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The decentralized finance (DeFi) sector continues to attract increasing attention from crypto investors. ForkLog has gathered the most important events and news of the last weeks into a
The decentralized finance (DeFi) sector continues to attract increasing attention from crypto investors. ForkLog has gathered the most important events and news of the last weeks into a summary.
The amount of blocked funds (TVL) in DeFi protocols rose to $88.67 billion, with MakerDAO leading with $8.6 billion, while Lido ($7.45 billion) and AAVE ($6.56 billion) took the second and third places, respectively.
In Ethereum applications, TVL rose to $57.03 billion. Over the past 30 days, the indicator has increased by 24% (value on June 30 was $46.11 billion).
The decentralized exchange (DEX) trading volume in the last 30 days was $56.5 billion.
Uniswap continues to dominate the non-custodial foreign exchange market, which accounts for 66.6% of the total turnover. In terms of trading volume, the second is the DEX Curve (12.2%), the third is DODO (6%).
Decentralized exchange Curve Finance is preparing to launch its own stablecoin. According to the founder of the project, Mikhail Egorov, the “stable coin” will have supercollateral.
He declined to give further details.
The prospect of issuing stablecoins caused a strong backlash among CRV token holders. Asset increased by 20% on the day.
Lido Finance team announced the launch of Ethereum 2.0 liquid staking service on Tier 2 (L2) scaling networks.
“For users, this means access to a new set of dapps to stake with lower fees and increase returns,” the developers wrote.
The project team stressed that they will not limit themselves to a separate L2 solution. The service will be launched “on all sufficiently verified second-level networks, with proven economic activity.” They plan to start with Arbitrum and Optimism.
The developers of the Polygon Ethereum second level solutions network reported the success of the project in the first half of 2022 and talked about the plans for the next six months.
By July, the number of decentralized applications running on the network reached 19,000, the average monthly transaction count reached 90 million, and the total number of smart contract creators reached 153,000.
The project paid out $2 million in hackathon rewards and grants through the Gitcoin platform.
The project created a free online school Polygon Academy and expanded the capabilities of PolygonDAO.
Decentralized trading platform hashflow Closed $25 million Series A funding round. The company’s valuation reached $400 million.
Participants of the investment round were Coinbase Ventures, Kraken Ventures, Electric Capital, Dragonfly Capital Partners, LedgerPrime, Jump Crypto, Wintermute Trading, GSR, Kronos Research, Altonomy, Fabric Ventures, Evernew Capital and others.
The funds raised will be used to “continue scaling regardless of market conditions”.
Founded in 2021, Hasfhlow plans to launch on the Solana blockchain and offer structured products before the end of 2022.
Decentralized oracles network empirical network StarkNet has raised $7 million in a seed funding round based on its Tier 2 scaling solution.
It was led by Variant and included data partners Alameda, CMT Digital, Flow Traders, FTX and Gemini, the StarkNet team behind StarkWare, and a host of other companies and angels.
Empiric noted that blockchain oracles are required to provide smart contracts with external data. Traditional oracles are centralized and use an independent infrastructure that produces the final result with no possibility of validation.
The proceeds will be used to hire new employees.
On July 23, an unidentified person withdrew nearly $6 million in digital assets from the treasury of a decentralized streaming platform. Audius.
The attacker changed the smart contract configuration and started a malicious administration proposal.
According to CertiK, a security company, an unidentified person changed the platform’s smart contract configuration, allowing it to assign “trustee” status to its address and change the voting period.
After that, the attacker published a project management proposal involving the transfer of 18 million AUDIO to a third-party wallet and voted in his favour.
The market value of the stolen assets at the time of the attack was around $6 million, but due to the strong price slippage, the hacker sold them for 705 ETH (~$1.14 million). According to Etherscan, the attacker transferred funds to the address of the Tornado Cash mixer.
PeckShield analysts noted that an unknown person managed to gain access to the Audius treasure due to “inconsistencies” in certain elements of the project’s storage management system.
Profit Farming Protocol Powered by Solana Nirvana Finance instantly attacked using credit. The attackers withdrew $3.49 million worth of digital assets from the project treasury.
Nirvana Finance representatives turned to the hacker with a request to return the funds and switch to the status of a white hacker. The project offered to drop $300,000 for the identified vulnerability.
According to the statement, the developers managed to locate the attacker’s wallet on an anonymous central platform and are now working to identify it.
According to blog explorer Solana.fm, hackers used an instant loan of 10 million USDC on the Solend platform to manipulate the protocol’s price prophecy.
The funds allowed the ANA project to issue a large number of utility tokens, valued at more than $10 million, as a result of these actions.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
