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Curve has faced multiple setbacks, such as the Conic, JPEG’d, and Curve hacks, which have impacted its total value locked (TVL) and caused ripple effects on the price and liquidity of CRV tokens. As a result, Abracadabra Money is considering raising interest rates to mitigate its exposure to CurveDAO’s native token, CRV. Abracadabra Money proposes rate adjustment In an August 1 announcement, Abracadabra Money proposed adjusting interest rates on collateral-based rates across CRV cauldrons.  The proposal suggests charging interest on the cauldron’s collateral before moving into the protocol’s treasury, similar to what the DAO did with Wrapped Bitcoin and Wrapped Ethereum cauldrons.  You might also like: EU’s MiCA rules could prohibit MEV activities on Ethereum The adjustments will be 30% on a principal of $0M-$5M, 100% on a principal of $5 to $10 million, and 200% on a principal of $10 to $18 million. They will be combined on the collateral ratio...

The highest recently generated block reward was 584 ETH, created by a MEV bot front-running transactions during the DeFi chaos. The recent Curve Finance exploit has reportedly led to one of the largest ever Maximal Extractable Value (MEV) reward block s of 584.05 Ether (ETH).  On July 31, Ethereum core developer “eric.eth” reported that “today has produced some of the largest MEV reward blocks in Ethereum’s history,” adding it was caused by the exploit of Curve Finance stable pools on July 30. Data shows a larger MEV reward block of 692 ETH was recorded in March. “A bot notices an incoming hack in the mempool, reproduces the tx [transaction] and front runs it”, he explained before adding, “To do so they pay the block producer a lot of ETH to be front of the line.” Today has produced some of the largest MEV reward blocks in Ethereum’s history. Slot 6,992,273: 584 ETH Slot 6,993,342: 345 ETH Slot 6,992,050: 247 ETH Slot 6,993,346: 51 ETH — eric.eth (@econoar) July 30, 2023 ...

Alphapo, a payment processor, reportedly fell victim to hackers, resulting in a loss of more than $23 million in various coins and tokens. Crypto “detective” ZachXBT, who has been closely tracking the movement of stolen funds across different networks, brought to light the Alphapo attack on July 23. Earlier today Alphapo hot wallets were drained for $23M+ on ETH, TRON, BTC. HypeDrop (Alphapo customer) has since had withdrawals disabled. On Ethereum the stole n funds were swapped for ETH then bridged to Avalanche and Bitcoin. pic.twitter.com/pj7i3ZlBrX — ZachXBT (@zachxbt) July 23, 2023 According to ZachXBT’s report, the hackers exploited vulnerabilities in Alphapo’s security measures, gaining access to the platform’s hot wallets for Ethereum, Tron, and Bitcoin. Subsequently, they drained these wallets, causing substantial losses for the payment processor. As part of their attack, the hackers utilized the stole n tokens to purchase additional ...

Although utilization rose, protocol and supply revenue declined, as more providers slashed fees to incentivize adoption. According to a July 13 report by Messari, Filecoin currently averages 954.2 pebibytes (1.07 billion gigabytes) worth of storage deals on its network, compared with 12.2 exbibytes (14.1 billion gigabytes) worth of raw storage capacity. Until recently, uptake had been sluggish due to high storage costs compared with centralized alternatives such as Amazon Web Services. During the most recent quarter, the protocol generated 2.5 million of its own Filecoin (FIL) in revenue, amounting to $11.5 million, representing a decline of 40.7% compared to last year’s second quarter in dollar terms. However, the decline was partly due to a sharp drop in the price of FIL tokens due to the 2022 cryptocurrency bear market, which was somewhat offset by the sharp increase in active storage deals. The price plunge also affected supply-side revenue, or money earned from block rewards...

The UK Treasury is seeking input on taxing the DeFi space, and on provisions around staking and lending. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The taxation arm of His Majesty’s Treasury in the United Kingdom has proposed new regulatory changes to simplify how DeFi returns are taxed and reduce the “administrative burden” for taxpayers. A DeFi options protocol has raised $17 million for a buy-side marketplace and an expanded number of listed tokens. USD Coin (USDC) issuer Circle launched a cross-chain USDC transfer protocol between Ethereum and Avalanche. Ordinals Finance, an Ethereum-based DeFi protocol, allegedly rug-pulled its users for over a million dollars and erased its presence from all social media platforms as news about the same broke out. The top 100 DeFi tokens by market capitalization had another mixed week in terms of price ...

Cryptocurrencies have become a popular investment option among investors due to their high returns and volatility. Dogecoin (DOGE), Shiba Inu (SHIB), and RenQ Finance (RENQ) are three such cryptocurrencies that have gained significant attention in the past year. In this article, we will compare these three cryptocurrencies and analyze which one has the potential to survive in the longer run. Dogecoin (DOGE) Dogecoin was created in 2013 as a joke by two software engineers, Billy Markus, and Jackson Palmer. However, the cryptocurrency gained popularity after tweets from Elon Musk and other celebrities. In 2021, Dogecoin reached its all-time high of $0.74, but its price has declined. As of writing, the price of Dogecoin is $0.09, reflecting a 1.46% change over the past 24 hours. The recent price fluctuations have left Dogecoin’s market capitalization at $12,908,696,798.00. In 2023, Dogecoin experienced a change of 30.85%, making it a popular choice for investors seeking short-t...