DeFi
Decentralized exchange (DEX) PancakeSwap has launched a new product branch on the Base network, a Layer-2 solution supported by Coinbase. The PancakeSwap team announced that the decision to expand to Base was made to take advantage of the network's low transaction fees, providing users with a more convenient
DeFi
Velodrome Officially Launches Aerodrome DEX on Layer-2 Base Velodrome, a Leading AMM-DEX on OP Mainnet, Expands to Base Introduction to Aerodrome Velodrome Finance (VELO), the largest AMM-DEX on OP Mainnet in terms of total value locked (TVL) and revenue, has officially launched a new decentralized exchange (DEX) named Aerodrome on
DeFi
Just days after discovering vulnerabilities in several pools on its platform, the DeFi protocol Balancer has become the latest target of hackers. Exploit Overview: * Initial Losses: On the evening of 27/08, Balancer confirmed a significant exploit, resulting in nearly $900,000 in damages. Blockchain security expert Meier Dolev traced
DeFi
Aave, a leading lending platform, has officially included sDAI in its collateral asset list. Users can now deposit sDAI into Aave and borrow WETH at a corresponding rate. Update Details: sDAI now on Aave, wETH borrow rates due to the new optimized interest curve is now the cheapest of any
DeFi
1inch has announced the launch of its liquidity aggregation services across various decentralized exchanges (DEX) on the Base network. Expansion to Base: * Announcement Date: On the evening of 24/08/2023, 1inch Network, a prominent DeFi liquidity aggregator, announced the launch of its services on Base, an Ethereum Layer-2 scaling
DeFi
The development team has announced plans to transition Base to a fully decentralized model, moving away from exclusive control by Coinbase. Decentralization Plan: * Collaboration: Coinbase is working with the decentralized autonomous organization Optimism Collective and OP Labs to decentralize Base. However, no specific timeline has been provided for this transition.
DeFi
Security firm PeckShield has reported an exit scam by Magnate Finance, a lending project on the layer-2 network Base, resulting in a loss of $6.4 million. Magnate Finance's Rug Pull: * Event Details: On the afternoon of 25/08/2023, Magnate Finance executed an exit scam, siphoning approximately
DeFi
Following the increase in the Liquid Restaking limit to 100,000 Ethereum (ETH), EigenLayer’s Total Value Locked (TVL) experienced a significant surge within a few hours. Key Highlights: * TVL Growth: EigenLayer raised the restaking limit to 100,000 ETH (approximately $165 million). After this announcement, the platform's
DeFi
In an effort to address the vulnerabilities posed by flash loans in DeFi protocols, Quantstamp has unveiled a new tool designed to mitigate these risks. Combatting Flash Loan Exploits: * Tool Announcement: Quantstamp's latest offering, the Economic Exploit Analysis service, aims to detect and thwart potential flash loan attacks
DeFi
MakerDAO's recent decision to increase the DAI interest rate to 8% has become a focal point in the market, sparking both debate and excitement. Despite some controversial proposals, DAI is experiencing a resurgence, with its market cap exceeding $5 billion and boosting the Spark lending protocol to new
DeFi
PancakeSwap, a prominent decentralized exchange (DEX), has officially integrated with Linea, the seventh blockchain to support its services. Linea is a layer-2 solution developed by Consensys, the company behind the leading Web3 wallet, MetaMask. Integration Details: * Linea's Technology: As an Ethereum layer-2 solution, Linea is built with zkEVM
DeFi
A critical vulnerability has been discovered in several pools on Balancer, prompting the project to advise users to withdraw their funds immediately. Incident Update: * Current Impact: As of 11:00 AM on 23/08, the incident is estimated to potentially cause $27 million in losses. Users are rapidly withdrawing their