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News
Layer 2
Polygon’s Zero-Knowledge Rollup Goes Live On Mainnet
Second zkEVM To Launch In Four Days
Polygon has released its Layer 2 blockchain built with zero-knowledge technology, becoming the second company in four days to make a so-called ‘zkEVM’ available to the general public.
Polygon zkEVM remains in beta, and the company stressed that it should be used with caution – a fact that will change in the coming months, according to co-founder Mihailo Bjelic.
“If we can maintain the security of Ethereum, achieve scalability, and do not sacrifice developer and user experience — that’s basically all we need, right?” Polygon co-founder Mihailo Bjelic said in an interview with The Defiant.
Read the full story in The Defiant
Consensus 2023 by CoinDesk is crypto’s largest, longest-running and most influential event exploring all sides of DeFi, blockchain, Web3, the metaverse and beyond. Thousands of investors, entrepreneurs, founders, policymakers and builders will converge on Austin, Texas to take on some of crypto and DeFi’s biggest challenges. Topics covered include crypto’s banking problems, policy and regulation, blockchain innovation and so much more.
Join Consensus 2023 to take part in industry-building workshops, listen to hard-hitting panel discussions, network with industry leaders and so much more.
Readers of The Defiant can use code DEFI25 for 25% off registration.
DeFi Exploit
Euler Hacker Returns Over $150M
Lending Protocol Lost $200M On March 13 Through Flash Loan Exploit
By Owen Fernau
Less than two weeks after Euler Finance was hit by a nine-figure exploit, the attacker has returned nearly all the stolen assets, sending nearly $177M back to the lending protocol’s deployer wallet.
The returned funds come as Euler and the hacker have been engaged in negotiations through on-chain messages. The hacker previously returned 3,000 ETH in three separate transactions on Mar. 18.
Read the full story in The Defiant
Governance
MakerDAO Ratifies Constitution Aiming to Decentralize DAI
Endgame Plan limits RWAs in favor of crypto collateral for DAI
By Samuel Haig
MakerDAO on Monday passed a governance proposal that ratifies a “Constitution” which proponents argue will make the second-biggest DeFi protocol and issuer of the Dai stablecoin more resilient against censorship.
The proposal includes measures for MakerDAO to increasingly decentralize DAI collateral, allow the stablecoin to free-float relative to the dollar, and improve the protocol’s governance.
While in the past years, the lender had prioritized the incorporation of real-world assets and fiat-backed stablecoins, the Endgame Plan will bring the protocol closer to its roots – DAI was initially only backed with ETH. A more decentralized collateral base for DAI is even more relevant today, as crypto faces increased regulatory scrutiny.
Read the full story in The Defiant
DeFi Lending
Teller V2 To Offer Fixed Term Loans Against ‘Any’ Crypto Asset
No Liquidations As Long As Repayments Are Timely
By Samuel Haig
On March 23, Teller detailed the key features of its V2 protocol, emphasizing its focus on time rather than price-based liquidations. Time-based liquidations mean that borrowers will lose their collateral only if they fail to make repayments on time.
By contrast, most DeFi borrowers risk price-based liquidations and must ensure that the value of their collateral assets always exceeds the value of their loans to avoid getting wiped out.
And while most DeFi lending protocols only support a small number of assets for borrowing or as collateral for loans, Teller says its V2 iteration can support ERC-20 token or NFT as collateral.
Read the full story in The Defiant
NFTs
Wassies
Wassies NFT Project Launches Pop-up Hotel In Singapore
Aims To Boost Real World Exposure Of Non-fungible Tokens
Popular NFT project Wassies has launched a themed pop-up hotel in Singapore which will run from March to September.
The six-floor hotel consists of 55 rooms, with 49 rooms being Wassie-themed and six rooms featuring ‘Wassies & Friends’ – CryptoPunks, Pudgy Penguins, Azukis, Nouns, Squiggles, and the Kong Collective.
Read the full story in The Defiant
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Dan Finlay Explains How MetaMask Will Become The Google of Web3
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- Source: https://thedefiant.io/defi-daily-polygon-zkevm-launched/
