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Defi Digest
May 18, 2023

Defi Digest

💡This article is AI generated

We are constantly evolving and adopting innovation to see how they can help further defi. Using AI to generate digests is one of these efforts, as well as to generate some visual representation. Let us know what you think and join in on the discussion on Discord!

The past week in the crypto world witnessed several captivating events that continued to shape the industry’s ongoing trends. From the skyrocketing popularity of Remilia NFTs to the expansion of Stripe’s fiat-to-crypto services, and the launch of Maker’s Spark Lend protocol, each development showcased the dynamic nature of the crypto landscape. In this article, we’ll delve into these engaging events that are driving innovation, market shifts, and user engagement.

Remilia NFTs: Paving the Way for Price Resurgence

Following the recent craze around meme coins, attention has now shifted to the world of non-fungible tokens (NFTs). Specifically, the Remilia NFTs, including the Milady Maker and Redacted Remilio Babies collections, have taken center stage. These Chibi-style NFT collections have gained notoriety for their confrontations with other NFT communities, such as Bored Apes and Azukis. Their floor prices have soared while established blue-chip collections experienced declines. This surge in popularity can be attributed to the growing adoption among influential crypto figures and protocols, as well as Elon Musk’s endorsement of Miladies through a tweet. Remilios, a newer and more affordable collection, have seen their value grow even faster, captivating the attention of traders.

Source: Twitter

Staked Ether Deposits Skyrocket by 500% Following Shapella Launch

According to recent reports, staked Ether deposits have surged by an astonishing 500% since the launch of Shapella. Shapella, a decentralized staking service for Ethereum, has gained significant traction among users looking to earn passive income by participating in the network’s proof-of-stake consensus mechanism. This surge in staked Ether deposits highlights the growing interest and confidence in Ethereum’s staking ecosystem as users seek to maximize their returns and contribute to the network’s security.

Source: The Defiant

MakerDAO Founder Proposes Dedicated Blockchain and New Tokens for Defi Platform

The founder of MakerDAO has proposed an ambitious plan to introduce a dedicated blockchain and new tokens for the defi platform. The Defiant reports that the proposal aims to address scalability issues and improve the stability of the Dai stablecoin and MKR governance token. By migrating to a dedicated blockchain, MakerDAO hopes to achieve greater control over its infrastructure and enhance the platform’s overall performance, thereby ensuring a more robust and reliable defi ecosystem.

Source:The Defiant

Bacalhau Revolutionizes Distributed Computing

With the rapid expansion of datasets, efficiently processing large amounts of data has become a challenging and costly task. Bacalhau addresses this challenge through its distributed computing platform. By leveraging a peer-to-peer network, Bacalhau enables more efficient and cost-effective data processing. Users can run Docker and WASM tasks to compute data stored on IPFS and Filecoin, tapping into the vast storage capabilities of the Filecoin network. This decentralized edge computing paradigm allows computation to occur directly at the site of data storage, promising increased efficiency and innovation in data processing.

Source: Bacalhau

US Court Excludes 48,000 BlockFi Users from $297M Payout

In a recent development, a US court has excluded 48,000 BlockFi users from a $297 million payout. This decision follows a lawsuit against BlockFi for allegedly offering unregistered securities in the form of interest-earning accounts. The court’s ruling means that these users will not be eligible to receive compensation from the settlement. The exclusion of such a substantial number of users from the payout highlights the complex legal landscape surrounding cryptocurrency platforms and the potential impact on individuals involved in such cases.

Source: The Defiant

Ledger’s New Wallet Recovery Feature Sparks Community Backlash

Ledger’s introduction of a new wallet recovery feature has sparked backlash within the cryptocurrency community. The Defiant reports that concerns have been raised about the security implications of the feature, which relies on a user’s email and phone number for account recovery. Critics argue that this method introduces unnecessary risks, such as potential hacking or social engineering attacks. The community’s negative response emphasizes the importance of prioritizing robust security measures in the cryptocurrency space to safeguard users’ assets and personal information.

Source: The Defiant

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