On Thursday, voters decided unanimously to remove Paxos from the reserve asset holdings, after a vote on a governance proposal to reduce the USDP debt cap from $500 million to zero. There were 35 voters that cast a total of 73,249 MKR tokens. According to the proposal’s authors at MakerDAO
In a notable breakthrough, Injective Protocol has completed the Avalon Mainnet Upgrade, marking a substantial milestone in its ongoing evolution. The highly anticipated upgrade ushers in robust scalability optimizations, enhancing the platform’s capability to handle increasing network demands. The Avalon Mainnet Upgrade is complete to bring you the most performant
Tenet, a layer-1 ecosystem that is working to broaden the applications of liquid staking derivatives (LSD), has formed a strategic alliance with LayerZero, a top omnichain interoperability protocol that is now valued at over $3 billion. As a result of the cooperation, the LayerZero omnichain architecture will be used by Tenet,
Jimbos protocol is the latest decentralized finance (DeFi) system to be hacked, resulting in a substantial loss of funds in the cryptocurrency market. Jimbos protocol, the Arbitrum system’s liquidity mechanism, was hacked on May 28 morning, according to blockchain security company PeckShield. The hack caused a loss of 4,000 Ether,
Avalanche, a swiftly burgeoning blockchain protocol, is redefining the terrain of decentralized finance (DeFi), showcasing a captivating blend of security, scalability, and decentralization. This progress epitomized by its burgeoning Total Value Locked (TVL) and the surge in active addresses on its network. Top 10 Projects by TVL on Avalanche #Avalanche
Stablecoins worth $11.6 million were stolen in a cyberattack last month that targeted an earlier version of the Yearn Finance protocol. The exploiter has recently transferred more than $3.6 million, or over 2000 ETH, via Tornado Cash. According to data from PeckShield, a blockchain analytics company, the exploiter is transferring
The Open Network (TON), a breakthrough technology that aims to integrate all blockchains and the Web2 internet into a single open network, is conducting a decentralized finance (DeFi) and data analytics hackathon in collaboration with DWF Labs and Amazon Web Services (AWS) under the banner of Hack-a-TON. Developers with an interest
On May 25th, insolvent cryptocurrency lender Celsius Network announced that the auction to sell its assets to cryptocurrency consortium Fahrenheit LLC had concluded. After consulting with its official committee of unsecured creditors. Celsius Network ultimately decided to go with Fahrenheit as the high bidder in the court-supervised auction. The Fahrenheit
Blur, a prominent NFT marketplace announced that the ETH borrowing platform unveils a groundbreaking feature that provides borrowers with greater flexibility in repaying their loans. Instead of the traditional requirement to repay the entire loan amount at once, borrowers can now make small, incremental payments over time. 1/ 🚨FEATURE ANNOUNCEMENT🚨
SafeMoon, the BNB Chain-based DeFi protocol, emerges with a soaring trend on Crypto Twitter. Remarkably, the project dominates the platform with more than 2.24 million tweets, almost rivaling the viral memecoin BEN. On Tuesday, SafeMoon declared the completion of the initial array of updates — tokenomics fee customization (10% to
