Category: DeFi Digest
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Galxe Launches Starboard to Reward Active Users
Galxe launches Starboard, a platform to reward active Web3 users with on-chain and off-chain analytics. Over 20 projects joined, contributing $5M to a shared rewards pool.
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Starknet Launches USDC-Backed Asset Runes with Trustless Liquidity Pools, XverseApp Integration, and STRK, ETH Access – “The Defiant”
Starknet launches Asset Runes, Bitcoin-native assets backed 1:1 by USDC, with plans for STRK, ETH, NFTs, and RWAs. These enable Bitcoin users to access Ethereum assets via Starknet, featuring trustless liquidity pools and XverseApp integration.
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Cork Protocol hacked for $12M, smart contracts paused
Cork Protocol suffered a $12M hack via a smart contract exploit, prompting contract pauses. This follows Cetus DEX’s $223M hack, highlighting ongoing DeFi security challenges and the need for improved measures.
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Polygon-backed, high-yield blockchain launches for institutional adoption
Katana Foundation launched a private mainnet with Polygon and GSR support, targeting DeFi liquidity issues and higher yields, with a public mainnet coming in June.
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WLFI USD1 Restaking Launch with Kernel DAO Offers Dual Yield
WLFI partners with Kernel DAO to enable USD1 stablecoin restaking, offering dual rewards through passive income and decentralized security participation, enhancing stablecoin utility in DeFi.
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Cork Protocol Exploited for 3,762 wstETH ($12M), Converted to 4,530 ETH; Security Firms Detect Breach – “The Defiant”
Cork Protocol suffered a $12M exploit, losing 3,762 wstETH due to a vulnerability in its exchange rate computation. The stolen assets were converted to 4,530 ETH. Security firms detected the breach.
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Just-In: Cetus Hack Victims on SUI Set for $162M Reimbursement; Cetus Price Jumps 32%
Cetus hack victims on SUI blockchain are set for a $162M reimbursement after 54% community approval. A $60M SUI loan and frozen assets will aid recovery, causing Cetus price to surge 32%.
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Cetus exploit: Sui Foundation’s plans for a ‘100% recovery’ entails…
Sui Foundation provides a loan to Cetus for full user reimbursement after a $223M hack. A community vote will decide on recovering frozen assets, while Sui announces a $10M security initiative.
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Sui validators vote on $162M Cetus recovery plan to restore user funds
Sui validators are voting on a $162M recovery plan for Cetus to restore user funds after a $220M exploit, with $162M already frozen and awaiting community approval by June 3.
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Cetus to Fully Compensate Users After $223M Hack, Backed by Sui Foundation
Cetus Protocol pledges full compensation for users after a $223M hack, supported by Sui Foundation. A community vote will decide on unlocking frozen funds to aid recovery efforts.
