Global #defi

Achieving passive income through crypto investments necessitates a nuanced comprehension of the market, tailored strategies, and a prudent stance towards promises of high yields.

Over the past week, Cardano (ADA) investors faced challenges with declining prices. Nevertheless, there was a noticeable increase in interest within the DeFi sector.

According to a report by Immunefi, cryptocurrency losses due to hacks and rug pulls amounted to over $473 million across 108 incidents in 2024. In May alone, $52 million was stolen, with Gala Games and SonneFinance being the hardest hit, losing $21 million and $20 million respectively.

Veda, a new DeFi abstraction layer, has partnered with EtherFi, a prominent liquid restaking protocol. This collaboration, announced on May 30, integrates Veda's technology into EtherFi Liquid, enhancing automated yield generation strategies. Veda's infrastructure simplifies complex smart contract interactions, removing technical barriers typically associated with accessing intricate DeFi strategies.

Blocksquare, a protocol for tokenizing real estate, has revealed the tokenization of properties worth $100 million across different sectors.

LayerZero has officially launched on Solana, marking a significant step towards a more interconnected blockchain ecosystem.