DeFi (Tài chính phi tập trung) là một hình thức tài chính dựa trên blockchain, không phụ thuộc vào các bên trung gian tài chính trung ương như người môi giới, sàn giao dịch hoặc ngân hàng để cung cấp các công cụ tài chính truyền thống, mà thay vào đó sử dụng các hợp đồng thông minh trên blockchain, loại phổ biến nhất là Ethereum.
Nền tảng DeFi cho phép mọi người cho vay hoặc đi vay từ những người khác, đầu cơ dựa theo sự biến động giá trên một loạt các tài sản sử dụng phái sinh, thương mại tiền mã hóa, bảo đảm chống lại rủi ro, và kiếm được lãi trong những tài khoản giống như sổ tiết kiệm. DeFi sử dụng kiến trúc phân lớp và các blocks xây dựng có khả năng kết hợp cao.
Decentralized stablecoin USDB, backed by DAI, has temporarily lost its peg to the U.S. dollar, dropping 6% in value.
USDB, a decentralized stablecoin, has come under heavy pressure as its price in a moment dropped by as much as 6% amid market panic triggered by chaos in Japan.
Developed by Blast, USDB offers a 5% yield sourced from MakerDAO’s on-chain T-Bill protocol. Typically, users can redeem USDB for (DAI) when bridging from Blast to Ethereum. However, market instability caused USDB’s price to plummet to $0.94, though it later bounced back to the $1 mark, according to data from crypto.news. As of press time, Blast has not issued a statement regarding the matter.
In late June, cybersecurity analysts at web3 firm Resonance Security raised concerns over Blast’s dependence on external protocols for generating yield, which brings inherent risks, noting that MakerDAO “has not published a security audit of their smart contracts in three years.”
Japan’s stock market faces worst day since 1987
The USDB depegging occurred as both crypto and traditional markets faced chaos, with Japan’s stock market experiencing its worst day since 1987. On Monday, Aug. 5, the Tokyo Stock Exchange’s Nikkei index plummeted by 12%, marking a 20% decline from its all-time high in July and prompting a brief trading halt.
Following Japan’s downturn, South Korea’s benchmark KOSPI also fell by 8%, recording its worst session since March 2020. Amid the panic, South Korean authorities tried to calm investor fears, with the finance minister pledging to address heightened market volatility with a contingency plan.
The entire crypto market also faced a downturn amid the sell-off. Bitcoin (BTC) briefly fell below the $50,000 mark, while Ethereum (ETH) dropped to $2,264. According to data from Coinglass, the total volume of crypto liquidations in the past 24 hours has exceeded $1 billion.
Hoạt động DeFi tăng lên theo một số chỉ số, gợi lại những mức độ chưa từng thấy kể từ năm 2022. Lần này, quá trình phục hồi diễn ra dần dần và các giao thức thận trọng hơn, nhưng vẫn có nhiều dấu hiệu mở rộng đầy hứa hẹn.
DeFi duy trì khối lượng thấp qua nhiều năm nay, trong khi hầu hết các giao thức đang điều chỉnh sản phẩm của họ. Trong quý 2, DeFi tiếp tục cải thiện các chỉ số của mình, cố gắng chiếm lấy phần thanh khoản khan hiếm hơn.
Động lực tăng trưởng chính của DeFi là hệ sinh thái Solana, giao dịch DEX cũng như hoạt động cho vay. DeFi ảnh hưởng đến cả cá voi quy mô lớn và nhà đầu tư bán lẻ, tùy thuộc vào loại giao thức. Giao dịch memecoin thúc đẩy dòng vốn bán lẻ, trong khi lợi suất và cho vay mang lại thu nhập thụ động cho cá voi.
Cả thu nhập thụ động và số liệu giao dịch chủ động đều cho thấy DeFi sẽ tiếp tục tồn tại vào năm 2024 và đang trở thành một nguồn hoạt động tiền điện tử chính.
Vào năm 2024, DeFi đã cho thấy khả năng thích ứng, hoạt động với tổng giá trị bị khóa thấp hơn. Trong thời điểm định giá cao nhất vào năm 2021, ngay cả DeFi trên Ethereum cũng dễ dàng giữ được trên 120 tỷ đô la. Hiện tại, chain Ethereum có giá trị bị khóa khoảng 60 tỷ đô la và tổng ứng dụng DeFi hàng đầu hiện có giá trị khoảng 96 tỷ đô la.
Tăng trưởng DeFi tập trung vào Ethereum và Solana
Trong chu kỳ thị trường này, hệ sinh thái DeFi hướng tới tăng trưởng bền vững hơn, tránh lan man và thanh lý. Dòng memecoin vào ví bán lẻ đã nâng người dùng DeFi lên mức kỷ lục hàng tháng. Vào tháng 7/2024, các giao thức DeFi đã có hơn 8,8 triệu người dùng hàng ngày dựa trên dữ liệu ví.
Một trong những thay đổi lớn đối với DeFi là tỷ trọng của hệ sinh thái BNB Chain ngày càng giảm. Sự trỗi dậy của Solana và Base bù đắp cho phần suy thoái tài chính của BNB.
Hack quay trở lại DeFi khi giá trị tăng lên
Exploit (tấn công khai thác) là một trong những dấu hiệu điển hình khi hoạt động DeFi gia tăng. Giá trị bị khóa trong các giao thức ngày càng tăng một lần nữa thu hút hacker.
Cuộc tấn công gần đây nhất xảy ra nhằm vào Astroport, một DEX trên mạng Terra mới được xây dựng lại. Khoản thiệt hại được báo cáo lên tới 6,4 triệu đô la. Vụ exploit lớn khác trong năm đã ảnh hưởng đến UwU Lend, mất 20 triệu đô la do exploit thao túng giá.
Một loạt cuộc tấn công khác đến từ việc chiếm đoạt tên miền, cho thấy ngay cả các dự án Web3 cũng có thể mắc phải những điểm yếu như Web2. Các kênh truyền thông xã hội và Discord cũng đã bị xâm phạm nhằm mục đích phát tán các liên kết độc hại và những kẻ bòn rút tiền.
Staking thanh khoản giúp tăng cường DeFi
DeFi cũng phụ thuộc vào staking thanh khoản, vì nó chiếm phần lớn dòng vốn mới. Các giao thức staking thanh khoản hiện có giá trị bị khóa hơn 50 tỷ đô la, hầu hết giá trị dựa trên ETH đã được stake. Staking thanh khoản cũng đang lan rộng sang chain Solana.
Trong tháng vừa qua, nhu cầu staking thanh khoản đã chuyển khỏi Ethereum, khiến Lido và Rocket Pool mất giá trị. Thay vào đó, hoạt động staking thanh khoản dựa trên Solana bùng nổ, nâng cao giá trị của JitoSOL.
Sau staking thanh khoản, cho vay là lĩnh vực lớn thứ hai trong DeFi. Hơn 34 tỷ đô la bị khóa trong các giao thức cho vay, mặc dù Aave và JustLend chiếm hơn 50% giá trị bị khóa.
Cho vay để thu lợi nhuận thụ động có một số rủi ro nhưng vẫn ít rủi ro hơn so với giao dịch altcoin. Việc thiếu một thị trường altcoin thực sự cũng khiến các nhà đầu tư phải lựa chọn phương án an toàn hơn. Cho vay DeFi cũng được hưởng lợi từ nguồn cung stablecoin ngày càng tăng.
Nguồn cung stablecoin đã tăng lên trên 165 tỷ đô la, với sự tăng trưởng của các tài sản thích hợp được tạo riêng cho DeFi. Trong khi USDT vẫn được sử dụng, các tài sản như GHO của Aave và USDe của Ethena cũng tăng thêm thanh khoản.
Giao dịch DEX là thành phần lớn thứ ba của DeFi, đóng góp 19,55 tỷ đô la giá trị bị khóa. Phần này của DeFi cũng chứng kiến dòng tiền chảy vào Uniswap và Raydium, nhưng có thêm đối thủ Aerodrome trên Base. Người dùng DEX nhận thức rõ hơn về các cuộc tấn công sandwich và phải nhờ đến các nhà xây dựng block để bảo vệ lệnh của họ. Uniswap có tỷ lệ giao dịch được bảo vệ lớn nhất được cung cấp bởi các nhà xây dựng block như BeaverBuild, Rsync và Flashbots.
Sự phát triền của giao dịch DEX cũng tăng lên cùng với sự ra đời của các công cụ đáng tin cậy hơn để quản lý dòng lệnh. Giao dịch DEX trên Solana mở rộng nhanh chóng, tăng phí cho giao thức. Trong tháng vừa qua, có ít người dùng hơn chuyển đến thị trường DEX Solana và thực hiện số lượng giao dịch cao hơn.
Hoạt động yield farming vẫn đang được áp dụng, mang theo giá trị bị khóa 6,83 tỷ đô la, với phần lớn số tiền bị khóa trong Pendle và Convex Finance.
Decentralized crypto lender Morpho has announced a $50 million strategic round backed by a16z and Coinbase Ventures among other top crypto venture capital firms.
On August 1, 2024, Morpho disclosed that Ribbit Capital, an early-stage VC investor whose portfolio includes Robinhood, Revolut, Coinbase, NuBank, and Mercado Libre, led the funding round.
Funding key to Morpho growth, CEO says
Morpho will use the strategic funding to bolster its network’s decentralization. The funds will also go into supporting global growth for financial infrastructure as a public good, Morpho CEO Paul Frambot wrote in a blog post. According to Frambot, support from these top venture capital firms is key to the protocol’s continued growth within the decentralized finance space.
Two years since its launch, Morpho has grown from its primary product. Having started as an optimization layer for interest rates on Aave and Compound dubbed Morpho Optimizer, the platform has evolved to Morpho Blue, a layered architecture that allows for the building of lending protocols that feature built-in risk management features. Funding provides an opportunity for Morpho to thrive by extending grants to active contributors helping to build its DeFi infrastructure.
“The potential impact of Morpho extends far beyond current DeFi markets, as the protocol is capable of becoming decentralized infrastructure to underpin a truly global, internet-native financial system,” Frambot noted.
a16z, Coinbase Ventures back Morpho
Other than Ribbit Capital, Morpho Labs’ latest funding round attracted the participation of some of crypto market’s biggest VC firms.
They include Andreessen Horowitz, Coinbase Ventures, Pantera Capital, Variant, Brevan Howard and BlockTower.
The strategic funding round follows the $18 million financing round Morpho Labs secured in July, 2022. a16z and Variant led that round.
Decentralized finance protocol Aave is seeing a significant spike in whale activity as the market looks to bounce from the recent dump that pushed most altcoins to key support areas earlier this week.
On July 31, Lookonchain shared details indicating whales had aggressively accumulated Aave (AAVE) over the past two days. According to the data, whales withdrew over 58,848 AAVE worth $6.47 million from exchanges during this period.
In one instance, the whale address 0x9af4 withdrew 11,185 AAVE worth $1.23 million from Binance. Meanwhile, another address moved 21,619 AAVE worth over $2.38 million from the exchange and deposited the tokens into Aave.
These withdrawals followed an earlier transfer of 26,044 AAVE by the whale address 0xd7c5, which amounted to over $2.83 million withdrawn from Binance.
AAVE’s price surged by more than 7% in the past 24 hours amid buy-side pressure from these whales. Currently, the DeFi token trades around $111, having jumped more than 18% in the past week.
Recently, AAVE price increased by more than 8% after Aave founder Marc Zeller announced a fee switch proposal aimed at adopting a buyback program for AAVE tokens.
Aave v3.1 goes live
The total value locked in the Aave protocol currently stands at around $22 billion. According to DeFiLlama, about $19.9 billion is on Aave V3, while the V2 chain still holds about $1.9 billion in TVL and V1 about $14.6 million.
Aave Labs announced earlier in the day that Aave V3.1 had gone live across all networks with active Aave V3 instances.
The V3.1 version features enhancements set to improve the DeFi protocol’s overall security. Aave DAO governance approved the v3.1 improvements, which also include operational efficiency and usability for the network.
Meanwhile, Aave Labs recently outlined an ambitious roadmap for the project, with a 2030 vision for Aave V4 among other developments.
ZKX protocol, the first perpetual futures exchange on Starknet, has ceased operations due to the lack of user engagement.
ZKX protocol (ZKX), a decentralized perpetual futures trading platform based on Starknet (STRK), is winding down its operations as it faces economic challenges due to minimal user engagement.
Important Statement 30.07.24
With much regret, we have to announce the discontinuation of the ZKX protocol. Despite our best efforts, we have been unable to find an economically viable path for the protocol.
(1) All markets have been delisted, positions have been closed and all…
In an X post on July 31, ZKX Protocol founder Eduard Jubany Tur expressed his regret over the decision, citing the inability to find “an economically viable path for the protocol.” The decision to halt operations stemmed from multiple factors, Tur said, referring to minimal user engagement and significantly reduced trading volumes.
“Our user engagement has been minimal, with only a few individuals mining STRK and ZKX rewards. Consequently, trading volumes have significantly decreased, and daily revenue can barely cover a fraction of our cloud server expenses.”
Tur on July 30
The ZKX Protocol founder also added that the project delisted all markets and closed positions, with funds now returned to “each user’s trading account.” Tur urged users to move their funds from trading accounts to their self-custodied wallets, with the closure period set to last until the end of August.
ZKX/USD 1-hour price chart, July 17-31 | Source: crypto.news
Following the news, the price of the ZKX token plunged by over 50% and is trading around $0.015, per data from crypto.news.
Founded in 2021 by a team led by Tur, Naman Sehgal and Vitaly Yakovlev, ZKX Protocol’s primary idea was to bring derivatives trading to the decentralized finance ecosystem using zk-rollups based on Starknet.
In July 2022, ZKX Protocol raised $4.5 million in a seed funding round. The investment came from a pool of investors, including StarkWare, Alameda Research, Huobi, Amber Group, and Crypto.com, among others. In total, the protocol secured $7.5 million.
Embarking on a journey into decentralized finance is akin to navigating a new and vast wilderness. Unlike traditional finance, defi offers a platform where everyone can be more than just a consumer; they can be active participants, decision-makers, and even innovators. For novices, this is an exhilarating but complex terrain. Structured education is not just helpful—it’s essential. It functions as a compass in the vast, sometimes perplexing landscape of defi.
The promise and perils of defi
Defi offers the allure of financial transactions without traditional intermediaries, promising greater efficiency and reduced costs. More significantly, it holds the potential to democratize finance. Defi provides essential services directly to consumers through blockchain-based smart contracts in regions where traditional banking systems falter. This empowerment, however, comes with substantial challenges.
Despite the total value locked (TVL) in defi, protocols have experienced massive fluctuations, peaking at over $180 billion in late 2021 and adjusting to market conditions with about $40 billion as of mid-2023, according to data from DefiLlama. This growth signifies a robust engagement, yet a significant gap in understanding persists.
Defi demystified: Mastering the basics
Diving into defi without understanding its foundational technology is like trying to navigate without a map. Structured educational programs help demystify this complex system by teaching the basics of blockchain, cryptocurrencies, and smart contracts in relatable terms. This grounding is crucial as it allows learners to grasp why defi can operate without traditional banks and how it offers enhanced transparency and security. Such knowledge is practical, equipping novices to make informed decisions and effectively manage their digital assets.
Risk management: Navigating safely
Autonomy in defi comes with significant responsibilities. The freedom to make financial decisions also includes the risk of making costly mistakes. Education in this field teaches critical risk management strategies and helps learners understand the volatility of crypto markets. For instance, novices learn about impermanent loss, the importance of due diligence, and how to spot potential scams—common pitfalls in the defi space. This knowledge is vital, as it protects individuals from the financial pitfalls that can occur when enthusiasm outpaces understanding.
Bridging the gap between theory and practice
Understanding defi concepts theoretically is one step; applying them is another. The best defi education bridges this gap through interactive learning—simulations, real-world case studies, and even sandbox environments where novices can practice transactions in a controlled setting. This hands-on approach is crucial for internalizing knowledge. It transforms theoretical understanding into practical skills, enabling learners to engage with real defi platforms confidently and competently.
The collective learning experience
Venturing into defi doesn’t have to be a solitary journey. Structured education often includes access to a community of learners and experts. This network acts as a dynamic support system where novices can ask questions, exchange ideas, and share insights. Such communities enhance the learning experience, keep members updated on the latest developments, and provide a forum for collaboration. In defi, where innovation happens rapidly, being part of a knowledgeable community helps individuals stay agile and informed.
Defi literacy is more crucial now than ever
The urgency for defi education stems from the sector’s rapid evolution and increasing relevance to everyday financial activities. As more financial instruments migrate to blockchain platforms, the line between traditional finance and defi blurs. Individuals who understand defi are better prepared to exploit emerging opportunities in this new financial paradigm.
Moreover, the global nature of defi makes it a powerful tool for financial inclusion. Due to stringent requirements or geographical barriers, traditional banking systems often exclude vast population segments. Defi, accessible to anyone with an internet connection, offers a viable alternative. Education in this sector equips people worldwide with the knowledge and tools to access financial services previously beyond their reach, fostering greater economic empowerment.
The path forward
The future of finance is increasingly decentralized. For novices, entering this new territory equipped with a comprehensive education in defi is not just beneficial; it’s imperative. This education goes beyond mere participation; it’s about thriving in a digital economy where those who understand and leverage defi principles can influence and lead.
Those on the brink of this financial revolution must remember that knowledge is power. In the context of defi, this is literal. Understanding how to navigate this landscape can lead to unprecedented control over your financial destiny. But it starts with education—structured, thorough, and continuously updated to keep pace with defi’s rapid evolution.
Thus, structured defi education isn’t merely about learning; it’s about transforming participation in the global financial ecosystem. It’s about preparing for a future where finance is not only digital but also decentralized, democratic, and diverse. This is why a structured educational approach is indispensable for anyone looking to navigate the promising yet complex world of defi.
A hacker has been sent to prison for draining over $900,000 from the accounts of several Coinbase users.
Elliot Gunton, a resident of the United Kingdom, and his accomplices designed fake websites that mimicked the prominent cryptocurrency exchange. Coinbase users trying to log into the exchange were redirected to these malicious websites, resulting in their accounts being compromised.
These websites are typically designed to collect user data. When a victim enters their log-in information, the sensitive data is recorded and sent to the attackers.
While the exact details of Gunton’s tactics were not disclosed, Judge Alice Robinson of the Norwich Crown Court said the scheme was “highly sophisticated” and was the result of significant planning and technical expertise.”
The phishing scheme was reportedly active between 2018 and 2019. According to a 2020 Chainlysis report, the period saw a significant uptick in crypto crimes, with over $4.3 billion worth of cryptocurrencies lost to various hacks and scams.
Gunton, who was 17 at the time, infiltrated over 500 Coinbase accounts and siphoned over $900,000. One United States resident allegedly lost over $16,000, while others were drained for hundreds and thousands of dollars.
He pleaded guilty to charges of conspiracy to commit fraud outside the UK and money laundering and is facing 43 months in prison.
Meanwhile, Coinbase has become the most impersonated crypto platform among global brands. According to a June 24 report from Mailsuite, the crypto exchange’s brand was tied to 416 reported phishing attacks over the past four years.
Most recently, on July 8, scammers pretended to be Coinbase employees and stole $1.7 million from a victim’s self-custody wallet. The victim was socially engineered into clicking a phishing link that compromised a part of his key phrase.
Scammers have also mimicked Coinbase Pro, Coinbase’s now-defunct professional trading platform. In May, an Indian national was charged with stealing $37 million in crypto from unsuspecting users via the fake Coinbase pro phishing website.
Security firm SlowMist has marked phishing as one of the leading causes behind crypto thefts in the second quarter of 2024.
Brett, the largest meme coin on the Base Blockchain, surged by over 12% on Monday as positive sentiment spread through the crypto and stock markets.
At the time of writing, Brett (BRETT) was still up 11.7%, trading at $0.1395, according to data from crypto.news. Over the same period, the meme coin, inspired by a character from the “Boy’s Club” comic, had a daily trading volume of $50.7 million.
BRETT has now become the 71st largest cryptocurrency, with its market cap exceeding $1.38 trillion. Despite this rise, BRETT remains down 27.8% from its all-time high of $0.1939.
The surge in BRETT follows an increase in Bitcoin (BTC), the largest crypto asset by market cap, which rose by 3.1% over the past day to $69,471 on Monday. This came after Republican candidate Donald Trump revealed plans to make Bitcoin a national strategic asset if elected in November.
Bitcoin’s 24-hour lows and highs were recorded at $67,320 and $69,842, respectively.
The meme coin sector also saw minor gains, rising nearly 3.4% in the past 24 hours, with its market cap reaching $55.5 billion.
Bitcoin’s performance often influences the broader cryptocurrency market, including meme coins. When Bitcoin performs well, it typically boosts investor confidence and interest in altcoins, creating a positive feedback loop that drives up prices.
Brett’s rally was also supported by the continued success of the Base blockchain ecosystem. Launched in 2023 by Coinbase, Base has accumulated over $1.727 billion in defi assets, making it the 6th largest chain in the industry, surpassing popular networks like Cardano (ADA), Avalanche (AVAX), and Polygon (MATIC).
Additionally, Brett and other altcoins benefited from a rebound in the US stock market, indicating a risk-on sentiment among investors. The Dow Jones index rose by over 650 points, while the S&P 500 and Nasdaq 100 gained over 55 and 175 basis points, respectively.
In the past 24 hours, Brett has shown a notable upward trend, as reflected in its price chart. The price climbed steadily from around $0.123 to approximately $0.140, indicating a strong bullish movement.
From a technical perspective, Brett has formed a morning star pattern, a well-known reversal signal. Historically, the token has seen double-digit gains when this pattern appears. For instance, on July 12, the formation of this pattern led to a 40% increase in the token’s price.
However, there is a possibility that this rebound could be a dead cat bounce, where an asset experiences a brief rise before resuming its bearish trend.
Bitcoin Cash has experienced a notable increase of over 13% in the past 24 hours, making it the top gainer among the leading 100 cryptocurrencies on July 29.
At the time of writing, Bitcoin Cash (BCH) had surged by 13.6% over the last 24 hours and was exchanging hands at $451. The crypto asset’s daily trading volume was hovering around $427 million, per data from crypto.news.
Moreover, the cryptocurrency’s market cap stood at $8.75 billion, making it the 16th largest crypto asset, per CoinGecko. Despite the recent price rise, the token is still down 88.3% from its all-time high of $3785.8, reached on Dec. 20, 20217.
Originating from a hard fork of Bitcoin in 2017, Bitcoin Cash was created following disagreements within the Bitcoin community regarding proposed upgrades. Like its predecessor, Bitcoin Cash operates on a Proof of Work (PoW) mechanism, has a capped supply of 21 million coins and undergoes a halving event every four years. The reward for mining Bitcoin Cash is currently set at 6.25 BCH.
A notable distinction between Bitcoin and Bitcoin Cash is the block size; Bitcoin Cash supports blocks of up to 32 MB, significantly larger than Bitcoin’s 1 MB limit. This larger block size enables Bitcoin Cash to process a greater number of transactions within the same time frame.
The recent price rally underscores a rising interest from investors, particularly retail traders, in more economically priced alternatives to Bitcoin, which currently trades around $70,000 per unit.
While Bitcoin remains one of the priciest crypto assets, making full ownership challenging for some investors, Bitcoin Cash and similar hard forks present more accessible investment opportunities due to their lower price points.
The recent surge in Bitcoin Cash (BCH) is partially attributed to Kraken’s successful distribution of Bitcoin and Bitcoin Cash to customers affected by the 2014 Mt. Gox hack. This distribution occurred on July 27, 2024, marking a crucial step in resolving the long-standing Mt. Gox case.
Additionally, significant whale activity has been reported with notable purchases of BCH, as indicated by the whale tracker “FishTheWhales” on their July 29 post.
A trading analyst known as Dz_4L highlighted on X that Bitcoin Cash has emerged from an inverse head and shoulders pattern, suggesting a bullish trend. He predicts that BCH could see a further 15-20% price increase based on this momentum.
Meanwhile, interest in Bitcoin has spiked following former President Donald Trump’s announcement about major initiatives involving digital assets, including a proposal for a national Bitcoin reserve in the U.S.
As of now, Bitcoin (BTC) is trading at $69,716, having increased by 3.23% over the last 24 hours, with a low of $67,314 and a high of $69,804 within the same timeframe.
Other leading altcoins such as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) have also posted modest gains. The overall crypto market sentiment is positive, with the Market Fear & Greed Index displaying a score of 63 (Greed) out of 100.
The global cryptocurrency market capitalization currently stands at $2.48 trillion, reflecting a growth of 3.34% in the past 24 hours.
