Tag: Platform

DeFi Stablecoin Platform Beanstalk Suffers ~$80M Hack

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Another DeFi platform took a major hit today, as the decentralized, credit-based stablecoin Beanstalk (with it’s stablecoin $BEAN) has broken it’s peg following a roughly $80M hack. Speculation has been left, right and center and a number of sleuths have been tracking the movement of funds and studying the exploit that has likely left Beanstalk Farms in the dust. Let’s look at what we know from the early hours since the hack. Beanstalk Farms’ Hack: What Went Down The transaction on Etherscan shows that the hacker used what’s commonly known…

South Korean Smart Contract Auditing Platform Sooho.io Raises $4.5M

Simultaneously, Sooho.io announced a partnership with Lambda256, a subsidiary of South Korea’s top cryptocurrency exchange by volume, Upbit. Lambda256 – which offers blockchain-as-a-service products – will use Sooho.io’s Kleva and smart contract expertise to launch a decentralized finance (DeFi) ecosystem, according to the press release. Source

CeFi Platform Celsius Restricts Yield Rewards To Only Accredited Investors In U.S.

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Celsius has been positioned as one of the leading yield-generating CeFi platforms on the market, battling neck-and-neck with other dedicated CeFi platforms such as BlockFi and Nexo. Their positioning is seemingly weakened this week, certainly with retail investors, as the platform sent out an announcement to all users and released a public announcement that new funds supplied – even from existing accounts – into Celsius’ platform would no longer be eligible to earn yield unless they are accredited investors. Let’s look at what we know from today’s release, and the…

Belarus-born crypto platform halts operations for Russians in response to invasion of Ukraine

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Crypto trading company Currency.com has announced it halted operations for clients based in Russia following the country’s “violence and disorder” imposed on the people of Ukraine. In a Tuesday announcement, Currency.com said Russian residents would no longer be able to access its services following the platform’s decision to stop Russia-based clients from opening new accounts. According to Currency.com’s website, the Gibraltar-based crypto trading platform has offices in Kyiv, London, and Vilnius, but was previously licensed and headquartered in Belarus. “We condemn the Russian aggression in the strongest possible terms,” said…

Gala Games blockchain platform combines gaming and commerce

Crypto games that combine play-to-earn (P2E) and nonfungible token (NFT) mechanics found a huge boost in 2021, thanks to the success of Axie Infinity and metaverse hype.  However, playability still remains a major problem, as most crypto games focus on tokenomics rather than providing a fun and enjoyable gaming experience.  Apart from the earning aspect, they often offer nothing special compared to traditional PC or console video games, where players can find interesting plots, nice visual effects and addictive gameplay. Axie Infinity has become known for its repetitive gameplay, known…

OVR Announces Partnership With First Blockchain-Independent NFT Platform, NFTrade

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OVR has announced a new partnership with NFT platform NFTtrade. With this new partnership, OVR plans to unlock a world of possibilities for its users in a new way. It will bring the OVRLand NFTs closer to users by allowing them to buy, sell, and P2P trade OVRLand on multiple blockchains. The NFT space is one of the fastest-growing developments of the crypto industry and with good reason. There are currently many numerous platforms on which artists and collectors alike can carry out their activities, each with its own unique…

What Is Duelbits? A Look at the Crypto Casino & Sportsbook Platform

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Duelbits is a cryptocurrency casino and sports betting platform that began operations in February 2020. The platform intends to bridge the gap between bookies and casinos, which are now separated by a large margin. While Duelbits is primarily focused on Crypto gaming, the site also accepts credit cards and PayPal as deposit options, allowing players to deposit using their preferred way. Duelbits’ registration and cryptocurrency payment processes are both instantaneous, and in the vast majority of circumstances, no KYC verification is required. This allows you to begin playing Duelbits right…