Today in DeFi - Polygon to Ethereum Fast Withdrawal, WildCredit (White)-hacked, and More...

2 years ago 398

Polygon to Ethereum Fast Withdrawal

Hop Protocol showcased its Polygon to Ethereum withdrawal: as fast as in a few minutes, compared to the hour(s) or days that the regular Polygon bridge takes.

Hop is a protocol for transferring tokens across L2 solutions. Find out more in their introductory post.

Sushiswap

Today in DeFi is sponsored by Sushiswap.

Sushiswap is a DeFi-Native DEX which features the best liquidity across many DeFi pairs such as YFI, SNX, and AAVE.

Sushiswap has recently launched Bentobox, gas-efficient lending platform for DeFi, as well as Kashi, a one-click margin-trading platform.

Check out Sushiswap at Sushi.com, or try the Bentobox/Kashi beta at staging.sushi.com

WildCredit White Hack

WildCredit, an AMM plus lending protocol with no IL, got hacked for ~637k in their BNT-ETH pool.

The hack was due to a rather simple error in the code, pointed out by Sushi Dev Mudit Gupta.

The attacker was front-run by another white-hat attacker, who later returned all funds to WildCredit.

DeFi Grants Aggregator

DeFi Grants launched a grants aggregator, letting DeFi builders easily search for multiple grants in one place. People interested in building projects & getting involved with communities can apply.

BadgerDAO ibBTC Public Launch

Twitter avatar for @BadgerDAO₿adger DAO 🦡 @BadgerDAO
ibBTC is officially live, bringing liquidity and utility to Badger users vault positions. Mint here now👉
bit.ly/3bYmf5r ➡️Unlimited minting capability ➡️No per wallet limit ➡️All addresses qualify Provide liquidity on Sushiswap ➡️ bit.ly/3fNMgFr Image

₿adger DAO 🦡 @BadgerDAO

Badgers tomorrow we're officially launching interest bearing bitcoin (ibBTC) after a successful 3 weeks in a guarded state. There will be no cap for total or per wallet minting. ibBTC showcases the capital efficiency & composability only achievable on Ethereum today. Thread https://t.co/wee1Rtoh02

BadgerDAO did a ibBTC guarded launch for eligible users 3 weeks ago, and now it’s open to the public. Users can use tokenized BTC to mint ibBTC and then deposit into Badger Setts to do liquidity mining.

BurgerSwap Hack

BurgerSwap, an AMM project on BSC, got exploited by a flash loan attack and lost $7.2m in funds.

Twitter avatar for @haydenzadamsHayden Adams 🦄 @haydenzadams
This thread sounds complicated. Here's what happened very simply. Uniswap v2 fork removed the only line that enforces x*y=k from core: So core could very trivially be drained. This is the line that was removed:
github.com/Uniswap/uniswa… iWoNDerWhYTHeyDiDtHAt

Igor Igamberdiev @FrankResearcher

6/7 The exploit happened because the attacker could do reentrance and did a second swap before reserves, which are used to calculate the number of tokens in swaps, were updated. https://t.co/45DNYtycbO

The hack was due to the removal of a xy=k check, a core part of the Uniswap protocol which was forked.

Follow @todayindefi to keep up with the latest DeFi news on Twitter.

Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned.

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