Today's Roundup of DeFi News! Jan 20 2024

Wormhole's Triumphant Return and Hedera's Hefty Fund Allocation

Wormhole Reclaims Ground: After a two-year hiatus, Wormhole has impressively reclaimed $1 billion in total value locked (TVL).

Market Movements: Despite a bearish trend among the top 100 DeFi tokens, the sector's overall TVL remains robust at over $65 billion.

Hedera's Big Move: The Hedera Global Governing Council has earmarked a significant $408 million in HBAR tokens for further development and governance enhancements.

Fidelity's Prediction: An interest rate cut by the US Federal Reserve in 2024 might spark renewed institutional interest in DeFi and stablecoins.

Avalanche's Rising Popularity: Over 100 million inscriptions have been recorded on the Avalanche blockchain since June 2023​​.

Pandoshi (PAMBO): The New Buzz in DeFi

Rising Star Pandoshi (PAMBO): This innovative token is rapidly gaining attention in the DeFi space, known for its user-centric design and scalability.

Pandoshi's Ecosystem: Includes a Layer-2 network, a decentralised exchange, a non-custodial wallet, Metaverse gaming, and educational offerings.

Presale Progress: Currently in its third phase, PAMBO tokens are priced at $0.006, with the price expected to rise in subsequent phases​​.

Moonwell's Controversial Proposal

Controversy Over Collateral Use: Moonwell faces criticism for its plan to use $2.3 million in collateral to offset bad debt from the Frax Finance hack.

Community Division: While the proposal passed with overwhelming support, it sparked debates over ethical and legal issues, raising concerns about potential misappropriation of funds​​.

Solana's Airdrop Farming Frenzy

Airdrop Opportunities: The Solana ecosystem is becoming a hotspot for crypto airdrop hunters, with numerous protocols offering lucrative opportunities.

Delta Neutral Strategy: An advanced strategy is gaining traction, allowing users to earn yield on their capital without significant exposure to market volatility.

Protocol Developments: Projects like Jupiter are announcing incentive programs, further boosting the appeal of Solana for airdrop farming​​.

Final Thoughts

The DeFi space is continually evolving, with new developments, challenges, and opportunities emerging daily. Whether it's the resurgence of platforms like Wormhole, the buzz around tokens like Pandoshi, or the ethical debates in protocols like Moonwell, the landscape is as dynamic as ever. Stay tuned for more insights and updates in our next issue!

Stay informed, stay ahead.