DeFi Archives

Defi platform Era Lend exploited on zkSync, losses $3.4m in assets

July 26, 2023

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied CertiK, a leading blockchain security firm, has issued an urgent Skynet Alert after receiving multiple reports of the defi platform Era Lend falling victim to an exploitation on zkSync. Losses are currently estimated to be around $3.4 million. Another hacking CertiK, a blockchain security technology company that frequently tweets about vulnerabilities, hacks and exploits in the space, identifies the attack as a “read-only reentrancy attack,” strategically targeting the platform’s multi-step processes, allowing the malicious actor to drain the…

Decentralized Finance (DeFi) Headed Toward a ‘Major Resurgence,’ Tribe Capital’s Boris Revsin Says

July 25, 2023

In late 2018, the crowdfunding platform Republic acquired the team behind Game Theory Group and Revsin was brought on to head its new Republic Capital arm, which was distinct from the more consulting and builder-oriented Republic Crypto group. By the time Revsin left in April 2022, Republic Capital had raised more than $600 million, held about $1 billion in assets under management and had invested in more than 80 startups, including Avalanche, Polygon, Blockdaemon and Kraken. Source

SEC reviews Ripple ruling, US bill seeks control over DeFi, and…

July 22, 2023

Top Stories This Week Chair Gensler says SEC reaction to Ripple decision is mixed, still under consideration U.S. Securities and Exchange Commission Chair Gary Gensler has commented publicly about the recent ruling on the agency’s suit against Ripple, saying the SEC is “still looking at it and assessing that opinion.” Gensler declined to comment further on the case, but said the commission is pleased with the court’s decision stating that XRP was a security when sold to institutional investors, but disappointed with the non-security ruling for retail investors and other…

Centralized exchanges will become gateways for DeFi: Finance Redefined

July 21, 2023 boss

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past week in DeFi saw new advancements in zero-knowledge proofs (ZK-proofs) as a scaling solution as more DeFi protocols embraced the technology. A new United States Senate DeFi bill attracted a lot of scrutiny — though not necessarily of the positive kind — as many stakeholders came out to slam the “unworkable” legislation. The CEO of the dydx Foundation made a…

DeFi Project Parrot Puts Fate of Over $70M Treasury, PRT Token, to Vote

July 21, 2023

The redemption plan appears to heavily favor employees and Parrot’s venture investors. Last November, Parrot finance unlocked all remaining team and VC tokens two years ahead of schedule. Community members claim the modified vesting schedule gives these insiders a redemption price of $0.055, 22% higher than the original, public investors. Source

DeFi Lender MakerDAO’s MKR Price Soars as Token Smart Burn Engine Goes Live

July 21, 2023

MKR briefly rose above $1,200 early Friday for the first time since last August, then pared some of its gains to change hands at around $1,148. The token is up 28% over the past week, significantly outperforming the 4.6% decline of the CoinDesk Market Index, which tracks the broader crypto market’s performance. Source

Paradigm Crypto Liquidity Network Leans Into DeFi With StarkWare’s Appchains

July 21, 2023

Paradigm, a separate entity from the venture capital firm of the same name, said Paradex is a hybrid derivatives exchange that combines the liquidity and performance of centralized finance CeFi with DeFi’s transparency, trustlessness and self-custody. Source

How do DeFi projects generate profit?

July 21, 2023 boss

This week’s episode of Cointelegraph’s Market Talks welcomes Alvin Xu, the co-founder and CEO of Maverick Protocol, a platform that is taking a new approach to building decentralized finance (DeFi) infrastructure. Xu has been in the crypto space since 2018, and before co-founding Maverick, he led products and ecosystems across MetaMask, Abra Wallet, BitTorrent and the Tron Foundation. The show kicks off with a discussion about the Ethereum Community Conference in Paris, where Xu was a guest. He gives the inside scoop on all the latest updates and developments from the conference. Capital…

DeFi Protocol Conic Finance Hacked for 1,700 Ether

July 21, 2023

Each Omnipool allocates liquidity of a single asset into different Curve pools. All Curve liquidity provider (LP) tokens get staked on Convex to boost Curve (CRV) rewards earnings. Convex (CNX), another Curve ecosystem token, is also rewarded, as is Conic (CNC), Conic’s native token. Source

Africa-Focused DeFi Platform Mara Releases Testnet for Upcoming Layer 2

July 21, 2023

“Blockchain technology has become a necessary utility and infrastructure that is critical and essential to the development of every country, similar to electricity or the internet,” said Chi Nnadi, CEO of Mara, in an email to CoinDesk. “Opportunities abound in Africa that can be harnessed using blockchain as a technology to deliver widespread utility for African people.” Original Source AfricaFocusedDeFiLayerMARAPlatformReleasesTestnetUpcoming CryptoX Portal