Criptor

ZKsync, the Ethereum Layer 2 leveraging zero-knowledge proofs, has revealed an updated tokenomics proposal for its native token ZK, which would shift it from a pure governance token to a utility token.According to a press release shared with The Defiant, the proposal will see value accrue to the ZK token via its on-chain interoperability fees, and offchain enterprise licensing income. These revenue sources will fund staking rewards, ecosystem funding, and a buyback and burn mechanism.The move ad...

The Defiant

7 hours ago

Crypto markets quickly rebounded on Friday after Thursday’s sharp sell-off as traders digest a cautiously optimistic outcome from the Trump-Xi meeting in Busan.After Bitcoin (BTC) briefly dipped below $107,000 during the session, it recovered Friday morning to trade just above $110,000 at press time, up 2.7% on the day. Ethereum (ETH) is also up about 2.5% on the day, trading near $3,870, down almost 10% on the month.BNB (BNB) saw the smallest 24-hour gains among large-caps, up just 0.1%. Others...

The Defiant

4 days ago

Maple Finance, a decentralized finance lending protocol operating on Solana and Ethereum, is set to sunset SYRUP staking rewards just under a year after the token’s launch. Staked SYRUP (stSYRUP) voted in favor of the move, first proposed in a Maple Improvement Proposal (MIP) on Oct. 24.Voting on MIP-019, which began on Oct. 27, closed on Oct. 31, with over 99% of participating voting power in favor of the move. A total of 26 wallets participated in the vote, with 30% of voting power coming from...

The Defiant

4 days ago

Ethena Labs’ synthetic dollar-pegged token Ethena USDe (USDE) has lost over $5 billion of its market capitalization since the Oct. 10 market crash, after the asset experienced a major stress test. Before the “Black Friday” flash crash — which wiped out over $19 billion in leveraged positions across the market, becoming the largest liquidation event in crypto to date — USDE’s market cap stood above $14.6 billion.Ethen USDe's market cap fell sharply by about $2 billion on Oct. 10-11 as investors r...

The Defiant

1 day ago

Veteran decentralized exchange (DEX) Balancer v2 suffered a major hack on Monday, losing over $128 million and raising questions about whether users can trust even long-established, audited decentralized finance (DeFi) platforms.On-chain data showed roughly $128 million in digital assets sent to the hacker’s wallet across multiple blockchains, including 6,587 WETH (~$24.5 million), 6,851 osETH (~$26.9 million), and 4,260 wstETH (~$19.3 million), according to PeckShield. This marks Balancer’s lar...

The Defiant

1 day ago

October marked the prediction market sector’s best month yet, with leading platforms Kalshi and Polymarket processing a cumulative $7.4 billion in volume, well above their previous record in November 2024, when they processed a total of $4 billion driven by the U.S. Presidential election.While election markets —primarily the NYC Mayoral Election —are still generating hundreds of millions in volume, other niches, such as sports betting, are boosting volume metrics further. In October, Kalshi proc...

The Defiant

1 day ago

The crypto selloff continued on Tuesday, with major assets extending losses amid growing uncertainty over U.S. trade policy.Bitcoin (BTC) is trading at around $101,000, down nearly 6% over 24 hours and 12% on the week. Ethereum (ETH) dropped 7.5% to $3,376, bringing its weekly losses to nearly 18%....

The Defiant

5 hours ago