Oasis To Patch Vulnerability That Allowed It To Recover $150M Of Stolen Crypto

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DeFi Alpha

DeFi Alpha: Earn 30% Annualized with Leveraged ETH Vaults by Notional Finance

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Reverse Exploit

Oasis To Patch Vulnerability That Allowed It To Recover $150M Of Stolen Crypto

Company Wrestles With Balance Between DeFi Ethos and Protecting Users

By Aleksandar Gilbert

Oasis, a website that allows users to easily access the Maker protocol, DeFi’s oldest and largest lending protocol, is working to patch a vulnerability that allowed for the recovery of some $150M in stolen crypto.

Oasis and Jump Crypto managed to recover some $150M in crypto that was stolen last year from Wormhole, a protocol which lets users bridge assets between Solana and other blockchains.

Read the full story in The Defiant

Decentralized Identity

Polygon Launches Decentralized ID Service Powered By ZK Proofs

Launch Partners Include The Sandbox and Collab.Land

By Samuel Haig

Polygon, a popular scaling solution for Ethereum, has launched its long-awaited zero-knowledge-powered ID protocol.

The service uses zero-knowledge proofs (ZKPs), an advanced form of cryptography used to preserve privacy on-chain, allowing users to verify their identity without publicly exposing sensitive information.

Polygon says developers can use its ID service to launch exclusive content for verified users and meet regulatory compliance obligations.

Read the full story in The Defiant

DeFi Collaboration

MakerDAO Reactivates Aave Deposit Module As DeFi Markets Recover

Originally Launched In April 2021, D3M Was Shuttered Amid Bear Market

By Samuel Haig

Two of DeFi’s largest protocols are deepening ties as the sector begins to rebound from the bear market of 2022.

On Wednesday, MakerDAO reactivated its DAI Direct Deposit Module (D3M) for Aave v2.

Maker’s D3M allows lending protocols like Aave to mint DAI directly from the MakerDAO protocol to satisfy user demand.

Read the full story in The Defiant

DeFi Lending

Vitalik, Hitzig and Weyl Drop Metalabel Collection

Creator Platform Is Co-led By Kickstarter Founder Yancey Strickler

By Owen Fernau

It isn’t every day that Ethereum co-founder Vitalik Buterin gets involved with a new project.

But that’s what’s happening today, as Buterin, along with economists Zoe Hitzig and E. Glen Weyl, is rereleasing digital signed copies of “Liberal Radicalism,” a well-known paper which explores using a mechanism called quadratic voting to fund public projects.

The trio is using Metalabel, a platform positioning itself as an “operating system for groups of creators,” for the release.

Read the full story in The Defiant

NFTs

Yuga Labs

Top Dookey Dash NFT Sells for $1.6M

Yuga Labs Jumps Into Bitcoin NFT Market

By Aleksandar Gilbert

Call it Dookey Cash.

After a three-week competition, pseudonymous gamer Mongraal won Yuga Labs’ Dookey Dash video game. His reward? An NFT he promptly sold for a whopping $1.6M.

In other Yuga Labs news, the company announced the launch of its first-ever Bitcoin-based NFT collection, TwelveFold.

The 300 generative pieces were created in-house by the company’s art team “using 3D modeling, algorithmic construction and high-end rendering tools.”

Read the full story in The Defiant