Wednesday, September 4, 2024
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September is starting to look like another slippery slope for the markets. In today's news:
Read on! | | 24h Hot Searches Worldwide 🔥 | | | Ready for GeckoCon 2024? 🚀
This year's GeckoCon: Web3 Games Unleashed is set to be our most dynamic event yet, combining the best of both virtual and in-person experiences! Look forward to keynotes & panels by web3 gaming experts, exhibitions, live gaming, interactive workshops and more.
Secure your spot and join us on November 11, 2024, at ICONSIAM in Bangkok, Thailand.
Enjoy 40% off early bird tickets now! | | | | | Magic Eden marked its 6th consecutive month as the top NFT marketplace in 2024, with a 36.7% market share from the $122 million trading volume in August.
Specifically for Ethereum NFT trading, Blur remains in the lead (68.8% share this year); Magic Eden (50.4%) is slightly ahead of Tensor (49.6%) for Solana NFTs; for Bitcoin Ordinals, Magic Eden has emerged as the most popular (61.0%). | | | A DeFi team-up for the ages ☁️ Two of the most prominent protocols, Aave and Sky (formerly known as Maker), are joining forces to further bridge the gap between DeFi and TradFi.
The partnership, known as Sky Aave Force, was proposed after Phoenix Labs, a DeFi research group, had submitted a proposal for the issuance of new SPK tokens to incentivize USDS stablecoin deposits on Sky's Spark subDAO.
According to the proposal, up to 3.33M SPK tokens would be distributed monthly to incentivize Aave's lending markets for sUSDS, a yield-bearing version of USDS that generates yield based on the Sky Savings Rate (SSR).
The proposal further highlights that sUSDS deposits on Aave will continue to generate earnings beyond conventional lending returns for USDC and USDT.
Additionally, the proposal also called for the integration of a Direct Deposit Module (D3M) for USDS, enabling Sky to mint USDS directly into Aave's lending pools.
However, since the announcement of Sky Aave Force, the price of both AAVE and MKR have not moved significantly, in line with the broader market. | | | Learn about Runes - the new fungible token standard on Bitcoin - and how it differs from the existing BRC-20 standard. | | | Pen-etrated 📌 The PenPie protocol, a yield aggregator platform built on top of the popular dApp Pendle, was exploited for $27M earlier today.
The attacker was able to steal various assets from the platform, including sUSDE, as well as various liquid-staked ETH tokens such as wstETH and rswETH.
The stolen funds were then converted into ETH and sent to a new address.
Shortly after the exploit was discovered, PenPie has since paused all deposits and withdrawals on its platform.
Additionally, Pendle was able to swiftly pause their smart contracts, preventing an additional $105M from being compromised. | | | With crypto cards, you can spend your digital assets in your everyday life. Here's our list of some of the top custodial and non-custodial crypto cards available. | | | In Other News... Massive Layoff at ZKsync. Matter Labs announced a 16% workforce reduction as it repositions itself in the competitive Ethereum Layer 2 market. $ZK is currently down 69% from its all-time high of $0.32 Trump Supporters Beware. The X accounts of Donald Trump's daughter-in-law and daughter were compromised to promote crypto scams. While Trump is involved in crypto projects, users should remain cautious, as the Trump family is a frequent target for scams.
Polygon's Matic Now POL Token. The transition to a zero-knowledge (ZK) chain was completed this Wednesday. Polygon users do not need to migrate their Matic tokens, but Matic holders on Ethereum and other chains will need to do so.
Binance Teases Upcoming Solana Liquid Staking Product. The product will be similar to DeFi options such as Jitosol or Jupsol. This allows Binance users to enjoy the benefits of liquid staking directly through their platform.
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