DeFi Daily News,November 27th, 2020

1. Bitcoin suffered a price crash earlier on Thursday, having missed record highs by a narrow margin earlier this week. The top cryptocurrency by market value fell from over $19,300 to $16,327 during the early European trading hours and was last seen trading near $17,200, representing a 10% drop on a 24-hour basis, according to CoinDesk 20 data. The sudden fall caught many traders off-guard, given the cryptocurrency was trading just 2% short of its record high of $19,783 on Wednesday. There have 3 reason for declining: Excess leverage, Technical pullback, Other factors amplified sell-off. Indeed, bullish macro factors such as increased institutional participation, record money printing by central banks, and the search for yield remain intact despite the price drop.

2.The DeFi fixed interest rate generation agreement 88mph (MPH) announced that the MPH reward rate of the Compound pool will be increased to 4 times the current value, and the MPH reward rate that depositors need to repay when withdrawing funds will once again be reduced from 50% to 30%. The percentage of MPH rewards repaid by 88mph initial depositors is 90%. At present, it has reduced the Compound token pool twice, from 90% to 50%, and then to the current 30%. Currently, the MPH rewards in the Compound pool are permanently annualized at approximately 30%.

3. According to the ChainNews, DeFi robo-adviser Rari Capital announced the launch of an automated charity program, which will contribute 50% of all agreement income to the Rari Foundation, a donor recommendation fund promoted by Endaoment, and the remaining 50% will be used weekly Token repurchase and destruction. The Rari Foundation is governed by RGT token holders, who decide which charities the funds should be allocated to. Rari Capital plans to develop donation tax incentives for individual depositors in the coming months. In the next year, Rari Capital will donate millions of dollars to charities through this move.


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