Sberbank, Russia’s biggest banking establishment, is ready to have its decentralized finance (DeFi) platform operational by May. According to a report on February 3 by the Russian news agency Interfax, the Russian majority state-owned bank plans to roll out the project in multiple steps based on statements by the Product
Sberbank’s DeFi platform will allow users to perform banking operations such as lending and saving. Beta testing starts in March, while commercial operations should start in April. Russia has had an ambivalent approach to crypto since it invaded Ukraine. Sberbank is launching its Decentralized Finance (DeFi) platform based on the
Sberbank will have an Ethereum-compatible DeFi platform by the end of April. Key Takeaways Sberbank is set to launch an Ethereum-compatible DeFi platform. Launch will happen on multiple steps, with commercial transactions enabled by the end of April. Sberbank is the largest bank in Russia and the third largest in
A recent report details that Russia’s largest financial institution, Sberbank, plans to launch a decentralized finance (defi) platform in May. Konstantin Klimenko, product director of Sberbank’s blockchain laboratory, said that open testing will begin in March. Sberbank’s Defi Platform to Enable Large-Scale Commercial Operations According to a report published by
Yet another Solana-based DeFi platform is closing its doors. Everlend, a Solana-based decentralized finance (DeFi) borrowing and lending platform, is shutting down its services. According to the Twitter thread posted on February 1st, Everlend claimed that the move was caused by a lack of liquidity and shrinking borrowing and lending
Users of decentralised finance (DeFi) have expressed a significant amount of anxiety over the system’s vulnerability to exploitation. According to a research published by Privacy Affairs, cybercriminals stole bitcoin worth $4.3 billion between January and November of 2022, representing a 37% rise over the previous year’s total. The integrity of
Everlend Finance, the company behind the Solana decentralised finance (DeFi) system, is winding down its business activities and requesting that users remove their cash from the network. On February 1, the firm announced the decision through Twitter, explaining that while having “enough runway” to continue functioning, doing so would be
Smart Contract Token Market Soars to $332 Billion; Defi Value Reaches High Not Seen Since FTX Collapse
The smart contract token economy rose 5.6% against the U.S. dollar on Thursday, reaching $332 billion. Additionally, the value locked in decentralized finance (defi) increased to nearly $50 billion, a record high not seen since the collapse of FTX. Smart Contract Economy and Defi TVL Bounces Back On Thursday, Feb.
During the month of January, there was a sharp drop in losses from exploits compared to the same time period last year. This was more encouraging news for the sector, which came on the heels of the bullish rise that occurred in the cryptocurrency market during the month of January.
Introduction to DeFi and its impact on traditional financeDeFi has the potential to revolutionize the way we access and use financial services and is already beginning to disrupt the traditional financial industry. In this article, we will explore how DeFi is changing the financial landscape, the benefits and potential risks
Since the crash of the TerraUSD (UST) algorithmic stablecoin in May 2022, many users in the crypto ecosystem have acquired a weariness against that specific asset class. The market for algorithmic stablecoins has plummeted 10x from its all-time high before the Terra crash. However, this has not prevented Cardano network
VVS Finance, or Very Very Simple Finance, is an automated market maker (AMM) DEX and the largest project built on the Cronos blockchain, launched by Crypto.com in 2021. VVS facilitates liquidity pools, swaps, and staking and offers an intuitive UI aiming to drive global adoption of DeFi. Read on for