Crypto research and portfolio tracker, CoinStats, raised $3.2 million in the latest funding round led by Alex Pack’s Hack VC. Other participants also included a myriad of other funds, including Mike Dudas’s 6th Man Ventures. The funding will be deployed to develop new features to expand DeFi to millions of users. CoinStats’ DeFi Expansion As...Read More
OpenZeppelin, a security audit company for Coinbase, identified $15B rugpull vulnerabilities in Convex Finance, whose anonymous developers later resolved the risk. The surprising discovery occurred during a security review of the Convex Finance protocol. A Bug Only Exploitable From the Inside The Security Research Team from OpenZeppelin found in late 2021 that a significant bug...Read More
Ronin – an EVM blockchain for play-to-earn games – recently fell victim to one of the largest hacks in the history of crypto. A whopping 173,600 ETH was drained from Ronin bridge within the last week, alongside another 25.5M USDC. According to a community alert issued by Ronin, the hack occurred due to Ronin validator...Read More
Not one, but two decentralized finance (DeFi) protocols – Agave and Hundred Finance – were exploited in a fresh case of a “re-entrancy” attack. The hacker reportedly managed to siphon funds worth $11 million in Wrapped ETH, Wrapped BTC, Chainlink, USDC, Gnosis, and Wrapped XDAI on both DeFi protocols on the Gnosis chain using a...Read More
On March 8, Cega Finance announced that it had raised $4.3 million in a seed round led by Dragonfly Capital Partners. There was also participation from various DeFi and crypto VCs, including Pantera Capital, Coinbase Ventures, Alameda Research, and Solana Ventures. The platform, founded by former UBS derivatives trader Arisa Toyosaki, now has a valuation...Read More
The Singapore-based financial technology company – Cake DeFi – introduced its corporate venture arm, called Cake DeFi Ventures. With $100 million in earmarked capital, the feature will enable the firm to interact with Web3, gaming, and fintech startups. In addition, Cake DeFi partnered with The Edge of Company to hop on the NFT bandwagon. The...Read More
Ramani Ramachandran, co-founder and chief executive of Router Protocol, believes that the integration will help advance the mission of achieving a multi-blockchain future. Router Protocol – Avalanche Singapore-headquartered Router Protocol has integrated Avalanche network’s C-Chain to its cross-chain messaging protocol. According to the official press release shared with CryptoPotato, the development will enable users to...Read More
1inch Network – a protocol that unites decentralized projects – launched a spot price aggregator to extract data for assets traded on DEXs on the blockchain. The tool provides a liquidity-weighted average of token spot prices. To avoid issues within transactions, 1inch recommended using it off-chain. 1inch’s Newest Instrument In a recent document seen by...Read More
Helsinki-based Sulake is set to leverage Ethereum’s layer 2 scaling solution – Immutable X. The main objective behind the move is to foster the NFT experience for its online community of over 500,000 monthly active Habbo users across the world. Web 3 And Carbon Neutral NFT Experience According to the press release shared with CryptoPotato,...Read More
Open source and decentralized protocol ssv.network has received $10 million in funding from its DAO partners to ramp up the decentralized staking infrastructure for Ethereum 2.0 ahead of the upcoming Merge. ssv.network Receives $10M ssv.network said in a press release that it received the funds through its DAO Partner Program, an initiative the project launched...Read More
The 1inch Network launched a new investment tool called 1inch Earn, in hopes of incentivizing liquidity providers. The protocol asserted in a press release shared with CryptoPotato that the new feature will provide more efficient use of capital compared to AMM pools. How Does 1inch Earn Liquidity Pool Work? A set of liquidity pools optimized...Read More
Following its successful launch on the Polkadot Mainnet this week, Acala, an Ethereum-compatible DeFi protocol for scaling dApps, has revealed what lies ahead for the project. Acala’s Core Products Coming Soon The Acala team noted in an official press release seen by CryptoPotato that it intends to begin launching all of its core products soon....Read More
Continuing with its push for “the best deals across the blockchain space,” the 1inch Network has announced the deployment of its latest aggregation and limit-order protocols on Avalanche and Gnosis Chain. Conquest of the DeFi The DEX aggregator termed the new partnerships a continuation of its conquest of the DeFi space. In a press release...Read More
The decentralized finance protocol OlympusDAO collaborated with Balancer to set up OHM as a liquid asset within the latter’s network. CopperLaunch and PrimeDAO will facilitate the front end of the Liquidity Bootstrapping Pools (LBPs) by adding OHM as a collateral token. The Specifics of The Project According to a document seen by CryptoPotato, the decentralized...Read More
Quantum-resistant Layer 1 hybrid blockchain platform, QANplatform, has announced the launch of its public TestNet, making it the first Ethereum compatible quantum-resistant blockchain platform. World’s First Quantum-Resistant Blockchain According to a press release shared with CryptoPotato, users can now add the QAN TestNet to MetaMask and transact with testnet tokens due to the network’s compatibility...Read More
Itheum, a metaverse project based on the Elrond network, recently secured $1.5 million in funding from a single investor – Morningstar Ventures. This seed round would enable the project to pursue its roadmap. According to a press release shared with CryptoPotato, the funding round is part of a $15 million initiative from Morningstar, which launched...Read More
Animoca Brands subsidiary, Lympo, an NFT platform that specializes in the minting of sports-related collectibles, has lost $18 million to a hack of several of its hot wallets. According to a Medium post that announced the breach of security, the team stated that it lost 165.2 million LMT tokens after a hacker gained access to...Read More
According to a Friday PR, Gaming platform Overwolf is making an investment in SYN CITY, a blockchain-based Mafia Metaverse gaming platform, which is formally opening on January 8. With over 95,000 creators, Overwolf is a significant player in user-generated gaming content. SYN CITY is a brand new platform built on blockchain and intends to offer...Read More
Mintverse, an NFT aggregator and marketplace consisting of several peer-to-peer features, outlined a new version of its digital collection tracking solution. The project promised to enhance the global adoption of non-fungible tokens through some of the platform upgrades. Mintverse’s Community Driven Metadata Version The statement shared with CryptoPotato reads that the “revamped” version of Mintverse’s...Read More
In an announcement on Dec. 22, Uniswap Labs reported that it had launched the DEX on the Polygon network. Polygon co-founder Mihailo Bjelic submitted a proposal to Uniswap governance in November to deploy Uniswap v3 on Polygon, and it was voted in last week. It had overwhelming support, with more than 72 million UNI tokens...Read More
The funding round will help SPACE Metaverse to develop an economic backbone of Metaverse. Metaverse is the word for 2021. As the concept slowly moves closer to reality, high-profile establishments are betting big on it. Capital is flowing at a rapid pace. In the latest development, SPACE, a metaverse dedicated to arts and commerce, has...Read More
MetaMask is one of the most popular non-custodial wallet applications with millions of active users. Now, it also teases that in-app non-fungible tokens will also come to life soon. CryptoPotato reported earlier in November that the popular non-custodial wallet MetaMask has reached a whopping userbase upwards of 21 million. MetaMask is in the middle of...Read More
Tezos-powered play-to-earn NFT game, DOGAMÍ, has recently raised $6 million from several notable investors, including Ubisoft and Animoca Brands. Building the Petaverse on Tezos In a press release shared with CryptoPotato on Tuesday, DOGAMÍ noted that the funding will help it further the development of decentralized pet ownership 3.0. DOGAMÍ offers a unique blend of...Read More
The self-described compounding yield optimizer – Grim Finance – has reported being hacked in a reentrancy exploit with the attacker swiping up to $30 million worth of Fantom tokens. The DeFi protocol took it to Twitter on Sunday to inform its users about the hack. The team described it as an “advanced attack,” in which...Read More
Uniswap Labs – the developers behind Uniswap, the largest exchange in DeFi – released a series of important features to enhance pricing as well as optimize the gas cost of swaps. What Does the Update Have in Store? Uniswap Labs have now released an updated Auto Router that enhances trade prices to a greater extent...Read More
Polkadot has announced the launch of the first parachains, a set of individual blockchains that will run in parallel within its ecosystem, the project noted in a press release shared with CryptoPotato on Saturday. Polkadot’s First Batch of Parachains According to the official announcement, slots for the first parachains are allocated to different blockchain projects...Read More
The popular decentralized exchange 1inch announced that the second version of its limit order protocol is now live. One of the most prominent features that the project outlined is allowing users to gaslessly place limit orders to swap into ETH dozens of tokens that support permits. 1inch V2 Limit Order Protocol Goes Live The project...Read More
Automated portfolio manager and liquidity provider Balancer Labs announced the official launch of Boosted Pools in collaboration with the leading DeFi lending protocol, Aave. Boosted Pools to Increase LP Yields In a press release shared with CryptoPotato, Balancer noted that the new product is geared toward solving the issue of decreased capital efficiency with yields...Read More
Institutional-grade lending protocol for decentralized finance (DeFi), Parallel Finance, has won the fourth Polkadot parachain auction. Over $300 Million Contributed The press release shared with CryptoPotato informed that the protocol saw support from over 30,000 contributors who provided a total of 10.75 million DOT, worth a whopping $306 million, during the auction. According to the...Read More
The CVI platform, the first decentralized Crypto Volatility Index for the digital asset market, has recently announced the addition of two new volatility tokens to its growing list of products. CVI Launches ETHVOL and CVOL In a Tuesday press release seen by CryptoPotato, the firm noted that the new volatility tokens – ETHVOL and CVOL...Read More
