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Day: June 29, 2021

broken chain

Not Just a Bank Run: New Evidence Shows Iron Finance Crashed Due to Code Exploit

DeFi Research, Op-ed / By / September 16, 2021

$2B of market value lost in even less time than what would be considered an “overnight disaster” will be recognized as one of DeFi’s darkest days. It would be pretty unbecoming if the people didn’t band together against centralized entities in Decentralized Finance which caused this debacle. But  the people did, and with the official …

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spartancouncil

Synthetix Founder Announces Return to “Save the Project”

Byte, DeFi News / By / September 15, 2021 / , , , ,

Kain Warwick, founder of derivatives liquidity protocol Synthetix, is back.  The founder had previously stepped away from the protocol to take on a “more passive role,” but has now declared his intention to run for the Spartan Council, an eight-member governance DAO that votes on and manages changes to the protocol. Warwick previously stewarded the …

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gas wars

Sunday Gas Wars: Ethereum Gas Prices Spike After NFT Frenzy

Byte, DeFi News / By / September 15, 2021 / , , ,

Ethereum gas prices spiked on Sunday as collectors, bots and apes raced to get their hands on newly launched NFT projects.  Gas fees, which briefly hit 600 gwei on Sunday due to demand, were reminiscent of a time when triple-digit gas fees were the norm. Gas fees for minting an NFT cost around $160. Yet, …

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unknown 13 2

Ethereum’s Hashrate Plummets to New Lows as China Squeezes Crypto Mining

DeFi News, Dive / By / September 15, 2021 / , , , , ,

Just 40 days after Ethereum’s hashrate hit an all-time high, the key metric has plunged 17% in the last 10 days, according to data from Glassnode, a blockchain and intelligence provider. That’s the worst drop in a 10-day span in Ethereum’s history. The cause: China, probably. Ever since the Chinese government in May started warning …

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safedollar

SafeDollar Stablecoin Plummets to Zero After Exploit

Byte, DeFi News / By / September 15, 2021 / , , , , ,

The value of SafeDollar (SDO), an algorithmic stablecoin intended to be pegged to $1, has dropped to zero after a $248K exploit on Polygon. In a post-mortem analysis published on June 28, SafeDollar reported it had lost $202K of USDC and $46K of USDT as a result of an attack on one of its pools …

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unknown 14

DeversiFi Unveils Governance Token

Byte, DeFi News / By / September 15, 2021 / , ,

The decentralized Ethereum exchange DeversiFi plans to launch a governance token called DVF. DVF will be distributed via an open and fair launch mechanism called DeversiFi Launch Market (DLM). The proceeds will be placed in a community-governed treasury. Tokenomics and further details on the DLM mechanism will be made available closer to launch.  While DeversiFi’s …

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