{"id":528291,"date":"2022-12-16T23:20:00","date_gmt":"2022-12-16T20:20:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/industry-execs-confident-in-defi-adoption-despite-security-flaws-finance-redefined\/"},"modified":"2022-12-16T23:20:00","modified_gmt":"2022-12-16T20:20:00","slug":"industry-execs-confident-in-defi-adoption-despite-security-flaws-finance-redefined","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/industry-execs-confident-in-defi-adoption-despite-security-flaws-finance-redefined\/","title":{"rendered":"# Industry execs confident in DeFi adoption despite security flaws: Finance Redefined"},"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-6a30cb3ba0aae\" 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-6a30cb3ba0aae\" 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\/industry-execs-confident-in-defi-adoption-despite-security-flaws-finance-redefined\/#%E2%80%9D_Industry_execs_confident_in_DeFi_adoption_despite_security_flaws_Finance_Redefined_%E2%80%9C\" >&#8221; Industry execs confident in DeFi adoption despite security flaws: Finance Redefined &#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\/industry-execs-confident-in-defi-adoption-despite-security-flaws-finance-redefined\/#Industry_execs_voice_confidence_in_DeFi_adoption_despite_security_flaws\" >Industry execs voice confidence in DeFi adoption despite security flaws<\/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\/industry-execs-confident-in-defi-adoption-despite-security-flaws-finance-redefined\/#Ledger_hardware_wallet_adds_DeFi_tracking_feature\" >Ledger hardware wallet adds DeFi tracking feature<\/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\/industry-execs-confident-in-defi-adoption-despite-security-flaws-finance-redefined\/#SushiSwap_CEO_reveals_DEX_lost_30M_on_LP_incentives_this_year\" >SushiSwap CEO reveals DEX lost $30M on LP incentives this year<\/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\/industry-execs-confident-in-defi-adoption-despite-security-flaws-finance-redefined\/#Hackers_copied_Mango_Markets_attackers_methods_to_exploit_Lodestar_%E2%80%94_CertiK\" >Hackers copied Mango Markets attacker\u2019s methods to exploit Lodestar \u2014 CertiK<\/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\/industry-execs-confident-in-defi-adoption-despite-security-flaws-finance-redefined\/#DeFi_market_overview\" >DeFi market overview<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Industry_execs_confident_in_DeFi_adoption_despite_security_flaws_Finance_Redefined_%E2%80%9C\"><\/span>&#8221; Industry execs confident in DeFi adoption despite security flaws: Finance Redefined &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-30a6cf80>Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights \u2014 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 significant developments over the last week.<\/p>\n<p>Industry experts are confident in DeFi and believe the sector would continue to see adoption despite its security flaws, primarily due to the mammoth failure of centralized exchanges. Despite the continued growth, however, the decentralized exchanges have lost $30 million on liquidity provider incentives.<\/p>\n<p>Popular hardware crypto wallet Ledger introduced a new DeFi tracking feature that pairs with its hardware wallets to monitor performance analytics of over 1,000 protocols.<\/p>\n<p>The Lodestar Finance protocol that was exploited for over $5 million on Dec. 10 had a Mango Markets connection, wherein the exploiter copied the methods used by the Mango Markets\u2019 hacker to drain funds.<\/p>\n<p>The DeFi market had a mixed week in terms of price action, where the majority of the tokens remained in the same price range as last week but lost bullish momentum.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Industry_execs_voice_confidence_in_DeFi_adoption_despite_security_flaws\"><\/span>Industry execs voice confidence in DeFi adoption despite security flaws<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With DeFi being a hub for various hacks and exploits, some may feel discouraged or wary of entering the space. However, professionals within the crypto space are confident that DeFi will have broader adoption in the future. <\/p>\n<p>From educating institutional investors to eliminating user experience barriers for retail investors, Web3 executives shared their thoughts on how broader DeFi adoption can be achieved.<\/p>\n<p><strong>Continue reading<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ledger_hardware_wallet_adds_DeFi_tracking_feature\"><\/span>Ledger hardware wallet adds DeFi tracking feature<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Users and developers are seeking out ways to stay both safe and informed after a year of volatility and uncertainty. During this shift, the hardware wallet developer Ledger announced a new integration for users to track the value of their assets. <\/p>\n<p>Ledger and Merlin, a DeFi portfolio tracker, announced their new partnership on Dec. 13 to bring live DeFi performance analytics to Ledger Live users. The <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> connects to Ledger\u2019s cold storage wallets and services over 5 million users.<\/p>\n<p><strong>Continue reading<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"SushiSwap_CEO_reveals_DEX_lost_30M_on_LP_incentives_this_year\"><\/span>SushiSwap CEO reveals DEX lost $30M on LP incentives this year<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to a new tweet by SushiSwap CEO Jared Grey, the decentralized exchange (DEX) experienced a $30 million loss over the past 12 months on incentives for liquidity providers (LPs). As explained by Grey, SushiSwap currently employs a token-based emission strategy to incentivize LPs, but the current rate is \u201cunsustainable.\u201d<\/p>\n<p>Moving forward, Grey plans to rework SushiSwap\u2019s tokenomics so that LPs are no longer subsidized with emissions and redesign the entire model of bootstrapping liquidity on the exchange. \u201cIn Q1 2023, we will bring innovation to scale swap volume &amp; prioritize TVL. As LPs experience a more profitable swap experience, others should migrate to Sushi,\u201d wrote the DEX executive.<\/p>\n<p><strong>Continue reading<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Hackers_copied_Mango_Markets_attackers_methods_to_exploit_Lodestar_%E2%80%94_CertiK\"><\/span>Hackers copied Mango Markets attacker\u2019s methods to exploit Lodestar \u2014 CertiK<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Blockchain security company CertiK has shared a post-mortem analysis of the $5.8 million Lodestar Finance exploit that occurred on Dec. 10. Lodestar Finance hackers \u201cartificially pumped the price of an illiquid collateral asset which they then borrow against, leaving the protocol with irretrievable debt.\u201d<\/p>\n<p>The attack occurred through a vulnerability in the PlutusDAO\u2019s plvGLP token on Lodestar. According to its documentation, Lodestar \u201cuses verified, secure Chainlink price feeds for every asset it offers with the exception of plvGLP.\u201d Instead, the exchange rate of plvGLP to GLP relied on total assets divided by total supply on Lodestar.<\/p>\n<p><strong>Continue reading<\/strong><\/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 remained above $40 billion but saw a minor dip from the past week. Data from Cointelegraph Markets Pro and TradingView show that DeFi\u2019s top 100 tokens by market capitalization had a volatile week, with the majority of the tokens trading in the red.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/347efee2-6596-4cf7-9b3d-2de5a760e997.png\"><\/figure>\n<p>Lido DAO (LDO) was the biggest gainer among the top 100 DeFi tokens, registering a surge of 8.5% over the past week, followed by Thorchain(RUNE) with a 3% surge on the weekly chart.<\/p>\n<p>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.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/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\/industry-execs-confident-in-defi-adoption-despite-security-flaws-finance-redefined\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Industry execs confident in DeFi adoption despite security flaws: Finance Redefined &#8220; Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights \u2014 a newsletter crafted to bring you significant developments over the last week. Industry experts are confident in DeFi and believe the sector would continue to see adoption despite&#8230;<\/p>\n","protected":false},"author":1,"featured_media":528292,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/8461027c-a13c-4414-a7d5-d74970f3fdd6.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,74868,75916,75189,107545,74355,70934],"class_list":["post-528291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-defi","tag-dex","tag-ledger","tag-liquidity","tag-adoption","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/528291","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=528291"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/528291\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/528292"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=528291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=528291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=528291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}