Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi)<\/a> insights \u2014 a newsletter crafted to bring you significant developments over the last week.<\/p>\n Following FTX\u2019s demise, the DeFi space is up for a complete remodel as crypto users demand better security and compliance practices. <\/p>\n SushiSwap\u2019s roadmap for the coming year includes the development of a decentralized exchange (DEX<\/a>) aggregator, a decentralized incubator and \u201cseveral stealth projects.\u201d All these projects combined can grow its market share 10x, said the CEO.<\/p>\n The co-founder and CEO of Ava Labs spoke with Cointelegraph at the World Economic Forum in Davos, Switzerland, on the future of DeFi and traditional finance (TradFi) and said DeFi should complement TradFi, not attack it. Another DeFi report suggests that decentralized forex could reduce costs by as much as 80%.<\/p>\n The top 100 DeFi tokens saw a second week of bullish price action, with a majority of the tokens trading in the green on the weekly charts.<\/p>\n Just a month after warning of a \u201csignificant deficit\u201d in its treasury, the CEO of decentralized exchange SushiSwap has shared several planned updates to the platform, which he said are intended to \u201c10x\u201d its market share in 2023.<\/p>\n SushiSwap CEO, Jared Grey, laid out the plans for the DeFi platform in a Jan. 16 Medium post, saying it will focus on its product stack in line with prior plans to make Sushi more sustainable.<\/p>\n Continue reading<\/strong><\/a><\/p>\n DeFi is moving from becoming a small niche within the financial industry to something TradFi is trying to incorporate<\/a>. <\/p>\n In an interview with Cointelegraph at the World Economic Forum<\/a> in Davos, Switzerland, Emin Gun Sirer, the co-founder and CEO of Ava Labs, spoke on DeFi\u2019s role in TradFi ecosystems and what users can expect in a future where both are center stage. <\/p>\n Continue reading<\/strong><\/a><\/p>\n If the foreign exchange market starts using DeFi protocols instead of the current centralized systems, the cost of remittances could be reduced by \u201cas much as 80%,\u201d according to a Jan. 19 paper jointly published by researchers at Circle and Uniswap.<\/p>\n The authors studied the trading activity of Circle\u2019s USD Coin (USDC<\/a>) and Euro Coin (EUROC) on Uniswap from July 2022 to January 2023. They found that the coins had $128 million in total volume, with trading volume as high as $8 million on some days.<\/p>\n Continue reading<\/strong><\/a><\/p>\n In an alert, blockchain security firm CertiK reported that the Raydium protocol exploiter had sent 1,774.5 Ether (ETH<\/a>) to the Tornado Cash cryptocurrency mixer. The amount is worth around $2.7 million at the time of writing.<\/p>\n While security teams from various exchanges continue to combat the efforts of hackers, funds continue to flow to the sanctioned Tornado Cash. <\/p>\nSushiSwap\u2019s new DEX aggregator will \u201810x our market share\u2019 \u2014 head chef<\/h2>\n
DeFi should complement TradFi, not attack it: Ava Labs CEO | Davos 2023<\/h2>\n
Decentralized forex will reduce costs by as much as 80%: Report<\/h2>\n
Raydium exploiter moves $2.7M to crypto mixer Tornado Cash<\/h2>\n
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