Half a Billion Dollars Worth of Bitcoin and Ethereum Now Locked in DeFi

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Summary

That has now some $9.7 million worth of bitcoin locked in it, doubling from April when we last looked. So margins on steroids. $25 million worth of them, although because of collateral, divided by 3 presumably. Millions of eth and more than one thousand bitcoins are now locked in what has been dubbed Decentralized Finance (DeFi). Close to some $7 million bitcoin has been WBTC tokenized on eth, up from just half a million in April. SynthetixThis apparently launched just in March and already has not far off from $20 million worth of crypto locked-in presumably mainly for the longs and shorts.

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Millions of eth and more than one thousand bitcoins are now locked in what has been dubbed Decentralized Finance (DeFi).

This DeFi-iance can be described as native financial services that operate in a trustless manner on the ethereum or bitcoin blockchain through a largely autonomous and self-operating code based system that can’t be tampered with in usual circumstances (ignoring hacks and so on).

It’s a very new and fast evolving area that was established only last year with it proving to be quite popular because it can provide certain useful services.

The Lightning Network is the most prominent example for bitcoiners. That has now some $9.7 million worth of bitcoin locked in it, doubling from April when we last looked.

Since then, quite a lot seems to have changed, so we’ll go through much of it as provided by the DeFi Pulse.

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