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How the Compound Finance Governance Exploit Happened. The $25 Million Governance Exploit.

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Time Stamp: July 29, 2024 9:02 AM - Modified On: July 29, 2024 - Published By:
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Republished By Plato

Compound Finance, a pioneering decentralized finance (DeFi) platform, has recently been in the spotlight for a significant governance exploit resulting in a $25 million loss. This incident is not isolated; Compound has faced multiple security breaches over the years, each revealing vulnerabilities within the DeFi ecosystem. This article delves into the details of the recent hack, examines previous security breaches, and discusses the broader implications for Compound and the cryptocurrency industry.  The Incident On July 28, 2024, Compound Finance was hit by a governance exploit orchestrated by a group known

Paribus Embracing DAO transition.

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Time Stamp: December 22, 2023 3:07 PM - Modified On: December 22, 2023 - Published By:
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Republished By Plato

In our journey of developing Paribus, we’ve received a lot of feedback from our community, primarily positive and helpful. But, as is often the case when a small team controls a platform, not everyone agrees with our decisions. At every step, we’ve tried to make the best choices based on the information we had. We’ve always known that, eventually, it would be the community’s turn to take the lead in guiding Paribus. And, as we announced in our recent X-space update, that time is approaching fast with the release of

xBacked Launches xUSD, a 110% Over-Collateralised Stablecoin for Algorand Positioned to Transform the DeFi Realm

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Time Stamp: January 17, 2023 4:29 AM - Modified On: January 17, 2023 - Published By:
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Republished By Plato

MEDIA RELEASE xBacked is a permissionless over-collateralized stablecoin protocol built on Algorand that allows anyone to use cryptocurrency without the volatility xBacked's decentralised stablecoin xUSD is available now to be minted on the platform, and aims to maintain a stable value of $1 USD backed by assets in the basket Stability pool, on-chain governance and TGE (token generation event) will be available in the coming months 17 JANUARY 2023: Launching today, xBacked is set to raise the bar with its over-collateralized stablecoin, xUSD. Built on Algorand and backed by multiple