There is never a dull moment in crypto. On any given day, there is a scam or a hack. On others, there is a controversy. The latest kerfuffle in cryptoland involves an NFT sale (what else?) and highlights two persistent problems: high transaction fees and regulatory uncertainty. The Otherdeed Mint: A Troubled Sale It started when Yuga Labs – the company behind the Bored Ape … Continue reading The Otherdeed Sale Highlights Crypto’s Persistent Problems
Total Value Locked (TVL) is one of the more interesting metrics to emerge from the Decentralized Finance (DeFi) ecosystem. TVL is the total amount of cryptocurrencies or DeFi tokens locked in smart contracts in various DeFi projects at that point in time. For example, the TVL of a DeFi-lending project will be a total of the market prices of tokens used as collateral by the … Continue reading What Value in Total Locked Value?
Is decentralized finance (DeFi) a revolutionary reinvention of modern finance that should remain outside the bounds of regulation? Or is it jargon – algorithmic authority window-dressed as liberty and accompanied by the same problems as traditional finance – that should be hemmed in by rules? A new paper by Hilary J. Allen, Professor at the American University Washington College of Law, argues for the latter … Continue reading Does DeFi Need Regulation?
One of the conceits of Decentralized Finance (DeFi) is that it is different from traditional finance. The concept of a finance ecosystem governed by smart contracts, devoid of rent-seeking centralized institutions, is an enticing one. But two comprising situations on a decentralized finance protocol last week threw the nascent nature of the so-called DeFi ecosystem into sharp relief. It also showed that, shorn of technical … Continue reading bZx Attack Shows DeFi Has The Same Vulnerabilities as Traditional Finance