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 stablecoin was left untouched. 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. Further,…
Recently, FinNexus announced the use of the XRP ledger in a blog post. The development is a new milestone for XRPL. FinNexus is an open finance space that came up with a roadmap this year. The finance hub intends to use the XRP ledger for asset tokenization in protocol development.
As in the roadmap, the finance hub noted the possibility of turning to some networks for creating a PCAP with the capability of connecting various digital currencies that include Ripple and XRP. It says they will attempt to utilize an interledger to create a payment pathway for FNX.
The hub is also planning to connect a minimum of two public chains by 2020. It pointed out that it will use Wanchain for BIP while XRP will get used to tokenize asset issuance. As per the press release, the XRP ledger will get utilized in issuing tokenized assets capable of being exchanged by stablecoins on XRP. Additionally, such a function would become part of Assets Producing Protocol and Asset Trading Protocol.
Other Platforms also Announce the use of XRPL
CoinField also announced its leverage of XRPL recently. CoinField is Canada-based, and it introduced its project known as Sologenic, not so long ago. This project gets powered by XRPL, and it aims at providing a trade-off on on-demand tokenized assets, as well as EFT’s and Stocks.
Additionally, Xchange also claimed its development of a ‘decentralized censorship-resistant social network’ on the XRPL open-source platform. Xchange is yet to release the beta version of the social network. Furthermore, the 14.0 version of XRPL got announced earlier this week, and it gets backed by Ripple through its Xpring initiative.