DeFi
Kannagi Finance, a liquidity aggregator on the zkSync Era platform, has reportedly executed a rug pull, absconding with $2.13 million in total value locked (TVL). Kannagi Finance on zkSync Rug Pulls Users, Steals $2.13 Million According to Wu Blockchain, Kannagi Finance has deleted its website and social media
DeFi
Overview of the Proposal The new proposal, named "Enhanced DSR," was introduced by MakerDAO founder Rune Christensen in the forum. Here are the key points to avoid confusion and controversy: * Interest Rate Structure: The proposal does not fix the DAI interest rate at 8%. Instead, as users deposit
DeFi
After a unanimous vote in favor of the proposal to buy back PRT tokens from the market to transform into a "token-less" project, Parrot Protocol has begun the process of repurchasing PRT tokens over the next 8 weeks. Parrot Protocol to Start PRT Token Buyback Plan Next Week
DeFi
PancakeSwap, the decentralized exchange (DEX) initially launched on the BNB Chain, is now expanding its reach to zkSync Era, according to an announcement by Chef Cocoa to CoinDesk on the evening of July 27. Expansion to zkSync Era PancakeSwap’s integration with zkSync Era is part of its broader strategy
DeFi
Investment firm a16z is reportedly taking advantage of the recent surge in Maker (MKR) prices to reduce its exposure to this DeFi token. a16z Transfers MKR Tokens According to on-chain data, Andeessen Horowitz (a16z) has sold a portion of its investment in MakerDAO’s governance token MKR due to the
DeFi
This past Sunday, the DeFi market experienced a significant downturn, with trading volumes falling to their lowest level in seven months, recording only $1.12 billion according to DefiLlama data. DeFi Market Struggles The total value locked (TVL) in DeFi dropped from $45.3 billion at the beginning of July
DeFi
Users of Linea are facing significant withdrawal delays from the bridge solution, just two weeks after the layer-2 network launched its mainnet. Delayed Withdrawals on Linea Despite Linea's announcement that the issue has been patched, some users are still unable to withdraw their ETH from the layer-2 network
DeFi
Era Lend, a lending platform on the zkSync Era ecosystem, has recently been exploited, resulting in an estimated loss of $3.4 million. Details of the Exploit Era Lend confirmed the security breach on their official Twitter account. Users are advised not to deposit any more USDC into the platform,
DeFi
Public Goods Network (PGN), a project aimed at funding and developing community utilities, has successfully launched its mainnet using the OP Stack toolkit from Optimism. Launch Details PGN is dedicated to supporting projects that build public goods and utilities. With the backing of Conduit and the OP Stack, PGN has
DeFi
Flashbots has officially announced the open-source release of its MEV-Share Node product. Details of the Open-Source Initiative Flashbots made this announcement on their official website, highlighting that the primary motivation behind this decision is to increase transparency in the arrangement and distribution of profits from MEV transactions. Flashbots has open
DeFi
In the early hours of July 23, a wallet associated with the Multichain bridge experienced another significant transfer. Assets worth approximately $14 million were withdrawn from the wallet, consisting of various token formats. Details of the Transaction According to FTM Scan, the transaction began with the transfer of 299.3
DeFi
Just days after introducing the "Appchain" toolkit, the Starknet ecosystem has welcomed its first project to utilize this model. First Appchain Project on Starknet According to a tweet from StarkWare, the first project to use the "Appchain" toolkit will be the derivative trading platform, Paradex. The