Unizen

DeFi

<p data-ct-non-breakable="true">Welcome to Finance Redefined, your weekly dose of essential <a href="https://cointelegraph.com/learn/defi-a-comprehensive-guide-to-decentralized-finance">decentralized finance (DeFi)</a> insights — a newsletter crafted to bring you the most significant developments from the past week.</p>
<p>The DeFi ecosystem continues to see bullish price action as its total value locked (TVL) breached $100 billion for the first time in over two years, MakerDAO is gearing up for its stablecoin “Endgame” scalability transformation, Ethena becomes the highest-earning decentralized app (DApp), and DeFi platform Unizen will reimburse its users after suffering a multimillion-dollar hack.</p>
<p>In other news, BNB Chain has announced its new rollup-as-a-service solution for layer-2 networks.</p>
<h2 data-ct-non-breakable="true" id="maker-s-endgame-launch-aims-for-100-billion-dai-to-take-on-tether">Maker’s “Endgame” launch aims for 100 billion DAI to take on Tether</h2>
<p data-ct-non-breakable="true">Decentralized finance protocol MakerDAO is preparing for the launch of its highly anticipated “Endgame” transformation that will focus the platform “toward scalable resilience and sustainable user growth,” according to co-founder Rune Christensen.</p>
<p>In March 12 posts on social media platform X and the MakerDAO forum, Christensen proclaimed it was “launch season” for the DeFi lending protocol’s five-phase plan, with the mid-2024 slated Phase 1 involving hiring an external marketing firm to rebrand the entire operation into something less complicated and more fun.</p>
<p>The aim of Endgame is to scale the protocol’s Dai (<a href="https://cointelegraph.com/dai-price-index">DAI</a>) stablecoin from a $4.5 billion market capitalization to “$100 billion and beyond” in a bid to rival Tether (<a href="https://cointelegraph.com/tether-price-index">USDT</a>).</p>
<p data-ct-non-breakable="true"><a href="https://cointelegraph.com/news/makerdao-endgame-to-launch-aims-for-100-billion-dai-rival-tether"><strong>Continue reading</strong></a></p>
<h2 data-ct-non-breakable="true" id="defi-protocol-unizen-to-provide-immediate-reimbursement-after-2-1-million-hack">DeFi protocol Unizen to provide “immediate reimbursement” after $2.1 million hack</h2>
<p data-ct-non-breakable="true">DeFi protocol Unizen announced that it would reimburse its users who lost $750,000 or less “as soon as humanly possible” after the platform was compromised, which led to the loss of about $2.1 million in user funds.</p>
<p>On March 9, blockchain analytics firm PeckShield flagged an “approve issue” with the DeFi platform, reporting that over $2 million had already been drained. </p>
<p>The security firm urged users to revoke the approvals from the trade aggregator to avoid further loss. Security company SlowMist estimated the exploit losses to be around $2.1 million and noted that the attacker swapped USDT for DAI.</p>
<h2 data-ct-non-breakable="true" id="ethena-becomes-the-highest-earning-dapp-in-crypto">Ethena becomes the highest-earning DApp in crypto</h2>
<p data-ct-non-breakable="true">Ethena has become the highest-earning DApp after breaching $6.8 million in daily cumulative revenue over the past week, according to a March 8 X post by Seraphim Czecker, head of growth at Ethena Labs.</p>
<p>The only blockchains surpassing Ethena’s revenue were Tron, at $38.6 million, and Ethereum, at $182.5 million daily cumulative revenue over the past seven days.</p>
<p data-ct-non-breakable="true"><a href="https://cointelegraph.com/news/ethena-highest-earning-dapp-crypto"><strong>Continue reading</strong></a></p>
<h2 data-ct-non-breakable="true" id="bnb-chain-to-expand-layer-2-ecosystem-with-new-rollup-service">BNB Chain to expand layer-2 ecosystem with new rollup service</h2>
<p data-ct-non-breakable="true">BNB Chain, the ecosystem powered by the BNB (<a href="https://cointelegraph.com/binance-coin-price-index">BNB</a>) token, has unveiled a rollup service solution for building layer-2 blockchains on its network. </p>
<p>On March 14, BNB Chain announced its rollup-as-a-service, or RaaS, solution to help projects build layer-2 networks on BNB Chain. The service will give projects access to the tech infrastructure required to deploy layer-2 networks on the blockchain, expanding BNB Chain’s ecosystem.</p>
<p data-ct-non-breakable="true"><a href="https://cointelegraph.com/news/bnb-chain-rollup-layer-2-ecosystem"><strong>Continue reading</strong></a></p>
<h2 data-ct-non-breakable="true" id="defi-market-overview">DeFi market overview</h2>
<p data-ct-non-breakable="true">Data from <a href="https://pro.cointelegraph.com/users/sign_in?">Cointelegraph Markets Pro</a> and TradingView shows that DeFi’s top 100 tokens by market capitalization had a bullish week, with most trading in the green on the weekly charts. The TVL in DeFi protocols crossed $110 billion for the first time in over two years.</p>
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<p data-ct-non-breakable="true">Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.</p>

DeFi TVL breaches $100B, MakerDAO readies DAI ‘Endgame:’ Finance Redefined

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