Finance Redefined: Terra expanding UST and LUNA, and Aave Arc seeks institutional adoption, Dec. 31–Jan. 7

DeFi liquidity provider and market maker Tokemak would receive $50 million in UST for a maximum of six months, and lending and borrowing platform Rari Fuse would receive $20 million in UST across the same period. Yield aggregator Convex Finance would receive $18 million, while OlympusDAO would get $1 million in UST bonds and $425,000 in LUNA incentives for three months.

thirty organizations were granted primary whitelist entry to the service, including digital asset custodian Fireblocks, alongside Anubi Digital, Canvas Digital, SEBA Bank, GSR and crypto yield aggregator Celsius.

Following the successful completion of prerequisites such as Know Your Customer and Anti-Money Laundering protocols, these firms will gain exclusive access to “securely participate in DeFi as liquidity suppliers and borrowers” in a market that has soared 10 times in total value locked over exactly 12 months — from $30 billion to $300 billion.

DeFi platform WonderFi Technologies agreed to purchase First Ledger Corp , the parent firm of the first regulated crypto exchange in Canada, Bitbuy, this week for an impressive $162 million in a bid to expand the presence of cryptocurrency and DeFi across the country.

Backed by renowned billionaire investor Kevin O’Leary, WonderFi detailed its method of funding the takeover through the issuance of 70 million new shares, paying $15.7 million in upfront cash in addition to $23 million in deferred cash via a vendor-take back note due in 12 months.