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🚨 DeFi Protocol DeltaPrime Suffers $5.9 Million Loss in Private Key Exploit
Crypto cybersecurity firm Cyvers has reported a security incident affecting DeltaPrime, a decentralized finance (DeFi) protocol on the Arbitrum network. According to a tweet from Cyvers, the ongoing incident resulted in an initial estimated loss of $4.5 million—subsequently updated to $5.93 million as a “suspicious address” continued to drain funds from DeltaPrime’s liquidity pools.
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/channel/DeFi_Ethereum
🇺🇸 Trump to launch #DeFi protocol next Monday
Former President Donald Trump announced plans to launch “World Liberty Financial,” a decentralized finance (DeFi) protocol, next Monday, September 16, at 8 pm via Twitter Spaces. In his tweet, Trump declared his intention to embrace crypto and leave “slow and outdated big banks behind,” marking a significant shift from his previous skepticism towards digital currencies.
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/channel/DeFi_Ethereum
🪙 DEX wars heat up as Uniswap's dominance slips to 36% amid rising competition
The DEX landscape is undergoing some diversification, with Uniswap's once-dominant market share facing a steady erosion. This change-up in market share could signal more competition and innovation in decentralized trading. Uniswap's market share has dropped from more than 50% in October 2023 to 36% today.
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/channel/DeFi_Ethereum
🔵 AAVE Tops DeFi as Market Survives Bearish August
August was a bearish month for the cryptocurrency market, especially because of the Aug. 5 decline. While the market attempted to recover the rest of the month, another downturn followed in the final week of August. Nevertheless, some categories and projects within them have been more resilient than others. More specifically, the Decentralized Finance basket fell by single digits, while its best performer, Aave (AAVE), had a positive rate of increase.
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/channel/DeFi_Ethereum
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🚨 Hacker praised after $27M crypto heist from Penpie DeFi protocol
The hacker responsible for stealing $27 million in crypto from the decentralized finance (DeFi) protocol Penpie received an appreciation message from a fellow criminal. On Sept. 3, Penpie suffered an exploit that led to the loss of digital assets worth $27 million. In response, the DeFi platform suspended deposits and withdrawals. Less than a day after the hack, the Penpie hacker sent $7 million in assets to the crypto mixer Tornado Cash.
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/channel/DeFi_Ethereum
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📊 Streamlining DeFi lending with cross-chain functionality: X Spaces with Nolus Protocol
While DeFi lending shows growth and offers exciting opportunities, its challenges may hinder mainstream adoption. Kamen Trendafilov, a co-founder of Nolus Protocol, discussed the topic at the recent Cointelegraph X Spaces. Trendafilov believes that the market’s potential is restricted by the overabundance of locked-up collateral since it wastes capital that could be used to minimize counterparty risk.
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/channel/DeFi_Ethereum
💰 Bitcoin DeFi Protocol Seeks to “Save” WBTC from Justin Sun
Threshold, a Bitcoin DeFi protocol with a $212 million market capitalization, has proposed to merge its tBTC token with wrapped Bitcoin (WBTC) in an effort to “save” WBTC from falling into the wrong hands amid a looming change in WBTC’s custody model. The proposal comes after a recent move by BitGo – the custodian behind WBTC – to join forces with BiT Global, a Hong Kong-based company with deep ties to controversial Tron founder Justin Sun.
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/channel/DeFi_Ethereum
📣 BounceBit to Launch CeDeFi V2 Platform with Modifications for DeFi and Gaming
BounceBit (BB) is getting ready to launch BounceBit V2 in September 2024, which will make significant changes to its centralized decentralized finance (CeDeFi) infrastructure and BounceClub. The new version aims to improve user experience through the inclusion of innovative features from the decentralized finance (DeFi), artificial intelligence (AI), and gaming sectors.
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/channel/DeFi_Ethereum
📊 DeFi protocol Threshold proposes Bitcoin wrapper merger to ‘save WBTC’
Bitcoin decentralized finance (DeFi) protocol Threshold is proposing to merge its own BTC “wrapper” token, tBTC, into Wrapped Bitcoin (WBTC) in a bid to “save WBTC” following concerns about an impending change in control of the popular BTC wrapper, according to an Aug. 29 proposal in Threshold’s governance forum.
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/channel/DeFi_Ethereum
📣 DeFi network Radix team cuts 15% of staff, citing need to ‘refocus’
RDX Works, the team behind the Radix decentralized finance (DeFi) platform, has axed 15% of its workforce, citing a need to lower costs. The Radix network launched its mainnet in July 2023 and offers developer tools to build and run decentralized applications (DApps) and financial services on the blockchain. Piers Ridyard, the company’s CEO, confirmed in an Aug. 29 statement in the company’s official Telegram group that the staff cuts are to “refocus” and are part of a “more comprehensive set of changes that need to be made.”
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/channel/DeFi_Ethereum
🐴 Uniswap and Across propose new Ethereum token standard to tackle liquidity fragmentation
Uniswap Labs and cross-chain interoperability provider Across Protocol have proposed a new Ethereum token standard for cross-chain intents to address liquidity fragmentation challenges. The new standard is under Ethereum Request for Comment 7683 (ERC-7683) and aims to establish a unified framework for specifying cross-chain actions in intents-based systems. Intents are automated blockchain interactions based on the user’s desired outcome, excluding the need for specific knowledge.
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/channel/DeFi_Ethereum
📊 DeFi Yield Aggregator Lulo Hits Record TVL Fueled by PayPal’s Stablecoin
Lulo, a Solana-based yield aggregator, saw its total value locked (TVL) double since the beginning of August to reach a record $38.7 million. The yield aggregator launched at the beginning of the year and has continued to grow even during DeFi market downturns. During the last month alone, Lulo’s TVL has surged by over 120%, becoming the best performer among yield aggregators – a subsector led by Ether.fi Liquid, Beefy, and Yearn Finance.
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/channel/DeFi_Ethereum
📣 DeepBook Enhances DeFi Capabilities with Version 3 Launch
DeepBook has launched its latest version, Version 3, on the Sui Testnet, bringing significant improvements aimed at enhancing its utility for decentralized finance (DeFi) protocols, according to The Sui Blog. Among the notable advancements in DeepBook Version 3 are the substantial reduction in gas fees, dynamic trading fees, and a new capital-efficient order management system for market makers.
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/channel/DeFi_Ethereum
🥇 DeFi Lending Giant Sky Sets Vote to Offload Wrapped Bitcoin as Justin Sun Concerns Linger
Sky, the decentralized finance lender formerly known as MakerDAO, will vote on fully ditching wrapped bitcoin (wBTC) from its ecosystem, according to a Thursday governance post, potentially a major development in DeFi since the platform has $200 million of loans collateralized by the token. WBTC is a token that allows investors to use bitcoin (BTC) on other blockchains, and plays a key role in lending DeFi as collateral, with a $9 billion market capitalization.
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/channel/DeFi_Ethereum
🇺🇸 Lawmaker Criticizes Biden-Harris Administration's Approach to Defi Regulation
House Financial Services Subcommittee Chairman French Hill emphasized the need to understand decentralized finance technologies during a hearing. He criticized the Biden administration’s regulatory approach and urged Congress to keep discussions open on supporting defi innovation. Hill noted that current regulatory frameworks were created for a system reliant on centralized intermediaries, not the decentralized, peer-to-peer ecosystem enabled by digital assets and blockchain.
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/channel/DeFi_Ethereum
📣 Ether.fi Launches Crypto Credit Card with Scroll’s ZK Tech
Ether.fi, a prominent player in the restaking sector, has announced an exciting new partnership with Scroll, a cutting-edge layer-2 blockchain using zero-knowledge (ZK) rollup technology. Ether.fi plans to launch its credit card, ether.fi Cash, and introduce a lending and borrowing marketplace. Scroll, which has been operational since October 2023, has seen its total value locked (TVL) surge from $556 million to $676 million in recent months. This impressive growth reflects the increasing interest in its efficient, low-cost transaction capabilities.
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/channel/DeFi_Ethereum
📊Penpie crypto DeFi protocol exploiter successfully laundered all $27M ETH
Penpie Crypto DeFi Protocol is an averagely popular decentralized finance (DeFi) platform designed to enhance liquidity provision and yield farming in the crypto ecosystem. Built on the Pendle Finance protocol, Penpie focuses on maximizing yield for its users by allowing them to split and trade yield-bearing assets. With a user-friendly interface and advanced features, Penpie aims to offer a flexible and efficient DeFi experience.
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/channel/DeFi_Ethereum
❄️ TON Foundation Pumps $24 Million into Fueling DeFi on Telegram-Linked Network
The organization that supports The Open Network, Telegram’s blockchain of choice, announced on Friday that it has contributed another $24 million worth of Toncoin (TON) to its DeFi incentive program, bringing the program’s total value to over $75 million to date. The TON Foundation originally created the program in April to encourage users to engage with decentralized finance (DeFi) applications on TON—a network that has become prominently known for popular crypto-backed games on Telegram and corresponding airdrops.
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/channel/DeFi_Ethereum
📊 DeFi and social dApps lead in monthly unique wallets for August – DappRadar
DeFi and social dApps saw a notable rise in daily unique active wallets (dUAW) in August, as the overall dApp industry hit a record 17 million average dUAWs, up 9% from the previous month, according to a DappRadar report. Decentralized exchanges Raydium and Uniswap v2 had 18.8 million and 4.8 million monthly unique active wallets, respectively, in August, granting them the second and fourth most active applications in the blockchain sector in the period.
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/channel/DeFi_Ethereum
🇺🇸 Trump family’s DeFi project wants to ‘ensure US dollar dominance’
While not much is known about the Trump family’s crypto project — the latest statement from World Liberty Financial suggests it wants to spread the use of United States dollar-pegged stablecoins in decentralized finance. In a Sept. 4 statement to X, the yet-to-be-launched decentralized finance (DeFi) platform claimed one of its key goals was to drive the "mass adoption of stablecoins and decentralized finance."
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/channel/DeFi_Ethereum
🚨 DeFi Protocol Penpie Exploited for $27M of Crypto Assets; PNP Token Craters 40%
Decentralized finance (DeFi) protocol Penpie, built on top of tokenized yield platform Pendle, suffered an exploit on Wednesday, crypto observers reported. The alleged exploiter drained roughly $27 million of crypto assets including various types of staked ether (ETH), Ethena's sUSDE and wrapped USDC stablecoin from the protocol, blockchain data shows. Later, it converted the proceeds to ETH using predominantly Li.fi and forwarded to asset to a new address, according to Etherscan data.
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/channel/DeFi_Ethereum
🪙 Ethereum Still Holds the Lion’s Share of Defi TVL as Tron and Solana Rise
Currently, the total value locked (TVL) in decentralized finance (defi) stands at $82.2 billion, with Ethereum hosting a commanding 57.24% of that amount. Hot on its heels, Tron and Solana take the second and third spots for the largest TVLs today. Despite ethereum (ETH) facing challenges against bitcoin (BTC) and solana (SOL) throughout 2024, its network remains the reigning champion in the world of defi value.
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/channel/DeFi_Ethereum
📊 SOFA.org Hosts AMA on The Future of DeFi Settlement
SOFA.org, a decentralized and non-profit DAO developing a decentralized clearing protocol, was joined by Mr. John Cahill, COO of Galaxy Digital Asia, to discuss the project's long-term value-proposition as an industry-wide settlement system, and its secure suite of on-chain structure products. The panel was moderated by the Real Moonlight Show on Binance Live.
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/channel/DeFi_Ethereum
📣 Weje.com Launches Revolutionary DeFi Gaming Platform on Polygon (MATIC)
Weje.com, a pioneering force in the decentralized finance (DeFi) gaming industry, is proud to announce the launch of its innovative peer-to-peer gaming platform. Built on the Polygon (MATIC) network, Weje.com is set to transform the online gaming experience by leveraging the power of blockchain technology to offer secure, transparent, and efficient gameplay.
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/channel/DeFi_Ethereum
🔵 Aave To Onboard BUIDL Shares As Collateral For GHO
On Aug. 26, Aave Labs, the team behind Aave, the largest DeFi lending protocol, published a preliminary temperature check proposal advocating for the inclusion of shares in the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) to the collateral assets backing its stablecoin, GHO.
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/channel/DeFi_Ethereum
💰 Fordefi Unveils First Institutional-Grade MPC Wallet for DeFi on Sui
Fordefi’s comprehensive platform and Web3 gateway provide an enterprise grade solution enabling builders, traders, and operators to self-custody their private keys, seamlessly connect to thousands of decentralized applications (dApps) across any blockchain, and manage digital asset operations with granular policies and a unified interface.
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/channel/DeFi_Ethereum
🟢 Maker DeFi lending protocol rebrands to Sky ahead of USDS stablecoin launch
Maker protocol has officially rebranded to Sky and unveiled the name of its upgraded stablecoin and native governance token in an effort to make decentralized finance (DeFi) accessible to the masses. As part of its rebranding efforts, Maker, the longest-standing DeFi lending protocol, has rebranded the world’s largest decentralized stablecoin, Dai, into USDS.
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/channel/DeFi_Ethereum
🪙 Vitalik Buterin responds to criticism that Ethereum ‘doesn’t care’ about DeFi
The Ethereum co-founder Vitalik Buterin has spent some time responding to accusations over the weekend that he “doesn’t care” about decentralized finance. These viewpoints began to particularly populate crypto social media spaces over the past weekend as Kain Warwick, the inventor behind the concept of yield farming, made an appearance on a popular crypto online talk show on Aug. 23.
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/channel/DeFi_Ethereum