Vestnik Defi: FTX collapse led to an increase in the popularity of DEX, and 1inch Network updated the protocol of the liquidity aggregator
The decentralized finance sector (Defi) continues to attract increased attention of cryptocurrency investors. FORKLOG collected the most important events and news of the last weeks in digest.
The main “Alternative Dimensions”. indicators of the Defi segment
Over the past two weeks, the volume of blocked funds (TVL) in Defi Protocols decreased by 24%-to $ 64.41 billion. The leader in the indicator is MakerDao ($ 6.66 billion), AAVE ($ 6.66 billion) and LIDO ($ 5.83 billion), respectively, are held by the second and third line of the rating.
TVL in Ethereum applications decreased by 23%-to $ 40 billion. The value expressed in ETH, on the contrary, increased by 3% (32.97 million ETH against 31.97 million ETH two weeks earlier).
The total trading volume of decentralized exchanges (DEX) over the past 30 days has reached $ 67.2 billion.
Uniswap continues to dominate the non -keastodial exchanges market – it accounts for 62.6% of the total turnover. The second DEX in terms of indicator is Curve (21.4%), the third is Dodo (7.5%).
Flare Defi project was hacked by $ 17.9 million, DFX Finance lost $ 7.5 million as a result of an attack
Unknown brought out of Defi Protocol Flare on BNB Chain, assets of $ 17.9 million. About 17 million BUSD and 4000 BNB became the prey of an attacker. The cracker sent part of the assets to the Tornado Cash mixing service.
Stable -oriented decentralized exchange DFX Finance On the basis of Ethereum, I lost digital assets worth about $ 7.5 million as a result of an attack.
Peckshield experts noted that hacking became possible due to “lack of proper protection against re-entrance”.
According to Blocksec experts, the attacker took advantage of the flash loans to devastate liquidity bullets. He converted stolen tokens in ETH and brought cryptocurrency worth about $ 4.3 million.
The remaining tokens in the amount of $ 3.2 million was intercepted by the MEV bout during the so-called “sandwich attack”-a leading transaction.
1inch Network presented the fifth version of the Protocol of the liquidity aggregator with DEX
1inch Network Defi project launched the fifth version of the liquidity aggregator protocol with DEX. 1inch Router V5 will offer “at least 10% gas savings in the exchange of tokens” in comparison with other platforms.
In the fifth version, Limit Order Protocol V3 was implemented, a new logic of interaction was used, and preliminary and post-intensity was added.
Implemented an improved system for processing smart contract errors. Client errors are added to it. The latter explain to users convenient and economically why this or that operation ended in failure.
Audit 1inch Router V5 conducted Consensys, Openzeppelin and ABDK Consulting. The project has a bounty program.
FTX collapse led to an increase in the popularity of DEX
The events around FTX have also led to the reorientation of many users to decentralized exchanges. According to the results of last week, the volume of bidding in the segment amounted to $ 27 billion – 62% higher than the previous reporting period.
The jump occurred on November 8 amid a preliminary agreement on the purchase of FTX competitor Binance. On November 10, the indicator overcame $ 8 billion – more than four times higher than the average monthly value.
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