DeFi

Summer.fi DeFi platform announces the launch of $RAYS to reward users

June 20, 2024 1 min read

Summer.fi, a platform for decentralized money, has introduced $RAYS, a system of points created to motivate and compensate users for their active participation with the app and associated protocols. The reward program consists of three distinct phases: retroactive participation, retroactive points claiming, and the accumulation of $RAYS. A snapshot was captured on June 18th, 2024 to acknowledge both previous and present users, as well as individuals now utilizing other protocols

Term Structure Mainnet Launches, Revolutionizing DeFi with Market-Driven Fixed-Income Solutions

June 3, 2024 4 mins read

Hongkong, Hongkong, June 3rd, 2024 Term Structure, the pioneering non-custodial fixed-income protocol, has officially gone live with its mainnet on Ethereum. This launch introduces the first institutional-grade, market-driven fixed-income protocol, revolutionizing how liquidity is provided between lenders and borrowers in decentralized finance (DeFi). Users can use their LSTs and LRTs as collateral to borrow tokens at fixed rates and terms and earn points and staking rewards in the primary markets,

MyShell Raises $11 Million for its Decentralized AI Consumer Layer

March 28, 2024 3 mins read

Tokyo, Japan, March 27th, 2024 Funds from the Pre-Series A round led by Dragonfly will further develop MyShell’s open-source models and agent platform for empowering AI creators MyShell, a decentralized AI consumer layer, announced today that it has raised US$11 million in a Pre-Series A round, with participation from a cohort of high-profile investors, including Dragonfly, Delphi Ventures, Bankless Ventures, Maven11 Capital, Nascent, Nomad Capital, OKX Ventures, etc.  Prominent angel

DeFi Project Targets Multibillion-Dollar Market with Groundbreaking DeFi Debit Card Launch

March 24, 2024 3 mins read

Bankstown, Australia, March 23rd, 2024 DeFi project develops a globally-supported debit card for daily purchases and financial transactions. DeFi offers anonymity and worldwide accessibility but falls short in user experience and broader application in daily life. Xuirin Finance introduces a DeFi debit card to connect decentralized finance with everyday spending habits. Decentralized finance (DeFi) exists somewhat outside the regular financial system’s embrace. Its potential for innovation is frequently obscured by

Casino777 Expands in Europe, Considers Cryptocurrency Payments

January 11, 2024 4 mins read

Berlin, Germany, January 11th, 2024 Found in the Ardennes region of Belgium, Casino de Spa gets billed as one of the world’s oldest brick-and-mortar gaming establishments. The team operating this venue is also active in the online sector via the Internet gambling brand Casino777, which became available in the Dutch market in 2022, shortly after the Netherlands began regulating Internet gambling.  Recently, industry rumblings have popped up suggesting this top gaming hub

Gelato’s Rollup Platform Expands Support to Optimism’s OP Stack, Launching Lisk Layer 2 Chain

December 19, 2023 4 mins read

Zug, Switzerland, December 19th, 2023 Gelato announces expansion of its all-in-one Rollup-as-a-Service (RaaS) Platform. In addition to supporting Polygon CDK, Gelato now also services the OP Stack, the Optimism Collective’s open-source, modular development framework. As part of this expansion, Gelato enables Lisk, a Layer 1 blockchain launched in 2016, to join the Ethereum ecosystem by migrating to an Ethereum Layer 2. Lisk will join OP Mainnet, Base, and other OP Chains as the first Layer

DeFi Community Shocked by Supply Chain Attack on Ledger ConnectKit

December 15, 2023 1 min read

Ledger ConnectKit fell victim to a supply chain attack, resulting in a significant security compromise known as a “rug-pull.” The vulnerability allows the injection of malicious code into various decentralized applications (dApps), posing a considerable threat to users and their assets. Web3 security firm Blockaid identified LedgerHQ’s ConnectKit, particularly versions beyond 1.1.4, as the compromised package in this attack. According to Ledger, the incident occurred when a former employee’s NPMJS

DeFi Protocol Sushi Falls Victim to Exploit, Affecting Web3 Connector Users

December 14, 2023 1 min read

Sushi, a well-known DeFi (Decentralized Finance) protocol, recently experienced a security breach via its Web3 connector, prompting the protocol’s Chief Technology Officer (CTO), Matthew Lilley, to issue a warning. As a precaution, users have been advised to refrain from using any decentralized applications (dApps) for the time being. The security incident involves a front-end exploit, which is a type of attack that alters the appearance of a website or application

KyberSwap Hit by $50M Cyberattack, Sending Shockwaves Through Multiple Platforms

November 24, 2023 1 min read

A cyber attacker successfully executed a $50 million heist on the decentralized exchange KyberSwap, urging users to withdraw their assets as soon as possible. The attacker primarily targeted Ethereum and USDC funds, carrying out multiple attacks across multiple KyberSwap platforms. The hacker specifically stole $20 million from Arbitrum, $15 million from Optimism, and $7 million from Ethereum. The exploit exposed flaws in the exchange’s coding, affecting liquidity provider pools in

Beyond Instant Payments: Zebec Launches Modular L3 Nautilus for Scalable Payment Streaming

August 22, 2023 5 mins read

New York, USA, August 21st, 2023 Zebec has launched Nautilus, a modular L3 network that supports its blockchain-based global payment infrastructure. Nautilus enables continuous payment streaming and real-time payroll services on a previously impossible scale. As a first-of-its-kind L3, Nautilus enables more than just instant payments. It can also facilitate Zebec Protocol’s live-payment streaming service at scale, made possible by the fastest EVM environment in web3. Capable of parallel transaction processing,

AAVE and COMP Lead the DeFi Sector Rally with 30% Surge

June 26, 2023 2 mins read

The decentralized finance (DeFi) sector is witnessing a notable resurgence, with top tokens, including Uniswap, Aave, Compound, and Synthetix, outperforming the broader markets. In the past 24 hours, these DeFi assets have experienced significant double-digit gains, with AAVE and COMP leading the rally with a remarkable 30% surge. The rising interest in DeFi is evident as both the total value locked in DeFi protocols and the market cap of DeFi

Federal Court Throws Out Lawsuit Against DeFi Platform PoolTogether

June 8, 2023 1 min read

A recent ruling by a United States federal judge has resulted in the dismissal of a lawsuit against the decentralized finance (DeFi) platform PoolTogether. The judge determined that a federal court was not the appropriate venue for addressing concerns related to the DeFi startup. The lawsuit, filed by plaintiff Joseph Kent, alleged violations of gambling laws and consumer scams by PoolTogether in New York state. However, the judge found that