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Yearn Merges With Cover to Make DeFi Safer

After a series of flash loan attacks where DeFi protocols lost $100M in damages, Yearn acquired Cover Protocol to provide decentralized insurance. The project pays out claims from exploits or certain attacks on smart contracts, using a the  Snapshot voting tool to decide coverage. The claim will move to its Claim Validity Committee (CVC) to …

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Yearn Partners with Akropolis in Move for Institutional DeFi

Yearn Finance announced a merger with Akropolis, trailing a series of Yearn partnerships and recent ecosystem hacks.  Earlier this month, Akropolis lost $2M in an exploitation attack. This technical partnership highlights the permissionless nature of DeFi, where Akropolis could make the unilateral decision to integrate itself in the Yearn ecosystem. Akropolis enables under-collateralized lending protocol …

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NFT Platform Rarible Closes Seed Round With CoinFund

Rarible, a digital art-focused NFT platform, has raised an undisclosed amount in a pre-seed round closed by crypto investment firm CoinFund. “The investment will help Rarible develop a community-governed, blockchain-based NFT marketplace that enables a direct relationship between digital content creators and buyers,” Rarible’s announcement said. CoinFund supports its investment with the view that blockchains …

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SushiSwap Drains Uniswap Liquidity. Still, Everyone Won

DeFi experienced what seemed like its first-ever hostile takeover today, except instead of stock buyouts and management shakedowns, it was driven by users switching platforms following their own economic incentives. Crypto capitalism at its finest. 1) well the migration is done; sushiswap is livehttps://t.co/c2JGZJ65Ch — SBF (@SBF_Alameda) September 9, 2020 SushiSwap, a fork of Uniswap, …

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SushiSwap’s Vampire Scheme: Hours Away and With $1.3B at Stake

Hello Defiers! Today’s issue focuses on the SushiSwap / Uniswap debacle, which is shaping up to be one of the most interesting developments in DeFi this year. In less than two days SushiSwap will try to drainUniswap’s liquidity. With $1.3B still in SushiSwap, LPs may very well jump ship at the last minute or they …

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