DeFi
KuCoin Raises $150M, Announces Web3 Expansion
- KuCoin's $150 million pre-Series B funding round was led by Jump Crypto, and increased the valuation of the company to $10 billion.
- KuCoin will use the funds to expand its product offerings, as well as build and invest into DeFi, GameFi, NFT, and crypto wallet platforms.
Deus Finance Exploited for $13.4M in Flash Loan Attack
- Blockchain security firm PeckShield noted the attacker used a $143 million flash loan to inflate the price of DEI, allowing him to steal $13.4 million from Deus Finance.
- This is the second time in two months that a malicious entity had used a flash loan exploit to manipulate the price of digital assets on the DeFi platform.
Uniswap Labs Launches Web3 Venture Wing
- Prior to creating Uniswap Labs Ventures, Uniswap had already invested in 11 projects, including MakerDAO, Aave, Compound, PartyDAO, and others.
- ULV has plans to participate in the governance of Aave, Compound Finance, Ethereum Name Service, MakerDAO, and projects it invests in the future.
Ola Finance Suffers $3.6M Re-Entrancy Attack
- The attack happened on the Fuse Network, one of the many blockchains Ola operates on, and took advantage of a vulnerability in one of Ola's smart contracts.
- The project has paused all activities on Fuse Network, and noted the attack has not affected its services on other blockchains, which remain operational.
Coinbase Wallet Adds Support for Solana Tokens
- Coinbase users can now use the exchange's self-custody wallet to store, send, and receive SOL and Solana-based tokens.
- The exchange also revealed it was looking to add wallet support for Solana-based NFTs and dApps in the near future.
Aave Launches v3 on Six Blockchains
- Aave v3 features a range of new functionalities and mechanisms designed to improve user experience, risk management, and capital efficiency.
- Some of the most highly anticipated features include the cross-chain portals, high efficiency mode, isolated markets, and gas optimization model.
Cake DeFi Launches $100M Venture Capital Arm
- Cake DeFi Ventures will focus its investments on the web3, metaverse, non-fungible tokens (NFTs), gaming, and fintech spaces.
- The first company to receive funding from CDV will be United States-based media startup The Edge of Company.
Avalanche Foundation Launches $290M Subnet Incentive Program
- The Avalanche Foundation's "Metaverse" program aims to accelerate the adoption and growth of the Avalanche network subnet functionality.
- The first two projects selected for the program are an NFT gaming project, and an institutional DeFi initiative with a native KYC functionality.
Prominent Developer Andre Cronje Leaves DeFi
- One of the most prominent figures in DeFi, Andre Cronje, has decided to withdraw from the space, and "terminate" his involvement with 25 projects.
- While he has not been involved in the day-to-day operations of many of these projects for years, they still saw the price of their tokens drop after the announcement.
How to Find The Best DeFi Pools For Your Assets
- Investment opportunities in defi are innumerous, but finding the best hasn't been an easy task thus far.
- Yield Samurai is a decentralized finance data aggregator that helps investors find the highest-yielding pools in a few clicks.