Bellatrix is working on the Ethereum Beacon Chain. MakerDAO co-founder Rune offers an “end game plan” for free-floating DAI. KyberSwap is hacked from the front-end and the attacker moves a token worth $265,000.
Weekly DeFi Index
This week’s price and volume index is negative at – 2% and -15.98%, respectively, while the volatility index is positive at 30.6%.
Bellatrix hard fork, the last major upgrade before Ethereum Merge, was activated at 1
896 on the Beacon Chain. The purpose of this upgrade is to ensure that the validator generating the updated Beacon Chain blocks will configure the codebase prior to the Merge. Now the final stage is Paris, which will trigger the migration from proof of work to proof of stake by reaching a specific terminal total difficulty of came up with an „ultimate game plan” to save DAI from regulation. The plan will gradually reduce exposure to real-world assets, with the ultimate goal of turning DAI into a floating asset. The proposal received mixed reviews from the MakerDAO community.
Kyber Network, the liquidity protocol on which KyberSwap is built, confirmed a user interface hack on September 2. An attacker compromised the app’s interface via a Tag Manager script. Google (GTM), this script is commonly used to track user activity and data for analysis. Although Kyber identified the malicious codes and patched them within hours, the hackers managed to transfer US$265,000 in interest-bearing Aave Matic tokens in four transactions.
In general, the TVL downtrend of the L2 market narrowed, down -2.38% last week. Optimistic stack projects are down -1.37% and unknown stack projects are down –
.36%. Ethereum’s TVL is up 1.71%.