Struct Finance gains 100% in 7-day TVL, ranks first by that measure on Avalanche
The Avalanche-based DeFi platform Struct Finance saw over 100% gains in total value locked (TVL) during the week ending July 17.
As per data from DeFiLlama, the total value locked (TVL) of Struct Finance more than doubled, increasing from $350,820 to $718,229, between July 10 and July 17.
The platform’s TVL also nearly doubled from 25,800 AVAX to 51,156 AVAX over the same period when measured in Avalanche’s native currency, AVAX.
This significant growth has established Struct Finance as the fastest-growing Avalanche-based DeFi platform over the past week. It also places the platform as the 18th fastest-growing DeFi platform on any blockchain over a single week.
Even with its rapid growth, Struct Finance currently ranks as the 38th largest Avalanche-based DeFi platform by TVL. Whereas Struct has $707,757 in TVL, the leading Avalanche DeFi platforms Benqi (QI) and Aave (AAVE) have upwards of $200 million in TVL.
Struct is less than one month old
Struct Finance’s rapid growth is notable due to the fact that it launched slightly less than one month ago, on June 21, 2023.
At the time of Struct’s launch, an announcement from Avalanche explained that the platform offers interest rate vaults as well as tranching mechanisms that create groups of yield-bearing products with unique strategies.
Furthermore, the announcement highlighted Struct’s unique feature that allows liquidity providers (LPs) to earn fixed yields during stable market conditions, irrespective of market fluctuations. Additionally, during times of high volatility and trading activity, LPs can access variable yields to take advantage of any ongoing yield increase.
Struct also aims to foster effective markets through greater capital efficiency, expansion of strategies, and the creation of more liquid markets while offering its services to retail and institutional investors alike. Moreover, Struct’s contribution to liquidity could potentially reinforce the overall strength of the Avalanche DeFi ecosystem.
It remains to be seen whether Struct will be able to maintain its early growth trends.
The post Struct Finance gains 100% in 7-day TVL, ranks first by that measure on Avalanche appeared first on CryptoSlate.
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Man Faces Charges for Allegedly Helping To Kidnap ‘Crypto King’ After Falling Victim to Scheme: Report
A Toronto investor who allegedly helped kidnap Ontario’s “Crypto King” last December after losing thousands in a scam is facing kidnapping charges in Canada.
According to a new CBC report, Akil Heywood is facing kidnapping, confinement, and assault charges for allegedly kidnapping “Crypto King” Aiden Pleterski last December.
Says the fraud recovery lawyer representing some of the investors, Norman Groot,
“I’ve never seen a bankruptcy proceeding where an inspector is charged in a kidnapping and a forcible confinement related to recovering money in a bankruptcy…
Mr. Heywood would have been privy to the particulars of whatever investigation Grant Thornton was conducting — and the concern always, ‘Is that information going to be used for their own purpose outside of the bankruptcy proceeding?'”
Last year, Aiden Pleterski, who called himself the “Crypto King” of Canada and is currently undergoing bankruptcy proceedings after allegedly cheating investors, was reportedly abducted and physically assaulted for ransom.
Pleterski is accused of running a scheme that assured investors their funds would be invested in cryptocurrency and foreign exchange positions, but the 24-year-old allegedly only invested $670,000 of the $41.5 million that he received.
Pleterski was allegedly driven around Southern Ontario, beaten and tortured. Pleterski’s landlord corroborates the claim saying he also received a call asking for a ransom.
Less than two weeks before the alleged kidnapping, Pleterski warned interviewers about Heywood during an interview concerning bankruptcy on Nov. 24, 2022.
“Akil [Heywood] is still, by the way, uttering threats, and very dangerous, violent threats, to me over Instagram comment sections and text messages.”
Heywood is thus far claiming innocence, though he declined an interview with the CBC.
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The post Man Faces Charges for Allegedly Helping To Kidnap ‘Crypto King’ After Falling Victim to Scheme: Report appeared first on The Daily Hodl.
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