Search results for Curve Finance
Crypto
Resolv USR stablecoin loses $25 million in hack due to security flaws
Resolv\'s USR stablecoin suffered a major hacking attack that led to $80 million worth of unbacked tokens being minted and about $25 million being stolen, The Block reported on March 22. The attacker deposited 100,000 USDC into a contract and obtained 50 million USR, using a 500-times mechanism. After the attack, USR fell to $0.025 on a Curve Finance pool and later rebounded to around $0.85.
Crypto
Curve Finance warns PancakeSwap over alleged code theft, says proper licensing needed
Curve Finance has alleged that PancakeSwap used its code without authorisation, Cointelegraph reported on Thursday. Curve said PancakeSwap copied the StableSwap code used for swapping stablecoins and pegged assets in its latest decentralised exchange version, PancakeSwap Infinity. Curve said PancakeSwap should go through proper licensing procedures. PancakeSwap said it would consult with Curve, and discussions are ongoing.
Crypto
Curve founder says DeFi must generate real revenue, not token incentives
Michael Egorov, founder of DeFi protocol Curve Finance, said DeFi must build business models that generate real revenue rather than relying on incentives from issuing tokens, Cointelegraph reported on Feb. 23. He said revenue should come from real economic activity and tokens without a practical role are better not issued. He added that users are reassessing risk and that news no longer moves token prices. Total value locked fell 38 percent in six months to $98 billion.
