DeFi Protocol Archives - Crypto Insider https://cryptoinsider.asia/post_tag/defi-protocol/ Crypto and Blockchain News Mon, 24 Apr 2023 15:38:26 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://cryptoinsider.asia/wp-content/uploads/2021/11/cryptocurrency-icon.png DeFi Protocol Archives - Crypto Insider https://cryptoinsider.asia/post_tag/defi-protocol/ 32 32 199368904 DeFi Protocol Thetanuts Finance Raises $17M for Expansion, New Partnerships https://cryptoinsider.asia/defi-protocol-thetanuts-finance-raises-17m-for-expansion-new-partnerships/ Mon, 24 Apr 2023 15:38:26 +0000 https://cryptoinsider.asia/defi-protocol-thetanuts-finance-raises-17m-for-expansion-new-partnerships @ Crypto Insider

The startup offers multi-chain structured financial products with plans for a buy-side altcoin options market.…

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The startup offers multi-chain structured financial products with plans for a buy-side altcoin options market.

Decentralized-finance platform Thetanuts Finance has closed a $17 million funding round led by Polychain Capital, Hyperchain Capital and Magnus Capital.

The funding will help the company create new partnerships with layer 1 and layer 2 networks, liquidity providers, blockchain foundations, market makers and exchanges.

The funding round comes as the industry continues to slowly climb out of the crypto winter deep freeze that nearly stalled the investment landscape. Providers of blockchain infrastructure have proven to be the most resilient firms during the downturn, and DeFi projects have taken favor over centralized products after the collapse of centralized exchange FTX last fall.

Thetanuts Finance offers crypto structured products that cater to option traders, decentralized autonomous organizations, market makers and other liquidity providers. Users can earn yield on major cryptocurrencies and popular altcoins, provide liquidity, and execute short and long options strategies.

Thetanuts Finance will soon launch a buy-side altciin options market powered by decentralized options vaults, which the firm says will make options strategies – particularly those involving altcoins – available to more investors.

“At Thetanuts Finance, we are dedicated to leading the way in building a thriving altcoin options market for both budding and established ecosystems across different chains, including non-EVMs. Our commitment to innovation and decentralization has never been stronger, and we look forward to driving the DOV model to new heights,” Thetanuts Finance adviser Sherwin Lee in a press release, referring to Ethereum Virtual Machines.

Thetanuts Finance raised $18 million in March 2022 in a round that was led by crypto hedge fund Three Arrows Capital, crypto options exchange Deribit, QCP Capital and Jump Crypto. Three Arrows collapsed about three months, largely because of its exposure to Terra, a crypto network that fell apart in May 2022.

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]]> 4867 DeFi Protocol Yearn Finance Will Now Let Anyone Create Curve Reward Farms https://cryptoinsider.asia/defi-protocol-yearn-finance-will-now-let-anyone-create-curve-reward-farms/ Tue, 10 Jan 2023 13:07:32 +0000 https://cryptoinsider.asia/defi-protocol-yearn-finance-will-now-let-anyone-create-curve-reward-farms @ Crypto Insider

Yearn was among the first yield aggregators in the now-mature decentralized finance ecosystem. Decentralised finance…

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Yearn was among the first yield aggregators in the now-mature decentralized finance ecosystem.

Decentralised finance (DeFi) project Yearn Finance will allow users to create their own vaults to accrue yield and deposit proceeds to earn even more token rewards.
Yearn will charge 10% as performance fees for providing such a facility. DeFi is a term used to describe financial activities carried out on a blockchain without traditional middlemen.
So far, users have been limited to vaults created by Yearn’s contributors and developers. With the introduction of the “permissionless vault factory,” anyone can create their own strategies and offer them on Yearn, where other interested users can deposit their own tokens and earn yields.
This may, in time, increase Yearn’s user base and attract more liquidity to the popular DeFi tool. Yearn earns revenues based on user liquidity, where it charges a portion of the rewards as fees for its yield aggregation service.
Vaults refer to an on-chain product that uses crypto deposits to earn yield through various investment strategies. These yields were generated as a “reward” for participation in various DeFi applications, such as lending, borrowing, or trading.
Yearn has over $360 million in total value locked as of Tuesday, DeFiLlama data shows. Over 24 vaults are already active on the Yearn platform, offering yields ranging from 1.3% to as much as 17% annualized.
As of Tuesday, users can initially make vaults only for the liquidity tokens of Curve Finance, a stablecoin swapping application. These vaults will use veCRV, a time-locked token issued by Curve, which allows users to effectively boost their yield rewards.
Some $100,000 in fees were generated on Curve in the past 24 hours, data shows, with these fees distributed to Curve users and liquidity providers.
The permissionless vaults are part of a broader V3 plan, which aims to make Yearn wholly decentralized, in the future, in terms of products and services offered to users.

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