Proposal 064 seeks to repair the token distribution bug introduced during Proposal 062 once and for all. Compound Finance announced the passing of Proposal 064 on Thursday, titled the “Fix COMP Accrual Bug.” The proposal states that this update will attempt to “patch the bug introduced in Proposal 62 and pessimistically allow COMP reward withdrawals… More
Vee Finance says it suffered a $35-million attack just a few days after launching its mainnet on Avalanche last week. Decentralized finance (DeFi) platform Vee Finance reported $35 million in losses in an exploit, just a few days after launching its mainnet on the Avalanche network.After pausing services due to suspicious activity on Monday, Vee… More
Elizabeth Warren’s office has allegedly confused top 10 DeFi protocol MakerDAO with an early experiment in decentralized autonomous organizations that failed in 2016. Recent dialogue between MakerDAO developers and the office of anti-crypto Senator Elizabeth Warren has revealed a concerning lack of familiarity with the current decentralized finance (DeFi) ecosystem.On Monday, a screenshot appearing to… More
The automated market maker is currently in beta development and set to launch in Q3 2021. Automated market maker MonoX has today announced a debut capital raise of $5 million from venture firms including the likes of Axia8 Ventures, Animoca Brands, Divergence Ventures, among others.MonoX will use the funds to support its ambitions in reducing… More
One third-party explorer puts the number of time-locked Cardano smart contracts over 2,000. More than 200 smart contracts have been listed on the Cardano blockchain explorer following the Alonzo upgrade on Monday — but there’s a catch. As of now, the 200 smart contracts listed are in timelock and cannot be used by developers until they’re… More
Minterest aims to channel all fees, interest and revenue back into the protocol for its users. Decentralized finance (DeFi) protocol Minterest has just secured $6.5 million in funding for a long-term yield optimization platform.The private fundraising round was contributed to by a number of venture capital companies, including KR1, Digital Strategies, Bitscale Capital, PNYX Ventures,… More
Zabu confirmed that the attacker successfully pulled out 4.5 billion tokens in Zabu Farm Contract and stole around $600K. Zabu Finance, a DeFi application on the Avalanche blockchain, has reportedly been exploited for crypto tokens worth $3.2 million. The removal of a large number of tokens eventually reduced the value of Zabu tokens to zero.Zabu… More
More than $1 billion worth of Ether is still locked in the ArbiNYAN yield farm despite the price of its native token crashing more than 90% in 24 hours. Ethereum layer-two rollup network Arbitrum One is beginning to see significant growth, with its total value locked (TVL) surging by roughly 2,300% this past week.According to… More
FRONT, ALGO and PRE rallied in excess of 40% as altcoins capitalize on Bitcoin’s range-bound price action. On Thursday, bulls made a strong showing as Algorand (ALGO) and Solana (SOL) each steamrolled to new highs even as Bitcoin (BTC) continues to flounder under the $47,000 mark. The strong performance from the altcoins gives further credence to… More
As a result of the system bug, a total of 42 NFTs were burned in the course of 30 transactions. Reports have emerged that a bug on OpenSea’s marketplace has deleted user-owned NFTs worth 28.44 Ether (ETH), nearly $100,000 at the time of writing.The information was revealed online by Nick Johnson, lead developer of Ethereum… More
Decentralized finance and gaming represent two of the biggest trends within the cryptocurrency and blockchain industries. Blockchain gamification platform DeFi Land has secured $4.1 million in investments to launch a new decentralized finance game on Solana, further highlighting the growing ecosystem surrounding SOL. The investment round had participation from over 40 investors, including some of the… More
The sixth-largest cryptocurrency by market cap remains one of the best performers despite the overall crypto market losing more than $200 billion. A high-flying Solana (SOL) refused to land even in the face of a brutal sell-off in the cryptocurrency market on Tuesday. Two days later, the price of SOL rebounded to another new all-time… More
The SOL price rally also appeared in the wake of “Ignition,” a global hackathon to build new platforms on the Solana blockchain. Solana (SOL) started Friday at a new record high as investors continued to bet positively on its success in the decentralized finance (DeFi) and nonfungible tokens (NFT) sector.The SOL/USD exchange rate reached $146.28… More
The market for decentralized finance continues to expand rapidly. With over $155 billion in total value locked, DeFi is becoming more attractive for institutional investors. Financial service platform Evrynet has concluded a $7 million fundraiser for its forthcoming decentralized finance app targeting institutional investors, offering further evidence that DeFi has an institutional-grade audience.The private investment… More
SEC boss Gary Gensler believes crypto assets need to act within a public policy framework to survive over the long term. Crypto assets will not last long outside of a public policy framework because “finance is about trust,” warns Gary Gensler, the chair of the United States Securities and Exchange Commission.Speaking to The Financial Times,… More
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