Industry execs confident in DeFi adoption despite security flaws: Finance Redefined
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.
Industry experts are confident in DeFi and believe the sector would continue to see adoption despite its security flaws, primarily due to the mammoth failure of centralized exchanges. Despite the continued growth, however, the decentralized exchanges have lost $30 million on liquidity provider incentives.
Popular hardware crypto wallet Ledger introduced a new DeFi tracking feature that pairs with its hardware wallets to monitor performance analytics of over 1,000 protocols.
The Lodestar Finance protocol that was exploited for over $5 million on Dec. 10 had a Mango Markets connection, wherein the exploiter copied the methods used by the Mango Markets’ hacker to drain funds.
The DeFi market had a mixed week in terms of price action, where the majority of the tokens remained in the same price range as last week but lost bullish momentum.
With DeFi being a hub for various hacks and exploits, some may feel discouraged or wary of entering the space. However, professionals within the crypto space are confident that DeFi will have broader adoption in the future.
From educating institutional investors to eliminating user experience barriers for retail investors, Web3 executives shared their thoughts on how broader DeFi adoption can be achieved.
Continue reading
Users and developers are seeking out ways to stay both safe and informed after a year of volatility and uncertainty. During this shift, the hardware wallet developer Ledger announced a new integration for users to track the value of their assets.
Ledger and Merlin, a DeFi portfolio tracker, announced
Read more on cointelegraph.com
