This week's DeFi newsletter looks at the BNB Chain's new scam-alert DApp, Celsius continuing legal woes, and more.
BNB Chain has launched a new platform, DappBay, to discover new Web3 projects. DappBay is equipped with a novel feature called Red Alarm, which assesses project risk levels in real-time and alerts users of potentially risky DApps, according to a Thursday announcement.
Red Alarm is a contract risk scanning tool offered by DappBay that helps users identify high-risk projects to protect their investments from rug pulls and scams. Users can check if a contract address has logical flaws or fraud risks by entering it into the Red Alarm feature.Vermont’s Department of Financial Regulation issued a warning against troubled crypto lending firm Celsius on Tuesday, reminding users that the crypto lending firm is not licensed to offer its services in the state.
The DFR alleged that Celsius is “deeply insolvent” and doesn’t possess “assets and liquidity” to fulfill its obligations toward the customers. The state regulator accused the crypto lender of mismanaging customers’ funds by allocating them toward risky and illiquid investments.PoS gives Ethereum the economic structure to overtake Bitcoin, says DeFi researcher
As Ethereum shifts into PoS, a DeFi researcher has argued that the platform can overtake Bitcoin’s throne as the top dog in crypto.
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