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Founder of largest decentralized derivatives exchange believes DeFi may soon see millions in new users

Founder of largest decentralized derivatives exchange believes DeFi may soon see millions in new users

In this episode of The Scoop, Antonio Juliano explains how dYdX v4 completely decentralizes the derivative platform’s governance, and why Juliano believes recent “custodial DeFi” improvements will bring in millions of new users to the DeFi space.

The post Founder of largest decentralized derivatives exchange believes DeFi may soon see millions in new users appeared first on The Block.

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An Overview of Drift Protocol

Quick Take

  • Introduced by Perpetual Protocol in 2020, virtual AMM’s have become a popular framework for experimentation with on-chain perpetual swaps. 
  • Drift is a protocol for on-chain perpetual swap liquidity on Solana.
  • Leverages a modified vAMM implementation with repegging and dynamic liquidity (termed a dynamic AMM or DAMM), Drift attempts to solve some of the shortcomings of previous vAMM iterations.

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Immutable proposes the Otherside metaverse should be built on its Layer 2 network

Ethereum Layer 2 scaling solution Immutable X wants to be the home of Yuga Labs’ metaverse project Otherside.

The post Immutable proposes the Otherside metaverse should be built on its Layer 2 network appeared first on The Block.

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May by the numbers: A look at crypto exchange volumes, open interest, and miner revenue

Quick Take

  • Total adjusted on-chain volume decreased by 5.9%, to $782 billion.
  • A total of 198,122 Ethereum, equivalent to $480 million, was burned.
  • Monthly volume of NFT marketplaces on Ethereum decreased by 32.6% to $4.85 billion.
  • Centralized exchange spot trading volumes increased strongly by 19.6% to $830.4 billion.
  • FTX came in 2nd for the first time in CEX spot trading volume, ahead of Coinbase, with a share of 10.8%.
  • Derivatives presented a mixed bag, with open interest declining for futures but increasing for options, and trading volumes up across the board.

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Pseudonymity startup Big Whale Labs raises $3.8 million seed round 

SealCred will let users create pseudonymous wallets to transfer social capital from one place to another.

The post Pseudonymity startup Big Whale Labs raises $3.8 million seed round  appeared first on The Block.

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Binance’s VC arm raises $500 million fund — its first with outside capital

Binance Labs, the crypto exchange’s venture capital and incubation arm, has raised $500 million to back web3 projects.

The post Binance’s VC arm raises $500 million fund — its first with outside capital appeared first on The Block.

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Binance is ‘reviewing all possible options’ for Forbes investment after scrapped SPAC

Crypto exchange Binance may still invest in Forbes, despite reports that the media firm has cancelled plans to go public through a SPAC deal.

The post Binance is ‘reviewing all possible options’ for Forbes investment after scrapped SPAC appeared first on The Block.

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Game developer Akatsuki announces $20 million web3 fund

The name Emoote was chosen to signal that NFT consumption is based on ’emotional values,’ Akatsuki said.

The post Game developer Akatsuki announces $20 million web3 fund appeared first on The Block.

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Prada becomes the latest fashion brand to launch NFTs

Luxury fashion brand Prada is launching NFTs, available for free to those who purchase items from its Timecapsule initiative. 

The post Prada becomes the latest fashion brand to launch NFTs appeared first on The Block.

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Forbes to ditch SPAC funding plan: NYT

The New York Times reported Tuesday that Forbes has canceled its plan to raise funds via a special purpose acquisition vehicle or SPAC.

The post Forbes to ditch SPAC funding plan: NYT appeared first on The Block.

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