DeFi Daily News,September 29th, 2020

1. An early rally Monday almost pushed bitcoin over $11,000; the other options market expects volatility in the short term. Bitcoin (BTC) trading around $10,874 as of 20:00 UTC (4 p.m. EDT). Gaining 1% over the previous 24 hours, which trading range was between $10,705 and $10,956.

2. Blockchain Bites: DeFi Meets NFTs, TSLA Beats Bitcoin in Volatility, Uniswap Breaks $2B. Bitcoin is moving off exchanges, has been less volatile than TLSA and broke its record for longest streak trading above five figures. The excitement in DeFi has shifted to the NFT market, CoinDesk’s Brady Dale reports. NFTs, one-of-a-kind tokens made possible by Ethereum’s ERC-721 standard, have not captivated investor attention until quite recently when people realized these digital collectibles could be used for yield farming. Platforms like NIFTEX have enabled NFT indices, Rarible has added a native token and Uniswap’s liquidity pools are creating new avenues for financialization — a trend Dale traces back to John Lyall’s MEME experiment.

3. According to the ChainNews, Binance has launched a new decentralized stablecoin system “Venus”, according to The Block report. Official information shows that the stablecoin system is a money market protocol that aims to introduce a completely decentralized lending system into the Binance Smart Chain (BSC) for fast and low-cost transactions. In addition, based on the Binance smart chain “Venus”, a decentralized stablecoin VAI supported by a basket of BEP-20 tokens will be minted. Binance CEO Changpeng Zhao said that “Venus” can be seen as a hybrid of MakerDAO and Compound. The Venus protocol was developed by the Swipe wallet, which Binance acquired earlier this year. Chain Wen previously reported that in August 2019, Binance announced that it would launch a regional version of Libra, code-named “Venus”, in an attempt to reshape the cross-border financial system and strengthen global supply chain financial collaboration.

4. DODO, a decentralized trading platform, announced the completion of a $5 million private placement round of financing. In the private placement round, a total of 100 million tokens (10% of the total issuance) were sold at $0.05 each. This part of the tokens will be locked up for 6 months, and 10% will be released immediately after 6 months, and then will be released linearly over time in the next year. In addition, DODO is expected to issue tokens on the evening of September 29.


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