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…The developer paid 19.9 ETH (US$8,000) to install the smart contracts on Ethereum. When the contracts went live, some users began staking yCRV tokens, which is Curve Finance’s moniker for tokens representing shares in Curve’s liquidity pools. These users then proceeded to acquire CRV tokens. This scenario caused consternation and allegations of 'pre-mine' amongst the DeFi community. Before the Curve Finance team could validate its deployed smart contract, more than 80,000 CRV coins were pre…
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…It fulfils many functions inside the SushiSwap ecosystem, including governance rights. Liquidity pools are one of SushiSwap's key mechanisms. They are smart contracts in which SushiSwap users may lock their crypto in exchange for rewards. When users supply liquidity to SushiSwap pools, they are rewarded with SLP tokens. As liquidity providers, they receive trading fees, which may increase by farming the SLP tokens. Users are responsible for their individual cryptocurrency wallets, since the exch…
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…It stands for ‘Hold on for dear life’, meaning to hold onto investments for a long period of time, through both bull and bear markets.Full definitionHODLerA ‘HODLer’ is someone who holds onto their digital assets long term, regardless of market volatility or price fluctuations.Full definitionHoneypotHoneypot scams are deceptive schemes that lure unsuspecting victims with the promise of lucrative rewards.Full definitionHooksIn the context of blockchain, ‘hooks’ typically refer to piec…
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…This DEX offers the most popular DeFi functions, including swaps, staking, and liquidity pools, in an easy-to-navigate user interface. VVS Finance quickly gained popularity amongst crypto holders because of its signature traits: Reasonable trading volume between 5% and 20% of its market capA substantial initial market cap that jumped to US$170 million within the first months of launch Unfamiliar with DeFi jargon? Take a look at our article on 5 DeFi Terms You Should Know. 2. Tectonic (Lend…
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…Rather than establishing direct contact between lenders and borrowers, Aave includes both parties via liquidity pools, diversifying possibilities, and automating the process. Aave offers borrowers not just traditional over-collateralised loans but also flash loans. Aave raised US$16.2 million in an initial coin offering (ICO) to fund the development of a decentralised peer-to-peer lending network. When they shifted to a liquidity pool approach, they renamed it Aave. In 2020, Aave introduced the…
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…BNT is +0.00% in the last 24 hours.BNT has a circulating supply of 115.19 M BNT and a max supply of 114.54 M BNT.What is Bancor? Bancor is a blockchain-based decentralised exchange (DEX) that runs on the Ethereum and EOS blockchains, focusing on providing liquidity to small- and micro-cap coins and returns for liquidity providers. To support token trades against token liquidity pools without matching buyers and sellers, the Bancor protocol leverages an automated market maker (AMM) smart contrac…
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…Learn about how to use them, their associated transaction fees, and the blockchains they operate onWith DeFi, users can earn interest by providing assets to a liquidity pool, yield farming, and staking cryptoAn introduction to beginner-friendly DeFi projects that offer services including lending and borrowing, yield farming, or buying and selling NFTs Step-by-Step Guide to Entering DeFi Step 1: Setting Up Your Onchain Wallet The Crypto.com Onchain App is a great way to start your journey into De…
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…Learn about how to use them, their associated transaction fees, and the blockchains they operate onWith DeFi, users can earn interest by providing assets to a liquidity pool, yield farming, and staking cryptoAn introduction to beginner-friendly DeFi projects that offer services including lending and borrowing, yield farming, or buying and selling NFTs Step-by-Step Guide to Entering DeFi Step 1: Setting Up Your Onchain Wallet The Crypto.com Onchain App is a great way to start your journey into De…
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…The formula is ‘x*y = k.’ X represents the amount of one token in the liquidity pool, y is the amount of the other asset, and k is a fixed constant. In Uniswap, the value of both assets constantly remains at a ratio of 50:50.To participate, users just need an Ethereum wallet to immediately start swapping tokens directly without the need for an order book. This works using an automated market maker (AMM) where liquidity providers (LP) deposit tokens into the smart contract and this liquidity …
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…The term refers to the saying of one having a rug pulled out from under them.With rug pulls, which are prevalent in decentralised finance (DeFi), where many developers are anonymous, a developer or creator of a project launches their token on a decentralised exchange (DEX) and forms a liquidity pool. Once users purchase the token, growing the liquidity pool and market cap, the developers drain liquidity from the project, taking all the money. Once that occurs, they close all community channels …
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