Boiler Blockchain ranked 3rd place for SKALE Labs' Best Use Of Zero Gas Fees bounty of 1000$ at ETH San Francisco! Our winning product was Cryptobaso – an innovative buy-and-sell limit order system that leverages SKALE network's zero gas fees to empower traders like never before. What Cryptobaso does: Cryptobaso assists users in executing swap orders across multiple fragmented transactions(i.e. Micro-Transactions) on DEXs without gas fees. This enables users to minimize potential losses from slippage, price impact, frontrunning, or high gas fees. Our tech stack: 1) Next.js and Tailwind CSS: Frontend and a user-friendly interface. 2)Ethers.js: To connect the UI with SKALE and enable user interaction with its blockchain. 3)Solidity: To develop the main smart contract framework for Cryptobaso. We created our own DEX to simulate trading- including swaps, liquidity management, and limit order execution. It included functionality to validate real-time prices before executing trades as well as ensuring that each of the transaction fragments meet the user’s specified criteria for trade execution. Further, we also built a backend server using Ethers.js and the hardhat local node framework to conduct price checks and application testing. Difficulties we faced: Deploying the dex.sol contract to simulate realistic DEX environments for testing. There were no testnet DEXs, and other DEX’ documentation was scarce. Our key takeaway from working on this project: - We familiarized ourselves with DEXs on the SKALE network. - We learned and implemented strategies to prevent MEVs from safeguarding transactions - We also understood the importance of a user-friendly interface to facilitate usage. Thank you, ETHGlobal, for the incredible opportunity to innovate and showcase our work in San Francisco! Finally, a shoutout to our talented developers, Mugdha Patil, Pranav Doshi Shivam Rastogi, and Vincent Palmerio, for an amazing job! For more info, check out https://lnkd.in/eq5q3RCn
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Move-based blockchains are surging in total value locked this year, with Sui Foundation leaping 233% and Aptos Foundation also showing significant growth of 210%, according to data aggregator DefiLlama. https://lnkd.in/ej5eHynx
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???RestakeFi Restake Finance is a modular liquid staking protocol developed on EigenLayer, utilizing users' liquid staking tokens (LSTs) as collateral in crypto-economic security for EigenLayer's validated services. This approach, known as rehypothecation, allows depositors to earn both Ethereum staking rewards and EigenLayer's native rewards. Upon depositing, users receive restaked ETH (rstETH) shares, issued at a 1:1 ratio. These pooled LSTs are then managed by DAO-controlled smart contracts, facilitating deposits into EigenLayer. This process offers users the flexibility to restake their LSTs liquidly without locking their assets. EigenLayer introduces restaking, a novel crypto-economic security primitive within the Ethereum ecosystem. It enables ETH holders, whether staking natively or through LSTs, to participate in restaking via EigenLayer's smart contracts. This process not only secures the network but also opens avenues for additional rewards. RestakeFi builds upon EigenLayer to offer a streamlined, user-friendly interface for earning rewards from LSTs. By automating the operator selection process, the system simplifies the experience for users. The?STRATEGYMANAGER's expertise guides fund allocation, creating a hassle-free and efficient path to reward generation for users. Currently, RestakeFi exclusively supports liquid restaking and interacts with EigenLayer?M1 contracts[https://lnkd.in/g4HtD_6y]. We found 27 issues including 2 Criticals and 1 High: ?? Critical Severity: - Attacker Can Downscale All Protocol Shares by 18 Decimals - Shares Not Burned After Redemption of Underlying Assets ?? High Severity: - Attacker Can DoS Withdrawals ?? Medium Severity: - DoS in Controller's?DEPOSITWITHPERMIT?Function - Funds Can Get Stuck Due to Incorrect Initialization ?? Low Severity: - Protocol Token Cannot Be Unpaused - Protocol Token Initialization Might Not Be Properly Configured - Floating Pragma - Improper Namespace NatSpec Tag for ERC-7201 - Missing Docstrings - Confusing Usage of?STAKER?Index - Use of Boolean Literal as Conditional - Incorrect Value Emitted in Event ?? Read the full report at https://lnkd.in/gdMV5HAc ???? Hey! Is this interesting to you? We're hiring: https://lnkd.in/dndAUNYA #web3 #blockchain #defisecurity #blockchainsecurity #restakefi #audit #openzeppelin #defi #hiring #remote #applicationsecurity #technology #ethereum ??
Restakefi Audit
blog.openzeppelin.com
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Uniswap just dropped Unichain – their very own Layer-2. And it’s turning heads with two novel designs and a lot of interesting takeaways. ???????????? ???? ???????? ???????? ?????? ??????????????????, ????????'?? ?????? ????;????: ? Unichain is a DeFi-focused optimistic rollup, built within the OP Superchain (?????????? ????????, ??????????????????, ???????????????? ??????.) ? ?It introduces a new block-building system that delivers lightning-fast transactions (250ms vs. Solana's 400ms) and decouples sequencing from block-building, allowing apps and users to internalize MEV. ? UNI-holders have reason to celebrate: they’ll be able to participate in the Unichain Validation Network, potentially earning fees in the process. ? It’s live on testnet and slated for mainnet launch later this year. In short, it's the biggest DEX saying: “No more value leakage to external actors – we’re keeping it in-house while upgrading the user experience.” Unichain has been in the works for a while, and here’s why it’s interesting: 1?? ??????????-???????? ??????????????, ????????-???????? ?????????????? ?????? ????????????????. With fees already low, Ethereum stands to lose one of its biggest revenue sources. It raises the question: What kind of DeFi activity will still happen on the Ethereum mainnet in two years? On the flip side, this also reaffirms Ethereum’s rollup-centric vision. If we’re heading toward a future with thousands of Layer-2s and app-specific chains built on Ethereum, serving as the neutral settlement and data availability layer could still be a strong, viable role. 2?? ?????? ??????-?????? ???????????? ???? ???????????????? ??????????????. Users gravitate toward great apps, and it’s the dominant applications that will shape the underlying infrastructure—not the other way around. Uniswap is now in a position to capture fees from high-value transactions directly. 3?? ???????????????????? ???????? ???????? ???? ????????????????. Uniswap’s strategy is clear: they now control the chain, the protocol (Uniswap v2, v3, v4), and the application layer (Uniswap X, Wallet, and frontend). This vertical integration will set a trend, and many others are likely to follow suit. PS: I might be in the minority with my view that this is short-term bearish for Ethereum. We polled our readers, and so far, 73% disagree. What’s your take?
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Uniswap ?? Optimism Today we’re excited to welcome Uniswap Labs and Uniswap Foundation to the Superchain with the launch of Unichain, an L2 purpose-built for DeFi developers - exclusively on the OP Stack. Uniswap joins powerhouses like Coinbase, Sony, and Worldcoin, who are all choosing to build on the OP Stack as part of the Superchain. Rather than compete, we’re all working together to advance technology, drive adoption, and bring Ethereum to scale. As part of the Superchain, Unichain will:? - Support core development of the OP Stack? - Dedicate revenue back to the Optimism Collective - Participate in Optimism governance - Join a global network of values-aligned builders. Powering nearly half of all L2 transactions, the OP Stack is leading the way in scaling Ethereum’s technology and values.
Welcoming Unichain to the Superchain
optimism.mirror.xyz
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Impressive to see Ethereum's Eigen Layer with over $5 billion of deposits already. Some thoughts and data on: 1) Eigen Layer's business model, 2) Where the deposits are coming from, 3) What this means for ETH holders, Developers, and the Network at large ---- ?????? ???????????????? ?????????? Eigen Layer seeks to increase the speed of innovation within the ecosystem by allowing developers to "rent" economic security from Ethereum. In doing so, they've created a two-sided market of "Actively Validated Services," and Ethereum Stakers. Ethereum stakers can deposit "restaked" ETH into Eigen Layer. Eigen Layer then dishes it out to Actively Validated Services (AVSs) that have opted into the solution. The AVSs then share their user fees. The goal is to create a win/win/win --- for ETH holders, developers, and Eigen Layer itself. ?????? ??????????????: benefit by "restaking" their ETH while earning additional fees (yield which comes from data oracles, scaling solutions, etc that are "renting" the security from the restaked ETH. Holders incur additional smart contract risk in return for higher yield. ????????????????????: forgo the burden, complexity, and cost of boostrapping a validator network. Instead simply leverage the security and capital efficiency of ETH. ?????????? ??????????: Receives a cut of the fees that "Actively Validated Services" pay to ETH restakers. ----- ?????????? ??????????'?? ???????????????? Eigen Layer currently supports 9 liquid staking derivatives. A quick breakdown of the top staking protocol deposits @21co Dune dashboard: - stETH (Lido) = 961k -swETH (Swell) = 204k -ETHx (Stader) = 104k -wBETH (Binance) = 85k -rETH (Rocket Pool) = 65k - cbETH (Coinbase) = 31k ----- ???????? ?????????? ?????????? ?????????? ?????? ?????? ?????????????? ?????? ????????????????????: ??????????????: ability to access higher yields than simply native yield coming from Ethereum user transactions, MEV, and consensus rewards (with added smart contract risk). ????????????????????: spin up your project without thinking about a native token, bootstrapping, and incentivizing developers, etc. Simply focus on product/market fit. ???????????????? ?????????????? ???? ?????????? & ??????: With Eigen Layer 100% focused on Ethereum, we view their presence as a positive catalyst for infrastructure growth and scalability, more *illiquid* ETH locked up, higher yields for users, and demand for ETH the asset. While "restaking" ETH doesn't directly create additional leverage within Ethereum, it could catalyze a "DeFi Summer 2.0" scenario due to the increased capital efficiency of staked ETH. Certainly something to keep an eye on this cycle. ---- If you're interested, the next issue of The DeFi Report covers an update on The Investment Case (and risks) for Ethereum. See the first comment if you'd like to have the free report dropped into your inbox when it's published. Data: Eigen Layer Net Deposits powered by Token Terminal
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Today in DeFi - Base Launches Basenames, Seif Wallet Private Keys Exposed, ZKFest’s DeFi stage Live, Earn ZK Token Airdrop by Completing Tasks on Testnet, and more.. by ???????????? via Today in DeFi ([Global] Security Breach) URL: https://ift.tt/ZHDnrzc Launches ?? Base announced the launch of Basenames, allowing users to claim unique base.eth usernames for onchain identity. The Basenames are being sold via a Dutch auction to ensure fair access. Gravity, a Layer 1 blockchain, has launched its Alpha Mainnet. The platform aims to enhance cross-chain interactions with features like fully onchain questing, smart savings, and its native gas token, G Token. Updates ?? Arbitrum is holding a vote on the introduction of ARB staking to increase utility and governance. The proposal includes creating a liquid staked ARB token (stARB) for DeFi and restaking purposes and forming working groups to address reward funding and delegate incentives. Voting begins on August 23. Stargate DAO is proposing changes to its staking system to replace the current ve-tokenomics model. The proposed changes include removing the existing lock feature, introducing a 21-day unbonding period, and distributing Treasury tokens to previous lockers in stages. Superbridge has rolled out themed bridges for specific tokens. New additions include dedicated bridges for $ezETH and $USDC, using Hyperlane’s warp routes and Circle’s CCTP for fee-free transfers. Dumpy.fun, a platform for leveraging and shorting memecoins, has entered open beta. The update features increased leverage options, a broader range of assets, and the removal of password requirements. Define your own fixed rates and loan durations through Size Credit’s innovative lending model. Available today on Base Today in DeFi is supported in part by Size Credit Issues ?? Seif Wallet has issued an urgent security alert due to a critical breach affecting versions v1.1.0 to v1.1.5, where private keys were exposed. Users are advised to update to v1.1.7, check if they're affected, and if so, transfer assets to a secure wallet immediately. AshPerp, a decentralized perpetual trading protocol on MultiversX, experienced a rare oracle configuration error on August 19, 2024, resulting in a $26,000 loss for vault liquidity providers (LPs). Upcoming ? Rocket Pool is conducting a vote on RPIP-49, a proposal to revise tokenomics to improve growth and capital efficiency. The proposal includes several RPIPs related to bond curves, megapools, and protocol upgrades. Corn, a new Ethereum Layer 2 network, uses Bitcoin as its gas token through the hybrid BTCN token. The network is designed to align users, apps, and token holders while providing yield opportunities. Starknet is initiating its first Mainnet vote for STRK holders regarding the introduction of staking. The vote will address the minting mechanism and its adjustment parameters. The test vote is scheduled for September 2-4, 2024, with the main voting period fr...
Today in DeFi - Base Launches Basenames, Seif Wallet Private Keys Exposed, ZKFest’s DeFi stage Live, Earn ZK Token Airdrop by Completing Tasks on Testnet, and more.. by ???????????? via Today in DeFi ([Global] Security Breach) URL: https://ift.tt/ZHDnrzc Launches ?? Base announced the launch of Basenames, allowing users to claim unique base.eth usernames for onchain identity. The Basename...
todayindefi.com
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Today in DeFi - Base Launches Basenames, Seif Wallet Private Keys Exposed, ZKFest’s DeFi stage Live, Earn ZK Token Airdrop by Completing Tasks on Testnet, and more.. by ???????????? via Today in DeFi ([Global] Security Breach) URL: https://ift.tt/ZHDnrzc Launches ?? Base announced the launch of Basenames, allowing users to claim unique base.eth usernames for onchain identity. The Basenames are being sold via a Dutch auction to ensure fair access. Gravity, a Layer 1 blockchain, has launched its Alpha Mainnet. The platform aims to enhance cross-chain interactions with features like fully onchain questing, smart savings, and its native gas token, G Token. Updates ?? Arbitrum is holding a vote on the introduction of ARB staking to increase utility and governance. The proposal includes creating a liquid staked ARB token (stARB) for DeFi and restaking purposes and forming working groups to address reward funding and delegate incentives. Voting begins on August 23. Stargate DAO is proposing changes to its staking system to replace the current ve-tokenomics model. The proposed changes include removing the existing lock feature, introducing a 21-day unbonding period, and distributing Treasury tokens to previous lockers in stages. Superbridge has rolled out themed bridges for specific tokens. New additions include dedicated bridges for $ezETH and $USDC, using Hyperlane’s warp routes and Circle’s CCTP for fee-free transfers. Dumpy.fun, a platform for leveraging and shorting memecoins, has entered open beta. The update features increased leverage options, a broader range of assets, and the removal of password requirements. Define your own fixed rates and loan durations through Size Credit’s innovative lending model. Available today on Base Today in DeFi is supported in part by Size Credit Issues ?? Seif Wallet has issued an urgent security alert due to a critical breach affecting versions v1.1.0 to v1.1.5, where private keys were exposed. Users are advised to update to v1.1.7, check if they're affected, and if so, transfer assets to a secure wallet immediately. AshPerp, a decentralized perpetual trading protocol on MultiversX, experienced a rare oracle configuration error on August 19, 2024, resulting in a $26,000 loss for vault liquidity providers (LPs). Upcoming ? Rocket Pool is conducting a vote on RPIP-49, a proposal to revise tokenomics to improve growth and capital efficiency. The proposal includes several RPIPs related to bond curves, megapools, and protocol upgrades. Corn, a new Ethereum Layer 2 network, uses Bitcoin as its gas token through the hybrid BTCN token. The network is designed to align users, apps, and token holders while providing yield opportunities. Starknet is initiating its first Mainnet vote for STRK holders regarding the introduction of staking. The vote will address the minting mechanism and its adjustment parameters. The test vote is scheduled for September 2-4, 2024, with the main voting period fr...
Today in DeFi - Base Launches Basenames, Seif Wallet Private Keys Exposed, ZKFest’s DeFi stage Live, Earn ZK Token Airdrop by Completing Tasks on Testnet, and more.. by ???????????? via Today in DeFi ([Global] Security Breach) URL: https://ift.tt/ZHDnrzc Launches ?? Base announced the launch of Basenames, allowing users to claim unique base.eth usernames for onchain identity. The Basename...
todayindefi.com
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Uniswap generated nearly $1.3b of trading and settlement fees across 5 primary chains over the last year. The protocol and token holders captured $0 of that value. [100% went to Liquidity Providers, Ethereum Validators, MEV bots, and the L2 sequencers] But with the launch of Unichain later this year, that's all about to change. Breaking down the economic impact of Unichain — Uniswap's new general purpose L2 within the OP Superchain: 1. Settlement fees. Instead of paying $368m to Ethereum validators, Uniswap Labs (and most likely UNI token holders) will capture that value when they launch Unichain. 2. MEV. In addition to taking Ethereum's settlement fees, Uniswap will also be able to capture MEV since they will own the validators on Unichain. MEV is estimated to be about 10% of total fees paid on Uniswap ($100m over the last year). They will have the option to share some of this with token holders as well. 3. Liquidity Providers. LPs will continue to receive 100% of trading fees, and may be able to participate in settlement & MEV as well once Unichain is live. _____ The winners of Uniswap's move to Unichain? - Uniswap Labs (capture settlement fees & MEV) - UNI token holders (participate in settlement fees & MEV by staking) - Uniswap LPs (participate in settlement & MEV by staking) - Optimism (will capture a % of settlement and MEV from Unichain) The losers of Uniswaps move to Unichain? - Ethereum Validators (could lose a large chunk of the $368m of settlement fees coming from Uniswap) - ETH token holders (less burned ETH and settlement fees) - Arbitrum, Base sequencers (loss of settlement fees & MEV to Unichain) ______ At the end of the day, Uniswap is simply integrating within the tech stack so that they can control more of the value they are creating through their interface and smart contracts. I'll be sharing a deeper dive into the economic impacts throughout the tech stack via The DeFi Report in the coming weeks. And we're releasing the Q3 installment of The ETH Report on Wednesday. If you'd like to have our latest research hit your inbox when it's published, see the link in the comments below ?? Data: powered by Token Terminal
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