China News Daily TheBitTimes.com

The decentralized finance (DeFi) landscape is rapidly evolving, offering unprecedented opportunities for financial inclusion and innovation. However, with these opportunities come significant risks. Smart contract vulnerabilities, protocol failures, and market volatility are just a few of the challenges that can lead to substantial financial losses. As the DeFi ecosystem expands, the need for robust risk management solutions becomes increasingly critical. This is where de centralized insurance for DeFi protocol risks comes into play.  The Need for Decentralized Insurance Traditional insurance models are ill-equipped to handle the unique risks associated with DeFi. These models often rely on centralized authorities and cumbersome processes, which are antithetical to the de centralized ethos of DeFi. Moreover, the speed at which DeFi protocols operate necessitates a more agile and transparent approach to risk management. De centralized insurance aims to fill this gap by leveraging bl...

OnFinality backs Krest Network, the world’s first simulation network for DePIN and the Economy of Things. The OnFinality is a multi-chain infrastructure provider, that announces support for Krest, peaq’s canary network. OnFinality provides easy-to-use, reliable, and scalable API endpoints for builders to deploy and run their dApps on krest quickly and easily! “The integration with OnFinality’s API and Node infrastructure offers crucial support to the peaq community, facilitating fast and reliable access to the krest blockchain for builders.”— Leonard Dorlöchter, co-founder of peaq What is Krest Network? krest is peaq’s canary network — the world’s first and only Economy of Things simulation network. krest is your home for socio-economic, technical, community, and governance innovation and experimentation within the peaq ecosystem. Launch dApps and tools for the Economy of Things and assess their impact in a live environment on a public blockchain network, without running the risk of ca...

YFX partners with Chainlink Data Streams to power decentralized perpetuals exchange on Arbitrum mainnet. YFX has enhanced its DeFi user experience by incorporating DeFi’s industry-standard, pull-based, low-latency oracle solution, supported by the reputable and unbiased Chainlink infrastructure. YFX’s initial integration includes utilizing the Chainlink Data Streams for AVAX/USD, BNB/USD, BTC/USD, DOGE/USD, ETH/USD, LINK/USD, USDC/USD, and USDT/USD. The YFX has selected Chainlink Data Streams as the favored low-latency Oracle solution due to their provision of high-quality data through established Chainlink infrastructure. This setup ensures exceptional performance and security, even during unforeseen circumstances like exchange downtime, sudden market drops, and potential data manipulation attacks facilitated by flash loans. YFX V4 is a decentralized perpetuals exchange offering a comprehensive and cost-effective trading platform with a leverage of up to 200x. It introduces...

LI.FI integrates with Swell Network, a non-custodial ETH liquid staking protocol, and has integrated LI.FI’s zap feature! With the integration, users can zap any asset they have on Ethereum to receive SWETH and start earning staking yield.  Improved User Experience: Swapping to SWETH Made Easy with LI.FI’s DEX Integration Swell users no longer have to exit the platform to find a DEX for swETH swapping. By utilizing LI.FI’s stack of seven leading DEXs on Ethereum, users can now make the switch to swETH conveniently and at the best possible rate. Introducing Swell: The Future of Decentralized Finance Swell is a non-custodial liquid staking protocol that is committed to creating the greatest liquid staking experience, making DeFi more accessible, and securing the future of Ethereum. Swell enables users to earn passive income by staking ETH, which earns blockchain rewards, and a yield-bearing LST, which can be held or used in the wider DeFi ecosystem to earn additional yield. Th...

How to use QuickSwap? QuickSwap is a decentralized exchange (DEX) built on the Polygon network (formerly Matic Network) that allows users to trade cryptocurrencies without the need for intermediaries like traditional exchanges. QuickSwap uses automated market-making (AMM) algorithms to facilitate trading, and it offers users the ability to earn rewards by staking their tokens in liquidity pools. Furthermore, QuickSwap offers fast transaction times and low fees thanks to its integration with the Polygon network, which is designed to provide fast and cheap transactions on Ethereum-based networks. The exchange also offers a user-friendly interface and supports a wide range of ERC-20 tokens, making it a popular choice for traders looking to access a variety of cryptocurrencies. Here are some of the key features of QuickSwap Decentralized QuickSwap is a decentralized exchange, which means that it operates without any central authority or intermediary. This makes it more secure and less sus...

Functions of Nabox Wallet that all Nuls customers and users need to know. Nabox is a decentralized, non-custodial cryptocurrency wallet that allows users to securely manage, store, and exchange their digital assets. It is designed to provide users with a user-friendly interface and a seamless experience for managing their cryptocurrencies. With Nabox, users have complete control over their funds and private keys, which are stored on the user’s device, rather than on a central server. This means that users are the only ones who have access to their funds, and they are not at risk of losing them due to hacks or server failures. Nabox supports multiple blockchains, including Ethereum, Binance Smart Chain, Heco, and others, and allows users to seamlessly switch between them. It also supports a wide range of cryptocurrencies, including BTC, ETH, USDT, and many others. Overall, Nabox is a secure and easy-to-use cryptocurrency wallet that provides users with full control over their digit...

Introducing BNBChain Greenfield a decentralized storage infrastructure within the broader BNB Chain ecosystem where users and dApps can create, store, and exchange data with full ownership to form a new data economy. BNB Greenfield will also open the floodgates to the novel, innovative, and transparent Web3 business models for dApps. Transparency and ownership of data are the next steps in unlocking the full potential of the Web3 era. BNB Greenfield will continue to develop this new frontier in partnership with, and for the benefit of, the broader Web3 community and the next generation of Web3 users. The Architecture of BNB Greenfield Furthermore, BNB Greenfield’s ecosystem is a trinity of entities that work in concert to provide a novel decentralized data storage system – all with the user at the center. BNB Greenfield Core In addition, BNB Greenfield Core is comprised of a storage-oriented blockchain (BNB Greenfield) and a decentralized network of Storage Providers (SPs). ...

SharDex launches on Shardeum. SharDex – the first community-driven and all-in-one DEX on Shardeum – has deployed on the Shardeum testnet. SharDex’s mission is to provide a place where people can buy and sell with the best experience. It aims to make it easier for users to access financial services on Shardeum by building a secure and user-friendly financial infrastructure on the chain. It has deployed with the following core functions: SharDex Bridge, which can help users transfer assets from other blockchains to Shardeum SharDex Earn, which provides users with various DeFi financial products, including Farm and Pool SharDex Swap, which is a swap function with the AMM algorithm SharDex Bridge can help users transfer assets from other blockchains to Shardeum, which is an important fund entrance for Shardeum in the future. With the launch of Bridge this time, users can transfer assets from the testnet of other chains to Shardex through the bridge, which is an interesting experience. The...