Investors Eye Digital Currency Group After FTX’s Implosion
Hello Defiers! Here’s what we are covering today:
News
- MakerDAO to Liquidate Overleveraged Vaults and Absorb $1.3M in Bad Debt
- Paradigm Accused Of Copying Code For Rust-Based Ethereum Client
- Layer 2 Gas Usage Up 170% in 2022 as Adoption Surges
- US ApeCoin Holders Will Be Blocked From Official Staking Website
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News
DeFi Lending
MakerDAO to Liquidate Overleveraged Vaults and Absorb $1.3M in Bad Debt
USDC, USDP and GUSD Vaults Affected
By Samuel Haig
MakerDAO, the largest DeFi protocol with $6.4B in total value locked (TVL), has said it will liquidate heavily leveraged vaults in a bid to prevent the protocol from accruing excessive bad debt.
Read the full story on The Defiant
Ethereum
Paradigm Accused Of Copying Code For Rust-Based Ethereum Client
Erigon To Wind Down Support For Akula
By Samuel Haig
On Nov. 24, Erigon announced that it is winding down support for Akula, a Rust implementation of OpenEthereum. The team said they decided to sunset the project after becoming aware of a competing product from an entity with incomparable resources and influence.
Read the full story on The Defiant
Sponsored Post
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FTX Crisis
The ‘DEF CON Scenario’: Investors Eye Digital Currency Group After FTX’s Implosion
Genesis Reportedly Considering Bankruptcy As Funding Proves Elusive
As FTX collapsed — and the tide came in — builders, investors, aficionados and just about anyone with a passing interest in cryptocurrencies wondered: who else had been swimming naked?
All eyes are now on Digital Currency Group (DCG).
The crypto conglomerate, whose subsidiaries include some of the biggest names in the industry, is tottering in the wake of FTX’s bankruptcy.
Read the full story on The Defiant
Layer 2s
Layer 2 Gas Usage Up 170% in 2022 as Adoption Surges
Arbitrum Continues to Lead Sector After Nitro Upgrade and OpenSea Integration
By Samuel Haig
Ethereum’s Layer 2 (L2) ecosystem is seeing record network activity despite the bear market, with the monthly gas spent on settling L2 transactions set to post its second consecutive all-time high.
Read the full story on The Defiant
NFTs
US ApeCoin Holders Will Be Blocked From Official Staking Website
Eleventh-Hour Decision Riles BAYC Community
Residents from several countries including the United States and Canada are prohibited from accessing ApeStake.io, the official website for staking APE tokens.
Read the full story on The Defiant
Defiant Video
Thankful for Crypto
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Making Web 3 More Accessible
