🚀 CoinGecko (#1) Weekly Crypto News Round-Up!

By CoinGecko | CoinGecko Publish0x Blog | 19 Sep 2020

Welcome Publish0x, to our first weekly crypto news round-up where we will keep you up to date this week’s the top stories in DeFi. 

Buckle up, and get ready for a quick ride!

Flawed Code Costs bZx Protocol $8 Million Dollars

bZx Protocol (BZRX), a DeFi lending protocol lost about $8 million dollars last night due to a smart contract bug.

The bug allowed attackers to multiply their assets and also increase their balance of interest-bearing tokens on the platform.

The attack has drastically reduced the total value locked (TVL) in bZx from $21 million to approximately $6.3 million.


bZx Recovers $8 Million in Funds

bZx Protocol (BZRX) has managed to identify the person who managed to steal $8 million dollars from the project due to an exploit.

They were able to track down the attacker using their on-chain activity.

After being revealed, the perpetrator returned the funds.


Yam Finance Preps for v3 Launch

Yam Finance v3 is slated to be released on September 18.

Liquidity incentives will go live for the YAM/yUSD pairing on September 19, with the first rebase set to occur two days later. 

The DeFi protocol has been audited by Peckshield, a blockchain security firm.

Previously, Yam Finance came to a premature end due to a smart contract bug, the developers then created an interim Yam Finance v2 (YAMV2) as the final and fixed v3 code go through auditing.


Uniswap Launches Governance Token

Uniswap has launched their own governance token (UNI), with 1 billion tokens already minted and ready to be delivered to the community over four years. 

60% of the token supply would be allocated to Uniswap community members

Subsequently, Uniswap is slated to launch their liquidity mining program on September 18.


That's it for our weekly round-up! Want more? Subscribe to our Newsletter for daily insights on the latest happenings in the crypto space. 😉

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