Daily Web3 Headlines You Need To Know

18 August #NFT #DeFi&Trading #Policy&Law

🖼 NFT
Solana wallet fires up the grill to burn spam NFTs out of existence
Solana钱包开始将有害NFT烧毁

Solana-based wallet provider Phantom has launched a new burn feature allowing users to remove spam non-fungible tokens (NFTs) sent by scammers. According to an Aug. 18 blog post from the Phantom team, the new feature is accessible via the Burn Token tab in the Phantom wallet app, allowing users to receive a minuscule deposit of Solana (SOL) each time they use it…(Read More)

📈 DeFi & Trading
‘Don’t Say Terra’ and Other Reflections From Korea’s Crypto Extravaganza
“不要提及Terra”和韩国加密盛宴的反思

The largest event in Seoul this month, Korea Blockchain Week (KBW), counted many of Terra’s original builders, investors, and partners among its 7,000 attendees. KBW could have been an ideal forum to discuss the ills and excesses that culminated in the project’s unprecedented rise and fall. Instead, any reflection on Terra — whose controversial tactics continue to run rampant throughout decentralized finance (DeFi) — was conspicuously missing from the KBW agenda…(Read More)

Solana’s Biggest DeFi Lender is Leaning Into ‘Permissionless’ Loan Markets
Solana最大的DeFi贷款机构正在倾向于”无许可”贷款市场

Solend is giving the same “permissionless” principles underpinning decentralized exchanges’ limitless token listings a try on Solana Network’s cryptocurrency lending market. The biggest decentralized finance (DeFi) lender on Solana is letting anyone with 100 SLND (around a $70 fee) and some assets to spare spin up their own “permissionless pools” for lending those cryptos out…(Read More)

Economic design changes will affect ETH’s value post-Merge, says ConsenSys exec
ConsenSys exec说,经济设计的变化将影响ETH合并后的价值

The expert discussed the effect of the Merge on users, developers and businesses. Additionally, Sokolin also cleared up some misconceptions about the Merge and explained how the new development can have an impact on the price of Ether (ETH)…(Read More)

⚖️ Policy & Law
EU Lawmakers Seek to Cap Banks’ Bitcoin Holdings
欧盟立法者寻求限制银行的比特币持有量

European Union (EU) banks that are exposed to cryptocurrencies like bitcoin (BTC) would face caps and hefty capital requirements under proposed amendments to a financial-services law published Wednesday. The plans, tabled by Green Party lawmaker Ville Niinistö, seek to anticipate capital norms currently being consulted on by international standard-setters, the Basel Committee on Banking Supervision…(Read More)

Do Kwon Hires Law Firm in South Korea Anticipating Legal Battle: Report
Do Kwon在韩国聘请律师事务所,预计展开法律战

The former CEO of Terraform Labs is reportedly hiring a lawyer in preparation for a possible legal battle over the high-profile multibillion-dollar collapse of the Terra ecosystem in May…(Read More)

🔍 Learn
#CeDeFi

CeDeFi is a combination of centralized finance (CeFi) and decentralized finance (DeFi), it offers the same features as DeFi while being centralised via governance of a single or small group of entities. In short, CeDeFi is aimed to improve the traditional cryptocurrency model by providing a faster and improved version of traditional systems.

Who introduced CeDeFi into the market?

Back in September 2020, Binance’s CEO, Changpeng Zhao coined the term “CeDeFi” while launching the Binance Smart Chain(BSC). BSC has a dual-chain architecture that will empower its users to build their decentralised apps and digital assets on one blockchain.

Binance has sacrificed its decentralization and censorship resistance in return for the optimizations for low fees and high transaction throughput on BSC, and coined the term “CeDeFi” to come back to the criticisms from decentralization advocates.

Why CeDeFi?

The lack of industry-wide security measures is keeping billions of dollars sitting on the sidelines in centralized finance markets, waiting to get plugged into the larger DeFi ecosystem. The constant headline-grabbing hacks make for easy fodder for regulatory agencies and governments looking to discredit the industry. Beefing up industry-wide security is a must for wider institutional adoption of DeFi to take place. Also, DeFi lacks an institutional-ready DEX, as current DEXs lack the depth of liquidity needed to truly support major CeFi players.

So, it’s a yay or nay?

With CeDeFi, the transaction cost will be comparably lower than others while the gas fees is much lower than Ethereum as well, leading to the acceleration of transactions by allowing users to accept fees. In a long term, institutions that adopted CeDeFi can have inherent connections to governments and regulatory agencies, and eventually speed up the adoption of DeFi.

Additionally, compare to the CeFi system, the CeDeFi has an improved security. Hackers will find it far harder to break into the CeDeFi network than they will with traditional banking systems because of the network’s decentralized structure.

Another notable advantage is it is incredibly accessible by anyone who has an Ethereum wallet, hence lowering the entry barriers and enable them to explore more about the DeFi system. However, it also indicates that the CeDeFi heavily relies on Ethereum — If Ethereum fails, CeDeFi will likely fail as well.

🔥 Events

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