The story of Tornado Cash left a void, says Chainalysis chief scientist: Redefining finance

Welcome to Finance Redefined. This is a weekly newsletter that provides key insights on Decentralized Finance (DeFi) and was created to bring you the important developments of the past week.

The Chainalysis chief scientist shared his take on the Tornado Cash case, saying the case left a vacuum for illegal money-mixing services, but that the real impact of sanctions may be determined long-term. rice field.

Post-merge Ethereum’s staking ecosystem could have a major impact on the crypto economy, according to a new report. Institutional lending platform Mapple Finance has launched his $300 million loan pool for Bitcoin mining farms.

Decentralized autonomous organization Tribe DAO has voted in favor of repaying users affected by the $80 million exploit in DeFi platform Rari Capital’s liquidity pool. We have launched a new community-driven security initiative called

The top 100 DeFi tokens by market cap saw many tokens trading in red and a few others showing weekly gains.

Tornado Cash left a void, time will tell what fills it — Chief Scientist at Chainalysis

According to Chainalysis’s chief scientist, sanctions on cryptocurrency mixer Tornado Cash have made illegal money-mixing services unavailable, but it will take more time before the full impact is known.

During a demo of Chainalysis’s recently launched blockchain analytics platform Storyline, Cointelegraph asked Chainalysis Chief Scientist Jacob Illum and Australia and New Zealand Country Manager Todd Lenfield about the impact of the Tornado Cash ban. .

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Tribe DAO voted to pay back $80 million to victims of Rari hack

After months of uncertainty, the Tribe DAO has voted to pay back users affected by an $80 million exploit in the liquidity pool of DeFi platform Rari Capital.

After several votes and governance proposals, the Tribe DAO, consisting of Midas Capital, Rari Capital, Fei Protocol and Volt Protocol, will vote on Sunday with the aim of giving full refunds to hacking victims. decided.

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Staking Providers May Expand Institutional Presence in Crypto Space: Report

The Ethereum blockchain’s carbon footprint is expected to drop by 99% following last week’s merge event. The upgrade could also have a significant impact on the crypto economy by positioning staking as a service for individual and institutional investors, according to a Bitwise report on Tuesday.

Analysts at JP Morgan said the company expects a potential return of 4% to 8% for long-term investors through staking of Ether (ETH), while analysts at JP Morgan said the staking yield across the PoS blockchain is expected to rise. could double to $40 billion by 2025.

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Maple Finance Launches $300M Loan Pool for Bitcoin Mining Companies

On September 20th, Maple Finance, an institutional crypto lending protocol, and its representative, Icebreaker Finance, will offer secured loans worth up to $300 million to public and private Bitcoin mining companies. announced. Eligible entities that meet the criteria for financial management and power strategies not only in Australia but throughout North America can apply for funding.

Meanwhile, the venture aims to provide investors and capital allocators with a risk-adjusted return of less than 10 percent (up to 13% annually). Pools are open only to accredited investors who meet substantial income and/or net worth qualifications within their jurisdiction.

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BNB Chain launches new community-run security mechanism to protect users

Binance’s native blockchain, BNB Chain, has launched AvengerDAO. This is a new community-driven security initiative that helps protect users from fraud, malicious actors, and potential exploits.

Security-centric DAO was developed in collaboration with leading security companies and popular crypto projects such as Certik, TrustWallet, PancakeSwap and Opera.

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DeFi market overview

Analytical data shows that the total value of DeFi locked has dropped slightly from last week. TVL’s value was around $50.64 billion at the time of writing. Cointelegraph Markets Pro and TradingView data show a mixed week for DeFi’s top 100 tokens by market cap, with many recovering towards the end of the week and several others trading in the red on weekly charts. I was.

Compounds (COMP) posted the biggest gains, up 15% over the past seven days, followed by pancake swaps (CAKE), up 8.8%. Theta Network (THETA) is another token in the top 100, registering a 5% weekly gain.

Thanks for reading this week’s overview of the most influential DeFi developments. Join us next Friday for more stories, insights and education in this dynamically advancing space.