Following a $293 million exploit on the LayerZero cross-chain bridge used by KelpDAO, protocols holding $2 billion in total value locked (TVL) have migrated from LayerZero to Chainlink CCIP due to security concerns. The hack exposed vulnerabilities including a compromised RPC node and a critical misconfiguration, prompting major protocols like KelpDAO, SolvProtocol, and Re to leave. Despite the exodus, some key assets such as USDe by Ethena and WBTC continue to use LayerZero, providing some stability. Meanwhile, Chainlink CCIP has gained credibility and market share, with cross-chain token value exceeding $61 billion and transaction volume hitting $19.4 billion, signaling growing trust in its security and infrastructure.
Aave has deployed its V4 lending platform on the Avalanche blockchain, marking its first expansion beyond Ethereum. This upgrade introduces a Hub & Spoke framework allowing decentralized liquidity sharing with independent risk management, aimed at su...
Aave DAO has proposed an innovative mobile app that integrates fiat currency deposits, self-custody, and decentralized finance (DeFi) lending in one platform. This app allows users to convert fiat to stablecoins and earn yields without needing extern...
Monad has increased its weekly incentives to $75,000 to support liquidity for Agora's AUSD stablecoin on its blockchain. AUSD is a US dollar-backed stablecoin managed by VanEck, with reserves in cash and US Treasury bills. This move follows Monad's r...
Aave has deployed its V4 lending protocol on Avalanche, marking its first expansion outside Ethereum. This launch focuses on institutional lending backed by tokenized real-world assets, using a new Hub and Spoke architecture to enable specialized cre...
Aave V4 has launched on Avalanche, marking its first expansion beyond Ethereum and introducing specialized lending markets for tokenized real-world assets like US Treasuries and corporate bonds. This new Hub-and-Spoke architecture allows institutions...
