2/2 October Development Update

De.Fi Raises Investment from Prominent Venture Firms

This fortnight, we are proud to announce that De.Fi has secured investments from two major Web3-focused venture capital firms. This comes just as we are seeing a much anticipated rally in the crypto market.

In the first instance, De.Fi has received the backing of OKX Ventures. This partnership signifies not just financial support but also a strong commitment to product development. The collaboration with the OKX team is set to propel De.Fi’s achievements even further, and the community can expect exciting innovations that will emerge from this partnership.

In another announcement, De.Fi has revealed that it has obtained the backing of Fenbushi Capital, which is renowned as the first and most active blockchain-focused venture capital firm in Asia. This alliance with one of the largest Web3 venture capital firms in the region highlights De.Fi’s dedication to building meaningful decentralized finance solutions underscores the growing interest from institutional investors in the De.Fi project.

With both of these announcements coming in quick succession, this is telling of the promising trajectory for De.Fi as it continues to solidify its position in the decentralized finance ecosystem. As the platform moves forward with the support of these backers, the De.Fi community can look forward to even more exciting product releases on our end in the coming months.

De.Fi Now Powers the GeckoTerminal

While we are on the topic of security, De.Fi is taking another step forward with its product integrations by entering into a strategic partnership with GeckoTerminal, a charting terminal . The collaboration showcases GeckoTerminal’s commitment to user security by integrating De.Fi’s state-of-the-art Antivirus API, which is already known in the space as the gold standard of Web3 antivirus solutions.

This integration is crucial in today’s digital landscape as it provides an essential protective layer against high-risk assets for GeckoTerminal’s users, presenting these threats in a concise manner. To understand how this integration works for the end-user:

1. Users need to navigate to any token listed on GeckoTerminal.

2. They can then effortlessly locate the De.Fi Checkers section in the sidebar.

3. This section will display an in-depth analysis of the asset, covering both smart contract code issues and liquidity dynamics.

This move aligns with the shared vision of both De.Fi and GeckoTerminal: building a safer Web3 environment. For a hands-on experience and a detailed understanding of how GeckoTerminal has seamlessly incorporated the Antivirus API, users can try it out at GeckoTerminal.com

The synergy between De.Fi and the Coingecko team has just begun, and we look forward to deeper integration between the two leading products in the future.

De.Fi Introduces Industry’s First Crypto Antivirus on Base Chain

Late this month, De.Fi has launched the first-ever crypto antivirus on the Base chain – an ecosystem that has quickly become one of the top DeFi platforms by total value locked. This latest development ensures that all Base Chain users can now enjoy an enhanced layer of security, further protecting their digital assets against potential threats.

Key features of this integration include:

Early Detection: Users can swiftly identify potential crypto scams, safeguarding their wallets from fraudulent activities and potential drainers.

Rapid Scam Identification: With the new system in place, recognizing a crypto scam becomes a matter of seconds. Users simply need to input the contract address of any Token, NFT, or Staking Vault. Once entered, they will receive a comprehensive view of all potential risks associated with that particular contract. For developers, this tool goes a step further by pinpointing the exact location of issues within the code. A closer look can be taken at http://de.fi/scanner.

Advanced Revoking Tool: Apart from the scanner, Base Chain users also gain access to ‘Shield’, a sophisticated revoking tool. Shield is designed to automatically scan all tokens and approvals associated with Base Chain in a user’s wallet. If any high-risk tokens are detected, users receive immediate notifications, enabling them to take swift revoking actions. More details can be found at http://de.fi/shield.

This collaboration underscores De.Fi’s constant commitment to providing the crypto community with robust tools to combat the increasing number of scams in the ecosystem.

De.Fi is Featured in Academic Research by the University of Montreal

If you thought De.Fi was only about helping investors stay safe, think again: De.Fi has extended its support to the academic domain by making a significant contribution in a research piece by the University of Montreal.

For over three years, De.Fi has carefully analyzed the on-chain flow of web3 exploits and scams, amassing a comprehensive database of more than 3,500 crypto hacks. This extensive research has not only provided invaluable insights into the crypto community but has now found its resonance in the academic arena: Researchers at the University of Montreal have leveraged the open-source data from the De.Fi REKT Database to publish an enlightening study titled:  “Mapping the DeFi Crime Landscape: An Evidence-based Picture.” 

This research offers an in-depth analysis of the prevalence and impact of crimes in the DeFi space over recent years. The study is accessible to the public and can be found at http://arxiv.org

Reiterating De.Fi’s core ethos, the organization’s mission has consistently been centered around equipping its community with transparent data and thorough analysis of notable crypto hacks. Furthermore, De.Fi aims to empower users with tools to perform such analyses independently, as evidenced by the creation of the DeFi Scanner and REKT Database.

With this initiative, De.Fi reaffirms its commitment not only to the crypto community but also to the broader sphere of academic research. The community eagerly awaits more groundbreaking contributions from the platform in the near future.