European regulators assess DeFi risks, Uniswap launches Android wallet: Finance Redefined
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.
In this week’s newsletter, European securities regulators have published a report on the DeFi ecosystem that lists the risks it poses to the European Union’s financial system — but also highlights the benefits of DeFi.
Uniswap has launched Android wallet beta on Google Play, with the app gaining popularity among desktop and Apple iOS users. DeFi platform Star Arena recovered 90% of stolen Avalance (AVAX) tokens after offering a $250,000 bounty, and Platypus Finance fell victim to another flash loan attack.
The top 100 DeFi tokens had a mixed week in terms of price action, with most of the tokens trading in the same range or slightly higher than the last week. The total value locked in DeFi protocols hit $45.67 billion.
The European Securities and Markets Authority (ESMA) — the EU’s financial markets supervisory authority — released an article on DeFi and its risks to the EU market on Oct. 11.
In a 22-page report, the ESMA admits the promised benefits of DeFi, such as greater financial inclusion, the development of innovative financial products, and the enhancement of financial transactions’ speed, security and costs.
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Decentralized crypto exchange Uniswap launched a closed beta Android version of its mobile app on Oct. 12, according to a blog post from the app’s development team. Uniswap has previously only been available on PC and iOS mobile devices.
The new Android beta app allows users to select coins on different chains without switching networks. It automatically detects which network a coin is on and switches to that
Read more on cointelegraph.com
