Canza Finance has announced the launch of Baki, a synthetic DeFi market for stablecoins in Africa. Earlier, Canza Finance completed a $3.27 million seed round financing, led by Fenbushi Capital. Canza Finance is an emerging bank based in Nigeria that provides financial services to the public through DeFi and local currency trading markets.

Injective, a blockchain designed for next-generation DeFi applications, has chosen Kava Chain's Native USDT for their Perps trading. This partnership will bring significant benefits to users of both platforms, including enhanced trading opportunities, improved liquidity, and cross-chain flexibility. The integration of Kava Chain's capabilities with Injective's DeFi technology is set to reshape the world of DeFi. This collaboration exemplifies the mutual benefits that this partnership brings, offering users the best of both worlds and enriching the DeFi experience for traders, investors, and developers alike.

On November 2nd, dForce announced on X platform that governance proposal DIP058 has been passed, and the dForce Lending brand will be renamed Unitus.

Odaily Planet Daily News As of October 30, 2023, DeFi Technologies subsidiary Valor Asset Management has grown by 40%, reaching approximately CAD 259 million (USD 187 million), higher than the CAD 183 million as of June 30, 2023. In addition, Valor has launched three euro-denominated products on NGM: Valor Ethereum Zero EUR, Valor Solana EUR, and Valor Digital Asset Basket 10 (VDAB10) EUR. Valor's innovative Ethereum physical collateral ETP has been launched on the EU-wide issuance platform Valor Digital Securities Limited (VDSL) on XETRA, and Valor Digital Asset Basket 10 (ETP) has been launched in the Nordic growth market. (PR Newswire)

On November 2nd, according to official sources, DeFi lending protocol Kinza Finance launched an airdrop points system. The system provides real-time feedback on a user's airdrop points based on the amount and duration of liquidity they deposit on the Kinza mainnet, in order to determine their eligibility for airdrop distribution of KZA tokens. As previously reported by BlockBeats, on August 4th, Binance Labs announced that it had invested in the top 4 performing projects of the 6th season of the Most Valuable Builder (MVB) program, including Kinza Finance.

DeFi protocol Elixir Protocol announced on X platform that Elixir Orderbook Modules have been launched. Users can provide liquidity directly to trading pairs on the hybrid order book AMM DEX Vertex on Arbitrum. Previously in October, Elixir Protocol completed a $7.5 million Series A funding round with a valuation of $100 million, led by Hack VC, with participation from NGC Ventures, AngelList Ventures, Bloccelerate, and angel investors from Ledger Prime, Genesis Trading, and Hudson River Trading. It is reported that Elixir allows users to provide liquidity directly to trading pairs on the order book exchange and receive market maker rewards similar to AMM.

DeFi protocol Onyx has been attacked by hackers, causing a loss of about $2.1 million in encrypted assets, as monitored by PeckShield.

Enzyme, a decentralized asset management protocol, stated that Enzyme TVL increased by 52% in the past month, from $75 million to nearly $120 million.

Jake Chervinsky, the Chief Legal Officer of risk fund Variant, stated that the cryptocurrency industry is facing macro challenges, and DeFi is facing a "comprehensive positive attack" from regulatory agencies. Chervinsky believes that regulatory agencies want to identify the identities of all parties involved in transactions and want a comprehensive understanding and supervision of the financial system. Cryptocurrency mixers are tools that people can use to protect their privacy, and he said: "What we see is a comprehensive positive attack by regulatory agencies, especially anti-money laundering regulatory agencies, whose goal is to figure out who the traders are and how to avoid such technologies." Chervinsky said that since the Patriot Act came into effect more than 20 years ago, the US Treasury Department has been able to identify major money laundering issues. He said: "They can sanction an institution, a jurisdiction, an account type, or even a type of transaction."

According to a report released by Chainalysis, the adoption rate of DeFi in North America is still on the rise. The total on-chain value estimated to be transferred between July 2022 and June 2023 is around $1.2 trillion, slightly higher than 24% of the global digital value. At the same time, the usage of DeFi in North America continues to grow in terms of original transaction volume, especially in protocols with highly concentrated speculative trading.