DeFi Daily Digest 2022-07-28: Court Fight on $840M between Celsius and Tether. And the Fee Switch Fight Between LP and $UNI holder on Uniswap.
If Celsius successfully reclaims the loan liquidations, Tether would be forced to return its once recovered $840 assets.
By the way, do not forget your DeFi Arbitrage Daily Report and Sandwich Arbitrages Daily Report today.
Market
Stablecoin & Lending
Before Celsius's bankruptcy, Tether had already recouped an $840mn loan to Celsius by selling bitcoin Celsius pledged as collateral.
Celsius is likely to recover loan liquidations completed in the 90 days before filing, according to its law firm Kirkland & Ellis.
Safety
Developers behind blockchain network Harmony proposed issuing ONE tokens to cover $100M losses from the hack of its Horizon bridge product in June.
CEX & DEX
Some facts about Uniswap's "fee switch".
Currently, the trading fees on Uniswap is 0.3% which goes to LPs. If the "fee switch" is flipped on, 0.25% would go to LPs and 0.05% would go to $UNI holders.
It had not yet reached any conclusions.
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