πŸš€ Another DeFi 'Oops' Moment 🚰

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    πŸš€ Another DeFi 'Oops' Moment 🚰

    Also, Kusuma is hosting a seven-week long hackathon, do check them out!

    Hello Geckos!


    Did you manage to pick up some of those amazing under-$9k Bitcoin over the weekend? Call it a decentralized Crypto Weekend Sale!

    High ETH gas fee got you down? There is this Parisian company that have come up with this tool to offer "Transaction relay service" for transactions that may get stuck after braodcast, think of it as Ethereum's very own towing service for transactions running out of gas.


    Also, did Andreas Antanopoulous just suggested using DeFi for BTC passive income? Yes he did.


    "HODLing Bitcoin may pay off eventually, but it means one's money isn't working for them now" - He said.



    We hope you find today's CoinGecko Newsletter useful to you!

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    Hello,

    We'd like to invite you to join a seven-week online hackathon called Hackusama, hosted by Kusama Network with prizes worth $30,000 in addition to a host of extra prizes including devices for the winners from our Hackusama sponsor, Ledger.

    Kusama was founded in 2019 by Dr. Gavin Wood, founder of Polkadot and co-founder and CTO of Ethereum. Kusama is a network of specialized blockchains built using the Substrate framework and (nearly) the same codebase as Polkadot. The network is an experimental development environment for teams who want to move fast and innovate on Kusama by leveraging the rapid governance system, or to use the network to prepare for deployment on Polkadot.

    Hackusama is being launched for developers to "Build a Blockchain" or submit their wildest tools, visualizations, and ideas to the "Open Hack" category. The event will be running until August 14th and also features a series of webinars with amazing guest speakers.

    Sign up now to view the hackathon categories and start building.

    Binance completes "largest upgrade to date", claims 10x faster speed


    Binance has completed its biggest platform upgrade in two years as it's "getting the speed ready for the next crypto bull run".


    According to CZ, Binance reportedly re-wrote all code and switched the matching engine to a new programming language.

    It's said to be the biggest upgrade in two years and "in theory could handle 100x volume [than currently]"


    (Editor: would love to know what language they switched from and to)


    CoinTelegraph

    Balancer pools drained of more than $450,000


    Two multi-token pools on DeFi platform Balancer were drained of ~$450,000 on June 29.


    The attacker conducted the attack in two separate flashloan transactions by draining one liquidity pool until close to zero, and then using that pool to attack another pool and draining the ETH for cheap.


    The attacker drained 601.3 ETH, 11.36 WBTC, 22,593 LINK, and 60,915 SNX. Totalling at around $450,000 at the time of the attack.


    (Editor: Ouch!)


    TheBlockCrypto

    DeFi Platform Opyn Launches Put Options on Compound Token


    Opyn is offering a put option on COMP at the strike price of $150, which will expire on July 3. 

    A put option with a $150 strike can be bought by paying a U.S. dollar-denominated premium, currently at $1.91.


    "Opyn's put option can be used by traders who do not hold COMP but want to speculate on the DeFi token," Anton Cheng, developer at Opyn said.


    (Editors: this is for all the 🐻 out there!)


    CoinDesk

    Hard cap


    The maximum amount that an ICO will be raising. It will stop collecting any more funds when an ICO hit its hard cap.


    Learn more terms with the CoinGecko Glossary

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