– The top 100 DeFi tokens had a mixed week, trading in a narrow range before surging on July 13 due to Ripple’s partial win in its court battle with the SEC.
– Zero-knowledge proof-based scalable solutions, specifically ZK-rollups, have gained popularity in the Ethereum ecosystem.
– Bug bounties, which incentivize white hat hackers to find and report vulnerabilities, have mixed results in securing the DeFi ecosystem.
– Algorand’s decentralized lending protocol, Algofi, will wind down by the end of the year.
– Rodeo Finance, an Arbitrum-based DeFi protocol, was exploited for $1.53 million due to a code vulnerability in its Oracle.
– The founder of Connext proposed a “Sovereign Bridged Token” standard to prevent future issues and exploits like the Multichain incident.
– The DeFi market saw a bullish surge after three bearish weeks, with most tokens trading in the green. The total value locked in DeFi protocols remained below $50 billion.
