Fomo Overtakes Pump.fun in Daily Revenue on Solana
Social trading platform Fomo generated $1.76 million in revenue this Friday, surpassing the dominant memecoin launchpad Pump.fun, which brought in $1.1 million. While Pump.fun still leads on the 30-day chart with $57 million compared to Fomo's $17.6 million, the daily flip marks a significant shift in Solana ecosystem activity.
Fomo functions as a social media-style trading feed, allowing users to track and mirror the trades of others. The platform recently secured $75 million in Series B funding led by Index Ventures, bringing its total valuation to $550 million.
#Solana #Fomo #PumpFun #DeFi
Social trading platform Fomo generated $1.76 million in revenue this Friday, surpassing the dominant memecoin launchpad Pump.fun, which brought in $1.1 million. While Pump.fun still leads on the 30-day chart with $57 million compared to Fomo's $17.6 million, the daily flip marks a significant shift in Solana ecosystem activity.
Fomo functions as a social media-style trading feed, allowing users to track and mirror the trades of others. The platform recently secured $75 million in Series B funding led by Index Ventures, bringing its total valuation to $550 million.
#Solana #Fomo #PumpFun #DeFi
🚨 Symbiosis Bitcoin Bridge Exploited: Trillions in Fake syBTC Minted
Cross-chain protocol Symbiosis has paused its native Bitcoin Bridge following a major exploit on September 11. An attacker exploited a vulnerability in the BridgeV2 system to mint 2^62 units of syBTC, a synthetic version of Bitcoin, on the BNB Chain.
Security firm Blockaid reports the attacker has already converted some assets, realizing approximately $336,000 in WBTC on Ethereum. Symbiosis confirmed it has recovered 15 BTC so far, which is currently secured in a team-controlled multisig wallet.
While the native bridge remains offline, Bitcoin swaps via partners Chainflip and THORChain are operational. Other routes on EVM chains, TRON, and TON were not affected by the breach.
#Symbiosis #BitcoinBridge #CryptoHack #DeFi
Cross-chain protocol Symbiosis has paused its native Bitcoin Bridge following a major exploit on September 11. An attacker exploited a vulnerability in the BridgeV2 system to mint 2^62 units of syBTC, a synthetic version of Bitcoin, on the BNB Chain.
Security firm Blockaid reports the attacker has already converted some assets, realizing approximately $336,000 in WBTC on Ethereum. Symbiosis confirmed it has recovered 15 BTC so far, which is currently secured in a team-controlled multisig wallet.
While the native bridge remains offline, Bitcoin swaps via partners Chainflip and THORChain are operational. Other routes on EVM chains, TRON, and TON were not affected by the breach.
#Symbiosis #BitcoinBridge #CryptoHack #DeFi
🛡️ Aave V4 Proposal: DAO to Absorb Lending Losses First
TokenLogic has introduced the "Umbrella" proposal for Aave V4 on Ethereum, designed to protect lenders from bad debt. Under this plan, the Aave DAO would be the first layer of defense, absorbing initial losses before any other funds are touched.
The proposal specifically covers WETH, USDC, and USDT within the Core liquidity Hub. The DAO is set to provide "deficit offsets" of 33 ETH, 15,000 USDC, and 15,000 USDT to cover immediate gaps if a liquidation fails to clear a borrower's debt.
Volunteer underwriters can also participate to reach targets of 800 ETH and 400,000 for each stablecoin. These participants earn extra rewards but face a 20-day cooldown period and a narrow 2-day window to withdraw their capital. Assets remain at risk of slashing during the cooldown.
#Aave #DeFi #Ethereum #CryptoNews
TokenLogic has introduced the "Umbrella" proposal for Aave V4 on Ethereum, designed to protect lenders from bad debt. Under this plan, the Aave DAO would be the first layer of defense, absorbing initial losses before any other funds are touched.
The proposal specifically covers WETH, USDC, and USDT within the Core liquidity Hub. The DAO is set to provide "deficit offsets" of 33 ETH, 15,000 USDC, and 15,000 USDT to cover immediate gaps if a liquidation fails to clear a borrower's debt.
Volunteer underwriters can also participate to reach targets of 800 ETH and 400,000 for each stablecoin. These participants earn extra rewards but face a 20-day cooldown period and a narrow 2-day window to withdraw their capital. Assets remain at risk of slashing during the cooldown.
#Aave #DeFi #Ethereum #CryptoNews
⚡ Jupiter Lend USDC Liquidity Recovers to 29 Million
Jupiter Lend's USDC withdrawal liquidity has bounced back to 29 million USDC after hitting near-zero levels yesterday. Bitquery data showed only $88.89 was available for withdrawal on Oct 30, despite $416 million owed to savers.
The latest API data confirms 29 million USDC is now withdrawable against 443 million USDC in total assets. This represents a recovery to roughly 6.6% of the total pool being available for immediate exit.
The protocol uses dynamic ceilings and relies on unlent funds to process withdrawals. When liquidity is low, depositors must wait for borrowers to repay loans or for new deposits to enter the system.
While the recovery is significant, available liquidity remains a fraction of total claims. The Jupiter team notes that sustained access depends on the balance of repayments and new inflows.
#Jupiter #Solana #USDC #DeFi
Jupiter Lend's USDC withdrawal liquidity has bounced back to 29 million USDC after hitting near-zero levels yesterday. Bitquery data showed only $88.89 was available for withdrawal on Oct 30, despite $416 million owed to savers.
The latest API data confirms 29 million USDC is now withdrawable against 443 million USDC in total assets. This represents a recovery to roughly 6.6% of the total pool being available for immediate exit.
The protocol uses dynamic ceilings and relies on unlent funds to process withdrawals. When liquidity is low, depositors must wait for borrowers to repay loans or for new deposits to enter the system.
While the recovery is significant, available liquidity remains a fraction of total claims. The Jupiter team notes that sustained access depends on the balance of repayments and new inflows.
#Jupiter #Solana #USDC #DeFi