{"id":205310,"date":"2021-03-18T16:33:29","date_gmt":"2021-03-18T13:33:29","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/finance-redefined-the-crypto-renaissance-is-finally-here-march-3-17\/"},"modified":"2021-03-18T16:33:29","modified_gmt":"2021-03-18T13:33:29","slug":"finance-redefined-the-crypto-renaissance-is-finally-here-march-3-17","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/finance-redefined-the-crypto-renaissance-is-finally-here-march-3-17\/","title":{"rendered":"# Finance Redefined: The crypto renaissance is finally here, March 3\u201317"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3b0dbf72950\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3b0dbf72950\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-the-crypto-renaissance-is-finally-here-march-3-17\/#Editors_note\" >Editor&#8217;s note<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-the-crypto-renaissance-is-finally-here-march-3-17\/#New_DeFi_building_blocks_keep_coming\" >New DeFi building blocks keep coming<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-the-crypto-renaissance-is-finally-here-march-3-17\/#In_other_news\" >In other news<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Finance Redefined: The crypto renaissance is finally here, March 3\u201317 <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvNzhhNGY2MWMtMGVlMC00Y2E4LTg5YzctZWQzM2FkNDRjMmRkLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>\n<h2><span class=\"ez-toc-section\" id=\"Editors_note\"><\/span>Editor&#8217;s note<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>After taking a bit of a break and skipping a week for the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter, I\u2019ve returned with the feeling that something big is brewing for the crypto space.<\/p>\n<p>To people who follow me on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> or here, it is probably no secret that I believe the fate of the crypto market is strongly tied to that of the tech sector and stock market as a whole. After showing really strong signs of a pending crash, it seems that markets are well on their way to a recovery. If you look at the S&amp;P 500, it\u2019s actually been making new highs last week. The actual source of the uncertainty was the Nasdaq 100, the tech-heavy index, which is now making a solid recovery as well.<\/p>\n<p>A favorable stock market environment is key to maintaining the crypto bull run. We obviously don\u2019t know how long all this will last, but it seems that the initial panic subsided and likely won\u2019t return for at least a month or two. As always, not financial advice and I may very well be wrong.<\/p>\n<p>The stock market recovery has of course been reflected in the crypto markets as well. Over these past few weeks, I\u2019ve realized just how far crypto has come in popular perception. NFTs have a lot to do with that reputation improvement, although I can\u2019t imagine it being the only demand driver like with 2017 ICOs. <\/p>\n<p><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">Technology<\/a> advances are setting us up nicely for an explosive rest of the year. Between Ethereum layer-two, Polkadot\u2019s parachains and Cosmos\u2019s Stargate all coming online now or in the near future, we should have plenty of bandwidth to let developers build exciting new crypto primitives.<\/p>\n<p>We\u2019re still in very, very early stages of DeFi and crypto adoption. All we\u2019ve seen so far is a lot of Ponzi <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a>s with maybe a few small nuggets of something real. The Ponzi games have definitely served well to develop the infrastructure and attract a lot of money, but I\u2019m mostly excited about what\u2019s to come. My hope is that we\u2019re not far off from that promise.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/p>\n<h2><span class=\"ez-toc-section\" id=\"New_DeFi_building_blocks_keep_coming\"><\/span>New DeFi building blocks keep coming<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>I wanted to highlight a couple of really interesting new projects in DeFi these past two weeks. The first is WETH10, a new wr<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>er for Ether. As you may know, all DeFi projects use a tokenized form of Ethereum in the backend. WETH assimilates Ethereum itself, which is not a token, to the ERC-20 standard. This lets smart contracts perform actions on it.<\/p>\n<p>The new WETH10 iteration upgrades ETH with all the bells and whistles of more recent token standards, allowing things like gasless transactions and the transferAndCall function, a way to get rid of the cumbersome and unsafe token approval mechanic.<\/p>\n<p>The most important feature, however, is the Flash Mint. It\u2019s exactly like a flash loan, only it creates new tokens out of thin air instead of drawing them from a liquidity pool. There are practically no limits to how much you can create, making arbitrage strategies even more effective and cheaper. Of course, this also means simplifying hacks and exploits, but here we come back to the age old argument of \u201cflash loans good\u201d vs. \u201cflash loans bad.\u201d I\u2019m firmly of the former stance, since a protocol would\u2019ve still been weak to exploits even without help from flash loans.<\/p>\n<p>Another exciting new primitive is Alchemix, a protocol that lets you draw a loan backed by your future yield. You can basically speed up your yield income and get most of it right away, which could be incredibly useful if you have a large expense coming up.<\/p>\n<p>To be fair, Alchemix\u2019s concept could have already been reproduced with a platform like Cream Finance. It supports yCRV or yETH, interest-bearing tokens by Curve and Yearn.finance, respectively. Just deposit those tokens, draw Dai or another stablecoin, and repay the loan over time from your yield. But Alchemix does expand this concept and, most importantly, automates it. From a niche and little-known trick, this \u201cinstant gratification loan\u201d becomes an easily accessible DeFi tool.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"In_other_news\"><\/span>In other news<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>What\u2019s easy to make is also easy to destroy. Yearn and Cover suddenly \u201cunmerged\u201d over development disagreements. <\/li>\n<li>Solana concludes its DeFi hackathon with a few innovative ideas being rewarded.<\/li>\n<li>1inch releases V3 of its aggregator, which is cheaper than using a DEX directly.<\/li>\n<li>Snapshot and Gnosis release SafeSnap, a way to execute governance votes automatically.<\/li>\n<li>Furucombo releases IOU token as part of a hack compensation plan.<\/li>\n<li>Alameda \u201cinvests\u201d $20 million in Reef, in what was apparently just an OTC deal. The subsequent drama is a can of worms I\u2019d rather not touch.<\/li>\n<li>PancakeSwap and Cream suffer a DNS spoofing attack, which routed users to a fake phishing website.<\/li>\n<\/ul>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/finance-redefined-the-crypto-renaissance-is-finally-here-march-3-17\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Finance Redefined: The crypto renaissance is finally here, March 3\u201317 &#8221; Editor&#8217;s note After taking a bit of a break and skipping a week for the newsletter, I\u2019ve returned with the feeling that something big is brewing for the crypto space. To people who follow me on Twitter or here, it is probably no&#8230;<\/p>\n","protected":false},"author":1,"featured_media":205311,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvNzhhNGY2MWMtMGVlMC00Y2E4LTg5YzctZWQzM2FkNDRjMmRkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74868,4965],"class_list":["post-205310","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-defi","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/205310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=205310"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/205310\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/205311"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=205310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=205310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=205310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}