The Solana-based decentralized exchange (DEX), Mango Markets, has announced it is ceasing operations. This decision follows a settlement with the Securities and Exchange Commission (SEC) and concludes a turbulent period marked by a significant exploit in 2022 and subsequent governance challenges. The SEC settlement, the details of which remain under wraps, appears to be the final straw for the struggling platform. Internal governance votes, initially aimed at recovery and restructuring, ultimately failed to chart a viable path forward, compounding the difficulties faced in the aftermath of the...

Following the recent depegging of USD0++ from its $1 peg, Usual Protocol has implemented a novel revenue-sharing mechanism designed to bolster ecosystem stability and restore user confidence. This proactive measure aims to mitigate future volatility and strengthen the platform’s resilience against market fluctuations. The new model will redistribute a portion of platform revenue back to users, creating a more equitable and sustainable environment. Details regarding the specific parameters of the revenue-sharing model, including eligibility criteria and distribution methods, will be released...

Decentralized finance (DeFi) thrives on the promise of trustless transactions. Yet, a critical vulnerability lurks within the architecture of many prominent platforms: the validator. These essential components, responsible for securing Proof-of-Stake (PoS) blockchains, are increasingly becoming targets for malicious actors. When validators are compromised – whether through hacking, insider threats, or sophisticated social engineering – the entire DeFi ecosystem faces significant risks. This compromise can manifest in various ways. A compromised validator might subtly manipulate transaction data,...

EigenLayer, the innovative restaking protocol, has officially launched its highly anticipated slashing testnet. This marks a significant milestone in the project’s development, paving the way for a more secure and robust restaking ecosystem. The testnet will allow developers and validators to rigorously test the protocol’s slashing mechanisms, ensuring the integrity and resilience of staked assets. With approximately $15.4 billion in Total Value Locked (TVL) according to DefiLlama, the success of EigenLayer’s slashing mechanism is crucial for maintaining trust and confidence...