{"id":11820,"date":"2022-06-24T20:27:15","date_gmt":"2022-06-24T20:27:15","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/finance-redefined-uniswap-goes-against-the-bearish-trends-overtakes-ethereum\/"},"modified":"2022-06-24T20:27:17","modified_gmt":"2022-06-24T20:27:17","slug":"finance-redefined-uniswap-goes-against-the-bearish-trends-overtakes-ethereum","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/finance-redefined-uniswap-goes-against-the-bearish-trends-overtakes-ethereum\/","title":{"rendered":"Finance Redefined: Uniswap goes against the bearish trends, overtakes Ethereum"},"content":{"rendered":"
This past week, the decentralized finance (DeFi) ecosystem tried gaining some momentum amid the bear market crash. Uniswap saw a trend reversal and overtook Ethereum regarding network fees paid. However, not all DeFi protocols were as lucky, as Bancor had to pause its \u201cimpermanent loss protection\u201d in the wake of a hostile market.<\/p>\n
DappRadar\u2019s report shows that the GameFi ecosystem continues to thrive despite the current downturn in the market. Solend invalidates Solana whale wallet takeover plan with second governance vote.<\/p>\n
The top 100 DeFi tokens showed signs of recovery after last week\u2019s mayhem, and several of the tokens registered double-digit gains.<\/p>\n
Decentralized exchange (DEX) Uniswap has overtaken its host blockchain Ethereum in terms of fees paid over a seven-day rolling average.<\/p>\n
The surge appears part of a recent spate of high demand for DeFi amid the current bear market. Decentralized finance (DeFi) platforms such as Aave and Synthetix have seen surges in fees paid over the past seven days, while their native tokens and others such as Compound (COMP) have also boomed in price.<\/p>\n
Continue reading<\/strong><\/p>\n Blockchain games were the subject of the latest DappRadar x BGA Games Report #5, published Tuesday. The report looked at healthy ecosystems and investments in GameFi and metaverse markets.<\/p>\n The report covered several projects in detail, outlining their continued success and growth. Splinterlands, Illuvium, Galaverse and STEPN have continued bringing new players to their platforms, gaining financial interest and expanding their businesses.<\/p>\n Continue reading<\/strong><\/p>\n Bancor, a DeFi protocol often credited as the pioneer of the DeFi space, paused its impermanent loss protection (ILP) function on Sunday, citing \u201chostile\u201d market conditions.<\/p>\n In a blog post on Monday, the DeFi protocol noted that the ILP pause is a temporary measure to protect the protocol and the users. When a user gives liquidity to a liquidity pool, the ratio of their deposited assets changes at a later moment, potentially leaving investors with more of the lower value token, this is known as impermanent loss.<\/p>\n Continue reading<\/strong><\/p>\n Solana-based DeFi lending protocol Solend has created another governance vote to invalidate the recently-approved proposal that gave Solend Labs \u201cemergency powers\u201d to access a whale\u2019s wallet to avoid liquidation. <\/p>\n On Sunday, the crypto lending platform launched a governance vote titled \u201cSLND1: Mitigate Risk From Whale.\u201d It allowed Solend to reduce the risk the whale\u2019s liquidation poses to the market by letting the lending platform access the whale\u2019s wallet and letting the liquidations happen over the counter.<\/p>\n Continue reading<\/strong> <\/strong><\/p>\n Analytical data reveals that DeFi\u2019s total value locked registered a minor recovery rising above $56 billion. Data from Cointelegraph Markets Pro and TradingView shows that DeFi\u2019s top-100 tokens by market capitalization were on the move, and many of the tokens registered double-digit gains over the past week.<\/p>\nGameFi continues to grow despite crypto winter: DappRadar report<\/h2>\n
Bancor pauses impermanent loss protection citing \u2018hostile\u2019 market conditions<\/h2>\n
Solend invalidates Solana whale wallet takeover plan with second governance vote<\/h2>\n
DeFi market overview<\/h2>\n