Each week, we’ll round up the hottest news across the DeFi ecosystem to help you keep up to speed.
Whitehat hackers save $350M of funds from Sushi’s MISO platform
Samczsun is an anonymous researcher and developer made popular for his whitehat work uncovering and helping to fix significant vulnerabilities across DeFi apps. This past weekend, he discovered a vulnerability in Sushi’s token launching platform MISO that could’ve lost $350M worth of capital.
Polygon acquires Hermez in $250M deal that includes first ever “token” merger
In a move to widen their lead in the Ethereum scaling wars, Polygon significantly upped its suite of scaling solutions with the merger and acquisition of Hermez network, a zero knowledge-rollup focused solution. MATIC and HEZ tokens will also merge, a first for the industry.
Avalanche launches $180 million DeFi incentive scheme with Aave and Curve
The budding smart contract platform is trying to lure popular DeFi apps and developers in a bid to compete with Ethereum and others. $30 million in AVAX has been allocated across three DeFi protocols for the first phase of the program, including Aave and Curve.
Uniswap becomes first DeFi protocol to generate $1B in fees
Shared in a tweet by founder Hayden Adams, the protocol has generated a record breaking $1B in fees. These fees represent the immense amount of on chain activity being done with Uniswap, and denotes the platform as integral for generating the fees that keep the Ethereum network secured.
Chainlink goes live on Arbitrum L2
Oracles from Chainlink, a provider of data feeds to smart contracts, have been integrated into Ethereum “layer 2” scaling solution Arbitrum One.
SuperRare NFT platform launches $RARE
In a hotly anticipated announcement, the SuperRare team detailed a vision for SuperRare 2.0 and launched the $RARE token, which was airdropped to platform users retroactively. The team also announced sovereign smart contracts which will enable artists to deploy their own apps.