🏂Avalanche and MakerDAO Race Forward Amid FTX Fallout
MakerDAO Brings Aboard Rocket Pool’s rETH
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DFK Chain Subnet Drives 51% Jump in Transactions Processed in September
By Samuel Haig
Avalanche is on a roll. Even as crypto wrestles with existential questions in the wake of the FTX disaster, transaction volumes on Avalanche, a Layer 1 network, surged to new highs in the third quarter amid the growth of its DFK Chain subnet.
FTX Crisis: Hacks
ox59 still has over 200,735 ETH, worth around $236M, in its wallet
The hacker behind one of the wallets that drained the failed FTX exchange is offloading several millions of dollars worth of Ether, causing a further slide in the cryptocurrency.
Waves.Exchange has rebranded to WX.Network and now it is more than a decentralized exchange. Since its launch five years ago, services have expanded and Waves.Exchange became a robust platform for self-sovereign crypto management with a suite of investment tools in a convenient interface.
In just 2 clicks, you can start your own token right from the platform user interface. Get the verification for the token and launch your own liquidity pool.
WX.Network team wants to welcome new projects, so they are giving away up to $70,000 to those users who start the best tokens, with real utility!
You should just be clear on the use case for your token and create something of value that people would actually want to use.
Go here to the token creation page (create an account first)
Fill in the form describing your token economics
Click “Create Token:
Your token is created and you’re entered into the lottery
The campaign will run until December 1st
Deal Challenges Liquidity Staking Giant Lido
By Samuel Haig
In a deal that may ratchet up competition for staking giant Lido, MakerDAO, the No. 1 DeFi protocol, has embraced Rocket Pool’s liquid staking derivative (LSD) token. Users can now use that token, rETH, as collateral for minting Maker’s DAI stablecoin. Oasis.app, a popular portal for MakerDAO, also launched support for rETH. Users can access leveraged exposed to rETH using Oasis’ “Multiply” feature.
FTX Crisis: Regulators
Nearly $500M Was Drained From Bankrupt Exchange On Nov. 11
Bahamian regulators are not responsible for the $477M hack of bankrupt crypto exchange FTX on Nov. 11, according to blockchain research firm Chainalysis. Chainalysis is among several firms hired by FTX’s new leadership to assist in bankruptcy proceedings, according to court documents filed this week.
“Some funds were stolen, and other funds were sent to the regulators,” Chainalysis said on Twitter.
FTX Crisis: Contagion
By Owen Fernau
Grayscale, the issuer of the world’s largest publicly traded crypto fund, is hoping to reassure investors that the digital assets backing its products are safe. Grayscale is owned by Digital Currency Group, which is being scrutinized by investors after another subsidiary, Genesis Global Capital, reportedly sought an emergency loan of $1B last week in the wake of FTX’s collapse.
By Samuel Haig
New Technology Can Deliver a User-Controlled Web and Propel the Expansion of DeFi
By Evan Shapiro
Cryptography and encryption have enabled a degree of trust on today’s internet that allows us to use our passwords without having to think about whether someone will be able to watch our connections and steal them.
Crypto Users Jump to DeFi Platforms in Wake of FTX’s CeFi Crash - Nansen Data Show Double-Digit Jumps in Users at MakerDAO, Aave, and Other Protocols
Solana Endures ‘Crucible’ as FTX Connection Deletes 70% of TVL - Fall of SBF’s Empire Rocks Layer 1 As It Was Rebounding From Tough Year
FTX Leadership Borrowed Over $1B From Alameda - Incoming CEO John Ray Cites ‘Complete Absence of Trustworthy Financial Information’
DeFi Users Jump But Boom is a Mirage: Chainalysis - Data Shows Activity Spike Came from Existing Users and MEV Bot
SBF Rues FTX Bankruptcy Filing As Screws Tighten: Report - Bankman-Fried Says Altruist Persona Was ‘Just PR’ in Wide-ranging Interview with Vox
🧑💻 ✍️ News stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, yyctrader, and contributors, and are edited by Edward Robinson, yyctrader and Camila Russo. The video team is led by Alp Gasimov. The podcast is led by Camila.
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