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The decentralized finance (DeFi) sector continues to attract increased attention of cryptocurrency investors. The most important events and news of recent weeks ForkLog collected in the digest.
Key indicators of the DeFi segment
The volume of blocked funds (TVL) in DeFi-protocols fell to $ 67.97 billion The leader was MakerDAO with an indicator of $ 9.17 billion, and the second and third lines of the rating are held by Lido ($ 8.75 billion) and AAVE ($ 7.6 billion), respectively.
Data: DeFi Llama.
TVL in Ethereum applications fell to $ 39.92 billion Over the past 30 days, the figure has increased by 31% (July 13, the value was $ 30.37 billion).
Data: DeFi Llama.
The trading volume on decentralized exchanges (DEX) over the past 30 days amounted to $ 58.6 billion.
Uniswap continues to dominate the non-castodial exchange market, accounting for 70% of total turnover. The second DEX in terms of trading volume is Curve (10.1%), the third is Balancer (5.1%).
Chainalysis: damage from hacks of cross-chain protocols since the beginning of the year reached $ 2 billion
The volume of stolen funds as a result of 13 attacks on cross-chain protocols since the beginning of the year has reached $ 2 billion, such estimates were given by analysts of Chainalysis.
The share of attacks on bridges amounted to 69% of the volume of all funds stolen by intruders in 2022.
“As the transferred value through cross-chain protocols increases, their attractiveness in the eyes of hackers grows. This poses a serious threat to building confidence in blockchain technology, “experts noted.
In their opinion, the solution to the technical problem of designing cross-chain protocols can only be a strict code audit, which will create a library of reliable smart contracts as templates for other developers.
DeFi-platform Oasis will block sanctioned addresses
As a result of the change in the “Terms of Service” of the Oasis platform, sanctioned wallets will not be able to access the project application at the front-end level.
Users will be prohibited from using Oasis.app to manage positions and withdraw funds.
The platform did not disclose what tools it uses to identify high-risk wallets. The developer under the pseudonym banteg suggested that Oasis, following Uniswap, turned to the services of TRM Labs.
According to the site, the protocol manages deposits worth $ 3.42 billion, the volume of transactions over the past 30 days amounted to $ 4.6 billion.
The Aave community approved the launch of a decentralized stablecoin GHO
The Aave DeFi protocol community has approved the launch of a decentralized GHO stablecoin pegged to the US dollar in the ecosystem of the project.
During the three-day voting, Aave DAO participants contributed over 500,000 AAVE tokens to the Snapshot platform. There was almost unanimous support for the proposal.
GHO , a redundant stablecoin — is the same model used in MakerDAO’s DAI.
The collateral will be a “diversified set of crypto assets” supported by Aave. At the same time, users will continue to receive interest on tokens blocked as collateral.
Interest payments on loans in GHO will be transferred to the treasury of Aave DAO. The latter will take over the functions of managing the tool.
The head of the integration department of Aave Mark Zeller said that the timing of the launch of the stablecoin will depend on the results of audits. He stressed that the development team “puts security above the speed of deployment.”
Investing in DeFi
DeFi Protocol Injective Protocol raised $40 million in a funding round featuring billionaire Alan Howard’s Brevan Howard Digital and Jump Crypto.
The funds raised will be used to develop the project ecosystem and Web3 technologies.
The INJ token reacted to the news with an increase to $ 2.4. At the time of writing, the asset has rolled back to the $1.95 area.
Venture capital firm Lightspeed Venture Partners leads a startup’s Series A funding round Unstoppable Finance in the amount of 12.5 million euros ($ 12.8 million).
It also included Speedinvest, Rockaway Blockchain Fund, Backed VC, Inflection, Discovery Ventures, Fabric Ventures and Anagram.
The project is preparing to launch a non-custodial crypto wallet DeFi Ultimate with the ability to directly connect to profitability protocols and decentralized exchanges.
The raised funds will also be used for expansion in the US market. According to the Unstoppable Finance team, there are more than 300,000 prerequisites on the waiting list.Of the registers.
Hacks and scams
August 2 crosschain protocol Nomad was subjected to a hacker attack, as a result of which the attackers withdrew crypto assets worth about $ 200 million.
Its nature allowed everyone to copy the hacker’s transaction and change the address for the receipt of funds to their own. Thus, the cryptocurrency was withdrawn from the protocol by both ordinary users and “white hackers”.
By August 5, users had returned $ 22 million (11% of stolen assets) to the address of the Nomad storage facility published after the attack.
More than 50% of the funds remain stationary on the wallets of hackers – they were offered a reward for the return of stolen assets.
On August 9, unknown persons compromised the frontend of the DeFi protocol Curve Finance. As a result, users lost assets worth $ 573,000.
The analysis showed that the infrastructures of the server and the provider were not compromised. The root cause continues to be sought.
On August 12, Binance CEO Changpeng Zhao reported that the attacker sent funds to the platform, after which the team froze and returned $ 450,000.
ERC-4626: how the new standard can revitalize the DeFi segment
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