Today marks another eventful day in the world of DeFi. Here are some of the latest updates and news from the industry:
UnshETH Private Key Leak
Reports indicate that one of the unshETH deployer’s private keys was compromised, resulting in the loss of some USH farm rewards and protocol liquidity. However, user-deposited funds were not affected and remain safe. To address the situation, the team paused withdrawals on unshETH Ether and is currently negotiating with the hackers for a return of the lost funds, which are estimated to be worth 375k.
EU MiCA Signed
The European Parliament has officially signed the MiCA law, which aims to regulate the crypto assets and service providers within the European Union. The law will be published, and 20 days after that, it will enter into force, followed by the entry into application 12 months and 18 months later. MiCA is expected to address issues related to digital assets, such as investor protection and market integrity, among others.
Perps Trading on Polygon zkEVM
Polygon has announced that Perpetual Protocol’s Perps trading is now live on their zkEVM (Zero-Knowledge Ethereum Virtual Machine) network. The integration of Perps on Polygon’s ecosystem enables faster trade confirmation time and lower gas fees, a significant benefit for traders and market participants.
Abracadabra Integrates LayerZero
Abracadabra, a decentralized lending platform that uses TOKEN as collateral, has integrated LayerZero and implemented the Omnichain Fungible Token (OFT) standard to its stablecoin MIM. MIM is now an omnistable that can natively integrate into projects currently building on top of LayerZero, expanding its reach and usability.
Router Protocol Alpha Testnet Launched
Router Protocol, a Cosmos-based L1 for Interoperable dApps (iDapps), launches its alpha testnet, aimed at testing their cross-chain composability and interoperability features. Router plans to launch an incentivized public testnet in June and onboard more developers, validators, and testers into their ecosystem.
Multichain’s Founder Missing
Reports indicate that the Multichain team has lost contact with one of its co-founders and can no longer access servers for maintenance, causing several chains to stop calling Multichain’s smart contracts. The situation has caused concerns in the crypto community, highlighting the importance of having proper security measures and contingency plans in place.
In conclusion, the DeFi industry continues to grow at a rapid pace, with new technologies and innovations emerging daily. However, security remains an ongoing concern, highlighting the need for the industry to take proactive steps to protect investors and project participants.
