SBTC Plummets by 99% as Devs Announce Dissolution of Token
The price of SBTC plunged by nearly 98% in just over an hour on September 21 as devs announced the dissolution of the token. The dissolution announcement came more than a month after the token reached an all-time high of $5.07. At the time of writing, the token was quoted at $0.007 down from $0.64. In a short announcement issued via a Discord group, the SBTC team said they are no longer proceeding with the project while thanking those that stuck with the project until the end. According to information on Coinmarketcap, creators of the SBTC aimed to peg the token price to 0.0001 BTC or....
Related News
The cryptocurrency community has been discussing the Kucoin hack as a great number of ERC20 projects have frozen, paused, or reversed their smart contracts after the hack. Estimates say that at least $129 million ERC20 tokens affected are considered “safe” from the hacker’s clutches. Additionally, evaluations show the breach may be much larger than originally estimated, as one report says the compromise saw $280 million stolen. The Kucoin hack has been the talk of the town in crypto land these days, as the exchange was hacked on September 25, 2020. News.Bitcoin.com....
At the non-fungible token (NFT)-focused conference, NFT.NYC, developers from the Metalcore Foundation and Studio 369 revealed an NFT-powered mechanized combat video game. The game’s creators have worked on projects for Activision, Disney, Lucas Films, Midway, and the Mechwarrior, Mortal Kombat, and Gears of War franchises. Metalcore Foundation, Studio 369 Reveal Blockchain-Powered Mech Battle Game A game development team behind an organization called the Metalcore Foundation and video game developer Studio 369, announced a new multiplayer mechanized combat blockchain-powered video....
A possible exploit in DeFi protocol Harvest Finance has caused the site's TVL to drop sharply, along with the price of its FARM token.
The Maker Foundation has returned 84,000 MKR to the project’s DAO in a major milestone for the protocol’s road to decentralization. The MakerDAO Foundation has returned 84,000 MKR tokens from its development fund to MakerDAO’s governance module, marking a milestone in the project’s path to decentralization.In a May 3 blog post, the foundation notes that “no conditions or expectations” have been placed on MakerDAO regarding the returned tokens, with Maker Governance now having complete control over the tokens.The announcement states that with the return of the development and the completion....
L2 scaling solution Synthetix collaborated with Curve Finance to create Curve pools for sETH/ETH, sBTC/BTC and sUSD/3CRV, allowing investors to convert synths into tokens. Layer-2 scaling solution Synthetix recently collaborated with liquidity provider Curve Finance to create Curve pools for sETH/ETH, sBTC/BTC, & sUSD/3CRV, allowing investors to cheaply convert synths such as sETH to Ether (ETH). Given the investors’ willingness to hold tokens instead of synths, the protocol racked up over $1.02 million in trading fees — overshadowing Bitcoin’s (BTC) daily performance by five....