The price of SPARTA token plunged 30% on Sunday as details of the attack came to light. Spartan Protocol, a liquidity platform for synthetic assets on the Binance Smart Chain, was drained of $30 million in a coordinated attack on its liquidity pool late Saturday. The exploit targeted a “flawed liquidity share calculation” in the…
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Decentralized finance protocols on the Binance Smart Chain saw their token prices and total value locked rise toward new highs after a series of protocol upgrades and cross-chain integrations. Decentralized finance (DeFi) has taken a well-deserved break from the spotlight over the past couple of months after being one of the hottest sectors at the…
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High costs and transactions prioritized by gas fees often make using DeFi protocols challenging to say the least. Does it really need to be this difficult? Decentralized exchanges have indelibly changed the way that cryptocurrencies are traded. But in the grand scheme of things, the technology that’s driving these platforms is relatively young… meaning it’s…
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Will Inverse set a precedent for protocols acquiring protocols? In a possible decentralized finance (DeFi) first, Inverse Finance’s governance has approved today a proposal to buyout Tonic Finance in a $1.6 million-dollar deal that will bring Tonic under Inverse’s umbrella. First floated after “weeks of negotiation” in early April, members of the Inverse Finance DAO…
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Decentralized finance platforms on the Ethereum network have lost about $285 million to rogue actors since 2019. Decentralized finan’s rising popularity since 2019 has seen the emerging market segment become a target for hackers and opportunistic profiteers. According to a report by crypto research company Messari, DeFi protocols have lost about $284.9 million to hacks…
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Fees from yVaults were the biggest contributors to Yearn’s revenue. Decentralized finance yield aggregator Yearn has released its financial report for the first quarter revealing some impressive earnings for the period. According to the Yearn Finance quarterly report, published on GitHub on April 27, the platform had earnings of $4.88 million for the quarter. Declaring…
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Why acquire when you can integrate? Happy Wednesday fellow DeFi degens! I was expecting to spend a large portion of this edition of Finance Redefined analyzing Aave’s liquidity mining program. There was some anxiety from investors that the emission of 2,200 $AAVE per day (which would translate to roughly 5% of the ecosystem reserve fund…
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A member of Uranium Finance’s developer team said they suspect that the recent hack of the platform may have originated internally. They’ve urged affected users not to contact any other members of the Uranium Finance team. The $50 million exploit of Uranium Finance, a decentralized finance protocol on Binance Smart Chain, may have been an…
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Low fees and high yield opportunities briefly pushed QuickSwap price above the $1,000 mark as the Polygon-based layer-2 solution sees adoption from new blockchain projects. As the Ethereum (ETH) network progresses along the slow and steady path toward Eth2 and the full transition to proof of stake, layer-2 solutions have arisen as the best solution…
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Uranium Finance joins the growing list of hacked projects on the Binance Smart Chain network. Uranium Finance, an automated market maker platform on the Binance Smart Chain, has reported a security incident that resulted in a loss of about $50 million. Tweeting on Wednesday, Uranium revealed that the exploit targeted its v2.1 token migration event…
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