A governance proposal seeking to pay up to $47 million to the Mango Markets hacker is set to be approved as it reaches an approval quorum of over 96%. Following the Mango Markets hack of Oct. 12, the hacker submitted a proposal asking the project to use up to $70 million from its treasury to…
In the financial system, a perpetual futures contract, also known as a perpetual swap, is a transaction representing an agreement to buy or sell an asset at an unspecified point in the future. It also allows users to trade using margin or leverage (using borrowed funds). This means that rather than having the capital to…
Decentralized protocol Sushiswap (SUSHI) has seen the price of its native token jump by over 19% in the last 30 days to $1.38 At least one technical analyst on Twitter believes the recent positive momentum surrounding the protocol could be the catalyst that pushes it above $1.5 for the first time since it dropped below…
The native token of decentralized exchange GMX (GMX) has spiked 35% to $54.11 after two leading crypto exchanges announced they would be listing it on Oct. 5. Binance revealed that it would list the token in its Innovation Zone with three trading pairs by 10:00 UTC. FTX also stated that the asset would go live…
Blockchain security company Elliptic revealed that around $4 billion had been laundered through decentralized exchanges, cross-chain bridges, and coin swaps since 2020. According to the report, the illegal use of DEXs usually comes in the form of coin swapping. This could be swapping tokens to avoid asset freeze, swapping for ETH, or swapping tokens to…
Cross-chain DEX aggregator Transit Swap had a rough weekend after it lost over $21 million of users’ funds to a vulnerability attack. An unknown hacker launched an attack against TransitSwap’s unverified smart contract on Oct. 1. Users who unknowingly approved their tokens for trading on Transit Swap had all their funds transferred directly to the…
TechCrunch has released information stating that the parent company of the Uniswap DEX, Uniswap Labs, is preparing for a new $100 million funding round to expand its offering. “Uniswap Labs is in early stages of putting together a new round…as the parent firm of the popular eponymous decentralized protocol gears up to broaden its offerings.”…
A crypto trader on GMX exchange leveraged the zero slippage feature to extract over $565,000 in profit by manipulating the price of the AVAX token. GMX is a decentralized exchange that allows users to execute trades at zero slippage. Traders on the platform are able to execute trades at the same price it was initiated….
Decentralized exchange dYdX (DYDX) has discontinued its new $25 deposit promo citing “overwhelming demand,” and denied claims that the DEX now required users’ verification. Due to extremely overwhelming demand of the $25 deposit bonus promotion, we are ending the campaign, effective immediately. Thank you to the many thousands of new users that onboarded to dYdX…
Solana-based (SOL) decentralized exchange OptiFi mistakenly closed its program on August 29, losing $661,000 of its funds permanently. OptiFi’s program has been closed by mistakes we made. TL;DR 1. We accidentally closed the OptiFi mainnet program and it’s not recoverable2. 661k USDC is locked in the PDAs, luckily 95% of the fund is from our…