RUNE has plummeted 45% to its lowest value since 2020 amid THORChain’s financial turmoil, including a $199 million liability and halted Bitcoin and Ethereum withdrawals. In response, the community passed a proposal to convert defaulted debt to equity, aiming to restore liquidity and attract new capital. The coming weeks will be crucial for THORChain’s survival as it seeks to regain user confidence and stabilize the protocol.
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Hasu’s Impact on Decentralized Finance Through Strategy and Innovation
Hasu, a prominent figure in decentralized finance (DeFi), has significantly influenced the sector through his strategic roles at Flashbots and Lido Finance, focusing on governance and staking solutions. His analytical prowess and ability to simplify complex concepts have established him as a thought leader, while his advocacy for transparency in crypto operations highlights the challenges within centralized exchanges. As DeFi evolves, Hasu continues to shape its landscape with a blend of vision and pragmatism, driving innovation and fostering community engagement.
read moreTop 10 DeFi Projects Ranked by Development Activity in October 2023
Synthetix Network leads the top 10 DeFi projects by development activity, followed by dydx, Lido DAO Token, and Injective. While Synthetix’s token price has risen 5% recently, dydx has seen a nearly 15% decline. Other notable projects include Uniswap, FOX Token, and Maker, with a focus on meaningful programming events and community engagement driving their rankings.
read moreBinance Delists Shiba Inu, Chainlink, and Other Cryptocurrencies, Impact on Prices
Binance, the world’s largest crypto exchange, announced the delisting of Shiba Inu, Chainlink, and other cryptocurrencies due to poor liquidity and trading volume. This decision is expected to impact the prices of these cryptocurrencies, with traders remaining cautious amidst market uncertainties.
read moreCosmos IBC Protocol Vulnerability Patched, Safeguarding $126M in Assets
A critical security bug in Cosmos’ Inter-Blockchain Communication (IBC) protocol, which could have risked over $126 million, has been fixed by developers. The bug, which could have allowed a reentrancy attack to mint infinite tokens on IBC-connected chains, was privately disclosed and patched through the Cosmos HackerOne Bug Bounty program. This incident underscores the importance of thorough cross-chain security research and the potential vulnerabilities introduced by new features.
read moreStride’s Liquid Staking Protocol Enhances DYDX Token Security and Rewards
The dYdX community has approved staking 20 million DYDX tokens on the liquid staking protocol Stride, with rewards auto-compounded into DYDX and distributed over a validator set. Stride’s system issues stDYDX to the user’s wallet, stakes the original tokens with reputable validators, and auto-compounds USDC rewards into more staked DYDX, all automated every six hours. The staking mechanism promotes decentralization by delegating stakes evenly across a set of validators, excluding the top 33% of vote power to improve stake distribution.
read morePicasso Network Integrates IBC Protocol, Enabling Ethereum Cross-Chain Transactions
Picasso Network has successfully integrated the Inter-Blockchain Communication (IBC) Protocol with Ethereum, enabling native bridging of tokens, messages, and accounts. This breakthrough allows Ethereum to transfer assets and data natively with Cosmos Hub, Polkadot, and Kusama via IBC, with plans to connect more chains in the future. The integration aims to enhance crosschain interoperability and security, with Osmosis serving as the primary destination for Ethereum assets and liquidity within the Cosmos ecosystem.
read moreGrayscale Launches Staking-Focused Fund for Qualified Investors with High Returns
Grayscale introduced the Grayscale Dynamic Income Fund (GDIF) for qualified investors, focusing on staking rewards from proof-of-stake digital assets. The fund allocates investments to various proof-of-stake tokens, with OSMO, SOL, and DOT being significant components, offering attractive annual percentage rates. The fund has shown a net return of over 140% from October 2023 to January, with restrictions for investors based on assets under management or net worth. For more information, refer to Bloomberg or the SEC.
read moreDeFi Projects Experience Surge in Development Activity Amid Market Rebound
Amidst a broader market rebound, Osmosis, a Cosmos-based decentralized exchange, has emerged as the leading DeFi project with a notable surge in development activity, recording over 169 GitHub commits in the past month. Following closely behind are dYdX and Synthetix, both experiencing significant upticks in development and total value locked. Meanwhile, Uniswap lags behind despite a substantial increase in TVL and recent feature enhancements.
read moreDeFi Projects Experience Surge in Development Activity Amid Market Rebound
Amidst a broader market rebound, Osmosis, a Cosmos-based decentralized exchange, has emerged as the leading DeFi project with a notable surge in development activity, recording over 169 GitHub commits in the past month. Following closely behind are dYdX and Synthetix, both experiencing significant upticks in development and total value locked. Meanwhile, Uniswap lags behind despite a substantial increase in TVL and recent feature enhancements.
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