After launching on August 19th, the algorithmic liquidity protocol BENQI has already reached $1B in TVL. Meanwhile, the price of Avalanche’s native cryptocurrency has been soaring. Big Support for BENQI BENQI is collaborating with AVAX in a joint liquidity mining program, in which $3M worth of AVAX will be provided as incentives to users of...Read More
The Poly Network drama seems to be officially over as the hacker has returned the remaining $141 million, according to a blog post from the DeFi project. ‘Full Asset Restoration’ Begins As per the announcement, at 8:39 AM UTC, Mr. White Hat gave his private key to the 3/4 multi-signature wallet in an embedded message,...Read More
In an announcement on August 16, Poly Network stated that it will soon be going live again. Additionally, Poly has teamed up with bug bounty platform Immunefi to offer $500,000 for white hats that discover smart contact flaws and code bugs. The bug bounty went live a couple of hours ago, according to Immunefi, which...Read More
In the decentralised finance (DeFi) arena, a well-known crypto trader known as Smart Contractor is anticipating massive rallies for two altcoins. Aave, a decentralised lending and borrowing system, is one of the cryptocurrencies that might potentially soar in the next months, according to the pseudonymous trader’s 158,500 Twitter followers. Aave linked with Ethereum (AAVE/ETH) is...Read More
After swiping more than $600 million in various cryptocurrencies, the anonymous PolyNetwork hacker has successfully transferred back most of the funds. He also rejected a $500,000 bounty offer and outlined plans to return all funds. CryptoPotato reported the record-setting hack earlier this week when PolyNetwork’s blockchain experienced a massive security breach. The anonymous perpetrator swiped...Read More
The team behind the Binance Smart Chain has decided to launch another season of the Most Valuable Builder program. It aims to accelerate the developments in several sectors, including DeFi and GamingFi, and ten projects will have the chance to receive funding. BSC MVB Program Season Three Ever since the launch of the Binance Smart...Read More
According to the Poly Network, the hackers behind one of the industry’s largest-ever crypto heists have returned more than a third of stolen $613 million loot. In a tweet on August 12, the DeFi protocol announced that it had received $260 million returned from the attackers. It also stated that there were $353 million outstanding...Read More
The interoperability protocol PolyNetwork has been exploited on Binance Smart Chain, Polygon, and Ethereum. The perpetrators have set a record within the decentralized finance space by swiping more than $600 million from at least three wallet addresses. Earlier on August 10th, PolyNetwork announced on its Twitter account that it had experienced a security breach. Important...Read More
The Securities and Exchange Commission has targeted the Cayman Island-based Blockchain Credit Partners (BCP), along with Gregory Keough and Derek Acree, for selling unregistered securities from February 2020 to February 2021. $30 Million Trough Token Sales According to a recent press release, the executives allegedly used smart contracts to sell two types of tokens that...Read More
Although he made his fortune trading penny stocks and manipulating the markets, Jordan Belfort, the trader who inspired the iconic movie “The Wolf of Wall Street,” is currently not very happy with a lot of what’s going on with the crypto industry. In a recent interview he explained in detail what excites him and what...Read More
The banking giant filed an application with the U.S. Securities and Exchange Commission (SEC) on July 26 for a DeFi ETF that would offer exposure to public companies. According to the filing, the proposed fund called the “Goldman Sachs Innovate DeFi and Blockchain Equity ETF”, seeks to provide investment results that closely correspond to the...Read More
Ampleforth – the algorithmic stablecoin with elastic supply – has been introduced in Aave’s lending ecosystem. Ampleforth (AMPL) Now Included in Aave While most stablecins have a stable peg, Ampleforth (AMPL) is doing things differently. It’s designed in a way where the algorithm chases a target price and readjusts the overall supply. If the price...Read More
The cross-chain DeFi protocol THORChain suffered another major hack for $8 million. Last week the protocol was drained with a further $8.3 million in a separate attack. THORChain Got Hit Again The decentralized cross-chain exchange THORChain experienced a “sophisticated attack” on its ETH Router. The protocol announced on Twitter that this time the perpetrators drained...Read More
The Acala Foundation has recently announced the launch of its decentralized exchange (DEX), Karura Swap on the Kusama and Polkadot ecosystem, with its so-called “first trustless trading pair” KSM/KAR already available for trading. Over $3.4M in TLV In a Friday announcement, Acala noted that the KSM/KAR pair currently has over $3 million in Total Value...Read More
Both crypto traders and investors are concerned about the current state of the crypto market. SHIB desperately requires institutional backing to survive in this environment for a longer period of time, as the community and sentiments are proving insufficient. The entire crypto market, on the other hand, was on the edge of collapse before hitting...Read More
Wyre, a blockchain payments provider, announced today that developers around the world are now able to provide USDC stablecoin to customers in the Polygon ecosystem. The feature was made possible through a partnership with Polygon. Wyre Integrates With Polygon Wyre said in a press release shared with CryptoPotato that the integration of its Checkout API...Read More
Tether, the company behind the biggest stablecoin by means of total market cap – USDT – has announced that CREAM Finance has become the first DeFi protocol to support their Euro-pegged EURt token. According to a recent press release, CREAM Finance – a well-known DeFi protocol, has become the first to integrate Tether’s EURt stablecoin...Read More
The popular digital asset exchange CryptoCom has introduced a new testnet of its EVN chain called Cronos. The project is the company’s DeFi-oriented child aiming to scale the ecosystem by enabling developers to port apps from Ethereum and EVM-compatible chains. CryptoCom Announces Cronos According to the press release shared with CryptoPotato, the Ethereum Virtual Machine...Read More
Grayscale announced the release of its latest product called Decentralized Finance (DeFi) Fund to enable institutional investors to receive exposure to assets from that particular space. Some of the tokens represented in the fund will be Uniswap (UNI), Aave (AAVE), and Compound (COMP). Launched in 2013, Grayscale has become the largest digital asset manager with...Read More
Spores Network, a new creator-centric NFT and DeFi platform, has announced that it raised about $2.3 million from investors in a just-completed funding round. Cardano’s First Full-Stack DeFi Platform In a press release shared with CryptoPotato, Spores noted that it is stepping up its game to become the first full-stack NFT and DeFi platform to...Read More
THORChain is the latest DeFi project to be exploited, with estimations showing that the hackers might have swooped up to $7.6 million in digital assets. The team behind the decentralized exchange promised to make whole all affected users and requested the perpetrators to contact them to discuss the return of funds. THORChain highlighted the hack...Read More
Details were thin on the ground in Dorsey’s July 15 tweet, but the company CEO said that it would launch a platform for developers to create non-custodial decentralized finance projects built around Bitcoin. Twitter CEO Dorsey added that the project will be completely open-source, just like its new Bitcoin hardware wallet. He continued to state...Read More
Gaming developers employing the services of Community Gaming will be able to take advantage of enhanced scalability through a new collaboration with the popular blockchain-based Layer 2 protocol – Polygon. Community Gaming Partners with Polygon Describing itself as an “all-in-one platform offering esports infrastructure to all key stakeholders in the industry,” Community Gaming is a...Read More
Barely two days since the launch of ShibaSwap, a DeFi platform coming from the popular Ethereum-based meme project, Shiba Inu, more than $1.5 billion worth of assets have been locked on the exchange. ShibaSwap Records $1.5 in TVL As with many DeFi projects, ShibaSwap also introduced a yield farming program that allows users to stake...Read More
In a bid to equip decentralized application (dApp) developers with the necessary tools for maximum production, Ethereum blockchain developer platform Alchemy has announced a partnership with Polygon to enhance the network’s capabilities. Alchemy Integrates Polygon The firm made the announcement today, stating that the move would supercharge the development of Polygon and the Ethereum network. ...Read More
While a slew of DeFi tokens are surging in value, the ‘Dogecoin Killer’ Shiba Inu has topped the Ethereum network in terms of gas usage, suggesting a strong connection between the two. Shiba Swap and the ensuing DeFi Wave Earlier yesterday, SHIB (the official Twitter account for the SHIBA ecosystem) announced that Shiba Swap had...Read More
Following another drop to around $33,000, bitcoin has bounced off and neared $35,000 once again. The alternative coins, especially some connected to the DeFi sector, have seen more substantial gains, with Uniswap rising 11% and Aave and Compound jumping by more than 20%. DeFi Coins Surge by Double-Digits After marking minor losses yesterday, most of...Read More
Balancer is one of the pioneers in the DeFi space and a core building block of its infrastructure. The protocol allows for efficient trading by pooling crowdsourced liquidity from investor portfolios while also identifying the best available price. Data from Token Terminal reveals the growth of the platform in terms of total value locked over...Read More
The popular DeFi project Balancer Protocol has joined the fight against high fees by launching on the Layer-2 solution – Polygon. Upon the transition from Ethereum, Balancer also announced new token incentives, which came into effect from June 28th. Balancer Joins Polygon Promising to “turn the concept of an index fund on its head,” Balancer...Read More
The billionaire owner of the Dallas Mavericks has gone big into crypto and DeFi. In a blog post titled “The Brilliance of Yield Farming, Liquidity Providing, and Valuing Crypto Projects,” he has simplified the process of liquidity provision and yield farming. DeFi yield farming exploded onto the scene in mid-2020 when the Compound Finance protocol...Read More
