Today in DeFi - Revert Exploit, Hong Kong to Relax Crypto Ban, NFT Lending, and More...

Revert Exploit

revert 🦇🔊 @revertfinance

1/ Short update on the exploit. We have a total account of the amounts that were withdrawn from affected accounts: USDC: 22983.235188, USDT: 4106.316699, OP: 485.5786287699002, WETH: 0.18217977664322793, DAI: 36.59093198260223, WMATIC: 211.21463945524238, PREMIA: 22

AMM liquidity management protocol Revert confirmed that their “v3utils” contract was hacked, and 90% of the funds were stolen from a single account. The team stated that they would compensate each victim and provide a post-mortem soon.

HK to Unban Retail Crypto Trading

Bloomberg Crypto @crypto

Hong Kong outlined a plan to let retail investors trade digital tokens like Bitcoin and Ether, a major step toward its goal of becoming a crypto hub

trib.alBloomberg - Are you a robot?

Hong Kong SFC proposes to relax the ban on crypto trading for retail investors and is inviting industry & experts to weigh in on the new policies until March 31.
New mandatory licensing provisions announced last year for HK centralized crypto service providers will come into effect on June 1. 

Timeswap Live on Polygon

Timeswap ⏳ V2 Mainnet Live || app.timeswap.io @TimeswapLabs

GM Time Travelers 🧑‍🚀 @TimeswapLabs V2 is stepping out of the Time Machine and is live on @0xPolygon mainnet ⏳💜 V2 comes with the same design principles as V1, but with 5x more capital efficiency & more! 💰 No oracles needed! 🔮 Read more 🕊️ timeswap.medium.com/timeswap-v2-ma…

timeswap.medium.comTimeswap V2 — Mainnet LaunchAfter the Big Bang, the Nebula takes shape.

Lending AMM Timeswap launch V2 on Polygon. V2 enables early exit for lenders & LPs, recycling repaid assets for more capital efficiency, and bidirectionality.

OpenSea Fee Changes

OpenSea @opensea

We’re making some big changes today: 1) OpenSea fee → 0% for a limited time 2) Moving to optional creator earnings (0.5% min) for all collections without on-chain enforcement (old & new) 3) Marketplaces with the same policies will not be blocked by the operator filter

OpenSea now cancels trading fees and moves to a minimum 0.5% creator earnings model with the option for sellers to pay more. OpenSea also hints at a potential airdrop/reward campaign.

Token Emissions Reduction, Potential NFT Airdrop, and More…