# Пов'язані статті щодо DeFi

Центр новин HTX надає останні статті та поглиблений аналіз на тему "DeFi", що охоплює ринкові тренди, оновлення проєктів, технологічні розробки та регуляторну політику в криптоіндустрії.

Near Returns to the AI Stage: Transformation into a Public Chain Due to 'Payroll Difficulties,' Agent and Privacy Emerge as New Growth Narratives

NEAR Returns to AI Origins: From Payroll Struggles to Blockchain, Now Focusing on AI Agents and Privacy NEAR Protocol's journey began not with grand blockchain ambitions, but from a practical hurdle: its AI startup founders, including Transformer paper co-author Illia Polosukhin, couldn't efficiently pay international developers in 2017. This led them to pivot and build a high-performance, scalable blockchain. After years navigating various crypto narratives like sharding and cross-chain interoperability, NEAR is now leveraging its AI roots to re-enter the AI arena. A key driver is its "NEAR Intents" layer, which abstracts complex cross-chain transactions. Users simply state their goal (e.g., swap BTC for ETH), and a solver network finds the optimal route. This system has processed over $20B in cross-chain volume, generating significant fee revenue. A major growth area is private transactions via "Confidential Intents/Swaps," which hide trade details until settlement to protect against MEV and front-running. Remarkably, private swaps recently accounted for over 40% of NEAR's transaction volume, highlighting strong demand but also potential regulatory scrutiny. With its AI-founder pedigree, NEAR is positioning itself at the intersection of blockchain, AI agents, and privacy, aiming to become infrastructure for the emerging agent economy while navigating the challenges of its rapid adoption.

marsbit2 год тому

Near Returns to the AI Stage: Transformation into a Public Chain Due to 'Payroll Difficulties,' Agent and Privacy Emerge as New Growth Narratives

marsbit2 год тому

Breaking the Curse of DeFi Cascading Liquidations, Vitalik Proposes a New Solution

**Vitalik Buterin Proposes New DeFi Design to Eliminate Forced Liquidations** Ethereum co-founder Vitalik Buterin has published a proposal for a new decentralized finance (DeFi) architecture aimed at removing the automatic liquidation mechanisms prevalent in current lending protocols. The core idea involves creating synthetic assets using options as building blocks, fundamentally avoiding the抵押借贷结构 that triggers forced sell-offs. The proposal responds to a recurring flaw in DeFi: during sharp market downturns, mass自动清算 of under-collateralized positions can exacerbate price declines, creating systemic selling pressure and market instability, as evidenced by recent crypto market volatility. Buterin's model would split an asset like 1 ETH into two option-like derivatives, P and N, pegged to a price index with a set strike price and expiration. At expiry, an oracle determines the settlement price to allocate the underlying ETH between P and N holders. This design eliminates the "cliff" of instant liquidation. Instead, a position's value would gradually drift from its target peg if not actively rebalanced by the user, transferring the rebalancing decision from the protocol to the user or automated tools. A key advantage is the reduced reliance on high-frequency, real-time oracle price feeds, which are vulnerable to manipulation and errors in current systems. The delayed settlement in the options model allows for more robust, fault-tolerant oracle designs. However, significant challenges remain for practical adoption. High transaction costs (slippage) from frequent rebalancing on automated market makers (AMMs) could erode user funds. The model may not be suitable for stablecoins requiring a strict 1:1 dollar peg, as it inherently allows for value drift. Success would depend on developing new liquidity provisioning models and deep markets for these synthetic assets. The proposal represents a fundamental rethinking of DeFi risk management, challenging the industry to explore alternatives to被动集中平仓 rather than merely optimizing existing liquidation processes. It remains a theoretical framework awaiting implementation and testing by development teams.

foresightnews_api10 год тому

Breaking the Curse of DeFi Cascading Liquidations, Vitalik Proposes a New Solution

foresightnews_api10 год тому

Hyperliquid, Wall Street's All-Day Trading Convenience Store

**Hyperliquid: Wall Street's 24/7 Trading Convenience Store** Written by Vicky Ge Huang, Wall Street Journal. Hyperliquid, a decentralized crypto trading platform, has become a go-to venue for Wall Street traders, especially during weekends when traditional U.S. markets are closed. Operating 24/7, it allows traders to pre-position or close trades ahead of market opens, capitalizing on events like geopolitical news. The platform, founded by former Hudson River Trading quant Jeff Yan, offers perpetual contracts on a wide range of assets, including Bitcoin, the S&P 500, oil, and even pre-IPO companies like SpaceX. Its growth exemplifies the merging of traditional finance and crypto markets, attracting significant volume from professional traders seeking leverage and constant access. A key differentiator, according to Yan, is user self-custody of assets—a necessity highlighted by the FTX collapse. Despite U.S. regulatory restrictions, some American users reportedly access the platform via VPN, drawn by its ease of use, lack of stringent KYC, and strong community culture on platforms like Discord and X. The platform is not without risks. Perpetual contracts are complex and highly leveraged, leading to massive liquidations during market volatility. Hyperliquid itself saw $10 billion in liquidations during a market crash in October last year. Regulatory warnings emphasize insufficient risk disclosure for retail investors. With about 11 employees, Hyperliquid and its associated blockchain reportedly generated around $800 million in revenue last year. Its native token, HYPE, has surged over 100% since late 2024. The platform plans to expand into prediction markets and options trading, aiming to become a hub for all financial activity.

foresightnews_api10 год тому

Hyperliquid, Wall Street's All-Day Trading Convenience Store

foresightnews_api10 год тому

Breaking the DeFi Cascading Liquidation Curse: Vitalik Proposes a New Solution

Vitalik Buterin has proposed a new DeFi design to eliminate the automatic liquidation mechanism that causes market instability during sharp downturns. The current system, used by protocols like Aave, triggers forced sales when collateral value falls below a threshold, often exacerbating price drops and creating systemic selling pressure. Buterin's alternative model is based on splitting an asset like ETH into two synthetic option-like tokens, P and N, pegged to a price index. Their combined value always equals one ETH. Instead of sudden liquidation, a position's value gradually drifts from its target peg if the market moves. Users must proactively rebalance their holdings to maintain their desired exposure, transferring the management burden from the protocol to the user or automated tools. A key advantage is the reduced reliance on real-time oracles. Pricing decisions are deferred until contract expiry, allowing for more robust, fault-tolerant oracle designs. This removes a clear liquidation threshold that speculators can target for manipulation or MEV extraction. However, significant challenges remain. Frequent rebalancing could incur high slippage and transaction costs, necessitating new liquidity provider models. The design is better suited for hedging instruments than for stablecoins requiring a rigid 1:1 peg. While not an immediate replacement for existing systems, the proposal challenges the foundational assumption that instantaneous forced liquidation is an unavoidable necessity in DeFi, opening the door for fundamentally different risk management architectures.

marsbit13 год тому

Breaking the DeFi Cascading Liquidation Curse: Vitalik Proposes a New Solution

marsbit13 год тому

The End of Single-Factor Cryptography

The article "The End of Single-Factor Crypto" posits a fundamental shift in the cryptocurrency ecosystem. It argues the era where crypto asset valuations were predominantly driven by, and correlated with, Bitcoin's price is ending. The space is bifurcating into two distinct economies: endogenous and exogenous. The endogenous economy represents traditional crypto, where token and project values are directly tied to crypto market prices. The emerging exogenous economy comprises projects and businesses that may utilize blockchain technology or tokens but derive their fundamental value from external, non-crypto factors like consumer demand, subscription revenue, or real-world utility. Examples include AI inference platforms like Venice, fintech lenders using blockchain for efficiency, and stablecoin/payment infrastructure companies acquired by giants like Mastercard and Stripe. This shift means investment analysis must change. For exogenous assets, evaluating traditional business fundamentals—such as revenue streams, unit economics, and competitive moats—becomes more critical than tracking Bitcoin charts. While endogenous assets like Bitcoin remain relevant, the growth of the exogenous category is driven by measurable demand independent of crypto price cycles, paving the way for a new, more diversified market phase. Consequently, crypto is evolving from a single-factor, reflexive asset class into a multifaceted ecosystem with varied drivers and investment theses.

marsbit13 год тому

The End of Single-Factor Cryptography

marsbit13 год тому

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