FTX blasted after “creating tokens” to capture $1 million in value; but that’s what DeFi is supposed to be
BTC $9167 (-1.3%) • ETH $230 (-1.4%) • XRP $0.18 (+2.7%)
|CryptoSlate||Jun 26|| 2|
An incident earlier this week showed what peak Decentralized Finance (DeFi) could look like — one where the smartest survive and rent-seekers are eradicated immediately.
On June 25, Predictions Exchange tweeted FTX was creating tokens and listing them on CoinGecko, while supplying its own liquidity for capturing Balancer (BAL) distribution. The tweet noted FTX harvested over 50 percent of last week’s BAL distribution.
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Chainlink’s immense momentum has shown some slight signs of slowing down after the cryptocurrency set fresh all-time highs yesterday.
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It was a long time coming.
Ethereum’s fundamental strength has grown immensely throughout 2020.
The crypto market has seen a strong correction since its attempted breakout earlier this week, Cardano (ADA) has been no exception to this drop.
Innovative Bitcoin products are not falling short of delivering this year, with institutional firms notching up one crypto product or other.
Much of the ICO boom in 2017 was driven by massive surges in ETH prices — with scammers, aspiring technologists choosing the Ethereum protocol to issue their tokens, and reap some profits off the frenzy.
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