Today in DeFi - Synthetix Oil, MakerDAO x YFI, And More
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Synthetix Oil
Synthetix, a synthetic derivate platform, has just launched sOIL and iOIL. You can now long or short crude oil futures in DeFi at kwenta.io (kwenta is a front end for Synthetix exchange). Pricing uses a Chainlink feed sourcing from ICE Brent Crude Oil futures prices.
MakerDAO X YFI
YFI, as well as BAL, can now be used as collateral on MakerDAO to mint DAI.
Or rather, it could. As of writing, the 7M cap for YFI-minted DAI is already completely used up. However, there is still 5M of the 7M BAL cap available for BAL holders.
Akropolis Hacked
Akropolis, a yield aggregator project, has been hacked recently for about $2M DAI.
โAt ~14:36 GMT we noticed a discrepancy in the APYs of our stablecoin pools and identified that ~2.0mn DAI had been drained out of the yCurve and sUSD pools.
These pools had been audited by two independent firms, however, the attack vectors used in the exploit were not identified in either audit. The essence of the exploit in question is a combination of a re-entrancy attack with dYdX flash loan origination.โ
Find out more in the post-mortem.
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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