Welcome to Finance Redefined, your weekly dose of basic decentralized finance (DeFi) insights — a e-newsletter crafted to bring you the most basic developments from the past week.
The $47 million Curve Finance exploit on July 30 had a domino cease on the DeFi ecosystem, mainly as a consequence of the $100 million mortgage taken out by the Curve founder in opposition to the platform’s native Curve DAO (CRV) token. So much of lending protocols maintain rushed in with current governance proposals to minimize CRV exposure risks because the token mark fluctuates. On Aug. 3, the native stablecoin of the ecosystem crvUSD depegged as a consequence of market prerequisites.
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