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  • Opyn Hacked for $371K USDC: Exploit Details Revealed

    DeFi risk-management platform Opyn was hacked via a “double-exercise” attack to the tune of roughly $371,000 USDC. Here is an overview of the incident affecting ETH Put contracts. No other contracts are affected. ~371k USDC was lost. We worked with @samczsun to whitehack, securing ~439k USDC. Affected users, please see below. Full post-mortem coming in next few days.https://t.co/ILNutAiqfU
    — opyn (@opyn_) August 4, 2020 In response, the Opyn team drained liquidity of oETH tokens from Uni… … More

  • Nexus Mutual Community Shares Wrapped NXM & MCR Increment Recap

    Nexus Mutual – the discretionary mutual for smart contract covers – has had a major onboarding hurdle removed by its community through an NXM wrapper. Some of our community members have created wNXM. Which is 1 for 1 redeemable against genuine NXM.
    There is now a Balancer pool and wNXM is available via @1inchExchange and @paraswap
    — Nexus Mutual (@NexusMutual) July 17, 2020 Prior to this feature, NXM could only be acquired by undergoing KYC to join the mutual. While this has… … More

  • Nexus Mutual Launches Pooled Staking for NXM Risk Assessment

    Nexus Mutual – the discretionary mutual offering smart contract covers – has released a new staking system for risk assessment. Pooled staking is here! Our new system was built to encourage more staking, give better rewards to stakers, decrease the knowledge barrier and just make it a bit easier for our members to get involved.
    — Nexus Mutual (@NexusMutual) July 2, 2020 For those unfamiliar with Nexus Mutual, the project allows users to purchase smart contract covers to pro… … More

  • Opyn Closes $2.16M Seed Round for DeFi Options Protocol & Opyn V2

    Opyn – a rising options protocol – has just closed a $2.16M seed round lead by Dragonfly Capital. Today, we at @dragonfly_cap are excited to announce our investment in @opyn_’s seed round! So thrilled to be able to work with @AlexisGauba @aparnalocked and @snarkyzk https://t.co/pwlUWSVC2L
    — Tom Schmidt (@tomhschmidt) June 22, 2020 For those unfamiliar, Opyn has been making strong headway with their ETH options, giving users the ability to buy or sell puts and calls on di… … More

  • 詳解 DeFi 保險 3F Mutual 的運作原理

    Third Floor Mutual (3FM) 是運行於區塊鏈的保險協議,旨在提供相對 DeFi 產品的避險機制。首先推出的是對穩定幣協議 MakerDAO 的保險,針對 DSS(Dai Satblecoin System) 潛在的系統性崩潰提供風險對沖。隨著 DeFi (Decentralized Finance,去中心化金融) 的蓬勃發展,鎖定在 DeFi 中的資產價值和交易額也不斷上升。然而,DeFi 近期發生了幾次資安事件,暴露出 DeFi 危險脆弱的一面,也讓人們開始重視避險的需求。效率低落的選擇權式保險目前市面上已有的 DeFi「保險」Opyn,是一個對特定資產「保證收購」的類似選擇權的避險工具。譬如想要對沖持有 ETH 的風險,可以買到一段期間內「用 1 ETH 交換 150 DAI」 的 oToken。或對沖 Compound 放款風險,購買「原價收購 cDAI」 的 oToken。付出一點保險費,意外發生時得到補償。不過這類的保險用了違約交換(default swap)的模型,補償的錢實際上來自提供賣權的對手方足額抵押,必須要市場上有人願意拿錢跟你對賭,才能買得到保… … More

  • Aave Teases New DeFi Collateral & LEND Governance System

    For those who have been keeping an eye on the DeFi Pulse leaderboard, you’ve surely seen the spooky project Aave creeping into the #4 spot – recently passing Uniswap in the past 48 hours. While we’ve covered Aave extensively here on DeFi Rate in the past, we’ll be using this article to shed some light on what makes the sector rising lending protocol unique to money market protocols like Compound. We’ve seen quite a lot of attention on crypto Twitter as of late are … … More

  • Nexus Mutual Proposes Foundation Funding

    Nexus Mutual – the discretionary mutual known for its alternative DeFi insurance products – is proposing a potential revenue stream for the Foundation.
    Nexus Mutual’s Foundation is a Collective Risk Services CIC (CRS) operating as a non-profit which is responsible for employing the core team in addition to paying other operating expenses including website, marketing, audits and more.
    The initial proposal requests that the current 2.5% sell spread on any NXM redemptions (i.e. Mu… … More

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