Cardano meme coin SNEK has been garnering a lot of attention from the crypto community lately. On May 11, InputOutput (IO) CEO Charles Hoskinson posted a tweet asking, “What the heck is this #Snek thing that people keep tweeting about?” Some took this to mean a Hoskinson-IO endorsement of SNEK. However, in a more recent […]
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Arbitrum-based Jimbos Protocol was hacked for a little over 4000 Ethereum (ETH) — roughly $7.5 million — using a flash loan exploit on May 28. Blockchain analytics firm PeckShield first raised the alarm and alerted Jimbos and the community about the exploit. The protocol’s native token crashed by approximately 40% to $0.19 from $0.31 after […]
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On May 27, Beijing released an “Internet 3.0 Innovation and Development” white paper outlining advancements and support for Internet 3.0 (web3) and the metaverse, according to reports from Chinese media, ThePaper. However, as Binance CEO Changpeng Zhao (CZ) highlighted on Twitter, the white paper’s publication is just days from the upcoming June 1 application opening […]
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Decentralized finance (DeFi) protocol MakerDAO increased its DAI savings rate (DSR) to 1% in December 2022. The move led to over 35 million DAI being deposited within a month, as per MakerDAO. Now, a new proposal to increase the DSR to 3.33% is under discussion. The proposal was put forth by risk management firm Block Analitica […]
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