Welcome to the 98th issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between June 12th and June 19th, 2022.
🔥 The DeFi Bulletin
- Researchers found cases where recovery phrases could be recovered unencrypted for web-based browsers like MetaMask.
- An attacker performed a flash loan attack, taking $1.2M from Inverse Finance.
- Coinbase has made the decision to lay off 18% of its staff.
- The BNB Beacon Chain has recently gone open-source.
- The future of Three Arrows Capital is uncertain after a bunch of liquidations removed millions.
- The 3AC team also sought funds for a $GBTC trade shortly before their meltdown.
- Merit Circle DAO and Yield Guild Games published a joint statement on a dangerous DAO proposal.
- Aura’s LBP was able to be successfully bootstrapped by the community.
- Forta Network’s $FORT token has gone live.
- Nansen has announced Nansen Connect, which is their vision for a web3 native messaging app.
- StarkNet also revealed Checkpoint, a project for indexing StarkNet data.
- Azuro Protocol has launched its mainnet on the Gnosis chain. Its First Betting Frontend also went live.
- Finblox has implemented a $1.5K withdrawal limit due to 3AC uncertainty.
💱 DEX Report
- Coinbase is facing lawsuits due to losses incurred by users during the depegs of $GYEN and $TUSD.
- Lido’s staked ETH selloff had people unloading as much as 56,000 stETH, making stETH cheaper than ETH.
💵 State of the Stablecoins
- The USDC issuer Circle is planning to introduce a Euro-backed Stablecoin in the US.
- VOLT’s treasury funding and stablecoins were recently discussed on Medium.
- WOOFi launched crosschain swaps between the Avalanche, Fantom and BSC networks.
💎 NFT News
- OpenSea has launched Seaport, setting a goal to save millions in fees.
- Sudoswap AMM was announced, hoping to create a similar concentrated liquidity product for NFTs, but without the downsides of tokenization.
Thanks for reading, and be sure to catch the 99th issue of The Defiprime Post out this time next week! 👋♦️👋