Compound governance refused to compensate COMP farmers right now, but the proposal may come back. On Monday, the majority of the Compound Finance governance community voted against a proposed compensation plan for users affected by the Dai liquidations that occurred on Nov. 26. Figures from the Compound governance dashboard show 681,290 votes against and only…
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The exchange is hosted on a layer two platform and uses Dai for margin. Leverj, a non-custodial derivatives platform based on an Ethereum sidechain, announced on Tuesday their cooperation with leading industry participants to support the launch and marketing of its exchange. The exchange offers perpetual swaps for Bitcoin (BTC) and Ether (ETH), accepting both…
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DAI reached a price of $1.3 on Uniswap and Coinbase, the two exchanges used by Compound’s oracles. The crypto market suffered a powerful crash on Thursday morning UTC, which sent prices of major currencies like Bitcoin (BTC) and Ether (ETH) tumbling in excess of 10%. When traders rush for the exits, the price of stablecoins…
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Nefarious parties are using flashloans in conjunction with stablecoins to steal DeFi funds from platforms. An Ethereum-based decentralized finance, or DeFi, platform known as Cheese Bank recently suffered a $3.3 million loss — the product of an early-November hack. The thieves utilized a somewhat newly-found weakness in the DeFi sector which harnesses flashloans. The Cheese…
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“These are all my savings. I hope you can return it to me.” On Nov. 14, an unknown party exploited flash loans via the decentralized finance protocol Value DeFi to the tune of $5.4 million. A number of individuals have received a portion of their stolen funds back, however, after pleading with the hacker using…
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Blockchain records show the hackers got away with more than $2,051,159 in DAI before moving the funds to a different address. Hackers were reportedly able to exploit savings pools at Gibraltar-based decentralized finance protocol Akropolis, getting away with more than $2 million in stablecoins. The firm stated on Twitter on April 12 that it had…
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Interoperable DeFi platforms can help with Ethereum’s high transaction fees. The team behind RSK, a smart-contract-enabled sidechain extension for Bitcoin, announced Tuesday that Maker’s Dai stablecoin is now available on the platform. The integration makes it possible to transfer Dai from Ethereum to the RSK sidechain, which makes it available for use in its Bitcoin-backed…
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APY.Finance is the latest DeFi protocol to explode in popularity, locking more than $67 million of stablecoins in the first hour of launching its mining program. The DeFi sector is still going strong with the newly launched yield farming platform APY.Finance attracting more than $67 million in locked funds within one hour of launching liquidity…
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The community had originally voted in favor of compensation, but the final tally showed a different outcome. After multiple rounds of voting and heated discussion, the final vote to compensate losses for Maker (MKR) users that were liquidated “unfairly” during the March crash failed. About 52,500 MKR voted against any compensation, which accounted for 65%…
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The total supply for DAI tripled since June as the community keeps raising the supply limits to bring the peg down to $1. The MakerDAO community approved and executed a vote on Thursday to almost double the total debt ceiling, which indicates how much Dai (DAI) can be minted by its users. An announcement by…
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