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Stablecoins Surpass $111B in Aggregate Value, Now Making up 7.7% of Total Digital Assets Market: Report
Spencer Noon, an investor in
Variant, a first-check cryptocurrency venture capital fund, has released their latest Network report, which covers stablecoins and Instadapp.
Spencer Noon notes in their weekly update that The Graph recently launched 43 RFPs for different ecosystem initiatives. You may submit an application today in order to potentially receive a grant. As noted in the report, the Aave community has allocated $1 million per quarter to
Aave Grants DAO. The program currently live to applicants.
In other DeFi news, Yield Protocol is currently hiring for a
News
A team has released WETH10, the latest iteration of the Wrapped Ether token that allows using Ether (ETH) in a DeFi setting. WETH10 carries a host of useful features, the most notable of which is the flash mint, an evolution of the flash loan concept.
Flash loans allow users to borrow the entire liquidity pool of a protocol to use as they see fit, without posting collateral. The only limitation is that the loan must be returned in full within the same transaction, otherwise the loan will never exist in the first place.
In the DeFi community, flash loans are primarily a tool for arbitrage, as they offer an unlimited source of funds for anyone transacting entirely within the DeFi ecosystem. This includes liquidation bots, with one lucky liquidator making $4 million from scratch in November by using flash loans. Another class of flash loan users are hackers and protocol exploiters, who often use them as a source of funds for their attacks.
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CoinSwitch Kuber raises $15 million in Series A 13 January 2021
Source: CoinSwitch Kuber CoinSwitch Kuber, India’s fastest growing cryptocurrency investment platform announced that it has closed $15 million (Rs. 109 Cr.) in its Series A funding. The round is led by leading global fintech and crypto investor Ribbit Capital, and San-Francisco based crypto focused investment firm, Paradigm. The deal brings together two leading global investors in support of the CoinSwitch Kuber team and what they have managed to achieve in the space in a very short time. The company will use the funds to enhance product, security, compliance and tech capabilities, and build a formidable brand with a view to be the leading cryptocurrency investment platform for Indian users. The round also saw participati