DeFiChain is a decentralized Proof-of-Stake blockchain created as a hard fork of the Bitcoin network to enable advanced DeFi applications. <a href="https://defichain.com/">DeFiChain</a>, the world’s leading blockchain on the Bitcoin network dedicated to bringing decentralized financial applications to everyone, has officially activated the much-anticipated Grand Central hard fork on its network at 01 AM EST on Thursday, December 8th on Block Height 2,479,000. The Grand Central hard fork is one of the biggest and most monumental updates for DeFiChain in 2022. It marks the rollout of four main features:

Decentralization of finance is changing the world order by bringing financial matters into the hands of individuals. As a result, there has been a significant rise in DeFi protocols promoting this major devolution by encouraging the world to decentralize their finance.

Time for DeFi enthusiasts to get inspired by something new. Let's check who is still building these days.

Yield farming is a common practice in the DeFi sector that is used to maximize returns. It can be used to earn crypto. A yield farmer can use numerous tactics to maximize output. For instance, they can shift between coins and multiple platforms to maximize their gains. While there are numerous yield-farming platforms, there are those that stand out from the pack. Two good examples are Apeswap and Lido Staked ETH.

Perennial, a decentralized finance (DeFi)-native derivatives protocol, has gone live with a $12 million seed funding round led by Polychain Capital and Variant. The capital raise happened earlier this year, but the recent collapse of <a href="https://www.coindesk.com/policy/2022/11/09/the-collapse-of-the-ftx-empire/">centralized exchange FTX</a> has put increased focus on risk mitigation, liquidity and DeFi projects.

Hacks are inevitable in DeFi. It is a part of the risk of venturing into the unknown DeFi land.

Panoptic, a Uniswap-based decentralized finance protocol for trading perpetual options, raised $4.5 million in a seed funding round.

As the global crypto community is still licking its wounds from the FTX collapse, a liquidity crisis continues to spread around centralized exchanges and <a href="https://cointelegraph.com/defi-101/defi-a-comprehensive-guide-to-decentralized-finance">decentralized finance (DeFi)</a> alike.&nbsp;

Crypto.com DeFi wallet has suspended access to BNB Chain deposits. The suspension includes all BEP-20 tokens, including BNB, BUSD, and more.

Another multi-million dollar hack has hit the decentralized finance space. The latest victim is BNB Chain-based DeFi protocol – Ankr. Initial reports suggest that a vulnerability in its code that enabled unlimited minting of tokens was exploited.