Centralized Exchanges Will Become Gateways for DeFi: Finance Redefined

The top 100 DeFi tokens had a mixed week, with most tokens continuing to trade in a similar range to the previous week.

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) news – a newsletter designed to bring you the most significant developments of the past week.

Last week in DeFi saw further advancements in zero-knowledge proofs (ZK proofs) as a scaling solution as more DeFi protocols adopted the technology.

A new US Senate DeFi bill has drawn a lot of scrutiny — though not necessarily of a positive nature — as many stakeholders have come forward to criticize the “unenforceable” legislation.

The Dydx Foundation CEO made a bold prediction that centralized exchanges will eventually become a gateway for DeFi, while Polygon 2.0 laid the foundation for decentralized governance.

The top 100 DeFi tokens had another mixed week of highs and lows, with most tokens continuing to trade within the same range as the previous week.

Centralized exchanges will become gateways for DeFi - DYdX Foundation CEO

The dYdX Foundation, an independent DeFi nonprofit founded to support the dYdX protocol, recently launched a public testnet for its latest version, v4. According to the foundation, this puts dYdX ahead of schedule for the imminent launch of the v4 mainnet, which the foundation says represents complete decentralization for dYdX.

As Cointelegraph recently reported, the July 5 launch of testnet represented the fourth of five dYdX milestones set out in its 2022 roadmap to decentralization.