Tag: Curve

Curve emergency DAO terminates rewards for hack-related pools

coiner

The Curve Finance lending protocol has terminated governance token rewards for select liquidity pools affected by the July 30 Curve exploit and July 6 Multichain exploit, according to an Aug. 2 social media post from a member of the protocol’s governing body.  The ending of rewards was carried out by the Curve emergency decentralized autonomous organization (Curve E-DAO), a committee made up of select members of the Curve DAO governing body. It affected pools for alETH+ETH, msETH-ETH, pETH-ETH, crvCRVETH, Arbitrum Tricrypto and multibtc3CRV, according to the announcement. The decision can…

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Curve liquidation risk poses systemic threat to DeFi even as founder scurries to repay loans

coiner

On July 30, Curve Finance, a decentralized exchange on Ethereum, suffered a hack due to a vulnerability in certain pools built using the Vyper programming language. The price of Curve DAO (CRV) dropped 20.91% on the day of the hack, falling to a two-month low of $0.58. The next day, the decline in CRV continued to a seven-month low of $0.48 amid fears of liquidation of hefty loans worth $100 million taken by Curve Finance founder Michael Egorov against CRV as collateral. However, positive developments such as partial repayment of…

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The Secrets Of The S Curve: Why Bitcoin Adoption Takes Longer Than You Think

coiner

This is an opinion editorial by Bitcoin Graffiti, a software developer and graffiti artist. In 1714, the British Parliament introduced the Longitude Act, a law rewarding a £20,000 bounty (more than $1 million in today’s money) to anyone who could accurately determine longitude at sea. Captains had been struggling with poor navigation since the onset of global trade. Though sailors could easily measure latitude by gauging the sun’s height, longitude was very hard to determine and inapt techniques veered vessels of course. Without visual bearings, humans were sailing blind on…

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