DeFi Summer | Crypto

KelpDAO's $292 million rsETH exploit landed at the wrong moment for DeFi. Roughly $10 billion left the sector over the weekend, after confidence had already been shaken by Drift Protocol's April 1 breach and Venus's March post-mortem. That combination makes DeFi's problem harder to ignore. While open DeFi may still be alive for now, it is losing the […] The post Six years after “DeFi Summer” is the sun already setting on the decentralized finance revolution? appeared first on CryptoSlate.

Billions worth of ETH raised by Ethereum treasury companies will flow into DeFi chasing yields up to 14%. Get set for DeFi Summer 2.0. Since they emerged from stealth mode two months ago, a dozen Ethereum treasury companies have bought 2 million ETH between them, with Standard Chartered analysts estimating theyll add another 10 million to that pile over time. Theres growing excitement that billions worth of that ETH could flow into DeFi protocols as firms compete to chase yields greater than the 3%-5% on offer from staking and re-staking. Etherealizes Vivek Raman tells Magazine healthy competition between treasury companies for yield could light a fire under the DeFi sector before the end of the year. Im actually pretty excited to see it. This could be the stimulus needed for DeFi Summer 2.0 but on the institutional scale and bigger and better. GameSquare Holdings, BTCS, BitDigital, The Ether Machine and ETHZilla have all announced plans to juice ETH yields via DeFi, while Tom Lees BitMine Digital and Joe Lub...