Dear DeFi Enthusiasts,
Happy Lunar New Year! While many of you may now be at the age of giving red envelopes, don’t forget that Uniswap and 1inch have already delivered theirs. Wishing everyone a prosperous Year of the Ox!
This week’s headlines include:
- Hackers exploit Iron Bank to attack Alpha Homora, profiting $37 million.
- Decentralized exchange protocol 0x establishes the 0x DAO.
- 1inch airdrops over 15 million 1INCH tokens to the crypto community.
- Perpetual Protocol launches trading mining with weekly rewards.
Key Events of the Week
Alpha Homora Loses $37 Million in Iron Bank Exploit
Leveraged lending protocol Alpha Homora suffered one of DeFi’s largest attacks, losing over $37 million. The attacker repeatedly exploited Alpha’s loans on Iron Bank and a vulnerability in its smart contract. Alpha has identified a primary suspect and restored Iron Bank functionality. For details, refer to Chain News.
0x Protocol Launches 0x DAO for Decentralized Governance
The 0x decentralized exchange protocol is transitioning to community-led governance. The 0x DAO, seeded with $1 million worth of ZRX, will manage treasury funds, protocol integrations, and liquidity incentives. Bootstrap representatives will oversee initial decentralization steps.
1inch Distributes 15 Million Tokens in Airdrop
Decentralized aggregator 1inch airdropped 15.5 million 1INCH tokens (worth ~$80 million) to Mooniswap users and liquidity providers.
Perpetual Protocol Begins Trading Mining
The DeFi derivatives platform launched a two-week test phase, distributing 30,000 PERP tokens weekly. Users receive 110% of trading fees back in PERP.
DODO Introduces vDODO Membership Model
The DODO DEX unveiled its V2 tokenomics, granting governance rights and IDO access to DODO holders. vDODO members gain additional perks like fee dividends.
Other Updates:
- PoolTogether deploys no-loss prize pools.
- Aave-TM ATM enables cash deposits into Aave.
- UMA introduces KPI options for community incentives.
- Bancor rewards Nexus Mutual users with BNT.
- mStable launches Bitcoin-backed mBTC.
Blockchain & Institutional News
- Ethereum’s high fees drive users to Binance Smart Chain.
- Celo raises $20 million for its payment network.
- Solana passes inflation rewards proposal.
Insights from Industry Leaders
👉 Mark Cuban: "Ethereum’s utility surpasses Bitcoin’s store of value."
👉 Eric Conner: "Miners shouldn’t dictate Ethereum’s future—community should."
👉 Ryan Adams: "Crypto finance outperforms traditional finance."
Data & Metrics
Total Value Locked (TVL): $42B (as of Feb 15).
Top 10 DeFi Projects: Maker, Aave, Compound, etc.
Source: DeFi Pulse.
FAQ
Q: How can I claim 1inch’s airdrop?
A: Eligible users (Mooniswap traders/LPs) automatically received tokens. Check your wallet.
Q: What’s next for 0x DAO?
A: Bootstrap reps will decentralize governance, with proposals voted by ZRX holders.
Q: Is Alpha Homora safe now?
A: Iron Bank is operational, but audits are ongoing.
Author Bios:
- Raizel: Bitcoin/DeFi YouTuber.
- Thomas: DeFi enthusiast in chip design.
- Anderson: Founder of Dapp Pocket.
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