Arkansas Welcomes Bitcoin Miners, NFTickets Soar High, and SushiSwap's Expensive Yoink

Arkansas Hustles for Bitcoin Miners

The Wild West of crypto just got a new sheriff in town—Arkansas! Arkansas is opening its arms to Bitcoin miners with the Arkansas Data Centers Act of 2023. Having passed the House of Reps and the Senate, the bill now awaits the governor's signature. The act aims to regulate the mining industry in the state, offering protection from discriminatory taxes and regulations. Miners must pay their dues in acceptable currencies and avoid stressing the power grid.

Introduced by Senator Joshua Bryant on March 30, the bill quickly gained support, acknowledging the job creation and economic benefits from data centers. As per the legislation, crypto miners will enjoy the same rights as data centers, with no differing requirements imposed.

Arkansas follows Montana's footsteps in supporting crypto miners, while Texas and New York take a more cautious approach. On a national level, President Biden's budget proposal could see miners hit with a 30% tax on electricity costs, intended to "reduce mining activity."

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SushiSwap Exploit Drains $3.3M

Decentralized exchange SushiSwap suffered an exploit resulting in the loss of over $3.3 million from a user, 0xSifu. Unfortunately not a first for the DEX, having been hacked in the past and it’s infamous start. The hack involved an approve-related bug in the RouterProcessor2 contract, which PeckShield and SushiSwap Head Chef Jared Grey recommend revoking on all chains.

The bug enables unauthorized entities to "yoink" tokens without proper approval. Early reports suggest only users who swapped on SushiSwap in the last four days may be affected. DeFi Llama's @0xngmi published a list of affected contracts and a tool to check impacted addresses.

190 Ethereum addresses and over 2,000 Layer 2 Arbitrum addresses have approved the problematic contract. Sushi's governance token price dipped by 0.6% following the news, while the platform works with security teams to address the issue.

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Flybondi Embraces Web3 with NFT E-Tickets

Taking to the skies with a dash of blockchain, Argentine airline Flybondi is turning heads and ticket stubs digital. The low-cost airline is integrating Web3 into its ticketing process, issuing e-tickets as NFTs through Ticket 3.0. This expansion builds on the existing partnership with NFT ticketing company TravelX, using Algorand tech. Passengers can change names, transfer, or sell their "NFTickets" independently, providing a more flexible travel experience.

Flybondi aims to reduce customer service costs and increase revenue from trading fees. TravelX charges a 2% transaction fee for trades on the secondary market, with airlines receiving a 2% cut as well. Passengers can purchase travel tickets using fiat currency, with TravelX issuing a synchronized NFT ticket alongside the regular e-ticket. Ticket 3.0 account holders can manage and store their NFTs through Flybondi, with ticket-related rules integrated into the NFT's smart contract.

TravelX has also opened its infrastructure to other exchanges or marketplaces through its API, with over 60 airlines worldwide exploring the use cases of its NFT tickets.

Read more: https://bit.ly/3o3n71d