Welcome to the 157th 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 13th and August 20th, 2023.
🔥 The DeFi Bulletin
- Exactly Protocol was exploited for $7M.
- Venus Protocol liquidated $62.5M from a wallet linked to a BNB bridge hack.
- Offchain Labs stated that Arbitrum was not down for an hour, despite issues with transaction processing.
- Connext is to airdrop its native token “Next” in early September.
- Mantle proposed that $FTX and $BIT tokens should not auto-convert to $MNT tokens.
- Trading volume for assets made with the Bitcoin Ordinals protocol fell over 97% since May, according to a report.
- A proposal to merge Ribbon DAO into Aevo was recently passed in a governance vote.
- Kraken Ventures sought to raise $100M for its second fund.
- Dinari raised $7.5M in funding for its decentralized stock trading platform.
- Linera, an L1 blockchain, raised an additional $6M in its funding round.
- Lore closed a $2.3M funding round, aiming to compete with Etherscan.
- JKLabs, a project using on-chain reputations for governance, raised $2M in pre-seed funding.
💵 State of the Stablecoins
- Coinbase is suspending $USDT trading in Canada at the end of the month.
💎 NFT News
- OpenSea disabled its royalty enforcement tool, while also making creator fees optional.
- ‘Bored Apes’ investors have sued Sotheby’s, Paris Hilton, and others as NFT prices have collapsed.
Thanks for reading, and be sure to catch the 158th issue of The Defiprime Post out this time next week! 👋♦️👋