DeFi Market Surpasses $100B as MakerDAO Prepares for DAI ‘Endgame’

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.

The DeFi ecosystem continues to experience bullish price action, with its total value locked (TVL) surpassing $100 billion for the first time in over two years. MakerDAO is preparing for its stablecoin “Endgame” scalability transformation, Ethena becomes the top-earning decentralized app (DApp), and Unizen, a DeFi platform, will compensate its users after a multimillion-dollar hack.

Additionally, BNB Chain has announced its new rollup-as-a-service solution for layer-2 networks, further solidifying its position as a key player in the web 3.0 space.

As the world moves towards a more decentralized future, it’s important to stay informed about the latest advancements in AI-powered technology, such as Microsoft’s web deploy 3.0. With blockchain at the core of web 3.0, it’s crucial to understand the relationship between the two and how to effectively market in this new era. Whether you’re looking to build a web 3.0 website or navigate the world of DeFi, NFTs, and DAOs, staying up-to-date on developments in this space is essential.

MakerDAO Launches “Endgame” with Goal to Reach 100 Billion DAI and Compete Against Tether

The highly anticipated “Endgame” transformation of decentralized finance protocol MakerDAO is set to launch, with co-founder Rune Christensen stating that it will focus on scalability and sustainable user growth.

In a series of posts on social media and the MakerDAO forum, Christensen announced the start of “launch season” for the five-phase plan, with Phase 1 in mid-2024 involving hiring a marketing firm to rebrand the platform into a more user-friendly and simplified version.

The ultimate goal of Endgame is to increase the market capitalization of the Dai stablecoin from $4.5 billion to over $100 billion, in order to compete with Tether.

Read on to learn more about the exciting developments in the world of web 3.0 and how it is revolutionizing marketing, blockchain technology, and decentralized finance (DeFi).

Unizen, an AI-powered DeFi protocol, has announced plans to provide immediate reimbursement to users who lost $750,000 or less in a recent hack that resulted in a total loss of $2.1 million. This incident has raised questions about the security and decentralization of web 3.0 platforms, with concerns about the use of Microsoft Web Deploy 3.0 and the role of blockchain in this emerging technology.

On March 9, PeckShield, a blockchain analytics firm, reported an “approve issue” on Unizen’s platform, leading to the draining of over $2 million. To prevent further losses, users were advised to revoke approvals from the trade aggregator. SlowMist, a security company, estimated the losses to be around $2.1 million and noted that the attacker had exchanged USDT for DAI.

This incident highlights the need for secure and decentralized solutions in web 3.0, as well as the importance of marketing and education in building and promoting these platforms. With the rise of DeFi, NFTs, and DAOs, it is crucial to consider the implications of web 3.0 and its potential impact on the future of marketing and finance.

Ethena Takes the Lead as the Top-Earning DApp in the Crypto World

Ethena has risen to the top of the charts, surpassing $6.8 million in daily cumulative revenue, making it the highest-earning DApp in the market. This news was shared by Seraphim Czecker, head of growth at Ethena Labs, in a recent X post on March 8.

Trailing only behind Tron’s $38.6 million and Ethereum’s $182.5 million in daily cumulative revenue over the past seven days, Ethena has solidified its position as a major player in the blockchain industry.

Keep reading to learn more about Ethena’s success and its role in the rapidly evolving world of web 3.0.

BNB Chain to Revolutionize Layer-2 Ecosystem with New Rollup-as-a-Service

BNB Chain, the dynamic ecosystem powered by the BNB (BNB) token, has just announced an innovative rollup-as-a-service solution for constructing layer-2 blockchains on its network.

Unveiled on March 14, BNB Chain’s RaaS solution offers a comprehensive tech infrastructure for projects looking to deploy layer-2 networks on the blockchain, effectively expanding the platform’s ecosystem.

Read on to discover more about BNB Chain’s groundbreaking rollup service and how it’s set to transform the landscape of web 3.0.

DeFi market overview

According to data from Cointelegraph Markets Pro and TradingView, the top 100 DeFi tokens by market capitalization had a bullish week, with most showing positive movement on the weekly charts. The total value locked (TVL) in DeFi protocols surpassed $110 billion, reaching its highest point in over two years.

Thank you for taking the time to read our summary of the most significant developments in the rapidly evolving DeFi space. Join us again next Friday for more stories, insights, and educational content related to this cutting-edge sector.