Finance Redefined: If it ain’t broke, don’t fix it? Jan. 6–13
A DeFi dev’s vent highlights why traditional investment has its merits. Finance Redefined is Cointelegraph's newsletter focusing on the latest events and trends of DeFi, delivered to subscribers every Wednesday.This week I wanted to highlight Andre Cronje’s recent confession on Medium, which triggered a fair bit of discussion and quite a bit of salt from Uniswap team members. This particular spat occurred because he complained about developers just forking someone else’s code and launching it themselves. For those unaware of the irony, this is basically what SushiSwap, a Yearn ecosystem....
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“If it ain’t broke, don’t fix it,” is a classic phrase often repeated, and it naturally applies itself to money that protects our wealth.
“This town ain’t big enough for the two of us…” It’s a line we’ve likely heard in various westerns, and yet it’s probably something bitcoin has said at least once or twice to its newly developing crypto-cousins. No doubt that six years ago, when bitcoin was just starting out, it was ready to take the digital world by storm as the only currency of its kind. Over time, however, bitcoin’s territory was being invaded. Dogecoin, Litecoin, Darkcoin, they just kept coming, and they simply haven’t stopped. It appears as though every week a new digital coin is emerging from the shadows, ready to....
Four hacks in a week are too much, even for DeFi. If people actually used insurance against hacks, this week would definitely have bankrupted a great many insurers. A total of four flash loan-enabled exploits were registered in the span of one week (one of them actually happened the week before, but nobody noticed until later).We have, in order, Cheese Bank with a $3.3-million theft, Akropolis with its $2-million loss, Value DeFi with a whopping $6-million exploit, and finally Origin Protocol’s loss of $7 million.In total the hackers stole $18.3 million, which admittedly is not that much —....
Majority of the top-100 DeFi tokens broke out of three week long bearish phase and registered double digit gains over the past week. Welcome to Finance Redefined, your weekly dose of key decentralized finance (DeFi) insights, a newsletter crafted to bring you some of the major developments over the last week.This past week, the DeFi ecosystem got recognition from the United Kingdom government, as they sought public feedback on taxation of the DeFi ecosystem, especially staking and lending.MakerDAO is looking to collaborate with the traditional banks, which would take place after the....
The Alpha Homora hack is still rippling through markets. Finance Redefined is Cointelegraph's DeFi-centric newsletter, delivered to subscribers every Wednesday.The Alpha Homora and Cream Finance hack has made a gigantic mark in the DeFi space this week.It is the largest single hack in DeFi history at $37 million in funds stolen. It is also one of the most complex, apparently leveraging several honest-to-God vulnerabilities in Alpha Homora. A few missing input checks in very specialized conditions allowed the hacker to abuse Alpha Homora’s privilege of borrowing an unlimited amount of funds....