Despite the slump in cryptocurrency prices, the number of firms raising in the decentralized finance (DeFi) market has continued to pick up. Lending protocol Goldfinch offers the latest example. The project announced Wednesday the completion of a $11 million fundraise led by venture capital investment giant a16z. The firm, which has grown by 2.5x over the last few months, provides borrowers the ability to take out an under-collateralized loan — a unique offering in a market where borrowers typically have to post more collateral than they want to borrow. I'm not used to dealing with this many zeros," said Mike Hall, a former Coinbase product analysis. Hall co-founded Goldfinch with Blake West, who also spent some time at Coinbase as a backend engineer. While the DeFi market has typically been associated with rogue bands of retail traders, Goldfinch is wooing an array of institutions to help build out its platform. The three-sided market is made up of borrowers looking for capital, liquidity providers, and backers of the loans. It's being examined by credit funds managing billions that are looking to lend and financial technology firms that are looking to borrow.Source

Decentralized finance service B.Protocol has announced plans for a new version that will improve the liquidation of undercollateralized loan positions on lending platforms.
In a release issued on Tuesday, the backstop liquidity protocol for DeFi lending platforms revealed that the upcoming v2 is based on a white paper for a novel Backstop automated market maker (B.AMM) written by a couple of anonymous community members. According to a blog post published by B.Protocol founder Yaron Velner the v1 design that utilized professional liquidators to share profits with users instead of miners was not sufficient to tackle the capital inefficiency problem. Unlike centralized exchanges like Binance that offer leveraged trading up to 100 times user deposits, the leverage ratio on decentralized exchanges (DEX) rarely exceeds five times. This significantly lower leverage limit is despite the massive liquidity pool available to DEX platforms.Source

Solanax aims to revolutionize the world of decentralized Finance by providing the fastest, cheapest decentralized exchange which will operate without any third-party extensions.Solanax even has its very own token called SOLD. It currently has a supply of 80,000,000.
Liquidity providers are rewarded on Solanax for providing liquidity to low-volume assets. Decentralized Finance has become pretty popular since last year. We have seen millions of DApps being launched to the Ethereum and Binance Smart Blockchain. DeFi is famous worldwide because of the financial tools it provides. Apart from borrowing and lending services, DeFi freely allows users to trade cryptocurrencies and even perform yield farming. Due to its accessibility and convenience, DeFi has a large user base. Solanax, a brand new decentralized blockchain-based automated market maker, has been launched. Solanax is entirely built on the Solana protocol.Source

Uniswap is the world’s premier decentralized exchange and liquidity provision service, relying on an orderbook-less trading mechanism through liquidity pools. Since it’s introduction, it has facilitated billions in trading volume through it’s three iterations or version updates. It also constantly ranks as a leading revenue generating DeFi protocol, second only to the Ethereum base layer itself. Here’s how to overtake it and the description of the one trick that most DeFi projects miss.
@SovrynBTC continues to rise through the ranks of DeFi projects. Currently ranked 14'th by TVL on @DefiLlama with $1.9B. Just above Uniswap V3. #Bitcoin DeFi isn't coming. It's here. pic.twitter.com/F7PqzE9Lk6 Yago (@EdanYago) June 9, 2021 Sovryn – a RSK side-chain based project with EVM compatibility recently discovered this trick, after the team claimed that they had overtaken the Total Value Locked (TVL) in Uniswap v3. The claim was viewed with skepticism / disbelief as the project is still new, relatively unknown and has no prior record of competing with Uniswap on any level.Source

InstaDApp, a startup aiming to build what it calls the "middleware" layer for the decentralized finance (DeFi) space, has raised $10 million in new funding. The $10 million round, which involved the sale of tokens, was led by Standard Crypto. The pool of investors included the DeFi Alliance, Longhash Ventures, along with developer and Yearn founder Andre Cronje. The funding news comes more than a year and a half after InstaDApp raised a $2.4 million seed round from a group that included Coinbase Ventures, Naval Ravikant and Pantera Capital. In an email, co-founder Sowmay Jain told The Block that the funding will be used to "complete our transition into the middleware layer for DeFi and support the ecosystem project building on top of Instadapp Protocol." InstaDApp is also gearing up for the launch of its in-house governance token, INST, which was detailed in an April blog post.
At launch, the core team will be handing over the management of the protocol to the DAO. We believe it is crucial that we allow the community to self-govern, and the team will focus on building essential extensions and growing the protocol ecosystem," the team said at the time."
The team told The Block that it is aiming for the end of June to launch the governance token.Source

Unmarshal, a Multi-chain DeFi data network that describes itself as a protocol delivering granular, reliable & real-time data to dApps recently released a product suite for the Polygon blockchain comprising API suite, notification data and WebSockets. With this suite, dApp developers building on Polygon can now deploy Unmarshal’s Notification API giving off at-a-glance notifications for the app they build to their users, Wallet Balance API to help track user token balances and Transaction API for decoding transaction details. Top DeFi solutions ranging from dapps like Aave, a money market protocol with its own AMM, infrastructure solutions like wallets and industry top decentralised oracles and dev tooling resources are already leveraging Polygon, making it the go-to L2 solution as of today. Polygon comfortably facilitates more than six million transactions per day, by far the highest throughput of any L2 solution out there and also rivalling any Layer 1 chain that currently exists. To onboard more DeFi solutions requiring massive on-chain data to function optimally, it has partnered with Unmarshal, a multi-chain DeFi data network consisting of data indexers and querying tools for dapp developers to fetch data from its growing network.Source

Today, decentralized exchange and liquidity aggregator 1inch announce the launch of the 1inch Limit Order Protocol. The new feature boasts 5 different security audits, and will enable users to buy or sell assets at specific price targets on Ethereum, BSC, and Polygon. The new feature will also be able to interact with smart contract logic, and be able to execute orders based on oracle data. Limit orders were previously available to the DeFi ecosystem through a variety of protocols including Gelato and 0x, the latter which 1inch utilized. However, the team claims this new protocol will be more gas-efficient and secure in that it does not require admin keys, and that the protocol will add additional value to the ecosystem via composability with other protocols, such as Uniswap v3. While the Protocol immediately adds to the functionality of the 1inch exchange, there are multiple possible use cases that external teams have been invited to explore.Source

A new release from a foundational DeFi protocol seeks to combine two popular asset swap models into a hybrid that may reshape the nature of the automated market maker (AMM) space — a DeFi primitive currently accounting for well over $40 billion in total value locked, per DeFiLlama.
Earlier today Curve Finance announced the launch of a new “algorithm for exchanging volatile assets.” Curve’s base functionality is designed to enable low-slippage swaps between similar assets, such as one type of stablecoin to another — USDC to DAI, etc — by concentrating liquidity on a bonding curve weighted towards a particular price.Source