The 1Inch Limit Order Protocol’s Total Trading Volume Hits $1B

In a recent tweet today, 1Inch revealed the total trading volume of its limit order protocol had reached the $1B mark. The news comes after the network announced its expansion on Ethereum Scaling Solution Arbitrum to reduce transaction costs. 1Inch Displays a Huge Growth Potential In a blog post, the co-founders at 1inch, Anton Bukov, and Sergej Kunz, announced they had deployed 1Inch's Limit Order protocol to Arbitrum. The DEX aggregator has been among the most significant networks mitigating scaling challenges.…

Vee Finance Loses $35 Million in an Exploit on Avalanche

Vee Finance, a decentralized finance platform, has officially confirmed its hack on Avalanche. On September 20, the hacker managed to transfer funds worth $35 million. In terms of assets, it was 8804.7 ETH (around $26 million) and 213.93 BTC (around $9 million). According to the report, the hack didn't affect the stablecoin. As for the hacker, the report confirms that they have not yet transferred or processed the funds. The team is working to provide more details of the incident.…

Avalanche Blockchain’s Zabu Finance Loses $3.2 Million after Facing a Pool Hack 

On September 12, industrial outlet DeFiPrime revealed Zabu Finance faced a hack. The hacker successfully stole 4.5 billion tokens from a Zabu Farm Contract amounting to $3.2 million. The transfer of such a large number of tokens eventually caused the price of Zabu tokens down to $0. Zabu Token has also gone ahead to confirm the hack on Twitter. Moreover, the platform asked for help from other known decentralized exchanges hosted on Avalanche, such as Pangolin and Trader Joe. How…

Moonbeam Collaborates with Lido to Bring Liquid Staking to Polkadot

Ethereum-compatible smart contract platform Moonbeam has just announced a collaboration with Lido. Lido is a decentralized autonomous organization (DAO) that develops and maintains decentralized liquid staking protocols. Moonbeam will provide the parachain infrastructure and cross-chain interoperability to Lido for its expansion to Polkadot. Furthermore, the platform's Ethereum-compatible smart contract functionality will allow Lido to use familiar Ethereum tools to get to market quickly. The collaboration will bring liquid staking to Polkadot and Kusama. Moreover, the integration between the two introduces liquid staking to Moonriver and Moonbeam. Moonriver is a…

Andre Cronje Says DeFi Tokens Are Not Stocks; Clarifies ‘Test in Prod’ Statement

DeFi continues to remind us of the good ole days of the ICO craze in 2017. But unlike ICO tokens, DeFi degens don't need to wait for long before they can see the products in motion and ready for use.   However, these projects come in different shapes and forms. Some deliver as promised, while others pull the rug out from under investors. And then, we have the "experiments." But whatever the case, for many degens, it is a game of…

Aave Protocol Raises $25m From Investors to Develop DeFi Products

Aave protocol has raised $25 million from investors as it seeks to continue developing DeFi projects. Funds were raised from three investment firms. Aave revealed on Twitter that the DeFi protocol had successfully secured funding from three firms. Blockchain.com Ventures, Blockchain Capital, and Standard Crypto were the firms that partook in the latest funding round, which raised $25million. Blockchain.com ventures are the investment body of popular crypto wallet provider Blockchain.com, and its investment in Aave shows the potentials within the DeFi…