🚨 DeFi Protocol Penpie Exploited for $27M of Crypto Assets; PNP Token Craters 40%

Decentralized finance (DeFi) protocol Penpie, built on top of tokenized yield platform Pendle, suffered an exploit on Wednesday, crypto observers reported. The alleged exploiter drained roughly $27 million of crypto assets including various types of staked ether (ETH), Ethena's sUSDE and wrapped USDC stablecoin from the protocol, blockchain data shows. Later, it converted the proceeds to ETH using predominantly Li.fi and forwarded to asset to a new address, according to Etherscan data.

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@DeFi_ICO_Invest

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💰 Bitcoin DeFi Protocol Seeks to “Save” WBTC from Justin Sun

Threshold, a Bitcoin DeFi protocol with a $212 million market capitalization, has proposed to merge its tBTC token with wrapped Bitcoin (WBTC) in an effort to “save” WBTC from falling into the wrong hands amid a looming change in WBTC’s custody model. The proposal comes after a recent move by BitGo – the custodian behind WBTC – to join forces with BiT Global, a Hong Kong-based company with deep ties to controversial Tron founder Justin Sun.

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@DeFi_ICO_Invest

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🪙 Ethereum Still Holds the Lion’s Share of Defi TVL as Tron and Solana Rise

Currently, the total value locked (TVL) in decentralized finance (defi) stands at $82.2 billion, with Ethereum hosting a commanding 57.24% of that amount. Hot on its heels, Tron and Solana take the second and third spots for the largest TVLs today. Despite ethereum (ETH) facing challenges against bitcoin (BTC) and solana (SOL) throughout 2024, its network remains the reigning champion in the world of defi value.

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@DeFi_ICO_Invest

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📣 BounceBit to Launch CeDeFi V2 Platform with Modifications for DeFi and Gaming

BounceBit (BB) is getting ready to launch BounceBit V2 in September 2024, which will make significant changes to its centralized decentralized finance (CeDeFi) infrastructure and BounceClub. The new version aims to improve user experience through the inclusion of innovative features from the decentralized finance (DeFi), artificial intelligence (AI), and gaming sectors.

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@DeFi_ICO_Invest

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📊 SOFA.org Hosts AMA on The Future of DeFi Settlement

SOFA.org, a decentralized and non-profit DAO developing a decentralized clearing protocol, was joined by Mr. John Cahill, COO of Galaxy Digital Asia, to discuss the project's long-term value-proposition as an industry-wide settlement system, and its secure suite of on-chain structure products. The panel was moderated by the Real Moonlight Show on Binance Live.

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@DeFi_ICO_Invest

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📊 DeFi protocol Threshold proposes Bitcoin wrapper merger to ‘save WBTC’

Bitcoin decentralized finance (DeFi) protocol Threshold is proposing to merge its own BTC “wrapper” token, tBTC, into Wrapped Bitcoin (WBTC) in a bid to “save WBTC” following concerns about an impending change in control of the popular BTC wrapper, according to an Aug. 29 proposal in Threshold’s governance forum.

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@DeFi_ICO_Invest

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📣 Weje.com Launches Revolutionary DeFi Gaming Platform on Polygon (MATIC)

Weje.com, a pioneering force in the decentralized finance (DeFi) gaming industry, is proud to announce the launch of its innovative peer-to-peer gaming platform. Built on the Polygon (MATIC) network, Weje.com is set to transform the online gaming experience by leveraging the power of blockchain technology to offer secure, transparent, and efficient gameplay.

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@DeFi_ICO_Invest

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📣 DeFi network Radix team cuts 15% of staff, citing need to ‘refocus’

RDX Works, the team behind the Radix decentralized finance (DeFi) platform, has axed 15% of its workforce, citing a need to lower costs. The Radix network launched its mainnet in July 2023 and offers developer tools to build and run decentralized applications (DApps) and financial services on the blockchain. Piers Ridyard, the company’s CEO, confirmed in an Aug. 29 statement in the company’s official Telegram group that the staff cuts are to “refocus” and are part of a “more comprehensive set of changes that need to be made.”

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@DeFi_ICO_Invest

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🔵 Aave To Onboard BUIDL Shares As Collateral For GHO

On Aug. 26, Aave Labs, the team behind Aave, the largest DeFi lending protocol, published a preliminary temperature check proposal advocating for the inclusion of shares in the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) to the collateral assets backing its stablecoin, GHO.

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@DeFi_ICO_Invest

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🐴 Uniswap and Across propose new Ethereum token standard to tackle liquidity fragmentation

Uniswap Labs and cross-chain interoperability provider Across Protocol have proposed a new Ethereum token standard for cross-chain intents to address liquidity fragmentation challenges. The new standard is under Ethereum Request for Comment 7683 (ERC-7683) and aims to establish a unified framework for specifying cross-chain actions in intents-based systems. Intents are automated blockchain interactions based on the user’s desired outcome, excluding the need for specific knowledge.

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@DeFi_ICO_Invest

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