Today in DeFi - SuperFluid, Metric Exchange, CFTC vs. BitMex
SuperFluid recently came out of stealth mode. SuperFluid is a Sablier-like streaming payments service. SuperFluid expands on Sablier’s streaming payments by allowing for more programmability. More parameters can be set, and the entire stream can be tokenized, giving developers more options for composability. Learn more on their Medium.
Metric Exchange, launched recently. Metric is a pseudo-fork by Build Finance which provides a simple interface to the 1split DEX aggregation algorithm created by 1inch.exchange. Compared to 1inch, Metric has a simpler, faster loading interface, but also has less features.
CFTC vs Bitmex
The CFTC has charged Bitcoin derivatives platform Bitmex with illegally operating a Cryptocurrency derivatives platform and violating AML regulations. The DoJ has also announced its own charges. CTO Samuel Reed was arrested today in Massachussets.
Bitmex has issued a statement on the charges:
“We strongly disagree with the U.S. government’s heavy-handed decision to bring these charges, and intend to defend the allegations vigorously. From our early days as a start-up, we have always sought to comply with applicable U.S. laws, as those laws were understood at the time and based on available guidance.”
While Bitmex is a centralized exchange, the indictment has had a ripple effect on cryptocurrency prices and even DeFi projects have had token prices drop.
In my humble opinion, regulatory attacks on centralized exchanges like Bitmex, or centralized tokens like Tether bolster the value of Decentralized Finance. However, they also show the importance of understanding financial regulation and minimizing regulatory attack surface.