Overall, the industry in 2022 saw on-chain DeFi insurance providers sell 19,839 policies, with 552 claims and 379 payouts to date, according to data published on March 20 via OpenCover, an organization that works with a variety of DeFi insurance providers to produce the report.

The world of finance is changing rapidly, and decentralized finance (DeFi) is emerging as a major player.

According to a Mar. 21 report published by decentralized finance analytics firm OpenCover, DeFi insurance companies paid out $34.4 million in claims in 2022. In context, only $36.9 million of such claims have been paid out since OpenCover began tracking the data. Notable payouts include $22.5 million during the collapse of the Terra Luna ecosystem in May 2022 and $4.7 million from the collapse of crypto exchange FTX in November 2022. 

Evolving DeFi protocols enable users to bet on the future value of crypto assets and to tokenize currencies and commodities, bringing TradFi trading instruments to the blockchain space.

Decentralized finance (Defi) analytics platform DefiLlama appears to have resolved the internal conflict within its team that had earlier threatened a “forking” of the platform. Potential trouble at DefiLlama was first revealed when developer 0xngmi claimed in a March 19 Twitter post that DefiLlama was “undergoing a hostile takeover,” with the launching of a token called "LLAMA" without employee approval or support. In response, the parent company of DefiLlama accused “0xngmi and a few team members” to have “gone rogue” by looking to seize DefiLlama’s intellectual property while “inaccurately claiming the rightful owner to be doing a hostile takeover.” (Cointelegraph)

Pixelcraft Studios, creators of Aavegotchi, a rapidly-growing Web3 gaming protocol and community, has announced the successful completion of a multi-year long token sale, raising a total of $30 million.

As of end-February 2023, Invest Hong Kong has received expressions of interest from over 80 virtual asset-related Mainland and foreign companies in establishing their presence in Hong Kong.

Market maker and investment firm DWF Labs is making a $20 million investment in on-chain liquidity and derivatives trading protocol Synthetix.

Arbitrum’s decentralized exchange (DEX) transactions volume rose to a new all-time high (ATH) in each of the last two weeks, according to DeFillama data.

Early in the morning of March 17, 2023, 100 ETH stolen in the Euler Finance hack moved to an address that previously received funds stolen in the Axie Infinity Ronin Bridge hack, which was carried out by the North Korean hacking syndicate Lazarus Group.