The decentralized financial ecosystem (Defi) was defeated last month after several protocol exploits. ETH deposits are now rising again as confidence returns.
Deposit ETH back
In the context of using flash loan to lead to attackers getting a clean profit, Defi was defeated.
DeFi, like all other cryptocurrency platforms and networks, is still new and in development. The incidents have been fixed, decentralized autonomous organizations have strengthened their security and governance, and investment has returned to space.
Some platforms, such as bZx, which has been attacked by two flash loan exploits, have recovered as confidence returns to the industry. Follow Camila Russo, ETH deposits in bZx are surging with a + 20% yield that attracts users back.
The amount of ETH in the platform is still about 22% lower than before the incident. However, the increased liquidity reduced the rate by about half from 41% to 27.5% the day before and from as high as 99% on the first day of exploitation.
Defipulse also reported that the total locked ETH is reaching nearly 3 million ETH again, although it is down about 10% from last month's peak. The total locked value in USD largely depends on the price of Ethereum at the time, which at the moment was about $ 972 million.
Russo went on to report that the DeFi dYdX exchange will charge trading fees starting March 10. Trading fees will range between 0.05% and 0.5% of the trading volume, depending on the pair. transactions and order sizes while manufacturers will pay no fees.
Official banking portal, Instadapp, medium launched A platform to simplify all things on DeFi, Smart Accounts. According to the company's spokesperson, the new platform will act as a single UK integration point to access all DeFi protocols.
Most users at the moment rely on their wallets to interact with the DeFi platform, but Smart Accounts aims to give users the ability to simplify what is complex and to unify differences in the field. DeFi.
According to Bitcoinist
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