Today in DeFi - Solana pump.fun Exploited for 1.9M, sUSD Depegged, Vertex Buyback & Burn, Linea Surge Volt 1 Premium, >100% APY on USDT, and more...
Issues π¨
pump.fun, a Solana-based memecoin launchpad, was exploited for ~$1.9 million through a βbonding curveβ attack. According to pump.fun, a former employee used his βprivileged positionβ to access a βwithdraw authorityβ and compromise the protocolβs internal systems. The platform is now back live and safe to use.
ALEX Lab, a Bitcoin DeFi protocol, was exploited for $4.3 million. The attacker gained control of the private key of the XLink bridge and used it to transfer stolen funds. The platform is paused, and the team monitors the explorerβs movement.
Synthetix sUSD depegged on Optimismo on May 16, with its price dropping to a low of $0.915 (~$0.96 as of writing). The depeg resulted from a large sBTC/wBTC LP withdrawing, using Synthetixβs spot synth redemption to acquire sUSD, and selling the sUSD in the relevant Curve pool.
Upcoming β³
Vertex, an Arbitrum-based perp & spot dex, announced the Buyback and Burn program for the VRTX token. 2M VRTX staked in the original Buyback & Stake program will be unstaked and moved to the burn address.
Aevo has completed the RBNβAEVO migration and will focus on revamping the tokenomics & trading experience, new launch airdrops, and a new gasless L2.
Synthetix is allocating 500k SNX for fee rebates on Base L2. Starting May 22nd, users trading on Kwenta Base will get 90% of their fees paid back in SNX weekly, up to the 50k SNX weekly cap.
Airdrops πͺ
Linea L2 launched Linea Surge Volt 1. Linea Surge is an LXP-driven program that rewards people for having assets on Linea and gives bonuses for deploying those assets into partner protocols.
Drift, a Solana-based trading protocol, launched the DRIFT airdrop claim. Claims are open for 3 months and will be closed on August 16, 2024, at 18:00 UTC.
Farms π§π»βπΎ
Stake your GHO to earn ~40% APR from AAVE and Merit Program
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>100% APY on USDT
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