Welcome to the 106th issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between August 7th and August 14th, 2022.
🔥 The DeFi Bulletin
- Curve Finance’s frontend was compromised via DNS spoofing last week.
- According to a report by Elliptic, $540M was laundered through RenBridge by scammers and hackers.
- Tornado Cash, a crypto mixer, was recently sanctioned by the US and also by Infura and Alchemy, but the contract and website still remain up and functioning. Also, a suspected developer of Tornado Cash was arrested by the Netherlands, and the Tornado Cash DAO, meanwhile, also voted to take partial control over treasury funds.
- Circle also announced their call to action in support of privacy for DeFi, after the Tornado Cash sanction, but on the opposite end Pocket Network announced that they’re taking steps to ensure compliance after the sanctions. Additionally, Commonwealth created a proposal for Osmosis to permanently support and update blocked.go.
- Ethereum’s third and final testnet merge went live on Goerli recently.
- Impossible Finance recently celebrated their anniversary, and looked back at their released features and updates.
- Encode announced an Encode x Wintermute MEV Hackathon, dedicated to building MEV projects.
- LongHash Ventures closed a $100M funding round for a second fund, aiming to support web3 infra.
- Injective raised $40M in funding, with the round led by Jump Crypto.
- CreatorDAO secured $20M in seed funding, with the round being co-led by a16z and Initialized Capital.
- RISC Zero closed a $12M funding round, aiming to build a blockchain with zero-knowledge proofs.
- Datawisp secured $3.6M in seed funding, with the funds going towards expanding its B2B no-code data platform for web3.
- Cashmere raised $3M in funding, with the company aiming to build a Solana enterprise wallet with the funds.
💵 State of the Stablecoins
- Tether reported in a blog post that they’re approving of the ETH PoS merge.
- MakerDAO’s founder stated that it’s ‘almost inevitable’ that $DAI is going to abandon its USD peg.
💱 DEX Report
- TracerDAO announced Mycelium, a perpetual swaps service, which is supposed to launch soon.
💎 NFT News
- Pinata, an NFT infra provider, secured $18M in funding, with the round co-led by investors Greylock and Pantera Capital.
Thanks for reading, and be sure to catch the 107th issue of The Defiprime Post out this time next week! 👋♦️👋
