{"id":472049,"date":"2022-07-08T23:15:00","date_gmt":"2022-07-08T20:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/finance-redefined-uk-government-explores-defi-with-a-focus-on-staking-and-lending\/"},"modified":"2022-07-08T23:15:00","modified_gmt":"2022-07-08T20:15:00","slug":"finance-redefined-uk-government-explores-defi-with-a-focus-on-staking-and-lending","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/finance-redefined-uk-government-explores-defi-with-a-focus-on-staking-and-lending\/","title":{"rendered":"# Finance Redefined: UK government explores DeFi with a focus on staking and lending"},"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-6a40209eae981\" 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-6a40209eae981\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-uk-government-explores-defi-with-a-focus-on-staking-and-lending\/#%E2%80%9D_Finance_Redefined_UK_government_explores_DeFi_with_a_focus_on_staking_and_lending_%E2%80%9C\" >&#8221; Finance Redefined: UK government explores DeFi with a focus on staking and lending  &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-uk-government-explores-defi-with-a-focus-on-staking-and-lending\/#UK_government_seeks_public_input_on_DeFi_taxation\" >UK government seeks public input on DeFi taxation<\/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-uk-government-explores-defi-with-a-focus-on-staking-and-lending\/#Aave_to_launch_overcollateralized_stablecoin_called_GHO\" >Aave to launch overcollateralized stablecoin called GHO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-uk-government-explores-defi-with-a-focus-on-staking-and-lending\/#MakerDAO_voting_on_collaborating_with_a_traditional_bank\" >MakerDAO voting on collaborating with a traditional bank<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-uk-government-explores-defi-with-a-focus-on-staking-and-lending\/#Crema_hacker_returns_8M_keeps_16M_in_deal_with_protocol\" >Crema hacker returns $8M, keeps $1.6M in deal with protocol<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-uk-government-explores-defi-with-a-focus-on-staking-and-lending\/#DeFi_market_overview\" >DeFi market overview<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Finance_Redefined_UK_government_explores_DeFi_with_a_focus_on_staking_and_lending_%E2%80%9C\"><\/span>&#8221; Finance Redefined: UK government explores DeFi with a focus on staking and lending  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Welcome to Finance Redefined, your weekly dose of key decentralized finance (DeFi) insights, a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter crafted to bring you some of the major developments over the last week.<\/p>\n<p>This past week, the DeFi ecosystem got recognition from the United Kingdom government, as they sought public feedback on taxation of the DeFi ecosystem, especially staking and lending.<\/p>\n<p>MakerDAO is looking to collaborate with the traditional banks, which would take place after the proposal gets community <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>roval. Aave (AAVE) is planning to launch an overcollateralized stablecoin called GHO, subject to the community decentralized autonomous organization\u2019s (DAO\u2019s) approval. The hacker who exploited Solana-based liquidity protocol Crema Finance on July 2 returned most of the funds but was allowed to keep $1.6 million as a white hat bounty.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template>After nearly two weeks of bearish dominance, the top 100 DeFi tokens finally started to trade in the green. The majority of the DeFi tokens registered double-digit weekly gains.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"UK_government_seeks_public_input_on_DeFi_taxation\"><\/span>UK government seeks public input on DeFi taxation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The government of the United Kingdom is asking the public for input on the taxation of crypto-asset loans and staking in the context of DeFi.<\/p>\n<p>In particular, the government is interested in gathering information on the taxation of crypto-asset loans and staking. Her Majesty\u2019s Revenue and Customs (HMRC) call for evidence paper, published on Tuesday, described its intention to study whether administrative hassles and costs may be reduced for taxpayers who participate in the emerging industry, as well as whether the tax treatment might be more aligned with the transactions\u2019 fundamental economics.<\/p>\n<p>Continue reading<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Aave_to_launch_overcollateralized_stablecoin_called_GHO\"><\/span>Aave to launch overcollateralized stablecoin called GHO<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>DeFi giant Aave has unveiled plans to launch an overcollateralized stablecoin called GHO, subject to the community DAO\u2019s approval. The announcement was made by Aave Companies, the centralized entity supporting the Aave protocol, on its <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> page on Thursday.<\/p>\n<p>According to the governance proposal shared on Thursday, GHO would be an Ethereum-based and decentralized stablecoin pegged to the United States dollar that could be collateralized with multiple assets of the user\u2019s choice.<\/p>\n<p>Continue reading<\/p>\n<h2><span class=\"ez-toc-section\" id=\"MakerDAO_voting_on_collaborating_with_a_traditional_bank\"><\/span>MakerDAO voting on collaborating with a traditional bank<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>MakerDAO is voting on a proposal that will bring a traditional bank into its ecosystem for the first time, allowing the bank to borrow against its assets using DeFi.<\/p>\n<p>At the end of voting on Thursday, 87.1 % of voters were in favor of the proposal. The proposal involves creating a vault with 100 million Dai (DAI) for Huntingdon Valley Bank (HVB) as part of a new collateral type in the Maker Protocol.<\/p>\n<p>Continue reading<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Crema_hacker_returns_8M_keeps_16M_in_deal_with_protocol\"><\/span>Crema hacker returns $8M, keeps $1.6M in deal with protocol<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The hacker who exploited Solana-based liquidity protocol Crema Finance on July 2 returned most of the funds but was allowed to keep $1.6 million as a white hat bounty.<\/p>\n<p>The bounty, 45,455 Solana (SOL), is worth a generous 16.7% of the $9.6 million Crema lost initially, which forced the protocol to suspend services. Crema\u2019s team began an investigation to identify the hacker by tracking their Discord handle and tracing the original gas source for the hacker\u2019s address. Just as it seemed the team may have been onto the secret identity, it announced that it had been negotiating with the hacker. On Wednesday, the hacker returned 6,064 Ether (ETH) and 23,967 SOL worth roughly $8 million.<\/p>\n<p>Continue reading<\/p>\n<h2><span class=\"ez-toc-section\" id=\"DeFi_market_overview\"><\/span>DeFi market overview<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Analytical data reveals that DeFi\u2019s total value locked registered a minor rise from the past week, rising to a value of $58.69 billion. Data from Cointelegraph Markets Pro and TradingView shows that DeFi\u2019s top-100 tokens by market capitalization showed great signs of recovery with the majority of the tokens trading in green with double-digit gains.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/835d2c9b-4ca4-4773-82f0-9e76a362a9e8.png\"><\/figure>\n<p>Curve (CRV) was the biggest gainer in the top-100 DeFi token list with a weekly surge of 50.18%, followed by Convex Finance (CVX) with 43.15% weekly gains. ThorChain (RUIN) registered a 28% gain over the past seven days, while Aave gained 26% during the same time period.<\/p>\n<p><em>Thanks for reading our summary of this week\u2019s most impactful DeFi developments. Join us next Friday for more stories, insights and education in this dynamically advancing space.<\/em><\/p>\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-uk-government-explores-defi-with-a-focus-on-staking-and-lending\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Finance Redefined: UK government explores DeFi with a focus on staking and lending &#8220; Welcome to Finance Redefined, your weekly dose of key decentralized finance (DeFi) insights, a newsletter crafted to bring you some of the major developments over the last week. This past week, the DeFi ecosystem got recognition from the United Kingdom&#8230;<\/p>\n","protected":false},"author":1,"featured_media":472050,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvYjEwODU0M2UtOTRiNy00N2Y5LWIxYmUtZDlkNTY1YzkxYmE0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[92664,74894,74868,76700,88784,70934],"class_list":["post-472049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-aave","tag-blockchain","tag-defi","tag-makerdao","tag-uk-government","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/472049","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=472049"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/472049\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/472050"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=472049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=472049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=472049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}