Last week’s Decentralized Finance (DeFi) ecosystem saw many new developments from a recruitment perspective and protocol development. The European Commission has added a new chapter on DeFi to show that the impact of the early ecosystem is increasing. Meanwhile, Virginia counties in the United States want to include pension funds in their DeFi yields.
Recent research has shown that the DeFi protocol lost $ 1.6 billion in various exploits in the first two quarters of 2022, so DeFi exploits are once again in the spotlight. RariFuze hackers who fled with $ 80 million worth of money were offered a $ 10 million bounty.
DeFi tokens have also made a bullish comeback towards the end of last week. However, overall weekly performance remained in the red.
European Commission report suggests rethinking regulatory approach to DeFi
European Commission analysts have shown an unexpected understanding of how DeFi works, defining it as different from the traditional financial system and acknowledging the need to rethink its approach to regulation. rice field.
On Monday, Presence Capital’s Cryptographic Venture Advisor and European regulatory long-term expert Patrick Hansen shared some important details from the European Commission’s European Financial Stability and Integration Review 2022. The April 7 report contains a 12-page chapter on DeFi, and the author shows a wise approach to this topic.
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Virginia County wants to invest its pension fund in DeFi yield agriculture
Fairfax County, Northern Virginia, has already invested part of its pension fund in cryptocurrency and blockchain startups. Currently, it is pondering its deeper involvement in DeFi yield agriculture.
Catherine Morner, Chief Investment Officer of the Fairfax County Police Pension System, said at the Milken Institute’s Global Conference on Tuesday that the system will fund two new crypto-focused hedge fund managers over the next three weeks. Said that it aims to provide. A decision will be made in the next few days. If approved, this is the first time that pension fund funds have been used on DeFi.
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Rari Fuze hacker returned $ 80 million in loot with a $ 10 million bounty from Fei Protocol
The DeFi platform Fei Protocol provided hackers with a $ 10 million bounty in an attempt to negotiate and recover most of the money stolen from various Rari Fuse pools worth $ 79,348,385.61. ..
On Saturday, the Fei Protocol notified investors about exploits in numerous Rari Capital Fuse pools and demanded that hackers return the stolen money for a $ 10 million bounty and a “no question” commitment. Did.
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So far in 2022 more than $ 1.6 billion has been spent from DeFi
DeFi space has been full of hacks, exploits and scams so far this year, with over $ 1.6 billion of cryptos stolen from users, surpassing the total for 2020 and 2021.
According to an analysis by blockchain security firm CertiK, Monday’s statistics show that the amount stolen in March was $ 719.2 million, more than $ 200 million more than the amount stolen in 2020 as a whole. March figures are primarily due to Ronin Bridge exploits. Attackers launched attacks using over $ 600 million in cryptocurrencies.
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Solana and Moonbirds help the NFT market reach $ 6.3 billion in monthly trading volume: Report
According to DappRadar’s monthly report, the NFT market surged 23% from March, surpassing $ 6 billion for the third time in the past and hitting a high of $ 6.3 billion.
Moonbirds contributed $ 500 million worth of trading volume, and Solana blockchain recorded about $ 300 million in NFT trading, up 91% month-on-month.
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DeFi Market Overview
Analytical data shows that total locked DeFi remained at $ 123 billion, similar to last week, despite a bullish surge over the weekend. According to data from Cointelegraph Markets Pro and TradingView, DeFi’s top 100 tokens by market capitalization recorded a week full of volatile pricing behavior and constant bearish pressure.
Most of the top 100 ranking DeFi tokens turned green on the daily chart, but weekly performance remained bearish, with the exception of the Curve DAO token (CRV), which surged 4% last week.
Thank you for reading this week’s summary of the most influential DeFi developments. Join us again next Friday to further deepen your story, insights and education in this dynamically evolving space.
