Tag: Token

dYdX Initiates Token Migration Following Layer-1 Blockchain Inception

Antonio Juliano, the founder of dYdX, announced on Twitter on 28 October 2023, regarding impending substantial transfers of $DYDX tokens in the following days. This alert is in alignment with dYdX Trading Inc. and other locked token holders’ plans to migrate tokens to the dYdX Chain, which will be recorded as transfers on both Ethereum and the dYdX Chain. It’s pertinent to note that these tokens will remain locked and are not slated for sale. Following Juliano’s announcement, the dYdX Foundation provided further details, anticipating large internal movements of the…

9 protocols criticize LayerZero’s ‘wstETH’ token, claiming it’s ‘proprietary’

boss

A new bridged token from cross-chain protocol LayerZero is drawing criticism from nine protocols throughout the Ethereum ecosystem. A joint statement from Connext, Chainsafe, Sygma, LiFi, Socket, Hashi, Across, Celer, and Router on October 27 called the token’s standard “a vendor-locked proprietary standard,” claiming that it limits the freedom of token issuers. Today, we’re announcing a unified call for Open Bridge Standardsalongside @AcrossProtocol @CelerNetwork @ChainSafeth @buildwithsygma @lifiprotocol @SocketDotTech @routerprotocol and @hashialliance pic.twitter.com/D4CLw2lBD1 — Connext (@ConnextNetwork) October 27, 2023 The protocols claimed in their joint statement that LayerZero’s new token is…

Audits and rug-pulled projects, a $650B token burn, and major DeFi protocol quits UK: Finance Redefined

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 was filled with bullish resurgences for many projects, but it was the Uniswap founder’s $650 billion HayCoin (HAY) burn — 99% of the token supply — that grabbed headlines. In other news, a new report highlighted that 85% of the rug-pulled DeFi projects in Q3 didn’t report an audit, and the largest DeFi protocol on Solana has…

Polygon Initiates POL Token Upgrade on Ethereum Mainnet

Following the announcement of the transition, MATIC experienced a 4% drop in its price, resulting in a reduced market capitalization of $5.8 billion.  Polygon, a renowned blockchain scaling platform, reaches a pivotal moment in its evolution with the initiation of the POL token upgrade on the Ethereum mainnet. Months of meticulous development, community involvement, and a successful testnet launch have led to this remarkable milestone, solidifying Polygon’s commitment to building the Value Layer of the Internet. The Polygon (POL) Upgrade This new token, which has recently gone live on the…

Scammers exploit Bitcoin ETF hype with fake IBTC token

boss

Crypto investors have fallen victim to a scam token, which shares the same ticker as BlackRock’s legit ETF. BNB Chain-based iShares Bitcoin (IBTC) token has scammed investors for nearly $90,000 worth of crypto as the crypto community is abuzz with spot bitcoin exchange-traded fund (ETF) excitement. According to an X post from a blockchain analytics firm PeckShield, a bad actor has swapped one quadrillion IBTC tokens for 394.8 Binance Coin (BNB) worth of $89,000 through PancakeSwap, with IBTC’s price immediately dropping by 100% from $0.0025. Once the scammer swapped IBTC…

Polygon Plans to Replace MATIC by Unveiling POL Token Contract on Ethereum

Polygon Labs called the launch of the Polygon token a major milestone on the Polygon 2.0 journey toward building the Value Layer of the Internet. In an announcement on Wednesday, October 25, Polygon Labs announced the launch of its new Polygon Token, POL, on the Ethereum blockchain network. The POL token’s purpose is to succeed the MATIC token as the next-generation, highly efficient ecosystem for Polygon. This ecosystem encompasses the primary Polygon blockchain, the Polygon zkEVM network, and several supernets. In its press release, Polygon Labs said that this is…

JPMorgan Handles $1B Daily Transactions In Digital Token JPM Coin: Bloomberg

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…

Uniswap Foundation’s Unexpected $43 Million Token Sale: What’s Going On?

boss

The spotlight has recently turned towards the Uniswap Foundation following notable shifts in its holding patterns. Uniswap Foundation, which backs the development and expansion of the Uniswap (UNI) protocol, made headlines for its sale of the platform’s native tokens.  Uniswap’s UNI token has maintained its position as a prominent digital asset in decentralized finance (DeFi). Yet, the recently reported sale by the foundation responsible for its proliferation raises questions regarding its long-term strategy and the implications for the wider UNI ecosystem. $43 Million Uniswap Token Sale Capture Attention Recent data…

Scammer steals $743k in fake Linea token rug pull

A new rug pull scam sees users lose several thousands of dollars to a fake Linea token project.  Blockchain security analyst Certik identified a latest rug pull scam, as a fake Linea token project that scammed users out of nearly $743,000. Victims have stated that the scam was potentially conducted by a Russian user named ‘AltLex,’ who was promoting the token on social media.  #CertiKSkynetAlert 🚨 We have seen an exit scam on a fake Linea token Eth: 0x00000000fEB6A772307C6aA88AB9D57b209aCb18 ~$743k has been deposited into Tornado Cash Victims report that the…