Fei Protocol struggles with a bug as holders are mostly unable to sell the token
A vulnerability patch left the protocol with only partial functionality, but the price is still holding. Wednesday’s crypto market correction put a heavy burden on the FEI project, the latest attempt at creating an algorithmic stablecoin that would remain stable in the face of market turbulence. Due to the particular mechanics of the protocol, the FEI token became impossible to sell as its main liquidity pool quotes a negative price for the token.The Fei protocol is a recently-launched project that has immediately attracted billions in liquidity and total value locked by selling its FEI....
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Aave’s core developers have transferred governance rights over to AAVE token holders, giving its community control over the future of the protocol. Aave has become the latest decentralized finance (DeFi) project to transfer governance rights to its token holders.On Oct. 29, Aave announced that the protocol's admin keys had been transferred from its core developers to governance communities under the command of holders of its native LEND utility token.“Today marks a historic moment for the Aave Protocol: we have officially handed over the protocol admin keys to the governance, an important....
Decentralized finance insurance project Cover protocol briefly suffered losses when an unknown attacker minted over 40 quintillion Cover tokens. However, after successfully cashing out tokens worth about $5 million, the attacker unexpectedly returned ether tokens valued at about $3.2 million before leaving a message for the Cover team. Exploit No Longer Possible Immediately after the attack, the value of the insurance protocol’s token plummeted by over 94% to $34 at the time of writing. After the incident, the Cover team immediately acknowledged the attack and went on to warn....
Ethereum Classic’s ability to gain a somewhat sizeable market share in terms of price and network hashrate has been surprising to many in the digital currency ecosystem, but the darling of blockchain immutability may soon face an issue with new coins coming onto the market from those who may not have that particular blockchain’s best interests at heart. Over the course of the next week, two things will happen. First, roughly 4.1 million ETC will be made available for withdrawal this morning, August 30, from the so-called “White Hat DAO,” which is a child DAO created by a group of....
The FORTH governance token will give community members the ability to propose and vote on changes to the Ampleforth protocol. Base-money protocol Ampleforth has announced the launch of a new governance token Wednesday, setting the stage for further expansion and community engagement following a successful year of adoption. The project said that the FORTH token is meant to serve as the basis of Ampleforth’s evolution, with more than 75,000 users set to become founding members of the governing body. Holding FORTH tokens would entitle users to propose and vote on changes to Ampleforth’s....
A U.S. judge has denied the request to add XRP token holders as intervenors in the Securities and Exchange Commission (SEC)’s ongoing case against Ripple. In a ruling made one day after the motion was filed, the judge, Analisa Torres denied the token holders’ request “without prejudice to renewal.” Protecting Interests of XRP holders In their motion filed on March 14, 2021, XRP holders said their desire to be included in the SEC’s proceedings against Ripple was on the grounds that this would enable them to protect their interests. They added that....