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On April 12, the day before the exploit, 27% of the total USDT pool was loaned out, but at press time the amount of USDT borrowed on Aave’s v1 protocol now stands at $0.00. Roughly $1.31 million USDT is available for liquidity, according to the website for Aave’s v1 USDT
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Blockchain security firm PeckShield recently detected a hack that allowed the exploiter to mint over 1 quadrillion Yearn Tether (yUSDT) from $10,000 in the latest decentralized finance (DeFi) hack. According to the security firm, the hacker then swapped the yUSDT to other stablecoins, allowing them to take hold of $11.6 million
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YFI has managed to fend off bearish market forces with a 7% move to the upside as investors attempt to capitalize on the upcoming roll out of liquid staking derivatives (LSD). Original Source
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The product is designed to offer users exposure to a basket of liquid staking derivatives in one token. Source
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In the hopes of generating yield while offering users what its best known for, MakerDAO, the issuer of the Ethereum-based stablecoin, DAI, has approved a proposal to deploy $100 million of Circle’s USD Coin (USDC) in a Yearn Finance yield-generating account called a “vault.” The proposal, submitted on January 9, aims
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The move may also boost Yearn’s dwindling user activity. The protocol’s total value locked, a popular indicator to show the worth of assets deployed on a DeFi protocol, has dropped to $442 million from an all-time high of $6.9 billion in December 2021, according to data from DefiLlama. Source
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As of Tuesday, users can initially make vaults only for the liquidity tokens of Curve Finance, a stablecoin swapping application. These vaults will use veCRV, a time-locked token issued by Curve, which allows users to effectively boost their yield rewards. Source
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Developers of the DeFi protocols said that layer 2 networks offer improved security and capital efficiency for users. Original Source
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Yearn Finance, a vault-based, decentralized yield aggregation platform, has become the first major protocol to publicly support the adoption of ERC-4626, providing a level of legitimacy and encouragement for others in the space to start exploring the usage of ERC-4626. Source
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