DeFi

Immunefi Researcher Saves $200 Million from Being Stolen on Three Polkadot Parachains

January 6, 2023 1 min read

A security researcher known as pwning.eth discovered and reported a software vulnerability that could have been exploited to steal up to $200 million from three Ethereum-compatible parachains on the Polkadot network. The vulnerability was found in a program called Frontier that is used for “wrapping” native tokens on the Moonbeam, Astar Network, and Acala parachains. Wrapping is the process of converting native crypto assets into tokens that can be more

SushiSwap to End Support for Kashi and MISO Platforms

January 2, 2023 1 min read

Decentralized exchange SushiSwap, has announced that it will be discontinuing two of its offerings—the Kashi lending platform and the MISO token launchpad—due to their poor design and lack of resources. SushiSwap CTO, Matthew Lilley, stated that the company will transition away from these offerings in Q1 2023 and focus on its core decentralized exchange, which has $390 million in total value locked. The Kashi platform, introduced in March 2021, allowed

Lido Finance Surpasses MakerDAO as the DeFi Leader in Total Value Locked

January 2, 2023 1 min read

Lido Finance, a decentralized finance (DeFi) protocol, has seen its total value locked (TVL) rise to the top since Ethereum’s merger in September. As of now, Lido’s liquid staking protocol has a total market cap of $5.96 billion in TVL, surpassing both MakerDAO’s $5.91 billion and AAVE’s $3.26 billion, according to DeFiLlama. Lido’s approach eliminates the need for users to put up the standard 32 ETH minimum to participate in

SushiSwap CEO Proposes New Token Economics to Overcome Liquidity Shortage

January 1, 2023 1 min read

SushiSwap CEO Jared Grey has proposed changes to the token economics of the SUSHI token in an effort to address the liquidity crunch facing the protocol. On December 6, Grey announced that the project’s treasury had a runway of just 1.5 years, leading to a proposal that 100% of fees earned by SushiSwap be redirected to Kanpai, the project’s treasury, for one year or until new token economics are introduced.

DeFi Hacks Result in Loss of $1.5 Billion in 2022’s Top 5 Cryptocurrency Attacks

January 1, 2023 1 min read

The cryptocurrency industry faced significant difficulties in 2022, with various companies experiencing financial difficulties and even bankruptcy. In addition, over $3 billion was reportedly stolen from crypto projects this year, according to Forbes. These setbacks have caused turmoil in the industry and raised concerns about its stability. The report indicates that more than 125 hacks occurred, with the top five (all involving decentralized finance (DeFi) protocols) accounting for $1.48 billion

Trader Joe decentralized exchange is deploying Avalanche DEX on Arbitrum

December 2, 2022 1 min read

Trader Joe, a decentralized exchange, is going live on the Ethereum scaling network Arbitrum. Since the company’s founding in 2021, this is Trader Joe’s first deployment on a new chain. According to DeFiLlama, Trader Joe has the highest overall trading volume across all applications on Avalanche, but this volume has significantly decreased since June. In the coming days, Trader Joe will launch on Arbitrum’s testnet, with a mainnet launch anticipated

Exclusive Interview with Adenle Mayowa, a crypto and Business Risk Analyst for a startup project

November 22, 2022 3 mins read

My name is Adenle Mayowa, I am a cryptocurrency and business risk analyst for a startup project. I am also a blockchain enthusiast. When did you start your journey into cryptocurrency? I began in 2017 as a trader. I was able to use my skills in technical and fundamental analysis to trade crypto thanks to my experience in FOREX trading. I gradually started reading more about blockchain technology and its

DeFi exchange, backed by Wintermute Bebop is now available on Polygon and Ethereum

November 9, 2022 1 min read

Bebop is debuting on Polygon for all users after rolling out a whitelisted service for traders on Ethereum over the summer. Bebop will be designed to draw newcomers to the industry even though the platform is supported by Wintermute, an institutional-grade market maker in the decentralized finance space. It intends to accomplish this through a few crucial features. First off, there are only a few buttons available to users on

PNetwork bridge drains over $4.3 million in tokens that it had issued on its bridge

November 4, 2022 2 mins read

According to on-chain analysis by security firm BlockSec, the “white hat” exploit was carried out today after the team claimed to have discovered a “misconfiguration” in the token’s smart contract. The pNetwork developers attempted to outrun any malicious hackers by “draining” pgala tokens stored in PancakeSwap pools. These pNetwork-issued tokens are a 1:1 tokenized version of the gala tokens used in the play-to-earn project Gala Games. The tokens are issued

Goldman Sachs partners with MSCI and Coin Metrics to launch a framework for digital assets

November 4, 2022 1 min read

Multinational investment bank Goldman Sachs is collaborating with MSCI and Coin Metrics to launch a framework for digital assets. Datonomy, a new data feed that will allow investors to monitor trends in the crypto and DeFi markets, is being developed by Goldman Sachs, MCSI, and Coin Metrics. According to a press release, Goldman Sachs is collaborating with other companies to develop a framework for digital assets. The framework demonstrates that

Sushi DAO will be divided into 3 entities as per new legal structure

October 26, 2022 1 min read

Sushi DAO’s DAO governance and protocol administration will be divided among three new entities. Sushi DAO, the community in charge of the decentralized exchange (DEX) project SushiSwap, has approved a new legal structure that will establish three new corporations to operate the DAO and the protocol. SushiSwap’s management is now split between a DAO comprised of community members with voting rights and a project team that maintains the protocol. This

DeFiLlama rolls out Delta Neutral Yields for great DeFi yield farming opportunities

October 24, 2022 1 min read

DeFiLlama, a DeFi data platform, has created a new tool to help token farmers identify more yielding farming possibilities. Delta Neutral Yields, a product that DeFiLlama has been working on for months, was announced on October 23. The technology searches the platform’s enormous database for possibilities where users can borrow tokens to farm with. It says that with the new approach, yields of more than 20% are possible with BTC,