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Pirate Weekly Meeting

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IDEX’s ‘hybrid liquidity pool’ aims to tackle some of DeFi’s biggest problems

DeFi’s tremendous growth hasn’t come without obstacles; the nascent industry still struggles with high costs, failed trades and front-running.

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IDEX, a San Francisco-based decentralized exchange, has unveiled new protocol upgrades designed to solve two of the biggest issues with DeFi — slippage and front-running. 

The exchange claims that its Hybrid Liquidity protocol solves these challenges by combining an order book and trading engine with the liquidity pools of an automated market maker, or AMM.

“The novel exchange design protects users from the most glaring pitfalls of AMMs, including failed trades and front-running, by instantly executing trades against the best combination of limit orders and pooled liquidity,” the company said, adding:

“This approach generates higher returns for liquidity providers while also allowing for more advanced trades like stop-loss and limit orders.”

IDEX cites research from Dune Analytics showing that up to 5% of transactions on Ethereum-based decentralized exchanges fail due to complications like “too much slippage or insufficient gas prices.” Data from Etherscan and Dune Analytics also show that roughly 22% of Uniswap transactions between Apr. 15-21 failed.

Uniswap is the second-largest decentralized exchange by trading volume, according to Coingecko. Mdex takes the top spot, based on 24-hour transactions as of Thursday.

DeFi, which stands for decentralized finance, is one of the biggest trends in the cryptocurrency market, but the industry’s rapid growth over the past 12 months hasn’t come without complications. Exorbitant costs, smart contract risks and the higher likelihood of user error are just some of the biggest pain-points dragging on adoption. Security is also an issue, as evidenced by the theft and exploitation of hundreds of millions of dollars worth of DeFi assets.

Nevertheless, DeFi remains on track to grow considerably during the next leg of the bull market. Currently, more than $137 billion has been locked into the ecosystem, according to industry data.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/idex-s-hybrid-liquidity-pool-aims-to-tackle-some-of-defi-s-biggest-problems

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Crypto Firm Coin Metrics Raises $15 Million Led by Goldman Sachs

Crypto analytics firm Coin Metrics has raised $15 million in funding led by investment bank Goldman Sachs for the company’s global expansion.

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Crypto analytics firm Coin Metrics has raised $15 million in funding led by investment bank Goldman Sachs. Founded in 2017, the firm is planning to use the funding proceeds to grow in Europe and Asia, creating new products while expanding its current offerings.

Coin Metrics Raised $15 Million Led by Goldman Sachs

Coin Metrics, a crypto data provider to institutional clients, has raised $15 million through investors led by Goldman Sachs Group, according to an announcement from the company. The Series B financing will be used to expand on the company’s global expansion.

Coin Metrics provides cryptocurrency market data, feeds, indices, and network risk solutions with clients such as Fidelity Investments, Osprey Funds, and BlockFi.

READ  Goldman Sachs CEO Sees ‘Big Evolution’ Coming to Crypto Space

BlockFi, Acrew Ventures, Morningside Group, and Warburg Serres Investments also participated in the funding round.  While Castle Island Ventures, Highland Capital Partners, Fidelity Investments, Avon Ventures, Communitas Capital, and Collab+Currency each contributed to their respective stakes in the company.

The managing director at Goldman Sachs, Mathew McDermott, will be serving on Coin Metrics’ board of directors.

“Data is critical for the mainstream adoption of crypto assets by traditional investors and financial services players. Our clients will greatly benefit from Coin Metrics’ institutional-grade data insights and emerging risk management tools,” he adds.

Goldman Sachs Shows Interest in Bitcoin

Goldman Sachs has been showing an increased interest in Bitcoin this year. In mid-March, the investment bank filed with the U.S. Securities and Exchange Commission for launching a Bitcoin exchange-traded fund (ETF). Besides, a month later, it announced that it would soon offer bitcoin investment vehicles to its clients.

READ  Facebook Aims to Hire People in Ireland for Libra Project

On leading Coin Metric’s investment round, Marianna Lopert-Schaye, firmwide strategy at Goldman Sachs, said:

“We are excited to be leading their (Coin Metrics) Series B, thereby enabling their growth and supporting their mission to be the leading provider of data-driven market insights and intelligence for institutions in crypto.”

#Coin Metrics #Goldman Sachs #Series B Funding Round

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/crypto-firm-coin-metrics-raises-15-million-led-by-goldman-sachs

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Bitcoin, Polkadot, Bitcoin Cash Price Analysis: 06 May

Many of the market’s altcoins like Polkadot and Bitcoin Cash, at press time, were refusing to follow Bitcoin’s lead to trade sideways and consolidate on the charts. With ETH climbing to a new ATH and

The post Bitcoin, Polkadot, Bitcoin Cash Price Analysis: 06 May appeared first on AMBCrypto.

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Many of the market’s altcoins like Polkadot and Bitcoin Cash, at press time, were refusing to follow Bitcoin’s lead to trade sideways and consolidate on the charts. With ETH climbing to a new ATH and the altseason well and truly in flow after BTC’s market dominance fell again, such contrarian price actions are likely to be even more frequent in the short term.

Bitcoin [BTC]

Source: BTC/USD on TradingView

While the rest of the market has surged in the time being, Bitcoin, the world’s largest cryptocurrency, has traded within a $10,000-channel range for the past two months. While the king coin did register an ATH of close to $65k back in April, at the time of writing, it was well below the same, valued at just under $59,000.

The king coin’s on-chain metrics and trading volumes have remained healthy, however, with many in the community expecting greater highs from the crypto once BTC breaches the aforementioned range.

While the mouth of Bollinger Bands was closing in to suggest that price volatility may fall soon, Chaikin Money Flow registered an uptick that saw it move above zero.

The cryptocurrency was in the news a few days ago after Tesla sold some of its Bitcoin holdings to prove its liquidity, a move that fueled quite a stir in the community.

Polkadot [DOT]

Source: DOT/USD on TradingView

At the time of writing, Polkadot was ranked 8th on CoinMarketCap’s charts, with its position on the same superseded by the performances of other alts such as Cardano and Dogecoin over the past few months. Unlike Bitcoin, DOT has been on an uptrend somewhat since the market-wide depreciation event over the 24th and 25th of April. In fact, the last 7 days saw DOT climb by 19%.

Parabolic SAR’s dotted markers were observed to be under the price candles, a sign of the bullishness prevailing in the DOT market. Something similar was pictured by Awesome Oscillator’s histogram, with the same expected to head above the half-line soon.

As highlighted by a recent analysis, if the present breakout continues, the next targets for DOT would lie at the $40 and $42-levels.

Bitcoin Cash [BCH]

Source: BCH/USD on TradingView

Until a few days ago, Bitcoin Cash’s price action was destined to mimic BTC’s. This changed recently, however, with the fork coin surging by almost $500 in a 24-hour window. On the back of the said hike, BCH also climbed to touch levels unseen this year.

At the time of writing, corrections had started to set in despite an uptick in trading volumes being seen.

While the MACD line registered a sharp divergence from the Signal line on the charts, Relative Strength Index was dipping towards the equilibrium zone after a brief foray into the overbought zone.

As was the case last time, right now, it’s still difficult to ascertain if the crypto will be able to sustain its press time price action.


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Source: https://ambcrypto.com/bitcoin-polkadot-bitcoin-cash-price-analysis-06-may

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ConsenSys exec joins CoinFund to assist early-stage blockchain firms

“My team will serve as partners who support and guide founders and their teams during their journeys from early-stage to growth-at-scale,” said Vanessa Grellet.

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Vanessa Grellet, a five-year veteran of Ethereum software company ConsenSys, will be joining crypto investment group CoinFund as its new head of portfolio growth.

In an announcement from CoinFund today, the investment group said Grellet would be responsible for guiding its portfolio of more than 50 companies and projects. The new head of portfolio growth will be aiming to “bridge the gap between the worlds of traditional companies and decentralized networks” by forming alliances between blockchain projects and protocols.

“My team will serve as partners who support and guide founders and their teams during their journeys from early-stage to growth-at-scale,” said Grellet. “The firm’s investment in our Portfolio Growth team […] demonstrates our dedication to meeting the needs of early-stage companies as well as our long-term commitment to the blockchain industry.”

CoinFund has invested in many popular projects in the crypto space. In September, the firm backed non-fungible token-based digital art marketplace Rarible, after which its governance token doubled in price. The investment group was also behind funding for Delta Exchange’s expansion into Indian markets last May.

A financial analyst and lawyer, Grellet previously worked as a corporate strategy executive at the New York Stock Exchange. She currently sits on the boards of the Arts and Antiquities Blockchain Consortium and the Accounting Blockchain Coalition and is the president of Blockchain for Social Impact Coalition.

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Source: https://cointelegraph.com/news/consensys-exec-joins-coinfund-to-assist-early-stage-blockchain-firms

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