A number of DeFi protocols together with MakerDAO, SushiSwap, and Balancer concurrently posted photos of “fist bump” with totally different background colours on their official Twitter accounts on Saturday. The decentralized finance platforms trace at an upcoming enormous announcement associated to the DeFi market on Monday, February 6.
Whereas different DeFi protocols simply posted the image, Gearbox Protocol added some further hints. Gearbox in a tweet on February 4 stated it’s only a flash mob organized by decentralized finance DAOs a couple of first try at coordination within the decentralized finance business.
“In case you’re confused: that is only a enjoyable DAO flashmob taking place with another superior DeFi tasks (as you may have observed already). A primary try at coordination, as to talk. However perhaps advertising and marketing contributors might truly put together one thing cool for Monday anyway.”
Crypto Twitter Speculates About Upcoming DeFi Announcement
The DAO flash mob has confused folks why all DeFi platforms have posted an analogous “fist bump” image. Some crypto fanatics speculate that it’s probably associated to Arbitrum’s upcoming token launch or a number of DeFi tasks planning to kind an alliance.
Arbitrum is a Layer-2 Ethereum scaling answer geared toward tackling unaffordable excessive transaction charges and congestion on Ethereum. It additionally provides a collection of Ethereum scaling options which can be safe, quick, low cost, and EVM-compatible.
Whereas the small print on the DeFi venture or collaboration are nonetheless restricted, Gearbox Protocol advertising and marketing contributors might truly put together one thing attention-grabbing for Monday amid the large DeFi news.
The final 12 months was tough for the DeFi business resulting from hacks, scams, and liquidity disaster amid the Terra-LUNA and the FTX crash. In keeping with DeFiLlama, the total value locked (TVL) in DeFi fell from over 180 billion in January 2022 to beneath $40 billion in December 2022.
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Arbitrum-Linked GMX Token Skyrockets 15%
Arbitrum has no native token, however an increase in Arbitrum community exercise is related to the GMX token. Decentralized perpetual change GMX’s native token GMX skyrocketed over 15% within the final 24 hours, with the present value buying and selling at $73.65. The 24-hour high and low are $64.26 and $75.92, respectively.
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