Decentralized finance (DeFi) protocols “don’t need to get bailed out,” and were “designed specifically to avoid this bullshit,” the founder of DeFi protocol Compound (COMP), Robert Leshner, has said. Discussing the troubles currently faced by centralized crypto lenders like Celsius (CEL), Voyager Digital, and BlockFi in a recent episode of the Unchained Podcast, Leshner said…
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Compound, one of the main cryptocurrency lending protocols on Ethereum, is facing serious problems again. According to banteg, a Yearn developer, someone called a function that moved more funds to be available for users to claim. Now, users can claim up to $140 million of the protocol’s native currency, comp. Compound is hoping users won’t…
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While Compound’s developers submitted a fix for the protocol’s bug on Sept. 30, the update won’t take effect until a seven-day time-lock on code updates has passed. Major DeFi money market Compound’s woes are worsening, with nearly $150 million worth of COMP now at risk due to a buggy upgrade to the protocol that went…
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Compound, one of the trademark defi protocols on the Ethereum blockchain, is experiencing a bug that allows users to reclaim unusually high amounts of its native token. The issue was caused by the implementation of a proposal that modified the contract that awards tokens to users. Compound Labs founder Robert Leshner declared that user funds…
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Mark Zuckerberg sent Bitcoin hodlers into a frenzy after naming his new pet goats “Bitcoin” and “Max.” Mark Zuckerberg, the Co-founder of Facebook has riled excitement across the crypto community after taking to social media to announce two of his pet goats have been named “Bitcoin” and “Max.” Zuckerberg announced the curious names for his…
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A vulnerability patch left the protocol with only partial functionality, but the price is still holding. Wednesday’s crypto market correction put a heavy burden on the FEI project, the latest attempt at creating an algorithmic stablecoin that would remain stable in the face of market turbulence. Due to the particular mechanics of the protocol, the…
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