Today in DeFi - AAVE Adds LP Tokens, DeFi DNS Attack, and more
AAVE Adds LP Tokens
AAVE has added Uniswap V2 and Balancer V1 LP tokens as collateral. You can now deposit LP Tokens such as DAI/USD, WBTC/ETH and borrow against them. Besides the obvious benefit of unlocking your otherwise locked capital, this allows for things such as levering up on LP positions or adjusting the asset exposure.
Today in DeFi is sponsored by Aave.
Aave is a decentralised, open-source, and non-custodial liquidity protocol for earning interest on deposits and borrowing assets. It tokenizes deposits as aTokens, which accrue interest in real time. Aave also features access to Flash Loans and Credit Delegation as uncollateralised loan options.
Try it today at:Β https://aave.com
BSC DNS Attacks
BSC βDeFiβ projects Pancakeswap and Cream Finance, were DNS attacked. Users visiting the sites would have seen a window asking them for their seed phrase.
The teams have since updated the sites, but because DNS takes time to update, I would recommend waiting until the Metamask phishing warning disappears before using the site.
Roll Hacked
Roll, a social token platform, was hacked recently for 5.7M. Roll has put together a 500k recovery fund.
Rekt has a detailed writeup.
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Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned