SushiSwap to Integrate with Core Blockchain Protocol for Increased DeFi Services and Cross-Chain Functionality
SushiSwap, a Decentralized Finance (DeFi) platform, is planning to integrate with the blockchain protocol Core to offer a wider range of DeFi services through its cross-chain functionality. The integration will allow developers building within the Core ecosystem to access SushiSwap's liquidity pools, cross-chain swaps, and decentralized exchange (DEX) aggregator.
Shiba Inu Shibarium Hackathon Invites Tech Enthusiasts and Developers to Build Unique Applications Using Smart Contracts on Puppynet
The Shiba Inu development team has launched the Shibarium Hackathon, inviting tech enthusiasts, Web3 developers, and designers to build unique applications using smart contracts on Puppynet. The hackathon is part of the Summer of Shibarium, leading up to the mainnet launch of the layer-2 scaling solution.
Five Major Korean Exchanges Urge Caution in Investing in CRV
Five major Korean exchanges have issued a joint statement urging their users to exercise caution when investing in CRV, the native token of decentralized finance (DeFi) platform Curve Finance. The statement came after a recent hack at the platform resulted in the loss of millions of dollars worth of cryptocurrencies.
Binance Smart Chain Suffers Copycat Attacks Due to Vyper Programming Language Vulnerability
The BNB Smart Chain (BSC) has reportedly experienced copycat attacks due to a vulnerability in the Vyper programming language, similar to the exploit on the decentralized finance (DeFi) protocol Curve Finance. Blockchain security firm BlockSec tweeted that around $73,000 worth of cryptocurrencies on BSC across three exploits had been stolen.
c0ffeebabe. eth Returns $5.4M Worth of ETH to Curve Deployer
Blockchain security company PeckShield has reported that c0ffeebabe. eth has returned 2,879 ETH (worth approximately $5.4 million) to the Curve deployer. The transaction has been completed on the Ethereum network. Curve is a decentralized finance protocol that aims to provide users with low-cost and efficient trading services. However, due to the uncertainty and vulnerabilities of smart contracts, some users' assets may be at risk.
Tether (USDT) Hits New All-Time High in Market Cap After Printing $1,500,000,000 in Net Profit: IntoTheBlock
Tether's market capitalization has reached a new all-time high, nearing $84 billion, thanks to billions of dollars in profits generated earlier this year. The stablecoin's circulating supply has increased by almost 30% year-to-date, and it printed $1.5 billion in net profits in Q1 of 2021. Meanwhile, competitors in the decentralized finance (DeFi) space are working on improvements to attract more users. USD Coin (USDC), the second-largest stablecoin by market cap, has been struggling since the collapse of Silicon Valley Bank (SVB) in March, with volumes and supply decreasing significantly.
OpenZeppelin Security Lead Urges Crypto Industry to Adopt Universal Security Standards for DeFi
According to Michael Lewellen, the security lead for OpenZeppelin, the crypto industry needs to establish universally agreed-upon security standards to prevent hacks in decentralized finance (DeFi). Lewellen emphasized the importance of setting a "standard on security" with a "broad agreement" across auditing firms and developers to protect users. Currently, protocols rely on audit reports from blockchain security firms, but there have been instances where contracts were hacked despite auditors not finding bugs. Lewellen suggests that adhering to standards on important elements like how Layer-2 networks interact with users, each other, and Ethereum can help prevent bridge hacks, which account for nearly 40% of the $6.74 billion stolen from DeFi protocols in the past three years.
Cathie Wood: Bitcoin's Rally During US Bank Collapse Proves It's the Future of Money
Cathie Wood, CEO of ARK Invest, believes that Bitcoin's significant price increase after the collapse of US regional banks is a clear indication that it is the future of money. Wood cites three reasons for her bullish outlook on digital assets, including the potential for Bitcoin to dominate the "money revolution" as a safe store of value.
Global Crypto ATM Installations Rebound Following Brief Dip in 2023
Since the opening of the first Bitcoin ATM in Vancouver, Canada in 2013, there has been a significant increase in the number of Bitcoin and crypto ATMs globally, with the United States being a major market. The rise can be attributed to the growing acceptance of digital currencies, user-friendly interfaces, and a greater interest in decentralized finance solutions. Crypto ATMs offer users a simple and convenient way to buy and trade digital assets using cash or credit/debit cards.
DeFi Can Recover Former Glory with Infrastructure Development Outside the U.S.
Decentralized finance (DeFi) projects gained popularity in the summer of 2020, with a total value locked of $248.84 billion by the following fall. However, a decline in DeFi occurred due to a series of scandals and hacks, combined with the onset of crypto winter. Boris Revsin, managing partner of Tribe Capital, believes that DeFi can make a comeback with the development of more infrastructure in open markets outside the US, and sees new infrastructure and developers as key to turning crypto into a $10 trillion industry.
