DeFi Daily Digest 2022-08-05: Voyager Returning User Fund. Uniswap Foundation Asking For Fund.
While rejecting FTX, Voyager is posed to return $270 million in customer cash. Uniswap Foundation is asking $74M from the Uniswap community.
Regulation
CEX
Voyager got bankruptcy court approval to return $270 million to customers. Last week, the firm rejected FTX’s proposal to purchase its assets and offer early liquidity to its customers.
DEX
Uniswap proposed to create the Uniswap Foundation.
Scope: The UF, the first Foundation of a major protocol to go through the community governance process, will support the Protocol’s decentralized growth, reinvigorate governance, and serve as a Protocol advocate.
Team: Devin Walsh will serve as the Executive Director, Ken Ng will serve as Head of Operations, and they will build out a team of 12.
Budget: To fund these efforts, we are requesting: 1) A $14M Operating budget to cover a full team for 3 years; 2) A $60M expanded Uniswap Grants Program (UGP) budget to cover 3+ years; 3) $74M was required in total, which will be broken into two disbursements, with a first disbursement of $20M.
Governance Participation: We are also requesting 2.5M UNI to participate in governance, primarily through delegation. Through the usage of a new smart contract primitive The Franchiser, this UNI will be revocable by the DAO at any time, and cannot be used for any purpose outside of governance.
Safety
Blockchain software engineer Stephen Lacy: Currently over 35k repositories on GitHub are infected by malware attacks related to the Solana hack. So far, the infection was found in projects including crypto, golang, python, js, bash, docker, k8s.
Mining
Investment
Brevan Howard Asset Management has pulled off the largest crypto hedge fund launch yet, raising more than $1 billion from institutional investors.
Brevan Howard is a European hedge fund management company with an $18.4 billion AUM.
Stablecoin
Quench Your Craving Around MEV in the Market
What were the top arbitrages of yesterday?
Which sandwich attacks made the biggest victim?
Which tokens and liquidity pools provide opportunities for searchers?
What’s the overall trend regarding MEV in the market?
To help you answer these questions, we have highlighted key takeaways about yesterday’s arbitrage and frontrunning in our Arbitrage Daily Report and Sandwich Arbitrages Daily Report.
The top 🥪 attack was launched at midnight 🌃, squeezing $28,074 from a 😢 who owned $1.1M.
Similar to the top 🥪 attacks we have analyzed previously, this 🥪 also took advantage of 💰 borrowed from AAVE to raise token prices. In this 🥪 attack, the #MEV 🤖 used borrowed $USDC to pull $WETH prices on Uni V3.
To ensure that the 🥪 attack could be successfully conducted, #MEV 🤖 paid an astonishing 10.18 $WETH to the miner 🔨.
The victim of this 🥪, the Token Millionaire, has encountered 🥪 attacks for two consecutive days, losing over $31K.
For the attacker, it had a bumper harvest yesterday, as all the top 3 🥪s on the leaderboard were conducted by this #MEV 🤖. In all, the 🤖 made $21K from 102 🥪s yesterday.
With a 222x ROI, this #arbitrage became the top transaction of the day. Paying $66 worth $WETH for the gas fee, this Flash boy #MEV 🤖 made 14,651 $USDC through exchanging $USDT and $USDC on a Uni V3 and a Balance Vault.
With the help of the profitable spatial #arbitrage above, the overall profit of this type has doubled.
$LDO was the hottest token on #Ethereum, whose trading volume changed by 556 times. Most transactions using $LDO are 🥪s.
#BNBChain users were apparently more active yesterday, as all the #MEV records went green.
Tempted by the yummy 🍰? Hot tokens on #BSC: $Cake. Top transaction: #MEV 🤖 made $322 from 34 cents.
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