of the total DEX weekly volume market share, recently announced that its much-anticipated V3 is coming in early May, with a special emphasis on increasing capital efficiency.

ThorChain (RUNE), a decentralized liquidity protocol, meanwhile, argues that with V3, Uniswap is making “LP’ing active” — “Active LPs are going to destroy the passive LPs. It’s going to return the edge to desks and bots.”

Another interesting facet of this upgrade is the use of Business Source License (BSL) 1.1, which restricts the use of V3 source code for two years. Another popular DEX SushiSwap, which is moving into lending, started as a fork of Uniswap.

While Uniswap (UNI) can really use the license against v3 forks, it comes “mostly, at a cost,” said Jake Chervinksy, General Counsel at Compound Finance.

“It’s crucial for DeFi protocols to be free & open-source software,” said Chervinsky noting that that is why most DeFi protocols are launched with fully open-source licenses like MIT, BSD, & GPL.

He explained how while people might think enforcing copyright rules against anonymous developers won’t be possible, making the licenses useless, that is not true.

Not only most dev teams aren’t fully anonymous, especially as a project succeeds, but developers aren’t the only viable target, Chervinsky said.

“US law also allows copyright holders to sue third parties for “contributory” copyright infringement even if they didn’t commit any infringing acts directly. Other theories of secondary liability may apply to third parties too,” including those who adopt, support, or use it such as exchanges, DEX aggregators, investors, LPs, and MMs.

Also, enforcement is not the only way; the threat alone is enough at times.

image1

This may come at a cost, though, as “it’s crucial for DeFi protocols to be free & open-source,” and many people in the sector also feel strongly about it, he said.

Still, “BSL 1.1’s two-year delayed conversion to GPL seems to strike a fair balance between creating a copyright moat & open-sourcing the protocol. Personally, I like it a lot, especially since UNI holders can accelerate the conversion at any time. Governance decides,” Chervinsky said, adding, “it’s an elegant bit of legal innovation for DeFi.”

Read Original/a>
Author: AnTy