DomanAfter Mango Markets exploit, Compound pauses 4 tokens to protect against price manipulation
Decentralized lending protocol Compound has paused the supply of four tokens as lending collateral on its platform, aiming to protect users against potential attacks involving price manipulation, similar to the recent $117 million exploit of Mango Markets, according to a proposal on Compound’s governance forum that was recently passed. With the pause, users will not be able to deposit Yearn.finance’s YFI ( YFI $8,126 ), 0x’s ZRX, Basic Attention Token (BAT) and Maker’s MKR ( MKR $968 ) as col...
DomanWhat is decentralized identity in blockchain?
1.What is a decentralized identity? A decentralized identity is a self-owned, independent identity that enables trusted data exchange.Decentralized identity is an emerging Web3 concept based on a trust framework for identity management. Such decentralized identity management includes an approach to identity and access administration that allows people to generate, manage and control their personally identifiable information (PII) without a centralized third party like a registry, identity pro...
DomanAxie Infinity cuts rewards from classic game, subtly forcing P2E players to new mode
Play-to-earn (P2E) blockchain game Axie Infinity (AXS) has completely removed the token rewards from its classic game mode to attract its users to a new game mode called Axie Infinity Origin. The Axie Infinity team announced that starting on Aug. 12, there will be no more Smooth Love Potions (SLP) to be minted on its classic mode. According to the team, the SLP rewards will be migrated to their new game mode. However, minting will be unavailable for 30 days as the team conducts a monitoring p...
cryptocurrency enthusiast
DomanAfter Mango Markets exploit, Compound pauses 4 tokens to protect against price manipulation
Decentralized lending protocol Compound has paused the supply of four tokens as lending collateral on its platform, aiming to protect users against potential attacks involving price manipulation, similar to the recent $117 million exploit of Mango Markets, according to a proposal on Compound’s governance forum that was recently passed. With the pause, users will not be able to deposit Yearn.finance’s YFI ( YFI $8,126 ), 0x’s ZRX, Basic Attention Token (BAT) and Maker’s MKR ( MKR $968 ) as col...
DomanWhat is decentralized identity in blockchain?
1.What is a decentralized identity? A decentralized identity is a self-owned, independent identity that enables trusted data exchange.Decentralized identity is an emerging Web3 concept based on a trust framework for identity management. Such decentralized identity management includes an approach to identity and access administration that allows people to generate, manage and control their personally identifiable information (PII) without a centralized third party like a registry, identity pro...
DomanAxie Infinity cuts rewards from classic game, subtly forcing P2E players to new mode
Play-to-earn (P2E) blockchain game Axie Infinity (AXS) has completely removed the token rewards from its classic game mode to attract its users to a new game mode called Axie Infinity Origin. The Axie Infinity team announced that starting on Aug. 12, there will be no more Smooth Love Potions (SLP) to be minted on its classic mode. According to the team, the SLP rewards will be migrated to their new game mode. However, minting will be unavailable for 30 days as the team conducts a monitoring p...
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Crypto platform Freeway has halted some of its services, citing "unprecedented volatility" in the foreign exchange and cryptocurrency markets in “recent times.”
In an Oct. 23 post, the platform announced they are halting buys, deposits and will "not be buying Supercharger simulations until our new strategies are implemented."
According to the Freeway website, their "Superchargers" product can offer up to 43% annual yield rewards. Users can deposit fiat currencies and crypto, which are placed in regulated brokerage accounts which are leveraged for returns.
A centralized platform, Freeway advertises itself as combining the best of traditional finance with the best of decentralized finance (DeFi).
Freeway has not provided any specific details about what its new strategies might involve, but said in the announcement there are plans to "diversify its asset base" and "manage exposure to future market fluctuations and volatility."
What exactly this could mean for the platform and its users is unclear, but the post closes by promising to provide updates soon.
"We will notify you when we are ready to recommence partial Supercharger simulation purchases (buy-backs) and then again as we can recommence full Supercharger simulation purchases as well as on platform Freeway Token (FWT) Deposits and Buys."
Cointelegraph contacted Freeway for comment on the status of its withdrawals and for further clarification about the halt of services but was not given any new information.
The news about halting some services has seen their token Freeway (FWT) drop more than 75% in the last 24 hours, according to Coingecko.
In the wake of other high-profile issues with crypto firms and exchanges, users have been expressing their concerns on social media and in the Freeway Telegram group.
Whether withdrawals will be honored and if Freeway will follow other high-profile crypto platforms in permanent closure are the two most prominent.
Related: Maple Finance CEO: Separating risk from lending saved DeFi from market crash
So far a lone Freeway moderator/admin has been advising users to fill out a support ticket and reported they can't "really say anything more until the next official communications are forthcoming."
"The whole team are working very hard with the intention to recommence partial Supercharger simulation purchases (buy-backs) and then to again be able to recommence full Supercharger simulation purchases," the moderator added.
Crypto platform Freeway has halted some of its services, citing "unprecedented volatility" in the foreign exchange and cryptocurrency markets in “recent times.”
In an Oct. 23 post, the platform announced they are halting buys, deposits and will "not be buying Supercharger simulations until our new strategies are implemented."
According to the Freeway website, their "Superchargers" product can offer up to 43% annual yield rewards. Users can deposit fiat currencies and crypto, which are placed in regulated brokerage accounts which are leveraged for returns.
A centralized platform, Freeway advertises itself as combining the best of traditional finance with the best of decentralized finance (DeFi).
Freeway has not provided any specific details about what its new strategies might involve, but said in the announcement there are plans to "diversify its asset base" and "manage exposure to future market fluctuations and volatility."
What exactly this could mean for the platform and its users is unclear, but the post closes by promising to provide updates soon.
"We will notify you when we are ready to recommence partial Supercharger simulation purchases (buy-backs) and then again as we can recommence full Supercharger simulation purchases as well as on platform Freeway Token (FWT) Deposits and Buys."
Cointelegraph contacted Freeway for comment on the status of its withdrawals and for further clarification about the halt of services but was not given any new information.
The news about halting some services has seen their token Freeway (FWT) drop more than 75% in the last 24 hours, according to Coingecko.
In the wake of other high-profile issues with crypto firms and exchanges, users have been expressing their concerns on social media and in the Freeway Telegram group.
Whether withdrawals will be honored and if Freeway will follow other high-profile crypto platforms in permanent closure are the two most prominent.
Related: Maple Finance CEO: Separating risk from lending saved DeFi from market crash
So far a lone Freeway moderator/admin has been advising users to fill out a support ticket and reported they can't "really say anything more until the next official communications are forthcoming."
"The whole team are working very hard with the intention to recommence partial Supercharger simulation purchases (buy-backs) and then to again be able to recommence full Supercharger simulation purchases," the moderator added.
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