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UniSwap Heating up BIG TIME! Is this the end of IEOs? New DeFi Projects fundraising on Uniswap.


Uniswap charting major growth plans with V2, becoming the defacto industry leader.


Dharma, the Coinbase-backed DeFi startup has decided to add token-exchange protocol Uniswap as its latest in-app offering. Dharma users will now be able to trade any ERC20 token for another in addition to earning interest on Ethereum stablecoins. 

Uniswap is one of the most popular DeFi applications on Ethereum giving Ethereum users the ability to swap ETH and ERC20 tokens like MTA or YFI with any other Ethereum based token. It currently possesses $43 million of liquidity assets locked into the protocol. Instead of using the traditional order book model, Uniswap collates tokens into smart contracts allowing users to trade against the liquidity pools provided. Anyone on Uniswap can swap tokens or even add tokens to a pool to earn fees.

The Uniswap V2 was launched as the second iteration of Uniswap including several new features and upgrades. In the new version, any ERC20 token can be directly pooled with any other ERC20 Token. Wrapped Ether or WETH is used instead of native ETH in the core contracts. In the earlier version, all liquidity pools are between single ERC20 Token and ETH. 


The introduction of ERC20 token/ERC20 token pools in V2 will be useful for liquidity providers who have the potential to maintain a diverse ERC20 Token denominational position without the need to have an exposure to ETH. Some added features of V2 are:

Price Oracles

Uniswap V2 has implemented a novel functionality that allows for a highly decentralized and a manipulation-resistant on-chain price feed. This is essentially achieved by measuring prices and collating historical data to its potential allowing smart contracts to generate gas-efficient Uniswap prices across any timeline.

Flash Swaps

The V2 flash swaps allow the users to withdraw as much ERC20 token as wanted with no upfront costs. The withdrawals can be used for any purpose provided that at the end of transaction execution users pay for all ERC20 tokens withdrawn or pay a percentage of ERC20 tokens while returning the rest or finally opting for returning all ERC20 tokens withdrawn.


Technical upgrades

Uniswap V2 has also included some significant changes and improvements as given below:

  • Uniswap V2 efficiently takes care of ‘missing return’ ERC20 tokens that were not on the earlier version.
  • Smart contracts are now written in solidity rather than Vyper
  • Mutex to strengthen re-entrancy protection adding more support for ERC777 with other ERC20 non-standard tokens.
  • Error messages have become more figurative, meaning that they have become more descriptive. 

The protocol upgrade has been one of the best things with Uniswap this year. It has been trending over the past few days with sharp rises in trade volumes. A majority of the trade now happening on its new version, with a 24-hour trading volume of over USD 125 M on the upgraded protocol compared to 3.5 M on V1. 

Check out the trading volume over the last 2 months:

Source: CoinGecko

With Uniswap V2 reaching such high volumes, it is also being compared to exchange giants like Coinbase and Kraken. 


DEXs are permanently popular but despite their popularity, many have warned of the dangers of using decentralized exchanges like Uniswap considering that it is becoming vulnerable to becoming look-alikes of popular tokens. Uniswap has many imposter tokens because there is an almost zero barrier to entry and any ERC-20 token can be traced on it. 

Despite these claims, Uniswap is the largest DEX over the course of the second quarter this year even before V2 took off.

Uniswap is the perfect candidate for exploring the on-chain cash flows. Even without any additional growth, it has the potential to generate more than $5M + in liquidity provider fees this year. is #1 in DeFi News. Check back in soon to find out the latest in DeFi News.

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Harvest Finance Hack Explained. Here’s how it happened.

harvest finance hack

Unscrambling the Harvest Finance hack and its aftermath

Harvest Finance, the Decentralized finance protocol was hacked for a staggering $24 million. The attack was a reminder to the crypto community that DeFi has sure risen to prominence but it has its own share of loopholes, and it is this that the attackers take advantage of. 

Harvest Finance attack details

The attacker directly attacks the protocol’s liquidity pools leading the arbitrage attack using a large flash loan – a type of uncollateralized loan. The attacker later returned $2.5 million but in a mere seven-minute act, the entire hack was complete, leaving the protocol stakeholders bewildered. 

In further addition to the details of the hack, the protocol revealed that the hacker manipulated prices on one money lego which is the Curve Y pool. This was done to drain another money lego farm USDT (fUSDT), farm USDC(fUSDC) multiple times.

The attacker then converted the funds to renBTC and later excited to Bitcoin. renBTC is not synthetic because it does not rely on any liquidation mechanism and it is certainly not the price of Bitcoin on Ethereum. It is a one-to-one representation of Bitcoin on Ethereum which can be redeemed for BTC at any time and in any amount. 

harvest finance hack

The native token of Harvest Finance, FARM fell 54% to $101.79 when the news of the hack came forward. Following the attack, the amount of money that was locked in the protocol plummeted from $1 billion to $575 Million On October 25th. The investors were so fretful that they pulled their deposits back. 

Harvest Finance acted accordingly and withdrew all the funds from the shared pools almost immediately after it had completed a fine evaluation of the attack. It began with reconstructing the processes which included DAI, USDC, USDT, TUSD as well as WBTC and renBTC. The funds are currently present in the vaults safely so that they are not exposed to further market manipulation. The hack did not involve DAI, TUSD, WBTC, and renBTC, and the depositors in these vaults were not affected.

How was the hack carried out?

The mechanics of the protocol has allowed for the execution of such an attack. Let us see how:

The investment strategies used by Harvest involves calculating the real-time value of assets that are invested in the base real-time protocols. The value of the assets is then used by the vaults to calculate the number of shares to be used to the user depositing the funds. The same value of the assets is also used when the users take out funds from the vaults.

Payout is then calculated upon the user exit. What also needs to be noticed here is that the assets inside some of the vaults are deposited into shared pools of underlying DeFi protocols. These are subject to market effects such as impermanent loss, arbitrage, and slippage. This means that its value can be manipulated through larger volumes of market trades. 

The attacker knew this well and had exploited the impact of the impermanent loss of USDC and USDT inside the Y Pool of by manipulating the asset value to deposit funds into the vaults and obtain the shares for a beneficial price. 

The aftermath of the Harvest Finance Hack

Harvest Finance’s Twitter account has been buzzing with messages and activity. The protocol has taken full responsibility for the engineering attack and has ensured that in the future such attacks will be countered and mitigated. The protocol has made it clear that formatting a disaster management plan to assist those who are affected will be the top priority for the protocol. 

The protocol is investing its resources to catch hold of the scammers and has already provided a list of Bitcoin addresses of the hacker where it believes that the stolen funds may have moved. It also had taken immediate action by asking prominent exchanges like Binance, Coinbase, and Huobi to block the attacker’s addresses. It further said that there is:

“A significant amount of personally identifiable information on the attacker, who is well-known in the crypto community.” Not willing to dox the cyber-thief, Harvest Finance is now offering a $100,000 bounty “for the first person or team to reach out to the attacker”.

Harvest further tweeted that the $2.5 million returned by the hacker will be distributed to the affected depositors on a pro-rata basis using a snapshot. The attack on Harvest comes only six weeks after the attacker escaped with $8.1 million in Bitcoin from another DeFi protocol BZX, however, BZX managed to recover the funds. 

harvest finance hack is #1 in DeFi News. Check back in soon to find out the latest in DeFi News.

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CORE Token ( Achieves Highest Volume on Uniswap, YFI comparisons already circulating


CORE Token (CORE) Traded over 90 million in volume on Uniswap on September 28, 2020.

CORE is a cryptocurrency that has been conceptualized to apply strategies with the autonomy enjoyed by decentralized projects. The CORE project has been designed to execute these profit-generating strategies but slightly different from the present ways. In the prevailing systems, autonomous strategy executing platforms either a team or a single core developer understands and takes care of how locked funds will be used to generate ROI. But, as the fund grows, it also paces the way for fallacious incentives and also makes it even more vulnerable for mistakes to be created. But CORE defies this practice and has chosen for a mechanism with decentralized governance. 

The total CORE token supply is finite and there will only ever be 10,000 CORE.

The token holders of CORE will now be in a position to tender strategy contracts. They can also vote on whatever is live so that the autonomous strategy execution can be decentralized.

One extremely novel feature of CORE: Out of the profits that will be generated, 5% will be utilized to auto-market buy the CORE token. 

CORE Token 101

In a recent first, has followed the hottest trends and beat Coingecko and CoinMarketCap by listing $CORE first here.

CORE token is now looking at infusing more and more value in its system and for that CORE smart contracts deploy exchangeable strategies that farm coins inside the pools. This apparently converts into great incentives awarded to those who decide to farm CORE with coins other than CORE/ETH LP.

The yield so gained from staked funds will be routed towards the market to purchase CORE enhancing the relationship for both the parties. CORE holders will massively gain from the different yield-gaining activities on the CORE smart contracts. When the farmers decide to sell, the transfer fees on the sale proceeds of the CORE tokens are given back to the farming pools pointing out to the fact that buying pressure will be more intense than the selling pressure.

CORE is based on sound economics

Usually, it is assu med that when more pools are added in the system it could possibly debase the rewards for the pool that people are currently farming. In the CORE model, this gets significantly reduced by the nature of CORE fees paid out by the additional farming pools. The rewards get diluted but the CORE in their possession will increase in value as the market responds positively. 

Deflationary farming

Now, it is a known process that, in order to keep farming, users have to mint more and more coins. As a result, the fundamental value of the underlying token asset loses in value because of excessive inflationary conditions.

There are many projects in the DeFi ecosystem that faces this and CORE token tackles this issue in its roots by introducing something called deflationary farming. Deflationary farming in this case comprises two major steps that are charging a fee on token transfer and users earning the fee by farming. This means that those who are holding tokens with the ability to farm can do so without worrying much about inflation. 

The transfers will be approved by the CORE transfers smart contract. It will coagulate the vulnerabilities further by blocking all withdrawals from Uniswap. In a way, this will be hugely beneficial for holders as it will endow them with stability and more depth into it.

You get fees by staking in the Core Vault. For every CORE transfer, there is a fee, and when CORE is sold on Uniswap there is a 1% fee that is distributed to farmers.

Strength in Community

For CORE, the most important link is its community governance. In this system community is everything. It decides everything that will happen on the system right from deciding developer fees, to adding new pools, from deciding about fee approver contract to disabling pools in the CORE transfer contract. In the beginning, CORE will launch with a 1% fee on transfers for farming and 7% of it will be used as a developer fee.

The remaining 93% will eventually get directly transferred to the farmers in the process. For instance, if the holders want the COREVault to have a YFI pool, then the ratio of the fees will be set in accordance with how much can be distributed. Also, when people will be able to withdraw YFI tokens from it also will be a determining factor. This way the CORE holders will be highly incentivized to hold more YFI tokens.

Official website:
CORE Telegram Channe:l
LiveCoinWatch :
Uniswap Link :

$CORE still holds the current highest volume on Uniswap, as of 9/28/20 12:30pm PST.

core token
Uniswap link to CORE Token is #1 in DeFi News. Check back in soon to find out the latest in DeFi News.

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NFTs Crypto: Just the Beginning

nfts crypto

NFTs Crypto: Understanding the growth story

Things are heating up with NFTs in DeFi and crypto space, and fast! Non-fungible token sales have amassed close to $100 million worth of lifetime trade volume, according to Bankless. The data that was taken from a noted web portal, gives a comprehensive view of the NFT ecosystem. We believe that the growing adoption of NFTs in the ecosystem partnered with user understanding of the same has the potential to become a trillion-dollar market in the future. 

From the first brush, anyone could perceive non-fungible tokens (NFTs) as crypto-collectibles like crypto kitties but when we dig deeper, non-fungible tokens are an entirely new class of digital assets. For the very first time, there is a technology that allows us to create an incontrovertible new set of digital assets that is easily maintainable without any authority or centralized entity other than the blockchain itself. 

Understanding Non-fungible tokens

Blockchain has this innate ability to create scarce digital assets, the ownership of which is maintained by a decentralized network of miners. But, in great detail, these assets are fungible meaning they can be replaced interchangeably by another of the same. For instance, Your bitcoin will be the same as my bitcoin. So they are mutually interchangeable and are pretty popular as mediums of exchange or as a store of value. But they are not unique!

So, now a group of entrepreneurs, who employ blockchain technology will allow for this uniqueness to rise with what we call non-fungible tokens or assets which are not interchangeable. So primarily they are assets that are mutually not substitutable and cannot be interchanged. 

Fungibility is very important for assets to maintain their reliability but the fungibility factor also makes it vulnerable and susceptible to losses due to fluctuation in prices. This is the only reason that the concept of non-fungible tokens has risen to prominence. NFT’s are digital assets of the exclusive nature because each of them is different from the other. Every NFT secures peerless metadata that paves the way for its exclusive entry on the blockchain. NFTs cannot be interchanged on the same blockchain.

NFTs: A Rapid Rise

The trials for the creation of a non-fungible token began around 2013. The first example we can highlight was that of the Color Coin created upon the Bitcoin Network. But the one which actually got noticed in the crypto world was the emergence of ERC721. The features were slightly different and it could track the movements and ownership features of individual coins making it non-fungible. The first successful attempt at its application was called Crypto Kitties. The most exorbitant form of it was traded for $172,625 in 2017.

It has found unique and valuable use cases and implementation in several industries apart from the crypto industry like gaming, art pieces (also crypto-based), and likewise. Over the years the use of fungible crypto has yielded positive results and has firmly established its significance in the digital ecosystem. But NFT’s signify the huge ability to tokenize physical assets while holding on to its unique properties. With its rise, it has proven that it will not cause any hindrance to the existing format in the cryptocurrency ecosystem.

The idea called NFT has gathered a lot of steam especially since the verifiable digital scarcity concept was first introduced. Even this year the popularity of NFTs has jumped considerably and there is a constant flow of funds in the concept itself. Data from nonfungible shows that after the first week of September, for a period of 7 days, there were 9353 sales totaling $988,649 in NFT trade volume. The average US dollar price for a single NFT was $105 that particular week!

Project history chart from Nonfungible

The virtual land investor @Dclblogger talked about how the metaverse was growing. He also tweeted about 25 industries that are being disrupted by the non-fungible token ecosystem. The three biggest players in the NFT arena include Sorarem, Cryptopunks and Superrare. 

Holistically speaking, the NFT ecosystem continues to grow and 2020 has displayed that people are realizing that NFTS can represent anything in the virtual world and tethered to the real world with concepts. Crypto creators are generating a whole new atmosphere for NFT collectibles, rare art pieces in-game items, and large virtual worlds. The growth will show no signs of abatement anytime soon! is #1 in DeFi News. Check back in soon to find out the latest in DeFi News.

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