The past week in the decentralized finance (DeFi) ecosystem saw many new developments, including the rebirth of the Terra 2.0 blockchain. Meanwhile, Binance’s incubation platform Binance Labs launched a $500 million fund to support and promote Web3 adoption.
Singapore’s central bank partnered with JP Morgan to explore DeFi applications in wholesale funding markets by establishing tokenized bonds. KuCoin launched its very decentralized wallet with DeFi and nonfungible token support.
The top-100 DeFi tokens showed signs of a breakout from a month-long bearish trend, with most of the tokens showing overall gains in the past seven days.
Maker founder proposes MetaDAOs and synthetic ETH in ‘Endgame Plan’
MakerDAO co-founder Rune Christensen has issued a new monumental proposal to push the project into its final form called The Endgame Plan.
Across 3,000 words, including 35 detailed infographics, Christensen explained that the current model of governance at Maker creates a deadlock, making it difficult for the protocol to effectively process “complicated real-world financial deals” and compromising its competitiveness with financial institutions.
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Binance Labs’ $500M fund to catalyze crypto, Web3 and blockchain adoption
Binance Labs, the investment arm of crypto giant Binance, launched a $500 million fund in partnership with global investors including DST Global Partners and Breyer Capital to drive innovation across the crypto, Web3 and blockchain landscape.
Binance Labs plans to allocate the latest $500 million fund to projects across various stages: incubation, early-stage and late-stage growth.
Sharing his take on accelerating the adoption of the crypto ecosystem, Binance CEO Changpeng Zhao noted the importance of a connection between values, people and economies.
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Singapore to explore digital asset tokenization on public chains
The Monetary Authority of Singapore (MAS) has launched Project Guardian, a blockchain-based digital…
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