Flash News

TREE NEWS update: Term Labs announced that all fixed-rate lending positions have been restored, with the final recovery operation completed on August 25 at 14:52 UTC. The impact was limited to liquid assets in Term Vaults; Term V1 and V2 contracts were not attacked, and direct lending markets remain operational. The attacker funded wallets via Tornado Cash and exploited governance delays to drain ETH and USDC from strategies.

TREE NEWS reports: A two-person arbitrage team revealed they earned $10 million in profit over 10 months by trading stock perpetuals on Hyperliquid’s HIP-3 against IBKR, with $32 billion in combined volume. The strategy, detailed in a post, weathered a $1.1 million loss from a data glitch. They now face competition from institutions like Ethena.

TREE NEWS update: Solana completed its first binding on-chain governance vote on Aug 27-28, passing SGP-0001 (Constitution) and SGP-0002 (double deflation) but rejecting SGP-0003, a fee reform to increase SOL burns. The deflation proposal passed narrowly at 67% support, while the burn proposal failed due to high abstention. The vote marked a shift to stake-weighted voting under the new SGP framework.

TREE NEWS update: Colombian fintech Plenti has raised $3 million in seed funding, led by Tether with participation from Verda Ventures. The funds will support its expansion into Peru and Bolivia. Founded in 2022, Plenti offers multi-currency accounts for freelancers and remote workers, enabling them to hold dollars, euros, and pesos, earn yield, and invest in US stocks, ETFs, digital gold, and crypto. It serves over 150,000 active users, processing over $3.1 billion annually and handling over 680 million USDT since 2023.

TREE NEWS update: Jupiter announced the launch of Universal Deposit, a cross-chain deposit feature enabling users to send tokens from any supported chain and receive USDC directly in their Solana wallet. The feature automatically handles routing, bridging, and swapping, supporting Ethereum, Base, Arbitrum, and Sui, with a flat fee of $0.30.

TREE NEWS reports: ArbitrumDAO reported $6.19 million in revenue for the first half of 2024, with Robinhood Chain contributing 35% of July’s revenue. The report highlights the growing influence of institutional adoption on Arbitrum’s ecosystem.

TREE NEWS reports: ArbitrumDAO generated $6.19 million in income during the first half of the year. In July, license fees from the Arbitrum Expansion Program, totaling $360,000, accounted for 35% of the DAO’s monthly income. That month marked the first full month Robinhood Chain operated on mainnet.

TREE NEWS update: Laser Digital, Nomura’s digital assets arm, will act as risk governor for lending markets built with Keyring Network, with the first markets readied for Euler Finance. The companies did not disclose committed capital, fee terms, or a launch date.

TREE NEWS update: Full Sail, a DeFi protocol on Sui, is shutting down after an attacker drained about $91,000 from three vaults in a security incident linked to oracle provider Switchboard. The protocol decided to cease operations following the exploit.

TREE NEWS reports: As Robinhood Chain’s meme coin ecosystem heats up, liquidity providers are earning outsized returns by pairing stock tokens with meme coins. KOL @0xanonnnn reports daily APY exceeding 100,000% on Uniswap V4 high-fee pools. Beyond Uniswap’s dominance, new AMMs like up., Fables, Ramses, Delta, and Ekubo are emerging, offering early incentives such as token airdrops. up. distributes 100% of protocol revenue to token holders, while Fables plans a TGE in October.

TREE NEWS reports: AEGIS X (XDAO) has officially launched its mainnet, with a global genesis phase reaching a total build scale of $31,656,800. This marks a significant step for the project’s decentralized autonomous organization infrastructure.

TREE NEWS update: Félix, a WhatsApp-based remittance service, has raised $200 million in a funding round led by Andreessen Horowitz (a16z). The company settles most transfers in USDC without customers touching crypto and plans to expand into lending and savings on the same stablecoin infrastructure.

TREE NEWS update: Tron’s USDT supply increased by $4 billion over the past month to reach $94.27 billion, overtaking Ethereum’s USDT supply. This shift highlights Tron’s growing dominance in stablecoin transfers.

TREE NEWS reports: Data suggests that if Ethereum (ETH) surpasses $2,486, cumulative short liquidation intensity on major centralized exchanges could reach $1.329 billion. This indicates a potential for significant short squeezes and increased volatility in the crypto market.

TREE NEWS reports: fomo’s daily active traders surged from under 10,000 in early June to over 100,000 by late August, a tenfold increase, as Robinhood Chain trading gained momentum. On August 31, Robinhood Chain accounted for about 75% of fomo’s daily volume, with Solana at 20%. The platform also reported over 1.9 million total users and predicted August trading volume above $2.8 billion.

TREE NEWS reports: Robinhood Chain’s soaring gas fees and trading taxes are eroding profits for meme coin traders, with data showing ~60% of sellers losing money. The article suggests that providing liquidity in high-quality pools may offer better risk-adjusted returns than PvP trading in this high-fee environment.

TREE NEWS update: Uniswap recorded over 7 million transactions on a single day, setting a new all-time high. This milestone underscores the growing adoption of decentralized exchanges and the broader DeFi ecosystem.