CeFi
Amid crypto winter, Nexo commits additional $50M to buyback program
Crypto lending platform Nexo has increased the size of its buyback program, giving the company more discretionary ability to repurchase its native token to boost interest payments or make strategic investments in the future. On Tuesday, Nexo disclosed that its board of directors had committed an additional $50 million to buybacks, building off the company’s initial $100 million repurchase program launched in November 2021. The approval green lights the discretionary repurchase of up to $50 million worth of NEXO tokens on the open market. NEXO is the platform’s native cryptocurrency, giving users the ability to earn interest and lock in lower rates for borrowing. The token currently has a market capitalization of $563.6 million and 24-hour trading volumes of $46.7 million, according to Nexo...
DeFi needs a ‘killer app’ to go next level, says Ripple exec
A “killer app” for consumers is what will be needed to bring the decentralized finance (DeFi) sector to a level that draws in a mainstream audience, said Ripple Lab’s head of DeFi markets Boris Alergant. Alergant nade the comments during a panel at the Blockchain Futurist Conference titled “The Future of Decentralized Finance” on Aug. 9, which was covered by Cointelegraph reporters on the ground in Toronto, Canada. Alongside Alergant, Aventus Ventures CEO Kevin Hobbs, FLUIDEFI co-founder and CEO Lisa Loud, and Teller Finance CEO and co-founder Ryan Berkin also featured on the panel. The general sentiment among the panelists was that centralized finance institutions will ultimately push DeFi towards mainstream adoption. Alergant suggested that growth will likely come from a user...
The integration of CeFi and DeFi through Binance Bridge 2.0
DeFi is driving the development of cutting-edge Web3 use cases such as nonfungible tokens (NFTs), gaming and the metaverse. With the Binance Bridge 2.0, DeFi can be brought to a broader audience worldwide while maintaining the same smooth user experience as CeFi. Most of the “DeFi” ecosystem relies on centralized services because of convenience, which enables us to understand where the traditional world of centralized banking and the new world of decentralized money might intersect to everyone’s benefit. Binance, with its first bridge, made it possible to bridge assets listed on Binance.com to other blockchains. To integrate CeFi and DeFi, the Binance Bridge 2.0 comes to the rescue by allowing you to wrap ERC20 tokens to BEP20 BTokens and start staking your Ethere...
