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Uniswap-backed fund defends recent UNI token sale

Earlier this week, CryptoSlate reported on concerning feedback as $10 million in Uniswap (UNI) tokens got sold shortly after the team behind the Decentralized Finance (DeFi) Education Fund (DEF), supported by the leading decentralized exchange (DEX), earned approval for a $20 million grant. The organization defended its position in the recent surprise sale of 500,000 UNI tokens in a blog post. Response to the backlash  After receiving...

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ChainSwap saga: Platform hit again; MATTER, ROOM, others tank; compensation plan announced

On Saturday, a hacker attacked the cross-chain decentralized finance (DeFi) platform ChainSwap (ASAP), exploiting a critical vulnerability in its smart contract. Roughly nine days after its latest exploit, which resulted in losses of around $800,000, the project got drained for a significantly larger sum as more than 10 tokens have been impacted. ChainSwap hacker  Many projects partnered with the cross-chain platform to bridge tokens...

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Axie infinity is the top earning DeFi dApp. But what is it?

A non-custodial game and marketplace, Axie Infinity (AXS), built on Ethereum (ETH) and adjacent blockchains launched back in 2018 and has recorded as much as $22.9 million in protocol revenue in the past 30 days, according to data analytics site Token Terminal. Protocol’s boosted revenue surpassed digits reached by the competitors, such as PancakeSwap with $13,6 million and MakerDAO with $7,6 million and came accompanied by its...

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Cardano (ADA) partners with crypto lending player Nexo

Global blockchain engineering company and the developer team behind the Cardano (ADA) blockchain, Input Output Hong Kong (IOHK), partnered up with a cryptocurrency lending platform Nexo. IOHK keeps announcing strategic partnerships as the crucial Alonzo upgrade that introduces the smart contract functionality to the Cardano blockchain runs its course. Symbiotic relationship Following Cardano’s latest strategic partnerships, the new...

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Ethereum token ‘WhaleFarm’ drops 99% in latest DeFi scam. Team steals $2 million

Decentralized finance (DeFi) project WhaleFarm joins the fast-growing list of exit scams,  hijacking millions as its native token’s value plummeted by almost 100% in minutes. Recently, the project’s anonymous developers launched yield farming, a staking opportunity for investors to lock up their crypto in return for high rewards. Fast exit The project witnessed growth as its native coin WhaleFarm Token surged in value, trading for...