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  • 11/13/23: Aave is Back 👻🦄🪙

11/13/23: Aave is Back 👻🦄🪙

Author

Valko
November 13, 2023

Top News

  • 👻 Aave lending markets resume operations after security scare

  • 🦄 Uniswap passes $1M in cumulative front-end fees in the first month

  • 🪙 Grayscale discount shrinks amid hope for spot Bitcoin ETF

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Aave lending markets resume normal operations after security scare

Aave v3 markets have returned to normal operations after they were paused due to a security vulnerability.

⌐◪-◪ → Aave has unpaused Aave V2 and V3 markets after a security vulnerability was discovered on November 4th. The DAO has witheld specifics about the vulnerability, probably to protect all the 3rd party protocols that have forked Aave. Overall, I’d say Aave DAO showed good crisis management - with notable downtime, but no funds lost.

Uniswap's cumulative front-end fees exceed $1 million within a month

Uniswap Labs introduced a 0.15% fee in mid-October that applies to web interface and wallet app transactions.

⌐◪-◪ → Last month, Uniswap added a small 0.15% to their front-end. A lot of people were upset about this, but it looks like people pay for convenience - as Uniswaps front-end has generated over $1M in fees in under 1-month’s time. I maintain that this was a smart decision by Uniswap, and the simplest and most elegant way to make their front-end sustainable long-term.

Grayscale Bitcoin Trust Discount Shrinks as ETF Optimism Mounts - Decrypt

The GBTC discount has reached its lowest level since July 2021, as the crypto market is buoyed by the prospect of a spot Bitcoin ETF approval

⌐◪-◪ → Due to the tremendous optimism around a potential spot BTC ETF approval, the Grayscale Bitcoin Trust’s discount has narrowed to 10.35%, a huge imporvement from what once was a 48% discount in December 2022. While there’s surely money to be made timing the GBTC discount, I’m not touching it with a stick. Better to own BTC directly.

Peripheral Vision

⛓️ Crypto & DeFi

  • Bitcoin mining revenue hits new for 2023

  • THORChain becomes 3rd largest DEX after Uniswap & PancakeSwap

  • FTX General counsel who testified against SBF to lead new exchange

  • Ondo unveils bridge to move treasuries backed stable across chains

  • Aave launches decentralized social graph Lens V2 on Polygon

  • Researchers believe “Efficient Market” strategy beats HODLing

  • IOV Labs commits another $2.5M to the Rootstock Grants Program

  • CryptoSlam announces Slam AI, “Chat GPT for blockchain data”

  • Major token unlocks this week: $APT, $AVAX, $HFT, $OP, and $APE

🏦 Wallstreet & VC

  • Ark Invest & 21Shares debut managed BTC and ETH futures fund

  • JPMorgan report states Bitcoin ETF is unlikely to introduce new capital

  • Grayscale CEO on spot BTC ETF, “We’re ready for the main event”

  • Foresight Ventures acquires The Block, with ties to SBF loan

🏛️ Legal & Regulatory

  • Genesis settles $1B in claims by 3AC with £33M payment

  • IRS “Raided” by crypto investors as the industry puts up a fight

💀 REKT

  • Raft stablecoin depegged by 50% after $3.3M exploit

  • Fake Skype app used in crypto phishing attack

  • Coin Cloud, a Bitcoin ATM firm, allegedly compromised by hackers

  • ZachXBT says a wallet with links to Binance got hacked for $27M

🌎 Rest of the World

  • Singapore courts order Holdnaut to liquidate after $190M in losses

  • Bithumb, a Korean exchange, is preparing for an IPO in 2025

  • Bitget’s Hong Kong unit halts operations and plans withdrawal

🖼️ NFTs & Metaverse

  • Calladita, 1st NFT funded film, makes debut at Tallin Film Festival

  • Animoca Brands partners with Chiliz in bid to boost SportFi

  • CryptoPunks rally to 59.6 ETH ($120k) floor after 500 ETH sweep

  • Pixelmon partners with Horizen Labs Venture

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