There are two sides to every story. SushiSwap, an upcoming DeFi protocol forked from Uniswap’s decentralized exchange, has grabbed numerous headlines in recent days. One such story pointed out that the project’s pseudonymous head, known only as Chef Nomi, maintains access to $27 million in Sushi tokens. Cointelegraph reached out to SushiSwap’s founder for further…
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Research into Sushi’s wallets reveal the admin holds the keys to $27 million worth of tokens. Analysis of hot DeFi protocol SushiSwap’s smart contracts has revealed that as much as $27 million worth of the native token is in an admin wallet that could be dumped without warning. Data analyst and partner at Cinneamhain Ventures,…
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Was the Uniswap fork that created SushiSwap a good thing for the DeFi sector? Crypto startup investor and IDEO Managing Director Ian Lee has revealed how DeFi protocols can avoid being cloned and drained of liquidity by improving upon their design and governance from the start. When SushiSwap forked from Uniswap on Friday, August 28,…
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Band Protocol is about to give Chainlink a run for its money on Ethereum. Band is one of Chianlink’s main competitors in the oracle space that is based on Cosmos technology. In a recent Cointelegraph interview, Soravis Srinawakoon, the CEO of Band Protocol, said: “If you look at Chainlink, one data request right now can…
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Binance wants to stay ahead of the DeFi trend. After teasing the upcoming blockchain in April, Binance has launched the mainnet of its Smart Chain — a smart contract-enabled blockchain running in parallel to Binance Chain. Binance Smart Chain comes with an Ethereum Virtual Machine-compatible environment, which allows Solidity developers to move into the new…
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UMA overtook yearn.finance to become the largest DeFi project on CoinMarketCap with a $1.3 billion market cap. The decentralized finance (DeFi) landscape is rapidly changing day after day. On Sept. 1, UMA overtook yearn.finance as the biggest “DeFi” protocol on Ethereum with a $1.3 billion market cap. Data from CoinMarketCap shows six DeFi projects are…
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Ethereum’s co-founder has taken aim at coins designed to incentivise yield farming, comparing their underlying economics to irresponsible monetary policies Vitalik Buterin, the co-founder of Ethereum (ETH), has again taken to Twitter to warn against naive bullishness in the decentralized finance (DeFi) sector, comparing the economics of yield farming tokens to the Federal Reserve’s money…
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Excitement for Yearn Finance’s yETH vault has reached a fever pitch after rumors of the product’s release circulated on Twitter. Analysts predict that the imminent launch of yETH by Yearn Finance could trigger a renewed surge in buying pressure on the ETH markets. The product, which is being voted on by YFI token holders, will…
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Programmable privacy is about to become a reality. Open-source Blockchain protocol Secret Network announced its intention to add privacy-based secret contracts to its mainnet. The upgrade will take place on September 15 once the proposal is passed by the community. According to the foundation’s announcement, developers will have the opportunity to build and deploy so-called…
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Crypto needs financial products — simply positioned and simply transparent — to preserve and grow people’s assets in difficult times. With the COVID-19 crisis showing no signs of abating in the United States, central banks around the world have deployed financial airbags in the form of quantitative easing, and they plan to do a lot…
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