dYdX Chain’s single-day trading volume has exceeded US$30 million
According to official X account news, the daily trading volume of dYdX Chain has exceeded 30 million US dollars.
DeFi revenue platform Coinchange secures US$10 million in financing
DeFi yield platform Coinchange raised $10 million in financing. Participants in this round of financing include G1.VC, Spirit Blockchain, Good News Ventures, K2.CA, Atoia Ventures, and Mintfox.
MetaMask’s Gas API is now available to all developers via Infura
MetaMask has announced that its Gas API is now open to all developers through Infura. The Gas API is an advanced tool for web3 developers that enables them to effectively estimate and optimize the gas costs of their blockchain applications. This API is a multi-chain optimization tool that provides real-time gas pricing, improving transaction speed and cost-effectiveness. This public beta provides early access for developers to use a single API key to optimize blockchain transactions on multiple chains, improving cost and efficiency, and providing feedback to help the development team improve the product.
Lido DAO has approved the deployment of simple DVT module
Lido DAO has approved the deployment of the Simple Distributed Validator Technology (DVT) module, which is a step towards quickly diversifying Lido node operators and promoting innovation within the Ethereum staking ecosystem. DVT is a system that operates similarly to a validator running a multi-signature setup, relying on multiple NOs rather than a single node operator. Each NO manages different nodes, which communicate and work together to fulfill the responsibilities of the validator.
Vertex’s total trading volume exceeds US$20 billion
Decentralized exchange Vertex announced on X platform that its total trading volume has exceeded 20 billion US dollars since the launch on the Arbitrum mainnet.
Justin Sun: TRON’s future development focus should be on decentralized stablecoins and RWA
On November 26th, Sun Yuchen, founder of TRON and member of the Huobi HTX Global Advisory Committee, sent out a tweet to solicit ideas from industry professionals on the major developments that should be prioritized in the TRON ecosystem.Sun Yuchen stated, "Personally, I believe the focus should be on decentralized stablecoins and DeFi based on RWA returns."
Kyber Network: Hacking attacks resulted in the theft of approximately $54.7 million, and is willing to provide a 10% bounty to hackers
On November 25th, Kyber Network posted on social media that on November 22nd, hackers attacked the KyberSwap Elastic smart contract through a series of complex operations, extracting user funds to the attacker's wallet, and approximately 54.7 million US dollars of user funds were stolen. In response, Kyber has suspended deposits, launched an investigation, contacted relevant parties, and negotiated with the attacker to help users recover funds as much as possible, including offering a 10% reward to the hacker. This hack is one of the most complex attacks in DeFi history, as the attacker needed to perform a series of precise on-chain operations to exploit the vulnerability.
BanklessDAO requests 1.82 million ARB from Arbitrum for 12-month campaign
BanklessDAO has requested a grant of 1.82 million ARB from Arbitrum to carry out a 12-month long campaign. These funds will help the organization guide users from awareness to expertise, further promoting adoption. The campaign will focus on three core audiences: developers, DeFi enthusiasts, and gamers.
The Australian Taxation Office recommends taxing DeFi transactions, but does not clarify whether it will apply to liquidity staking and L2 bridging operations
According to the new guidelines released by the Australian Taxation Office (ATO) on November 9th, capital gains tax (CGT) should be levied on a range of DeFi transactions. The new guidelines state that capital gains tax must be paid when a user transfers tokens to an address or smart contract that does not have "beneficial ownership" or if the token balance of that address is non-zero. Although these standards suggest that the relevant rules may cover liquidity collateral, the guidelines do not clarify some confusing issues, such as whether Australian DeFi users need to pay taxes when staking Ethereum on Lido or sending tokens across L2. In cases where the rules are not clear, assuming an Australian DeFi user purchases ETH for $100 and then stakes it or sends it through bridging at a price of $1,000, they may need to pay taxes on the $900 "profit", even if they have not sold ETH or realized profits. An ATO spokesperson stated that the tax situation of the transaction will depend on the steps taken by the user on the platform or contract, as well as the relevant facts and circumstances of taxpayers who own cryptocurrency assets. Liberal Party Senator Andrew Bragg stated that the previous government had commissioned the Taxation Committee to propose appropriate rules for taxing cryptocurrencies, but the investigation results have been postponed twice and will not be released until February next year. In the absence of legislation, the Australian Taxation Office is allowed to formulate its own rules. (Cointelegraph)
KyberSwap loses $46M to "infinite money glitch" exploit on concentrated liquidity feature
Doug Colkitt, founder of Ambient Exchange, has revealed that the thief who stole $46 million from KyberSwap used a sophisticated smart contract exploit known as an "infinite money glitch." The attacker exploited KyberSwap's concentrated liquidity feature, tricking the contract into thinking it had more liquidity than it actually did. This exploit is unique to Kyber's implementation of concentrated liquidity and is unlikely to work on other decentralized exchanges. Despite the presence of a failsafe mechanism, the attacker was able to execute a carefully engineered smart contract exploit by setting the swap quantity just below the upper bound for reaching the tick boundary. The attacker has expressed a willingness to negotiate the return of some of the stolen funds.
