Today in DeFi - Aptos x Google Cloud, DFX Reentrancy Exploit, WooFi Arbitrum Farming, and More...

1 year ago 211

Aptos x Google Cloud

Aptos and @googlecloud are partnering up again—and we've got big plans for 2023. Building community is the most important thing we can focus on. Our partnership is aimed at moving the Web3 movement forward with community and strong tech at the heart.

Google Cloud will validate nodes and participate on the Aptos mainnet, and Aptos blockchain will also be indexed and made available on Google Cloud's BigQuery service. Both parties are also set to launch an accelerator program as well as co-host a hackathon.

DFX Reentrancy Exploit

DFX Finance @DFXFinance

1) Today we were notified about suspicious activity happening in the #DFX contracts. The attack started at Nov-10-2022 07:21:59 PM +UTC originating from wallet 0x14c19962e4a899f29b3dd9ff52ebfb5e4cb9a067.

On-chain forex protocol DFX’s DEX pool is hacked and lost 3000 ETH ($~4m) due to the lack of proper reentrancy protection.

LayerZero FTX Equity Buyout

Bryan Pellegrino @PrimordialAA

There is roughly ~2.8m STG in FTX right now. Assuming FTX is willing to work with us in whatever manner they did with TRX we will accept STG balances and give 6-month locked veSTG at a rate of 1:1 (STG basis) to the underlying STG.

Cross-chain messaging startup LayerZero Labs has come to an agreement with FTX to purchase all of Alameda’s exposure to Stargate (LayerZero’s bridging product) by buying all of its locked STG tokens. Similar to what Justin Sun had to offer, users will be able to trade for veSTG and get their funds out of FTX.

BlockFi Pauses Withdrawals

BlockFi @BlockFi

CeFi lender BlockFi tweeted that the platform has suspended withdrawals and will not be able to operate business as usual given the lack of clarity over the status of FTX. Blockfi was insolvent due to 3ac contagion until FTX agreed to bail it out. Now that FTX is in trouble, Blockfi’s financial status is once again uncertain.

Concerns on Gemini

Mishaboar @mishaboar

Alarm #Dogecoin: Genesis Trading, part of the Digital Currency Group, Barry Silbert’s company, is obviously also affected by the FTX collapse. If you have followed my feed, Genesis is the main borrower of your crypto on Gemini Earn. Take it out, NOW!

cointelegraph.comGenesis Trading reveals $175M of funds are locked in FTXGenesis Trading is the latest firm to declare exposure to FTX and may look to its parent company for help as it did after the 3AC bankruptcy.

There are concerns about US exchange Gemini, as its’ Earn Program was run by Genesis Trading, which the trading firm reveals a $175m fund lockup in FTX. If you have funds on Earn (or even Gemini) it could be worth withdrawing.

Velodrome Stimulus Program

Velodrome (🚴,🚴) @VelodromeFi

🚨 Velodrome's Governance Proposal Has Passed! That means we'll be investing an additional 4M $OP over the next six months into expanding the Optimism ecosystem. Combined with our match, ~$10M in stimulus is coming to help onboard and sustain projects on Optimism. 🚴‍♀️💨✨

Optimism-based DEX Velodrome passed the proposal to launch a combined stimulus program to lower liquidity incentive costs for protocols and boost TVL on Optimism.