Coinbase-backed Indian crypto exchange Vauld suspends ... - cyptoranking.com

2024-05-08

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The price of Ethereum has risen nearly 648% in the past three years, which is more than double the 250% gains in Bitcoin during the same period. However, Ripple’s monthly token unlocks create extra selling pressure on XRP holders, which requires a constantly increased demand to overcome the inflating supply. This directly affects XRP’s ability to reward its investors in the long run, as previously reported by Finbold regarding the digital asset price projection in case XRP reaches its all-time high market cap. Coinbase-backed Indian crypto exchange Vauld suspends ...1/ It’s official. #ItsStillStableSeptember and $USDC is now available natively on @0xPolygon PoS mainnet!Learn the benefits of native USDC and how to switch from bridged USDC.e https://t.co/KcK55sT4KH pic.twitter.com/Gm6HjR62KW Has Base Network’s TVL Really Increased by 25%?

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General Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.On-chain Analyst Identifies 8.6% APY Whale ETH/stETH Arbitrage Strategy — Laura Shin (@laurashin) October 9, 2023 Best Crypto Futures Trading Platforms (2023)Source: Sam Cooling x XreschAbracadabra Finance has put forth a proposal aimed to adjust interest rates to mitigate the risk of bad debt resulting from an $18 million loan to Curve Finance founder Michael Egarov. The proposal suggests hiking interest rates on the loan to 200% on two specific pools known as "cauldrons," which consist of CRV tokens belonging to Michael Egarov. The current interest rate on Egarov's $18 million loan is 18%, but the proposed protocol aims to raise it to a whopping 200%, effectively squeezing Egarov out of his position. By doing so, Abracadabra hopes to limit its exposure to CRV tokens to only $5 million.The proposed interest rate hike is not a sudden increase in rates, but rather a gradual decrease that starts at 200% and decreases as the loan is repaid through the automatic sale of CRV tokens. Developers anticipate that this strategy will result in the loan being fully repaid within six months, with all proceeds going to the Abracabadra treasury. "The effect of collateral-based interest is such that all interest will be charged directly on the cauldron’s collateral and will immediately move into the protocol’s treasury to increase the reserve factor of the DAO," the proposal reads."We believe this solution will reduce negative externalities associated with such positions compared to a simple interest rate hike"Big Whale Opposes Abracadabra Finance's Proposal It is worth noting that the proposal initially gained substantial support from the Abracadabra community.As of Wednesday at 13:00 UTC, a majority 99% of votes were cast in favor of the prposal. However, the poll has since changed course after a big whale voted against the plan. Earlier today, whale masterofdisaster.eth cast 10 billion SPELL tokens against the proposal.As of now, a majority 72% of votes are against the proposal, with another 27% supporting the change.Abracadabra community member known as "0xthespaniard" had previously voiced concerns about the risks associated with such a large loan.In a June post, the user acknowledged that the 18% interest rate contributes significantly to the protocol's profitability, but also highlighted the platform's asymmetric downside risk. At the time, they said that a liquidation event could prove fatal for the Abracadabra protocol due to the anticipated price impact on Curve's decentralized exchange.As reported, Curve Finance, a major player in the stablecoin swapping landscape, recently experienced a security incident that led to the loss of more than $100 million worth of crypto assets. The exploit also resulted in a decline in the price of CRV tokens, putting a $168 million holding belonging to founder Michael Egorov at risk of being liquidated. Crypto Billionaire Arthur Hayes' Vision: AI DAOs to Become Invincible, Driving DeFi's Supremacy over TradFi Some users shared that the attackers tried to drain users’ funds after they connected their MetaMask wallet.

For instance, a smart contract is usually described as a self-executing contract, and the terms of the agreement between buyer and seller are usually written into the codes. So the contract is not executed by any person, but, in fact, the code written in the contract decides on the execution. Moreover, the smart contract also ensures that the transactions are trackable and that it will be almost impossible to reverse them. Each blockchain in the Ethereum Network has a specific type of consensus algorithm. The network uses these algorithms to match only valid data values. Best Crypto Exchanges of 2023 | Begin Your Crypto PortfolioILV powers the blockchain-based game on the Immutable X blockchain, allowing players to engage in a captivating RPG experience. This information asymmetry scenario is termed “adverse selection.” Alexander Nezlobin, professor of Accounting at the London School of Economics describes LVR as “yet another transaction cost that is imposed on LPs.”

An image circulated by the Polícia Civil de Santa Catarina showing the law enforcement agencies and government organs involved in Operation Blockchain. (Source: Polícia Civil de Santa Catarina) The latest functionality to join the DePIN stack will be confidential computing, allowing developers to compute encrypted data. This new framework is written in Rust. How do I cash out Dogecoin on Coinbase?Despite significant general growth in crypto product inflows, some major crypto investment products have been seeing more muted movements. The United States Ethereum futures exchange-traded funds (ETFs) — which debuted trading on Oct. 2 — attracted only around $10 million in the first week, highlighting “tepid appetite,” CoinShares reiterated. The program will target to deploy 20 million Swiss Francs (around $22.1 million) and 5 million DOT tokens currently valued at around $18.8 million throughout 2024.

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