Cointelegraph.comcybersecuritydecentralized financeDeFiHacks

Default auditing for DeFi projects is a must for growing the industry

There has been a shift that has taken auditing from being seen as an unnecessary burden to an absolute essential for any serious project.
The radical opportunity presented by decentralized finance has garnered significant attention from investors and speculators alike. The total value locked in DeFi protocols grew over 2,500% in 2020, from around $700 million in January 2020 to over $20 billion in December 2020. TVL is a more useful metric than market capitalization when it comes to DeFi, as it accurately represents the equity that investors are willing to commit to these protocols. And their commitment didn’t end in 2020; this year alone, DeFi’s TVL more than doubled, reaching $40 billion in February.Related: Was 2020 a ‘DeFi year,’ and what is expected from the sector in 2021? Experts answer While DeFi’s growth over the last year can be largely attributed to retail investment, 2021 is shaping up to be the year institutions start getting in on the action. As yields from fixed-income assets continue to drop to historically low levels and unprecedented stimulus packages ratchet up inflation expectations, a massive amount of money is now seeking higher returns.Forward-thinking asset managers are turning to DeFi. Circle — the issuer of popular stablecoin USD Coin (USDC) — is set to launch the first high-yield digital dollar account to be aimed at institutions. By lending out to the capital-hungry crypto markets rather than oversaturated traditional markets, the account can offer up to 10.75% annual percentage yield. While it will initially serve only businesses, there are plenty of options that cater …
Story continues on Cointelegraph

Related posts
ArgentinaBitcoin PriceCointelegraph.comCryptocurrency ExchangeNew Year's Special

A year into the pandemic: How Argentina's economy struggled while its crypto ecosystem flourished

Let’s relive the events have that marked the Argentine crypto space since the beginning of the COVID-19 pandemic and hear the opinions of those in the industry that lived them from the inside. The year 2020 will go down in…
ArtArt CriticsAuctionCointelegraph.comMintableNFT

Painting by avant-garde master Baranoff-Rossine to be auctioned as a NFT

Mintable will be hosting the high-priced auction alongside more approachable pieces An early 20th century master who boasts a permanent installation at the Museum of Modern Art is about to get new life on the blockchain. In collaboration with NFT marketplace…
6 Questions For...Cointelegraph.comColumns

6 Questions for Sanja Kon of Utrust

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Sanja Kon, CEO of…