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C.R.E.A.M. launches Iron Bank flash loans, eyes cross-chain capital efficiency

Iron Bank is ready to re-enter the spotlight after the Alpha Homura hack, and plans are underway to take the lending protocol to new heights. In a press release today, C.R.E.A.M. Finance announced a new feature for (and, by proxy, an unofficial relaunch of) Iron Bank, the protocol-to-protocol lending platform designed for flash and undercollateralized loans.  C.R.E.A.M., which founder Leo Cheng describes as “the yolo-est Compound fork,” is a money market designed to cover assets that are “underserved” and allow for greater capital efficiency for decentralized finance (DeFi) power users, listing assets such as Yearn vault tokens and liquidity pool…

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Andre Cronje Works On Uniswap Alternative On Another Chain

Andre Cronje works on a Uniswap alternative on another chain according to his Tweet where he gave a little hint as we are trying to find out more in the latest crypto news. Andre Croneje is one of the best-known names in the crypto industry as of recently especially when it comes to decentralized finance. Cronje announced the release of multiple products under yearn.finance as well as the governance token for the YFI protocol. It didn’t take long for the users to realize the huge potential of the platform which along with YFI’s scarce supply of 30,000 tokens, boosted the…

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YFI Founder Puts Himself Up As Uniswap Delegate Nominee

YFI founder puts himself up as a UniSwap delegate nominee hoping to influence the governance of the protocol as we are reading more in the latest altcoin news. In a tweet, Andre Cronje, the YFI founder puts himself up as a nominee for a Uniswap delegate hoping to build tooling to facilitate delegation, on-chain enforcement, and off-chain voting:  “At this point, I do not think it should be a rush to incentivize liquidity pools (this can be abused). I believe we have an opportunity to re-evaluate the tokenomics and distribution. We can help DAI or sUSD reach peg. We can…

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Defi Boom: Bubble Fears Grow as ‘Toxic’ Community Disagrees on Way Forward

The decentralized finance (defi) space is headed for an implosion unless the divided community leaders step forward with solutions. This is discernible from September 13 Sunday morning tweets by some influential players in the defi space wherein they attack each other. Waves blockchain creator Sasha Ivanov kicked things after depicting current defi ecosystem as Ponzi 2.0 and not the much talked about finance 2.0. Sam Bankman-Fried (SBF), the current leader of Sushiswap, expresses fears that yield farming food tokens are in fact propagating the decentralized finance (defi) bubble, while the Yearn Finance creator, Andre Cronje believes liquidity fragmentation to be…

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Sushiswap’s 2 Million Token Airdrop: Founders Face Accusations of ‘Making Defi a Joke Again’

Sushiswap’s new leader and FTX CEO Sam Bankman-Fried tweeted on September 12 that the promised 2 million token airdrop would go on as scheduled. The process was expected to last up to two hours or less depending on network congestion. The airdrop caps an eventful week for Sushiswap that started with the reported ‘exit scam’ by co-founder Chef Nomi and the return of the $14 million worth of ETH. After initially defending his actions that are believed to have caused the price of the decentralized finance (defi) token to crash, Chef Nomi made the surprise decision. Furthermore, the still anonymous…

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Andre Cronje Thinks YFI Should Be Capped At 30,000 Tokens

The creator of YFI, Andre Cronje thinks that the token supply should be capped at 30,000 permanently, as we find out in today’s altcoin news. Yearn.finacne’s creator Andre Cronje thinks that this new measure will prevent new YFI tokens from getting minted. The online community seems to be in agreement as they voted with 99% confirmation for the proposal. YFI’s price has exploded so far and is now trading at $41,210. Cronje proposed a new measure that will prevent new YFI tokens from being minted. In the online poll conducted today, he asked the community: Burn the timelock on the…

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Yearn Finance Launches Tokenized Debt Product StableCredit

Yearn Finance, one of the most-used yield aggregator pools, launched its stable coin debt product yesterday that allows users to take out tokenized debt loans, as per a release. StableCredit comes to Yearn For the uninitiated, Yearn Finance automates yield-maximizing profit switching opportunities for liquidity providers and yield farmers. It pools together liquidity from users, Read MoreRead More. The post by Shaurya Malwa appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

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Yearn.Finance Prepares A New Stablecoin DeFi Protocol

Yearn.finance prepares for a new stablecoin-based Defi protocol StableCredit that has the features of other decentralized lending protocols by skipping the governance token as we read more in today’s altcoin news. StableCredit is a new lending protocol by Yearn.Finance whose patrons can use the stablecoin as collateral to borrow other assets in the automated market maker. Unlike other Defi projects, this one doesn’t have a governance feature. As Yearn.finance prepares a new project, the creator said they are going against the grain by getting away from the governance token craze that boosts the crypto assets lending protocols. This seems like…

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YFI Creator Says USDC And USDT Will Be Available On Layer Two

The YFI creator Andre Cronje, says that there’s a lot of effort going into the crypto industry recently to alleviate the pressure some of the coins felt on the Ethereum network. Stablecoins make a huge chunk of the steep fees and they could all switch to Layer 2 for relief as we are about to read more in our Tether crypto news today. The YFI creator Andre Cronje, suggested that USDT and USDC will soon be available on Layer 2 since the stablecoins make the transition away from Ethereum. The comment came in the wake of a huge month for…

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Defi’s Raw Deal: Sushiswap Creator Transfers Multi-Sig Control to FTX CEO

After a number of individuals from the crypto community accused the anonymous developer Chef Nomi of exit scamming, the developer transferred the project over to Sam Bankman-Fried, the CEO of the trading platform FTX. On Saturday, September 5, the decentralized finance (defi) community got upset with the creator of Sushiswap, a forked project copied from the Uniswap Protocol. The reason many in the crypto community are angry toward the anonymous developer called Chef Nomi, is because he withdrew $13 million from the Sushiswap pool and cashed it out for Ethereum. Who woulda thought sushi goes bad after a week —…

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YFI Token Has Added More Than 3,000 Percent to Its Value

No doubt about it… The DeFi (decentralized finance) space is growing like there’s no tomorrow. One of the biggest coins within the arena to be expanding lately is known as yearn finance (YFI). Thus far, the coin is up more than 3,500 percent since last month. YFI Has Surged in Recent Weeks While everyone wants to make such a big deal out of bitcoin this year – the currency is presently up more than 40 percent since the beginning of 2020 – this is nothing compared with YFI, which has also put the world’s largest cryptocurrency by market cap to…

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Andre Cronje Explained: YFI Turns DeFi Traders Into Whales

Andre Cronje explained how the yEarn Finance took DeFi by storm as it was created by the yield automation tool but grew into the stack of different Defi products as we are reading more in today’s crypto news. The most popular product of the protocol is its vaults which automated liquidity mining and yield farming strategies which are gas efficiency, giving the smaller traders a chance to take part in more lucrative opportunities. yEarn is not free from risks but it was communicating to the public clearly. The so-called “revolution” is brewing into DeFi thanks to yEarn finance and gives…

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Defi Project Yearn Finance Smashes Records as Native Token Surpasses $30K

The decentralized finance (defi) crypto asset tied to the Yearn Finance project has smashed records this week, as the coin touched a high of $30,324 on Saturday evening. Yearn’s token YFI has been recently added to the Aave platform and the project’s founder, Andre Cronje, is currently talking about collaborating with the exchange FTX. Yearn Finance and the project’s native token YFI has jumped significantly in value since news.Bitcoin.com last reported on the project. Last week, YFI made headlines for outpacing bitcoin (BTC) by price per coin, as the YFI token value spiked to $16k on August 20. On Friday,…

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Andre Cronje Could Soon Quit yEarn Due To Toxic DeFi Community

The lead software developer of yEarn Andre Cronje, among the people most responsible for the growth of the DeFi industry in a multi-billion dollar industry, is on the verge of giving up and leaving the community he calls “toxic” so let’s find out more in the Blockchain today’s news. The YFI creator Andre Cronje is about to leave the DeFi sector. He has already quit once before, citing the “toxic” defi community as a reason. Cronje is the leading software developer who helped to grow the Decentralized finance space into a multi-billion dollar industry because as he told Decrypt, he…

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Y Curve Interest Rates Reach 2,000%, Assets Under Management Grows Tenfold After Token Launch

Depositors to the Y Curve decentralized finance (defi) pool received as much as 2,000% in interest this Saturday and about 600% (annualized) for the entire day. Before this increase, liquidity providers had been earning an aggregate rate of 10.58%. The latest interest rate growth follows Yearn Finance’s release of a YFI token to govern the Y pool that runs on the Curve defi platform, reports Trustnodes. The same report notes that as soon as the token launched, the assets under management (AUM) in the pool “jumped from about $8 million to $100 million.” Announcing the release of the ERC20 token…

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