Nexo’s internal exchange would allow its users to switch and exchange between different asset classes from their Nexo wallet, and also to change the collateral. The crypto lending platform plans on having a Mastercard which would allow users to take loans against their crypto holdings in real-time. The Nexo Mastercard is currently only available in Europe but they plan on expanding it to the United States and Asia as well.

Antoni Trenchev, Cofounder and managing partner of Nexo stated that the amount of registered users had crossed 1 million and that about half of that number are earning on fiat currencies while the other half are earning on their cryptocurrencies. He added that the company has processed more than $3 billion for their users in over 200 jurisdictions.

The company is also looking at ways to work with the Decentralized products and decentralized finance or protocol so as to build some products in the future on.

“But right now, we are focused on generating the highest possible yield for our clients and investors in a manner that we are fairly certain is very safe for them,” Trenchev said, adding that decentralization of their services is coming, “as soon as there are sustainable solutions” that will enable safety.

The crypto lending platform has had a long-standing relationship with the Litecoin community and founder, Charlee Lee. Trenchev noted that an announcement of their partnership had caused a 40% spike in the amount of deposit on the platform.

“And what we saw is a spike in deposits of litecoin. I think it went up to something like 40% the week after announcing it, so these were tangible results out of this partnership,” he said.

The company is looking to expand its business geographically and to enter into the United States with an office in San Francisco irrespective of the fact that their digital asset Nexo would most likely be regarded as a Security under the US SEC jurisdiction. Plans for expansion of offices have been put on hold because o f the global pandemic, CoronaVirus.

The launch of Mainnet comes with an active ecosystem and real world use cases including Nebula Genomics, a Crypto Safe Alliance (which includes Binance and others), enterprise partners. The Mainnet network will be fully backward compatible with Ethereum thereby allowing developers to easily port new or waiting Decentralized Application (Dapp’s) to the Oasis network. The team has already started development in deploying Ethereum Dapps to the Oasis Network, this development includes Uniswap and the data governance and privacy API parcel.

The Mainnet will support Confidential Computing, a process where data is kept encrypted and private even while being processed by a node on the network. Developers who wish to use this feature must have their applications built on ParaTime, applications built on ParaTime can leverage confidential compute to protect data while also getting the benefits of immutability and traceability of a blockchain.

The newly launched mainnet makes it possible for lesser or lower fees to be paid while developing on the blockchain. It is designed in a lightweight, scalable manner and prevents front running while allowing lower fees. This development is aimed at helping the DeFi sector since one of the challenges currently faced within the DeFi space is the high cost of transaction fees paid by users and smart contract deployers and Dapps.

The Mainnet is built using the same Ethereum Virtual Machine (EVM) runtime that Ethereum uses but faster and more affordable for prospective users. Developers can deploy their Dapps to the network if they want since it supports the entire Solidity tool chain.

They decided to move the funds across different platforms so as to get the funds off Binance Smart Chain, most of the funds were swapped to the Ethereum blockchain and some sent to the Binance’s centralized bridge and two other cryptocurrency exchanges. Funds sent to Binance were reportedly frozen.

On-chain analysis helped the Binance team identify the owners of those addresses and who the creators of the platform were, they were notified and they have returned funds to Binance. All funds returned will be given back to the owners after most of the funds converted to other tokens must have been converted back.

The Defi world is filled with scams like this, where platform owners sell the dream to the investors only to later try to make away with people’s funds, sometimes it’s an unaudited Smart contract with a technical bug being found by hackers and they take the opportunity to exploit the bug, and investors are left hanging.

On chain analysis has also proven itself to be a smart tracker of this funds down to the owners of the wallets, in cases of the hack of dForce or bZX’s, they helped them to identify and catch the perpetrators.

Binance, the parent company incharge of the Binance Smart Chain has also stated that they do not hold any central power over the blockchain with regards to controlling funds. Hacked funds that make it to Binance cryptocurrency exchange can be frozen since it holds the power to a centralized exchange or body. However, Binance controls a large portion of BNB stake which makes it control a large portion of the validations on the network and Binance CEO, Changpeng Zhao refers to it as “Centralized Decentralized Finance “.

With the help of Ren protocol, harvest finance was able to identify the Bitcoin address where the funds were moved to and then proceed to ask major exchangers like Binance and coinbase to freeze any funds sent from those wallets addresses. The attacker however sent back about $2.5 million to the deployer address in the form of tether (USDT)  and USD Coin (USDC), regarding the returned funds, Harvest finance tweeted and said “funds will be returned to affected depositors pro-rata using a snapshot.

Harvest Finance Farm Tokens and Pools Affected

Since the occurrence of this attack, the native token for the Harvest finance protocol declined over 50% within 24hour. As at the time of writing, the token is sitting at $94.84 with a total market cap of $24,292,212 according to Coinmarketcap.

According to data from Defipulse, the pool has also been affected as over 60% of it’s initial total locked value (TLV) from over $1billion as of October 25 to $323.2 million right now.

What are MetaData and Why is it important

Metadata is simply “data about data”. So it basically gives more information about a transaction like describing the context, content and structure of records. Cardano already stores information permanently on the blockchain but without specific details of the transaction. The addition of metadata would allow for more data/information to be given out regarding a particular transaction on the funds, time of deal, product manufacturer or the supply conditions if an online purchase was made. All of these records are important to maintain along with the transaction of wealth.

This feature is important because it helps in certification and validation, this simply means that it allows for information to be stored online and just not the wealth transfer. It will come handy with any other aspect of life that deals with supply chains such as factories, customers, suppliers and delivery services.

IOHK (Input Output Hong Kong), the parent company of Cardano plans on utilizing this feature on the Atala products which are :Atala prism, Atala trace, and Atala scan solutions. Owners of businesses interested in using this in their system can also reach out to Cardano through enterprise.solutions@iohk.com to find out how to incorporate metadata services in your processes.

Everything was going good until Kirby decided to promote a project which was being tested and not yet audited or proven. They asked people to invest in it and investors who then looked up to them as those who spotted early trends invested, the project was hacked and $15million  was stolen by the hacker although half of the funds was later returned. This made blue Kirby suffer some set back in his reputation with the (Ethereum community)

Kirby was also actively  promoting and selling NFT’s which they had launched. Rumors of funds going directly to Kirby started spreading to the point that it got Rarible, an NFT market place to suspend the NFT from it’s marketplace thereby ruining Kirby’s reputation more.

On October 4th, Kirby left the Ethereum community and also deactivated the twitter account. It is believed the $1millon Kirby left with was gotten from selling YFI tokens and also in addition to the funds he made from selling NFT’s and off-Blue sales.

When speaking on whether or not Kirby would return to the Crypto-Community, Anthony Sassano who documented the the incident said “I highly doubt it. There are some things you can come back from but it doesn’t seem like this will be one of them,” said Sassano, adding that “even if what Blue Kirby did was an honest mistake and even if they originally had good intentions, they have probably hurt too many people and broken too much trust to be welcomed back with open arms.”

“We are really excited to work with the Oasis Foundation. Their privacy technology is very innovative, and we believe that MTR on the Oasis Network will be a very important component of the privacy-focused DeFi ecosystem. And this will help grow and improve the overall DeFi space.” -Xiaohan Zhu, Co-Founder and CEO of Meter stated.

The Oasis Network is a layer 1, proof-of-stake, decentralized blockchain network that is designed to support end-to-end confidentiality and data ability. When the MTR token is displayed on the Oasis network, developers would then be able to integrate decentralized, stable and now private token into their Defi apps.

“Critical to mass adoption of DeFi is the ability to trade stable digital assets coupled with privacy technology. Adding permissionless and low-volatility currency without collateral to privacy, scalability, composability, and identity encourages the involvement of institutions in DeFi, significantly expanding its current scope.” -Luca Cosentino, Head of DeFi Products at Oasis said.

Meter plans on also possibly deploying their governance token MTRG, to the Oasis network sometime in the future. In addition to other launches on other blockchains made, Oasis network would be the fifth public blockchain partnership in which they’ll build a bridge. Among other launches and blockchain partnerships is the recent partnership with Elrond,  Matic and TIXI and even launched their two tokens on the Ethereum blockchain called MTR and MTRG respectively.

Oasis Network

They are the first privacy-enabled blockchain platform for open finance and responsible data economy. The network is being run by the Oasis Foundation, they support the development and ecosystem of the Oasis network.

Meter

This is a Defi infrastructure that is scalable and stable. The system users use proof-of-work(POW). Meter is a Layer 1, permissionless, low-volatility currency without collateral, oracle, or regulatory risk. Meter uses an innovative economic and consensus design that separates currency creation (Proof of Work) with record keeping (Proof of Stake). Its value is supported by the price of 10 kWh of electricity, which is more stable in purchasing power than any fiat currency in the world.

This new feature will allow Binance tokens users to simply stake their tokens and in exchange, earn an interest which Will be calculated and paid out daily. The interest starts to accrue at 0.00 AM (UTC) on the 2nd day after one has staked their BNB. Users will get their income payments starting on the 3rd day of staking.

Funds staked can be tracked through their tokens via the platforms vault page>my share. Staked BNB tokens will allow the users to earn such incentives as VIP rights, launch paid holding position, airdrops, and daily BNB balance calculation. BNB tokens staked can also be unstaked at any time they want from the vault.

“BNB Vault Is a Capital-Guaranteed Investment Product With Flexible Access. It Integrates Various Binance Products to Maximize the Income Potential of Your BNB From Both Centralized and Decentralized Finance in Just One Click.”

This development will boast Binance token ecosystem,  even boosting the user case of BNB and this too is in line with the exchanges effort to integrate Defi projects through the recently launched Binance Smart Chain (BSC). The smart chain hosts multiple yield farming projects which includes the likes of pancakes and burger swap.

The staked tokens on the MasterNode will earn holders the standard rate of network rewards and these rewards will be issued as extra StakedDASH. Investors interested in Staking on the StakeHound platform  only need a minimum of one Dash instead of the previous procedures of creating your own MasterNode which involved a lock-up of 1,000 Dash tokens.

The partnership will see 100th parties allowing users to not only access Defi but to also allow Defi users to access Dash.

Mason said that the bridge “provides an additional on-ramp for DeFi, but more importantly a much-needed off-ramp for DeFi users who wish to easily convert their gains into a well established scarce cryptocurrency with utility beyond the DeFi ecosystem. This allows DeFi users to exchange DeFi tokens for Dash enabling them to actually spend and use those tokens in the real world.”

The official announcement states that the Delphi Network will typically reduce the amount of gas consumed by around 75% due to a number of improvements to the blockchain Michelson interpreter. Storage costs have also been reduced to about 4 times lower compared to its initial cost.

“When you combine upgrade regularity with the reduced gas costs that this particular upgrade brings, Tezos is ripe for DeFi development,” noted Hugo Renaudin, co-founder of LGO Group and founder of Bender Labs.

The Ethereum gas prices are different to that of  Tezos, unlike Ethereum, gas is not used to pay fees on Tezos, they mainly serve as a limiter to prevent apps from consuming too much computing power. Gas prices are paid dude to the complexity of computations that are required to perform any given operations.

Gabriel Alfour, the lead developer at Marigold who served as a core developer of the Delphi upgrade spoke on the importance of low gas cost for DeFi applications.

“With the Delphi upgrade, the Tezos protocol has become significantly more attractive for DeFi applications and experimentation with complex smart contracts due to dramatically reduced gas costs, Alfour said.

Decentralized Finance (DeFi) and Decentralized application (DApps) have gained momentum since early this year. The demand for the DeFi ecosystem grew greatly and even raised concern for Ethereum gas prices. To eliminate this from happening again the Ethereum Network is going to launch ETH 2.0. Tezos upgrade might help DeFi builders cut down on cost and to use the Tezos blockchain more.

Tezos

Tezos is an open-source platform for assets and applications backed by a global community of validators, researchers, and builders.