DEX aggregator 1inch surprised DeFi users with a holiday treat with the release of the 1INCH governance token on Christmas Eve. 1INCH features a total supply of 1.5B tokens, which unlocks every 6 months over the course of the next 4 years. Tokens were airdropped to all wallets that made at least one trade before…

Decentralized insurance platform, Opyn, announced the release of “Gamma Protocol,” second version of its options protocol. The new upgrade aims to add capital efficiency and liquidity to the DeFi options market. Among the changes, Gamma Protocol provides mint options without collateral as long as they are burned before the end of the transaction – similar…

DeFi’s rising insurance protocol Cover Finance was exploited for $9.4M worth of user funds after a group of hackers used a faulty smart contract to mint quadrillions of COVER tokens. Cover Finance allows users to buy smart contract protection on supported DeFi protocols by buying CLAIM tokens that can be redeemed in the event of…

The Link marines are on the backfoot after last week’s flash crash to $7 pushed investors towards a risk-off stance. The cryptocurrency trades just under a pivotal $12-$13 order block, signaling that the market wipe might not be over yet. Seller’s Market Chainlink entered a sellers’ market on Dec. 23 as the altcoin succumbed to…

2020 was a big year for DeFi. The sector became the engine behind the crypto renaissance that saw BTC break through $24K and the industry’s market cap push past $680B. Decentralized applications finally started to see sustained usage and the industry took a giant step forward in realizing its macro vision for a web3 economy.…

Crypto hardware wallet provider Ledger had thousands of its users’ sensitive information leaked to the public this weekend. The data breach that occurred in June was brought to light after a public hacker shared the stolen data on leaking site Raidforum, after months of it supposedly ‘selling for six figures’ on dark marketplaces. The proprietary…

Ethereum-based social network Cent has caught Twitter by storm through its new Valuables feature, allowing users to buy Tweets, minted as scarce, digital assets. “The creator of this tweet decides whether to turn their work into a limited edition, one-of-one NFT,” states the website. “Prior to them deciding, anyone can make an offer for them…

After a week of record volumes for 2020, bitcoin’s price dropped on decreasing trading volumes. Meanwhile, assets locked in DeFi are recovering since the November dip – said to be due to the Ethereum 2.0 network upgrade. Bitcoin is trading around $22,770 (Bitfinex) at the time of writing, reclaiming some of the losses from the…

Tornado Cash presented a governance proposal to incentivize use of the Ethereum-based privacy tool via a new token called TORN. Tornado Cash allows users to deposit a fixed amount of supported assets (ETH, USDC, DAI) and “wash it” through an anonymity pool. That deposited value can be redeemed by the receiving address using a note…

Investors are depositing millions into new DeFi protocols launched by anonymous developers, at times only to be wiped away in a hack.   The latest to suffer that unfortunate fate is Warp Finance.  Promising to be a money market where users can borrow and lend tokens and stablecoins representing liquidity in automated market makers, Warp rapidly…