Covers all aspects of DeFi – Decentralised Financial systems, protocols, and instruments built on blockchain.
Compound Finance’s website, backed by @coinbase and @a16z, was hijacked, redirecting users to a phishing domain. Blockchain sleuth ZachXBT highlighted the issue, stressing the need for robust security in #DeFi. #Update
Terra Classic developer Till Z released the v3.1.0 update to enhance $LUNC staking by diverting 10% of Oracle pool rewards. LUNC staking nears an all-time high with 1 trillion staked and a 20% increase in futures open interest. Trading volume up 40%. #Crypto #Update
1inch Labs launches Web3 RPC API to streamline blockchain development. This tool supports 10 EVM-compatible networks, ensuring stable and reliable interactions without the need for developers to run their own nodes. Enhance your dApp projects with ease. #Update #Web3 #BlockchainDevelopment
EOS Network launches a $127M staking rewards program with 85,600 $EOS tokens distributed daily and an initial 60% APY. Lock-up periods increased from 4 to 21 days. EOS supply capped at 2.1B tokens to boost stability. #Update #CryptoNews
Decentralized finance needs refining to rival traditional banking. DEXs face liquidity fragmentation and volatility, but platforms like Stabble on Solana are improving AMM models and addressing impermanent loss. Greater financial autonomy is on the horizon. #Update #DeFi
Orbs launches its Liquidity Hub on Fenix Finance, enhancing liquidity and capital efficiency for Blast users. This integration promises reduced slippage, gas-free transactions, and MEV protection. Fenix Finance has seen $150M in volume since its Open Beta. #Update #DeFi
Lido has added 100,000 staked ETH amid SEC scrutiny, raising its total to $33.48B. Wrapped staked ETH on Layer 2 networks grew 7.19% with a $1.23B trading volume. #Crypto #Ethereum
The Ethereum Foundation’s email was hacked on June 23, sending scam emails to 35,794 recipients promoting a fake Lido staking scheme. The foundation regained control swiftly, with no funds lost. #CryptoSecurity #Update
ArcBlock’s $ABT token surged 20% to $0.31, driven by a 450% rise in trading volume to $8.3M, thanks to the new “Stake to Publish” feature enhancing security and quality on its platform. #Update #Crypto
.@Aptos_Network proposes deploying @AaveAave’s V3 on the Aptos mainnet, marking its first non-EVM deployment. Benefits include high transaction throughput (30,000 TPS), enhanced security, and cost efficiency. Up to 2M APT in rewards. #Update #DeFi
Starknet Foundation allocates an additional 50M STRK to its DeFi Spring 2.0 program, increasing the total to 90M STRK. The initiative, in collaboration with OpenBlock Labs, aims to boost Starknet’s DeFi ecosystem from July-Dec 2024. #Update
Michael Egorov, founder of Curve Finance, transferred $30M in CRV tokens to Christian Catalini to prevent market instability. He proposed burning 10% of CRV’s supply and introduced a 3-month APY booster for voters. #CRV #Update
Akash Network ($AKT) surged 20% this week to $3.60, while $AAVE rose 18% to $96, and $KAS increased 20.5% to $0.15. Akash’s 50% April boom led to over $1B market cap. #Update #Crypto #Blockchain
New IRS rules mandate crypto brokers to report transactions, including stablecoin and high-value NFT trades, from Jan 1, 2025. DeFi and unhosted wallet guidelines are deferred. 15M users, 5K firms impacted. #CryptoTax #Update
