Polkadot-based decentralized gaming platform Ajuna Network has raised $7 million from industry investors through private and seed funding rounds. The platform intends to use the fresh capital to develop its network and suite of tools, integrating better game engines and off-chain game operators. Ajuna’s goal is to enhance gamers’ experience through blockchain and non-fungible tokens...Read More
Blockchain scaling platform Dymension announced the completion of a $6.7 million fundraiser in a private round led by several investment firms and angel investors. According to a press release seen by CryptoPotato, American crypto-focused VC Big Brain Holdings and multi-strategy VC Stratos led the private investment round, with participation from Shalom Meckenzie of DraftKings, on-chain...Read More
Shared liquidity protocol dPRIME Asset Modules Finance (DAM Finance) has launched its mainnet, enabling users to “teleport” their liquidity across several blockchain networks. According to a press release, the decentralized, multichain liquidity infrastructure layer is currently live on Ethereum and Moonbeam. DAM Finance Unveils Multichain Liquidity Layer DAM’s global shared infrastructure offering would allow users...Read More
StarkWare – an Israeli company focused on Ethereum scaling – joined forces with the Web3 services platform – Chainlink – to expand development on StarkNet. The collaboration will also build an economic network between the two entities. ‘Enabling a Next-Generation Web3 Applications’ According to a document seen by CryptoPotato, StarkWare will officially join the Chainlink...Read More
Crypto venture firm a16z has used its 15 million UNI token voting block to vote against a proposal that would use the Wormhole bridge for Uniswap V3 deployment on BNB Chain. According to the ongoing results of the proposal vote, a16z’s overwhelming token stash enabled it to control around half of the votes so far,...Read More
The Web3-oriented Venom Ventures Fund (VVF) invested $5 million in Everscale to aid its expansion efforts. The fund saw the light of day earlier last month after collaborating with the Abu Dhabi-based Iceberg Capital Limited and Venom Foundation. The ‘Strategic Investment’ According to a document seen by CryptoPotato, VVF’s financing aims to support the Web3...Read More
Open source and decentralized protocol ssv.network DAO has launched a $50 million Ecosystem Fund dedicated to supporting the development of Distributed Validator Technology (“DVT”) based applications. According to a press release shared with CryptoPotato, the project secured the funds from various industry investors, including DCG, OKX, HashKey, NGC, Everstake, HackVC, GSR, Chorus.One SevenX, and 1kx....Read More
Crypto’s newest narrative is liquid staking, as platforms and tokens have been taking off recently. Ethereum will go through the Shanghai upgrade in March, which releases ETH staked on the Beacon Chain. Industry analysts believe this will be good news for liquid staking protocols as they offer better incentives and yields. As opposed to direct...Read More
Astar Network – a smart contract innovation hub that connects the Polkadot ecosystem to all Layer 1 blockchains – launched its Cross-Virtual Machine (XVM) on the public testnet Shibuya. It enables projects building on Astar to interact with other smart contract ecosystems, including the WebAssembly (WASM) and Ethereum Virtual Machine (EVM). Enter the XVM According...Read More
Leading decentralized lending protocol MakerDAO has lost its dominance in the DeFi market as liquid staking protocol Lido Finance claimed the top spot with the highest total value locked (TVL). According to data from the DeFi market aggregator, DeFiLlama, Lido Finance currently has $5.9 billion in TVL, with MakerDAO and AAVE taking second and third...Read More
Cryptocurrency firms struggled greatly in 2022, with multiple companies facing financial issues and bankruptcy. In addition to these challenges, over $3 billion was stolen from crypto projects this year, according to Forbes. These setbacks have caused turmoil in the industry and raised concerns about its stability. According to the report, crypto projects witnessed more than...Read More
The popular DEX aggregator announced the launch of Fusion, which focuses on the 1inch Swap Engine and aims to enhance user experience with DeFi swaps. The team behind the project promised to deliver “almost limitless” liquidity and maximum user protection. The press release shared with CryptoPotato informed that 1inch Swap Engine “facilitates Fusion, which empowers...Read More
Decentralized exchange aggregator – 1inch – announced the launch of a tool called “Rabbithole.” According to the press release shared with CryptoPotato, the new feature is designed to protect MetaMask traders swapping on the 1inch platform against “sandwich attacks” – a type of front-running attack usually applied over transactions sent to a DEX to buy...Read More
The collapse of crypto exchange FTX appears to have sparked surging sales for self-custodial crypto wallets which give users direct ownership of their coins. SafePal, a Binance-backed crypto wallet brand, has experienced a 10x surge in traffic to its platform since November 11th, and its hardware wallet has made record sales within that time. SafePal...Read More
Reports are emerging this morning of an attack on the TempleDAO yield farming protocol. The alert came in from blockchain security firm PeckShield on Oct. 11, stating that the attacker had transferred 1,831 ETH worth around $2.34 million from the protocol. Details are thin on the ground at the moment, but the exploit appears to...Read More
Binance has announced a pause across the entire Binance Smart Chain (BSC or BNB Chain) following what appears to be one of the largest exploits in DeFi history. An attacker has reportedly hacked another BNB chain user for 2 million BNB, worth $600 million. Another DeFi Catastrophe According to BNB Chain on Twitter, the “temporary”...Read More
Sovryn – a Bitcoin-based decentralized finance protocol – was drained of over $1 million in funds on Tuesday using a price manipulation exploit. The attack allowed the culprit to drain over $1 million worth of crypto from the protocol, including 44.93 RBTC and 211,045 USDT. Sovryn’s First Hack According to Sovryn’s blog post on the...Read More
Ethereum layer-2 protocol Boba Network has announced the launch of its L2 scaling and augmenting solution on the Avalanche blockchain. In a press release shared with CryptoPotato on Wednesday, Boba noted that the latest integration with Avalanche would further boost its status as a leading L2 scaling solution and provide developers network with a new low-cost...Read More
On September 19, Arbitrum, one of the most popular Layer 2 solutions for Ethereum, paid 400 ETH (about $560,000) to a white hat hacker who found a potential vulnerability in its code. The white hat hacker, known on Twitter as Riptide, finds vulnerabilities within smart contracts written in Solidity. Riptide said the “multi-million dollar vulnerability”...Read More
Decentralized finance (DeFi) platform Cake DeFi will set up a global R&D hub called Birthday Research to develop best-in-class technologies for the blockchain and digital asset sectors. The project said its initial budget will be set at $50 million. Cake DeFi’s Research Hub Based in Singapore, Birthday Research will have a budget of $50 million...Read More
Polkadot’s decentralized finance (DeFi) hub Acala suffered a major attack on its newly launched liquidity pool on Sunday. The exploit allowed the hacker to mint more than 1.2 billion aUSD, the project’s stablecoin. Shortly after the hack, the Acala team updated users on Twitter, noting that the exploit originated from a “misconfiguration of the iBTC/aUSD...Read More
Polkadot’s innovation hub Astar Network has partnered with DeFi network Acala to boost decentralized finance (DeFi) by unlocking new opportunities and rewards for developers in the Polkadot ecosystem. The two entities have joined forces to launch a new DeFi program dubbed “Astar x Acala DeFi Rising.” The DeFi Rising Program According to a press release...Read More
Blockchain staking infrastructure provider Ankr has launched its new Staking software development kits (SDKs), allowing developers to integrate liquid staking on their projects across multiple networks. Liquid staking allows users to delegate their tokens to a validator that stakes the asset on their behalf without losing access to their funds. In other words, it is...Read More
Singapore-based fintech platform Cake DeFi has partnered with Razer Silver, a loyalty rewards program for gamers, to provide them with easy access to various crypto assets, including bitcoin (BTC) and ether (ETH). Cake DeFi Partners Razer Silver According to a press release shared with CryptoPotato, the multi-faceted deal will allow Razer Silver gamers to convert...Read More
The first half of 2022 was a bumpy ride for crypto investors. With the crypto market still bleeding, investors are bemoaning losses as the DeFi market cap fell by over 74% in the second quarter of the year, according to CoinGecko. Terra’s Ripple Effect on DeFi The crypto data aggregator recently published its Q2 2022...Read More
Web 3 security firm Beosin recently released its 2022 Q2 Web 3 Security Report, analyzing the latest hacks and exploits to impact the blockchain sphere. It found that over $718 Million were lost to related schemes during that time – most of which occurred in the defi space. Breaking Down the Numbers The report –...Read More
Multichain, previously known as Anyswap, has announced integration with RSK blockchain, a Bitcoin merge-mined smart contracts platform. According to the press release shared with CryptoPotato, the integration aims to facilitate the transfer of ETH, USDC, BUSD, and other assets between RSK, Ethereum, and BNB Chain. The broader focus of the decentralized cross-chain router protocol will...Read More
KLAP – a DeFi lending protocol on Klaytn Network has seen its total value locked soar above one hundred million in a week after its launch. The dApp, spun up by DeFi accelerator Krew, is now the second most popular application on the Klaytn network. Crypto lending has proven to be one of the most...Read More
The first decentralized exchange tapping the Cardano blockchain has announced the launch date of its testnet. The project had previously released an NFT marketplace shortly after raising over $2 million in a funding round participated by Gal Gadot. AdaSwap’s DEX Testnet Arrives The press release shared with CryptoPotato informed that the project’s testnet is scheduled...Read More
Decentralized asset financing protocol Centrifuge has launched a new cross-chain Connectors solution dubbed Centrifuge Connectors to bridge the gap between the real-world asset (RWA) market and decentralized finance (DeFi). Centrifuge Launches Cross-Chain Connectors Centrifuge helps small businesses access more credit while providing stable yields for investors through its pooled liquidity from the world of traditional...Read More
