Day: May 13, 2021

AITO Platform Builds Yield-Generating NFT On Top of Aave

Developed by NFT social media network AITO, the NFT is a first on Aave and also a first in that it’ll generate ongoing Aave yield for the artists. The artwork itself is a multimedia, audiovisual collaboration between the DJ Marshmello and Steven Messing, the concept art director for Avatar 2 and Avatar 3. The auction …

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xToken DeFi Project Hacked For Over $25M

xToken, a project which automates staking and liquidity strategies and wraps them into ERC-20 tokens, has been hacked to the tune of ~$25M. The attack resulted in xToken’s TVL dropping by roughly 30% to $63M, according to DeFi Llama. The xSNXa and xBNTa token contracts, for which xToken automates the staking strategies as well as …

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Vitalik Says UNI Should Become an Oracle Token

Ethereum creator Vitalik Buterin made a proposal for Uniswap’s UNI token to become an oracle price token for ETH/USD so as to allow the DeFi eco-system to ‘mark to market’ its fair value, thus providing a more robust mechanism for smart contract execution. He says that the pricing oracle should be modeled along the lines …

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Crypto Recovers From Elon Dump Led by Proof-of-Stake Coins

Energy-efficient blockchains are leading the crypto rebound after Elon Musk, Tesla CEO, shocked the crypto world yesterday saying the car manufacturer “has suspended vehicle purchases using Bitcoin” because of the fossil fuels needed to run the network.  Cryptocurrencies running on the Proof-of-Stake consensus mechanism, which is more energy-efficient than Bitcoin’s Proof-of-Work mechanism, make up six …

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