Unibot, a decentralized finance (DeFi) protocol, recently experienced an unfortunate token approval exploit that resulted in the transfer of approximately 450 ETH. The exploit involved the hacker taking meme coins from users and exchanging them for ETH. As a result, the Unibot team has halted the protocol to address the issue and prevent further exploitation.
In other news, Snowtrace, the Avalanche chain explorer powered by Etherscan, has announced that it will cease operations on November 30th. This decision stems from the high service costs associated with running the explorer. However, users need not worry as a new explorer run by Avascan will soon launch to replace Snowtrace.
On the topic of staking, the Arbitrum DAO is currently conducting a vote to activate staking for its users. This new feature would allow individuals to lock their ARB, the native token of the Arbitrum network, for a period of up to 365 days. However, it’s important to note that users who choose to exit their lock before the expiration date will be subject to a penalty. The penalty amount will range from 0% to 60% depending on the remaining time left in the lock.
In the world of lending and borrowing, Aave DAO has proposed an increase in the GHO Borrow Rate, which refers to the interest rate charged on borrowed funds, from 3% to 4.32%. The aim of this proposal is to align Aave’s rates with MakerDAO’s latest proposed DAI Savings Rate (DSR), ensuring a fair and competitive lending environment.
Furthermore, Sushi DAO has put forth a governance overhaul proposal. If implemented, this change would revert to the previous model where 100% of fees generated by the protocol would be distributed to SUSHI stakers. This proposal aims to realign incentives and reward those who actively participate in the SushiSwap ecosystem.
Finally, Perennial, a decentralized exchange (DEX), has launched a new feature called Trigger Orders. This feature enables traders to set limit orders, stop-loss orders (SLs), and take-profit orders (TPs) to manage their trades more effectively. The introduction of Trigger Orders is expected to enhance the trading experience and provide more flexibility for users.
It’s important to stay informed about the latest developments and advancements within the DeFi space. However, it’s equally essential to recognize and credit the original author when using information from their work.