Yield platform Stablegains sued for promoting UST: Finance Redefined

Mar 15, 2023 | wjb news

Welcome to Financial Refined, your weekly insight into the most basic decentralized accounting (Defi)-a newsletter that provides you with key trends over the past week.

The rebound caused by the Terra explosion still haunts the password world, and the cancelled stable income service platform Sablegain sues for customer damage. The appellant alleges that the site introduced customer assets into Anchor Protocol without the user's knowledge or consent.

The platypus, which has been used for more than $8 million in the Defi agreement, is already developing a compensation plan to get some of the money back.

Cogent Financial Institution of California recommended a loan of $100m to MakerDAO's RWA Master Participation Trust.

The top priority of the Bridge Agreement's attack last year was the cumulative use of stolen assets worth hundreds of millions of dollars. Unreliable bridges can alleviate this problem and complete cross-chain transmission without the need for intensive fund custodians, which may make it a high selection of safety factors for interoperability.

After nearly four weeks of big bull market, defi market gradually launched a brave war with short orders. Prices fell slightly and the industry as a whole fell slightly, as bulls dominated at the end of the week.

Year Platform Stable Gans sued for planning the UST campaign as an investment in a "security" project

Sablegain, a profit-making service platform for Defi, has been sued by a California people's court for fraud of investors and failure to comply with securities laws.

On February 18th, appellants Alec and Artin Ohanian filed a lawsuit with the Regional people's Court in Seattle, USA, accusing the cancelled Defi agency of transferring all its customer assets to the Anchor agreement without their knowledge or consent. The oriented protocol gives a yield of up to 20% in Terraform Labs's algorithmic stability, Terra yield. (UST).

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The platypus will make a compensation plan after the $8.5 million siege.

According to an autopsy report by Omniscia, a certified public accountant at Platypus, the $8.5 million Platypus flash chip loan attack is likely because of the incorrect coding order. The Defi company is working on a plan to pay users' losses after a lightning loan attack cost the agreement nearly $8.5 million, seriously affecting its smooth dollar peg.

In a tweet on Feb. 18, Platypus said it had a liability plan and asked users not to be aware of the damage caused by these people in the agreement, saying it would make it difficult for companies to manage the situation. According to the agreement, the liquidation of assets was suspended again.

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MakerDAO votes to participate in a $100m loan from Florida banks

Access to the password borrowing platform MakerDAO has voted on a new proposal to include another banking company in its ecosystem and enhance the link between Defi and traditional finance.

According to the MakerDAO Governance Community Forum, Cogent Bank, a bank based in California, recommended a loan of $100m to MakerDAO's RWA Master Participation Trust.

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Defi Security: you can't trust how bridges help maintain users

The blockchain technology bridge allows Defi users to apply the same OTP across several blockchain technologies. For example, traders can also use dollar coins (USDC) on ethernet or Solana blockchain to interact with these Internet decentralized uses.

Because these protocols may be more convenient for Defi users, they face the risk of being used by hackers and attackers. In the past year, for example, jumping Bug Bridge-the most popular cross-chain landing password bridge among Solana, Ethernet Square, landslides and other companies-has been hacked, with cyber attacks stealing more than $321 million worth of Weth, the largest hacking in Defi's history at the time.

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Brief introduction of DEFI sales Market

Dissecting data show that the total market capitalization of Defi has fallen below $50 billion in the past week. Defi's top 100 tokens by market capitalization have been mixed this week, with most tokens traded in green and a few in red, according to Cointelegraph Markets Pro and TradingView statistics.

We'll see you next week for a summary of the most influential Defi trends this week. Join us next Friday to get more short stories and opinion education in such a dynamic development space.