Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.
Cointelegraph interviewed Velvet Capital’s CEO on the challenges facing DeFi and the key barriers it needs to overcome to go mainstream. Cosmos-based Umee and Osmosis merge to create “DeFi Hub,” where Umee’s UX Chain code will be reimplemented on the Osmosis chain, combining features of the two networks.
The Platypus hacker has managed to evade accountability for the $8.5 million exploit on the protocol after claiming to be an ethical hacker. The court allowed the exploiter to walk free.
Despite a minor market downturn, the top 100 DeFi tokens had another bullish week, with the total value locked in DeFi tokens surging past $60 billion.
Cosmos-based networks Umee and Osmosis to merge, creating “DeFi Hub”
Cosmos-based networks Umee and Osmosis will merge via a software upgrade, according to a Dec. 4 announcement. Umee’s UX Chain code will be reimplemented on the Osmosis chain, combining features of the two networks and creating what the development teams call a “DeFi Hub” for the Cosmos ecosystem.
Umee is a decentralized lending protocol on a dedicated…
