Aave V4 on Arc proposes a $2M/year DAO revenue floor and a USDC, EURC, cirBTC scope. Institutions favor asset quality as Arc moves from testnet to mainnet.
Raydium (RAY), a decentralized exchange on the Solana (SOL) blockchain, said Wednesday that it had suffered a $1.34 million exploit tied to its retired automated market maker, or AMM, V3 program. Raydium Pools Drained The protocol said the attacker removed about 150,000 RAY, 5,600 SOL, and nearly 900,000 of Circle’s USDC stablecoin from Raydium pools involving RAY-SOL, USDC-RAY, and SRM-RAY. Raydium attributed the compromise to a weakness in how the older AMM V3 handled liquidity provider (LP) mints. The platform said the vulnerability “stemmed from insufficient validation of the LP mints, which in practice allowed the attacker to bypass intended proportion checks. Related Reading: Prediction Markets’ Wild West Days May Be Over: CFTC Drafts Its First Major Framework According to the description of the mechanism, because the legacy AMM V3 program did not properly verify the LP mint address, an attacker was able to create a new mint and use it as the LP token, letting it evade the chec
Solflare Packs could boost USDC transactions on Solana but may face regulatory scrutiny and trust issues due to its gacha model and centralized elements.
The post Solflare launches Solflare Packs, bringing graded card trading directly into your crypto wallet appeared first on Crypto Briefing.
Polychain-backed Botanix Labs is winding down its Spiderchain Bitcoin Layer 2 after a year of mainnet operation, citing insufficient demand for Bitcoin-native DeFi. Users have until July 9 to withdraw assets.
Circle's expansion in the Philippines highlights stablecoins' growing role in global remittances, potentially reshaping financial ecosystems.
The post Circle expands USDC-powered payouts in the Philippines through its payments network appeared first on Crypto Briefing.
WalletConnect Pay's Solana integration enhances multi-chain payment flexibility, potentially boosting crypto adoption by simplifying merchant transactions.
The post WalletConnect Pay adds Solana support for instant payments with SOL, USDC, and USDT appeared first on Crypto Briefing.
The integration of real-world payment infrastructure with DeFi lending enhances liquidity options, but it also introduces new risk management challenges.
The post Morpho enables USDC borrowing for Huma Finance’s PST holders through RockawayX vault appeared first on Crypto Briefing.
Botanix Labs has announced the shutdown of its Bitcoin Layer 2 network after reporting 25 million transactions and 200,000 wallets during its year-long mainnet operation. The team said user demand was not sufficient to sustain the network economically. In a…
Masspay has expanded its integration with Circle’s Managed Payments service to allow businesses to facilitate stablecoin payouts and treasury operations without the complexity of direct digital asset management. Abstracting Blockchain Complexity Global payouts platform Masspay has expanded its integration with Circle Payments Network’s Managed Payments service, enabling businesses to fund and make payments using stablecoins […]
