Tag Archives: defi

DeFi Saver, a leading platform in decentralized finance (DeFi) management, has announced its integration with Sky Protocol, marking a significant milestone in the DeFi sector. This upgrade is scheduled for September 18th and is to enable the stablecoins $SKY and $USDS, as well as several new features for the financial products in Sky Protocol ecosystem. In the latest update on X, Sky Protocol stated that the integration with DeFi Saver will include some distinctive features intended for...

TL;DR Some of the DeFi projects making the list include Synthetix, Uniswap, and Osmosis. The methodology for measuring development activity focuses on filtering meaningful programming events across blockchains, emphasizing community size and other factors. The Same Leaders Crypto analytics platform Santiment recently estimated the top 10 Decentralized Finance (DeFi) projects in terms of monthly development activity. Synthetix Network, with an index of 266.57, takes the first...

An MEV bot conducted 14 transactions in a single block to launch a sandwich attack on an unsuspecting user to only net $20 in profits. A Maximum Extractable Value (MEV) bot found an opportune moment to execute a $12 million flash loan to conduct a sandwich attack on an unsuspecting user. However, the ordeal only netted it a meager $20 in profits after gas fees through the flash loan exploit. The incident offered comic relief to many in the crypto community during a period when high-profile...

The person behind 2023’s Euler Finance hack has congratulated the Penpie exploiter after the latter moved the bulk of the funds they stole to Tornado Cash. The Penpie thief transferred the money even as the decentralized finance (DeFi) platform pleaded for the funds to be returned in exchange for a bounty. The $27M Penpie Protocol Hack On Sep. 6, blockchain security company Peckshield made a post on X featuring the Euler Finance exploiter’s message to the Penpie protocol...

Decentralized Finance (DeFi) platform Penpie, built on the Pendle network, reportedly suffered a major exploit on September 3, 2024. According to the real-time on-chain monitoring system Cyvers Alert, the hack led to the loss of at least $26 million in various wrapped and synthetic crypto assets. Details of the Attack Emerge The security surveillance company stated that the attack on Penpie was initiated by a smart contract that had been initially funded to the tune of 10...

Matter Labs reduces its workforce by 16% in response to market and business changes. The company promotes decentralization and operational efficiency. Matter Labs, the key developer of Ethereum’s layer 2 scaling technology ZKsync, is laying off 24 employees, or 16% of its staff. This is the first time the organization has had to make such reductions since it was founded in 2018. Restructuring to Meet Evolving Needs The employment reduction is part of a larger organizational reform aimed at...

Nexo’s new onboarding process follows FCA requirements, improving user risk awareness. The platform’s 10-month halt allowed for a full modify to meet UK regulatory standards. Nexo, a centralized cryptocurrency lender, has restarted client registrations in the United Kingdom after a 10-month halt. The delay was first triggered in December 2023 owing to changes in regulatory requirements. Nexo has now improved its operations to satisfy Financial Conduct Authority (FCA) compliance standards,...

The SunPump community changed its mind about an LP burning mechanism, instead opting for an on-chain buyback and burn mechanism, which Justin Sun agreed to. After hearing the SunPump community out, Justin Sun has decided to implement a 100% on-chain buyback and burn mechanism for the SUN token, memecoin generator SunPump’s native asset. While the initial decision was to integrate an LP token burn mechanism, the community decided against it for various reasons, pushing Sun to choose the...

Threshold has proposed a merger of its tBTC token with WBTC as the industry is concerned for the latter’s future. Threshold, a protocol offering a decentralized version of wrapped bitcoin through its tBTC token, has proposed a merger with BitGo’s WBTC token in an effort to “save” the biggest wrapped bitcoin token by market cap. WBTC’s future has become concerning for the crypto community after BitGo partnered with Hong Kong-based BiT Global to expand its foothold beyond the United States....

Cardano introduces the Chang hard fork, a step towards decentralized governance. The new governance system includes DReps and a tricameral layout to ensure balanced decision-making. The Cardano blockchain has taken an immense step toward decentralized governance with the release of the Chang hard fork. At 10:44 p.m. London time on Sunday, Cardano began handing control of its $13 billion blockchain to holders of its native ADA coin. This is the first stage of the blockchain’s shift to a fully...