This Monday’s vote was not an executive vote but rather a ratification vote. The move has been credited for advancing the project’s greatest restructure in its history. As time goes on, MakerDAO gets closer to its “Endgame.” DeFi’s de facto central bank will establish so-called MetaDAOs and activate a new
In its Oct. 27 supporting statement for the objection, the trustee harshly criticized Celsius. Paying executives more in anticipation of a reorganization may seem counterproductive. U.S. trustee William Harrington is objecting to a Celsius motion. That would pay $2.96 million in retention bonuses to 62 of the company’s 275 workers.
Financial assets of this kind tend to be very unstable and susceptible to manipulation. The proposal won support from Compound Finance’s founder, Robert Leshner. Users of the Compound Finance protocol will no longer be able to lend assets with low liquidity. After “proposal-131” was adopted by the DAO that runs
Price manipulation is the problem, as Peckshield put it in a tweet. Peckshield’s blog post revealed that the vulnerability had been reported by Chainsecurity. On October 24th, Quickswap detailed how a $220,000 hack occurred in the Market XYZ lending market. Quickswap Lend is closing, the team announced on Monday through
The USDC is a third of the treasury supporting Maker’s Peg Stability Module. The DAO will receive up to 1.5% rewards on the assets. After being presented by Coinbase Institutional on September 6, the proposal passed with 75% approval on Monday afternoon. The USDC is a third of the treasury
The Olympus treasury holds a variety of assets including DAI and FRAX. OlympusDAO is a decentralized reserve currency system using the OHM token. Early this morning, a hacker stole 30,000 OHM tokens from OlympusDAO, which are valued at over $300,000. However, hours later, the attacker returned the assets to the
DeFi App Maple Finance imposed tighter restrictions for borrowers. Borrowers on Maple Finance are mandated to sign up with Credora. Decentralized finance App Maple Finance imposed tighter restrictions for borrowers on its platform, to lower counterparty risk after a wave of disasters hit the cryptocurrency market this year. Borrowers must
The exploiter stole 243,000 CELO from Binance and used it in an attack. Users were cautioned against trading mTokens, Moola’s interest-bearing tokens. Millions of dollars were made off of yet another DeFi protocol. The non-custodial liquidity protocol on Celo, Moola Market, is the protocol at hazard this time around. Moola,
BitKeep said that its development team has moved quickly to limit the hacker’s access. The firm has also guaranteed to pay in full to the victims affected by the hack. This morning, October 18th, BitKeep, a popular wallet provider, was hacked and lost more than $1 million. Moreover, BitKeep wallet
The total losses in 2022 may exceed the total losses in 2021, which totaled more than $3.2 billion. On Tuesday, Solana’s popular Mango Markets trading protocol lost $100 million in liquidity. According to a report by American blockchain analysis company Chainalysis, hackers stole $718 million worth of cryptocurrency from DeFi
