DeFi

Platypus to Develop Compensation Plan for $8.5M Attack Victims

February 19, 2023 1 min read

Decentralized finance (DeFi) platform, Platypus, is developing a compensation plan for its users following an $8.5 million flash loan attack. The attack drained funds from the protocol, leading to the destabilization of its dollar-pegged stablecoin. In response, Platypus took to Twitter to assure users that it is working on a compensation plan and asked them not to sell their assets in the protocol as this could exacerbate the situation. Platypus

TON Names Orbs As The Official Sponsor Of Two Key Global Hackathon Events

February 16, 2023 2 mins read

Tel Aviv, Israel, 16th February, 2023 Orbs is the sponsor of several exclusive offsite events for the upcoming TON global hackathon. These events will occur across Tel Aviv and London, two strategic locations for this initiative. The TON team is launching the first global Hack-a-TONx collaborative effort. DoraHacks and the TON Foundation joined forces to create this global event, with $250,000 in prizes to be distributed among participants. Several hackathons will occur

LandX Completes Security Audit with Quantstamp, Establishing Confidence in Platform’s Security

February 16, 2023 2 mins read

Dubai, United Arab Emirates, 16th February, 2023, Chainwire LandX, the decentralized Perpetual Commodity Vaults Protocol, has announced the successful completion of a security audit conducted by Quantstamp, a leader in blockchain security solutions. The audit included a comprehensive review of LandX’s smart contracts. The audit process was conducted over a period of several weeks, during which Quantstamp’s team of experts tested LandX’s code for potential security vulnerabilities, including its smart contract architecture

MetaMask Warns Users of Scam Emails Sent by Namecheap Hacker

February 14, 2023 1 min read

MetaMask has recently warned investors about the ongoing phishing attempts by scammers, who are attempting to contact users through Namecheap’s third-party upstream system for emails. On the evening of February 12, web hosting company Namecheap detected the misuse of one of its third-party services for sending unauthorized emails, which directly targeted MetaMask users. In response to the alert, MetaMask reminded its million followers that it does not collect Know Your

Venom Blockchain Partners with DAO Maker to Incubate Web3 Startups Focused on Real-world Use Cases

February 13, 2023 3 mins read

Abu Dhabi, Abu Dhabi, 13th February, 2023 Venom Foundation, the first Layer-1 blockchain licensed by the Abu Dhabi Global Market (ADGM), has announced a partnership with DAO Maker, a leading blockchain growth solutions provider known for their Launchpad, to incubate promising Web3 startups focused on delivering real-world use cases. DAO Maker will actively assist in the development of the Venom ecosystem and contribute to the success of projects within the

AshSwap the first stable-swap DEX Launches on MultiversX Mainnet

February 13, 2023 4 mins read

Ho Chi Minh City, Vietnam, 11th February, 2023 AshSwap, the first stable-swap DEX on the MultiversX blockchain (previously Elrond Network), is officially launching on the MultiversX mainnet on February 17. The DEX will seamlessly bridge critical DeFi functions and provide tighter spreads with a fraction of the liquidity on MultiversX. In November 2021, AshSwap successfully raised $2.5 million in a private sale led by Elrond. The initial offering of ASH tokens on

Nexo Suspends Ethereum Improvement Proposal for US Customers

February 13, 2023 1 min read

Crypto lender Nexo has announced that it will no longer be offering its Earn Interest Product (EIP) to U.S. clients, residents, and citizens, effective February 10th. This move comes after the company was fined $22.5 million by the U.S. Securities and Exchange Commission (SEC) for failing to properly register the offer and sale of EIP. In response to the fine, Nexo stated that it would be stopping EIP in eight

Bank of America Embraces Decentralized Finance, Plans for Future Growth

February 9, 2023 1 min read

Bank of America (BAC) has stated in a recent research report that the recent correction in digital asset markets led to a shift in focus and capital from speculative trading to projects with actual functionality. However, the bank believes that decentralized finance (DeFi) currently only “barely scratches the surface.” According to the report, platforms like Gauntlet are driving the evolution of DeFi applications, but regulatory barriers, poor user interfaces, and

BNX to undergo 1:100 split to give major boost of investor confidence for BinaryX games and products

February 9, 2023 3 mins read

Singapore, Singapore, 9th February, 2023 BinaryX, a Gamefi and IGO platform, today announced it will split its token, BNX. The decision was made after the project team ran a DAO vote and received overwhelmingly unanimous support (99.5%) to conduct the split. The exact timeline for the split will be announced on BinaryX’s social media and community channels soon.  BNX is the platform token of BinaryX, and is used as a

Top Protocols Join Forces to Strengthen DeFi Narrative

February 7, 2023 3 mins read

London, United Kingdom, 7th February, 2023 For 24 hours, more than 30 of the top decentralized financial protocols have come together to showcase the open, composable, and permissionless merits of DeFi. More than thirty top projects in the industry are participating in a creative campaign where they extol the interoperable nature of Web3 by “permissionlessly” sharing tweets from other protocols and reinforcing the trustless nature of DeFi.  The participating DeFi

Uniswap Community Votes in Favor of Boba Network Deployment

February 7, 2023 1 min read

Uniswap, the decentralized exchange (DEX) that operates on the Ethereum blockchain, has received the green light to deploy version 3 (v3) of its platform on the Boba Network. This decision was the result of a favorable community vote, and was backed by FranklinDAO and ConsenSys. Boba Network is a separate blockchain that runs on top of Ethereum and offers faster and cheaper user transactions. Uniswap, like other DEXs, operates through

DeFi Hack: Over $180,000 Stolen From CoW Swap

February 7, 2023 2 mins read

The recent hack of the CoW Swap decentralized exchange (DEX) has once again brought attention to the security issues in the DeFi space. The DeFi market has seen billions of dollars stolen in 2022, and 2023 has already seen several incidents, including this one where an attacker was able to siphon over $180,000 in funds from the platform. The attacker used the GPv2Settlement contract and was able to trick the