Welcome to the 55th 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 8th and August 15th, 2021.
Want more in-depth knowledge? We have communications over at our Telegram channel @defiprime. Check out defiprime’s latest news, interviews, guides and more with daily updates.
🔥 The DeFi Bulletin
- The largest DeFi exploit to date has recently unfolded, with more than $600M stolen from Poly Network. The hacker then returned $256M of the stolen crypto.
- Recently, Punk Protocol was also exploited in its Fair Launch, with a $8.9M contract loss, the team with the help of white-hat hacker managed to recover $4.9M.
- Reportedly, the US Senate did not adopt a new compromise for cryptocurrency in the infrastructure bill due to objection by a lone senator.
- The first Alpha Launchpad project, Beta Finance, is about to have their 2-Phase launch occur on August 18th.
- Mask Network has recently launched the Social DeFi Alliance, with 15 founding partners.
- Wondering about derivatives? We recently talked with Charles Smith of Shield Protocol about their protocol itself, which aims to build a one-of-a-kind future derivatives infrastructure. Find it here.
- We recently did an interview with 0xJohnny of Punk Protocol, and how their team is working on building the first 401(k) pension service on ETH. Find it here.
- Polygon has recently acquired Hermez Network for approximately $250M, where it will become part of its platform.
- Perpetual Protocol has recently launched a $47M fund to boost DeFi derivatives, inking a token swap partnership with three separate DeFi projects.
- Dune Analytics recently wrapped up a $8M Series A funding round, led by investor USV.
- Tally has recently raised $6M in funding behind the startup Tally, which builds governance infrastructure for DAOs.
- LyraDAO recently received a $1M contribution from the synthetixDAO, and is also looking forward to working with them.
💱 DEX Report
- Cowswap has finished upgrading to its final version, integrating with Balancer v2 to improve gas prices and UX.
💎 NFT News
- OpenSea has recently been at a tear, and at 14.61%, its primary smart contract is consuming more gas than any other ETH in the 24hrs of August 11th.
- Recently, Ethereum Pet Rock NFTs are managing to sell for more than $200K per rock, with one buyer writing “It’s so stupid that it’s perfect.”
Thanks for reading, and be sure to catch the 56th issue of The Defiprime Post out this time next week! 👋♦️👋