Now Solana users are trading tokens back and forth to maximise the potential rewards from Jupiter’s subsequent airdrops. Jupiter has signalled that those who use the aggregator now will likely qualify for airdrop number two.Ī recent X post from Jupiter team member Ming Ng detailing how users who previously traded more will get more tokens has only added fuel to the fire. (DefiLlama)īy now it has become pretty clear why Solana’s DEX volume is soaring - the promise of token airdrops from the blockchain’s top exchange aggregator, Jupiter.Īs we discussed in a previous newsletter, Jupiter plans to launch a governance token and airdrop 10% to Solana users who stayed active during the crypto winter.īut that’s just the first of four planned airdrops. Solana decentralised exchange volume hits an all-time high for the second week running. Traders on Solana have continued to push up the blockchain’s decentralised exchange volume, surpassing last week’s high of $1.7 billion to hit a new high just under $2.2 billion. The dYdX exploit is similar to Avraham Eisenberg’s attack on Solana trading protocol Mango Markets last year, and highlights how low liquidity on markets for long-tail assets like YFI is still a serious problem for DeFi protocols. According to dYdX founder Antonio Juliano, the protocol is reporting the incident to the FBI. Yearn Finance's YFI token suddenly dropped 40%Īn attacker exploited the low margin requirements on dYdX’s YFI trading market to pump and dump the token, extracting around $9 million from the protocol.ĭYdX has since increased margin requirements on less liquid markets.
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