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The ride-sharing industry is poised for another paradigm shift with Web3 protocols, allowing new companies and drivers to bid for rides using a matching algorithm, according to the Decentralized Engineering Cooperation (DEC) — the company behind the Solana-based protocol TRIP that enables mobility-based applications.According to DEC, on the TRIP platform,
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According to various reports, the Solana-based trading and lending platform Mango Markets was hacked as a malicious actor was able to siphon $117 million from the protocol. An analysis of the hack published by Certik explains that the attacker manipulated the price of the project’s native token mango (MNGO) which
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The apparent exploit of Mango Markets stemmed from the ability of an attacker to manipulate the value of their posted collateral. Original Source
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Hubble aims to create a Solana-based equivalent of MakerDao: a DeFi protocol with a U.S. dollar denominated stablecoin. Whereas MakerDao is an early Ethereum-based DeFi protocol that allows users to trade its native stablecoin, DAI, Hubble users can borrow and mint USDH, Hubble’s native stablecoin. Original Source
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OptiFi, a Solana-powered DeFi protocol that focuses on derivatives, accidentally closed its mainnet platform in a programming blunder, locking away $661,000 in USDC. Source
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Clockwork, which was formerly known as Cronos, aims to solve the automation dilemma, in which developers must choose between using decentralized apps (dapps), or apps that are automated. Nick Garfield, co-founder of Clockwork, told CryptoX that his company removes the need for a centralized cloud provider such as Amazon Web
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Notifi Network, Bonfida and Only1 are among the 19 projects behind the "Open Chat Alliance" that's pushing for streamlined messaging standards in crypto. Source
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As the dust settles from yesterday’s Solana ecosystem mayhem, data is surfacing that wallet provider Slope is largely responsible for the security exploit that stole crypto from thousands of Solana users.Slope is a Web3 wallet provider for the Solana layer-1 (L1) blockchain. Through the Solana Status Twitter account on Aug.
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A security vulnerability impacting the Solana ecosystem has reportedly seen millions in funds drained across a number of Solana-based wallets.At the time of writing, Solana (SOL) is currently trending on Twitter as countless users are either reporting on the hack as it unfolds, or are reporting to have lost funds
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Solana-based algorithmic stablecoin NIRV has become the latest stablecoin to fail, after dropping 85% from its dollar peg following a hack on adaptive yield protocol Nirvana Finance on Wednesday. The flash loan attack, which also saw Nirvana Finance’s native token ANA drop by 85%, resulted in the loss of $3.49
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