ROLLUP: 5th Week of December
Bankless
Exploring the Cover Protocol Hack and Its Implications
This chapter analyzes a significant hack of the DeFi insurance protocol Cover, where an inflation bug enabled the attacker to mint excessive tokens and drain over 4,350 ETH. It also explores the technical details of the hack, community reactions, and the attacker's mockery of the protocol's vulnerabilities.
🚀 SUBSCRIBE TO NEWSLETTER: http://bankless.substack.com/ ✊ STARTING GUIDE BANKLESS: https://bit.ly/37Q17uI❤️ JOIN PRIVATE DISCORD: https://bit.ly/2UVI10O🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ 👕 BUY BANKLESS TEE: https://merch.banklesshq.com/
-----
GO BANKLESS WITH THESE SPONSOR TOOLS:
⭐️LEDGER - BEST HARDWARE WALLET TO SECURE YOUR CRYPTOhttps://bankless.cc/ledger
🚀 ZERION - INVEST IN DEFI FROM ONE PLACEhttps://bankless.cc/zerion
💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDShttps://bankless.cc/monolith 🤖YEARN - YIELD-SEEKING MONEY ROBOT THAT FARMS DEFI FOR YOU http://bankless.cc/yearn
------
ROLLUP: 5th Week of December
MARKET
BTC Price- Almost 29k!
ETH Price- Just hit 750!- 50% away from ATH price
Blow off tops coming??We are very far away from the 20 week MA!
TVL in DeFi- Up from 14B to 14.4B
DPI - Up from $108 to $117
2.2M ETH in ETH 2, $1.65B
Futures value Coinbase at $50Bhttps://ftx.com/trade/CBSE/USD
____
RELEASES
1INCH token releasedhttps://1inch-exchange.medium.com/1inch-token-is-released-e69ad69cf3ee
Haseeb’s take on Stablecoins
DeFi events of the year graphic
https://www.theblockcrypto.com/linked/89271/here-are-some-of-the-biggest-defi-events-in-2020
Opyn V2https://medium.com/opyn/opyn-v2-is-live-11347240b46e
YAM rebasing DISABLED
https://twitter.com/YamFinance/status/1343966274095902720
YAM released Degenerative Finance on UMA
https://medium.com/yam-finance/degenerative-finance-ugas-explained-458bedbc2f17
- YAM acting as a good DAO!
Primitive is Live on Mainnethttps://primitivefinance.medium.com/primitive-is-live-on-mainnet-2261c5b098c5
____
NEWS
New SEC Chairman appointed: Elad Roisman https://u.today/breaking-new-pro-crypto-sec-chairman-appointed “Known as one of the most crypto-friendly SEC commissioners. A vocal supporter!
The fact that Roisman is at the helm of the SEC also significantly boosts the chances of a Bitcoin-tied exchange-traded fund (ETF) being approved in the coming years.
Mnuchin wants onchain KYC for all ETH wallets that have stablecoins in themhttps://twitter.com/jchervinsky/status/1341864829171228676?s=20
Comment window period open on the FinCEN proposal to extend KYC to non-custodial walletshttps://twitter.com/jchervinsky/status/1341847200209530883?s=20
Etoro IPO rumorshttps://cointelegraph.com/news/crypto-friendly-trading-firm-etoro-rumored-to-be-prepping-for-2021-ipo
Coinbase Delists XRPhttps://twitter.com/coinbase/status/1343685626001039360?s=20
Also Binance UShttps://twitter.com/binanceus/status/1344372892205608961?s=21
Also Bittrexhttps://twitter.com/BittrexExchange/status/1344056304617177089
Also trading deskshttps://www.theblockcrypto.com/linked/89083/jump-trading-galaxy-xrp-market-making
____
Cover Protocol Exploit
https://coverprotocol.medium.com/12-28-post-mortem-34c5f9f718d4
https://twitter.com/CoverProtocol/status/1343581331448586245
https://etherscan.io/tx/0xc2fd5094c1e108f83222a86bd46b35fc0da35616385d681964b22003643f982e ____
TAKES
Uniswap means you can't be delisted (sorry XRP)https://twitter.com/RyanSAdams/status/1343740028766347265?s=20
DChttps://twitter.com/iamDCinvestor/status/1344138701757153281?s=20
Can’t delist on Uniswaphttps://twitter.com/RyanSAdams/status/1343740028766347265?s=20
Ethereum is the TAMhttps://twitter.com/panekkkk/status/1343269535919562753?s=20
Ethereum doesn’t marginalizehttps://twitter.com/evabeylin/status/1341793825962958848?s=20
Degens are funding Open Sourcehttps://www.coindesk.com/defi-degens-funding-next-wave-open-source
Ethereum is the last bastion for Yieldhttps://twitter.com/TrustlessState/status/1344378165414617088?s=20 ------Don't stop at the video!
Subscribe to the Bankless newsletter programhttp://bankless.substack.com/
Visit the official Bankless website for resourceshttp://banklesshq.com/
Follow Bankless on Twitterhttps://twitter.com/BanklessHQ
Follow Ryan on Twitterhttps://twitter.com/ryansadams
Follow David on Twitterhttps://twitter.com/TrustlessState
-----
Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time we may add links in this channel to products we use. We may receive commission if you make a purchase through one of these links. We'll always disclose when this is the case
The AI-powered Podcast Player
