Daily Notes 12-10-2023
Developments
Platypus Finance, a DEX on Avalanche, was hacked for $2 million. Its TVL is down 25% from $12.05 million to $8.96 million. Previously, Platypus finance was also hacked in February 2023 for $8.5 million via a flash loan attack which depegged their stablecoin. The stablecoin never recovered back to $1 and sits at $0.33 today.
sFRAX
sFRAX (Staked FRAX) is now live and offering users 7.7% estimated APY on their FRAX. This is down from its initial 10% yield offering after 34.85 million FRAX ($34.85 million) was staked by users in the last day.
Scroll, a zero-knowledge EVM compatible Layer 2, is now live on mainnet. So far, 370 ETH ($570k) has been bridged to the chain. The current TVL is almost $200,000 (according to DefiLlama) with $100,000 of it locked on PunkSwap, a DEX.
Stars Arena Exploiter Cooperates
The Stars Arena exploiter has returned 240,000 AVAX, equal to $2.17 million (90% of the AVAX stolen), after accepting a 10% bounty of $257k.
The BH token suffered a $1.2 million exploit via a flash loan attack that manipulated the price of the token and allowed the hacker to take USDT from the LP.
The FOMC Meeting Minutes released yesterday expressed rates may potentially be raised again in the future. Policymakers also expressed that high interest rates should be maintained for an extended period of time and caution given to making any adjustments through interest rate decisions.
September CPI was published today at 3.7% for the month of September, after it was forecasted to be 3.6%. Core CPI was reported (as forecasted) at 4.1%. Last month it was published at 4.3%.
Trending Assets
Below $100M MC by performance, on chain
YGG, up 11.51%, and PERP, up 5.74%, were top performers for tokens below $100M MC.
Above $100M MC by performance, on chain
CANTO, up 9.45%, and FXS, up 6.26%, performed well today. Notably, Frax released sFRAX yesterday and Canto has moved towards becoming a zk-rollup on using Polygon CDK.
Above $1B MC by performance, on chain
Tokens above $1B MC underperformed today.
TVL
TVL Above $10M
Over the past day:
Frax, stablecoin on Ethereum, TVL grew by 15.46%.
Tranchess Ether, liquid staking strategy on Ethereum, TVL grew by 14.42%.
Retro, ve(3, 3) DEX on Polygon, TVL grew by 12.85%.
Fees
MetaMask fees earned are up 222.72%. friend.tech has dropped out of the top 3 fee earner spot that it enjoyed for a few weeks.
Disclaimer:
The information and services above are not intended to and shall not be used as investment advice.
You should consult with financial advisors before acting on any of the information and services. ASXN and ASXN staff are not investment advisors, do not represent or advise clients in any matter and are not bound by the professional responsibilities and duties of a financial advisor.
Nothing in the information and service, nor any receipt or use of such information or services, shall be construed or relied on as advertising or soliciting to provide any financial services.