Web3’s Swiss Army knife of personal finance Changex joins Cointelegraph Accelerator

Changex, an all-in-one mobile wallet, aims to attract traditional finance users to decentralized finance by offering easy-to-use DeFi functionality in a familiar environment and combining centralized and decentralized finance in a single screen. Users can trade, buy, sell, and transfer crypto, as well as stake assets and earn rewards, with plans to launch a Visa Debit Card and IBANs for managing fiat assets in the future. Changex has been selected as a participant in the Cointelegraph Accelerator program and plans to integrate the Avalanche blockchain and introduce leveraged staking functionality.

cointelegraph.com

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8/23/2023

Solana DEX aims to move price discovery on-chain

Phoenix, a new decentralized exchange (DEX) called Phoenix, has launched on the Solana mainnet with the goal of bringing on-chain price discovery to crypto assets, beginning with Solana's native token SOL. The team behind Phoenix aims to create a world where financial transactions happen on-chain and sees Solana as the ideal platform due to its scalability and protocol design capabilities. They believe that existing DEXs, such as Uniswap, are limited in terms of market mechanisms and are not competitive with traditional finance. Despite some challenges, the team is optimistic about the future of Solana-native assets in the tokenized asset space.

8/28/2023

$170,000,000,000 in Deposits Leaving the Decentralized Finance (DeFi) Ecosystem, Says IntoTheBlock - The Daily Hodl

Decentralized finance (DeFi) has been heavily impacted by the crypto bear market, with the total value locked in DeFi reaching its lowest point since February 2021, as investors withdraw approximately $170 billion in deposits due to decreased yields and increased exploits. However, newer protocols like Unibot are attempting to simplify the DeFi experience and show promising signs for reigniting the DeFi space.

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