Ethereum’s upcoming Merge may negatively affect stablecoin values and shrink DeFi lending protocol lending pools, according to a new DappRadar report. LizKNapolitano reports
The study focuses on delays that could arise during Ethereum’s transition to a proof-of-stake consensus mechanism, better known as. The long-awaited tech upgrade may slow transaction times or create service disruptions across DeFi lending protocols, creating headaches for the platforms, the report said. In turn, this could plunge stablecoin values and shrink DeFi lending pools.
“If the Merge fails to successfully be launched, we will have delays on DeFi protocols that will affect stablecoins,” Herrera told CoinDesk. “But from the supply dynamics perspective, this can also take a toll on how stablecoins will be used for liquidity pools, in the DeFi space and beyond.” It is also possible that DeFi platforms could experience network downtime as some Ethereum-based protocols lag behind the Ethereum chain in their transitions to the proof-of-stake consensus mechanism, the report said.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Crypto Exchange Coinbase Introduces Liquid Staking Token Before Ethereum MergeThe Coinbase Wrapped Staked ETH (cbETH) will have several uses, including selling and transferring staked ETH as well as using it as collateral in DeFi protocols.
Weiterlesen »
Synthetix looks to turn off the SNX money printer once and for allNo more BRRR? Synthetix will “turn off the money printer” of SNX token rewards and cap the total supply at 300 million if a proposal from founder Kain Warwick passes.
Weiterlesen »
Vitalik: People still 'underrate' the superiority of crypto paymentsIncreasing adoption from retail giants, the prevalence of stablecoins, and the convenience of crypto cards mean that cryptocurrencies may be a better form of payment than one may think.
Weiterlesen »
Algorithmic Stablecoin USDN Falls From Dollar Peg as Liquidity SlumpsAlgorithmic stablecoin USDN, which is backed by the Waves' protocol token, has fallen from its dollar peg to $0.91. By OKnightCrypto
Weiterlesen »
Tether says it would not freeze sanctioned Tornado Cash addresses unless instructed by law enforcementThe firm points out that other U.S. based stablecoin issuers did not proceed with address freezes.
Weiterlesen »