Decentralized Exchange News

2022-10-28 00:34:03 SushiSwap's new Head Chef describes himself as a 'wartime CEO'

Decentralized exchange SushiSwap Head Chef Jared Grey is certainly aware that he’s got a tough grind ahead. Amid these issues, SushiSwap has largely faded out of sight. While the exchange once nearly matched main competitor Uniswap’s volumes, last month it saw just 2.2% of the activity on Uniswap. Grey, who took on the role three weeks ago — after a lengthy search and public hiring process — has joined a team marred by controversy and personal disputes. The role has been occupied by three individuals in the past, one who stole $16 million from the project’s treasury, one who was ousted by the team, and one who erupted on Twitter blaming everyone but himself. Yet Grey is optimistic that he can turn things around in the same way as a new CEO might revive a dying business.

@Uniswap_PancakeSwap Open / Comment

2022-10-26 23:40:00 Sushi DAO agrees to implement a new corporate legal structure

Sushi DAO, the community that oversees the decentralized exchange project SushiSwap, has voted in favor of a new legal structure that will create three new entities to manage the DAO and the protocol. SushiSwap’s new DAO foundation will oversee the governance duties usually carried out by a typical DAO. The Sushi DAO voted unanimously in favor of the plan. Participants with a total of 11 million voting tokens expressed their support for the new legal structure. Previous comments on the SushiSwap forum stated that the new structure was a way to compartmentalize risk across the three entities since they handle different aspects of the SushiSwap product stack.

@Uniswap_PancakeSwap Open / Comment

2022-10-25 23:40:01 Uniswap Foundation to Distribute $1.8 Million in Grants to 14 Recipients

The decentralized exchange (dex) Uniswap’s foundation, The Uniswap Foundation (UF), announced the first round of foundation grants on Wednesday. In all, $1.8 million will be distributed through 14 grants. The Uniswap Diamond project, which is being developed by GFX Labs, will receive a little bit more than $800K, according to the UF release. The first round of grants to support the decentralized finance (defi) ecosystem and advance R&D was announced by the Uniswap Foundation on September 21. The foundation will distribute $1.8 million in the form of 14 grants, with the largest amount going to the project Uniswap Diamond, according to the UF.

@Uniswap_PancakeSwap Open / Comment

2022-10-24 23:20:00 Decentralized exchange QuickSwap exploited for $220K, plans to close lending markets

The exploit took place on the Market XYZ lending market, which was the only platform compromised, according to QuickSwap. The attack had initially been linked to Qi DAO — which issues the miMatic stablecoin — by PeckShield. The security and analytics firm later attributed the attack to an exploit on QuickSwap. The DEX later confirmed that $220,000 had been exploited using flash loans, and QuickSwap lend is now set to close. An update had been promised in the early hours of Monday, but users were left waiting around 12 hours for any clarity on the issue. QuickSwap, a decentralized exchange on Polygon, was exploited for $220,000, according to the exchange.

@Uniswap_PancakeSwap Open / Comment

2022-10-24 00:02:01 DeFi Exchange in Tokens Sushi, Uniswap Plummet Amid Sideways Crypto Market

As the broader crypto market struggles to find momentum for any meaningful bull action, DeFi tokens behind SushiSwap, Uniswap, and Synthetix have been hit hard over the past day, posting losses of more than 7%.SUSHI, the governance and staking token behind the eponymous decentralized exchange (DEX), has plunged as much as 9.7% over the past 24 hours.The token is now trading at $1.30, falling from yesterday's high of $1.45, according to data from CoinGecko.The latest price action comes less than 48 hours after the Sushi app integrated a fiat on-ramp solution developed by ConsenSys-backed Transak, which claims to allow users to buy more than 130 cryptocurrencies directly from the exchange.

@Uniswap_PancakeSwap Open / Comment

2022-10-23 00:10:01 DeFi Exchange Mango Markets Will Soon Start Refunding Users for $114M Exploit

Mango Markets, the decentralized crypto exchange (DEX) that suffered an exploit earlier this month, will soon start refunding users for the $114 million exploit.The DEX had earlier said that its decentralized autonomous organization (DAO), entities that are owned and governed by their members without any central leadership, would vote on how to refund users."The program for depositors to recover funds is in audit and should be ready to go by tomorrow morning. Much thanks to all the Mango contributors working tirelessly to make this happen," Mango Labs co-founder Daffy Durairaj said in a tweet.

@Uniswap_PancakeSwap Open / Comment

2022-10-21 23:52:01 Binance Denies Allegations It Intends to Use Users' Uniswap Tokens for Voting

Crypto exchange Binance denied allegations of misusing its users’ token holdings to exercise voting power on the Uniswap decentralized autonomous organization (DAO).“Binance doesn’t vote with user’s tokens. In this case, there has been a misunderstanding of what happened during the transfer of a large balance of UNI (around 4.6 million) between wallets,” a Binance spokesperson told CoinDesk this morning.“We’re currently in discussions to improve the process to prevent any further misunderstandings from happening again,” they added. Separately, Binance pointed out in a Thursday tweet that its wallet had never voted on any Uniswap governance proposal.

@Uniswap_PancakeSwap Open / Comment

2022-10-20 20:49:01 PancakeSwap wants to deploy mainnet on Aptos

Developers cite business development opportunities, protocol expansion and the technical capabilities of the Aptos chain as the main reasons for the proposal.On Oct. 20, developers of the popular decentralized exchange, or DEX, PancakeSwap proposed deploying its mainnet on layer-1 blockchain Aptos. Currently, PancakeSwap is based on BNB Chain and processes about $47 million worth of trading volume each day. However, its developers have introduced the DEX's first multichain migration proposal after the launch of Aptos on October 17.

@Uniswap_PancakeSwap Open / Comment

2022-10-19 22:30:23 Binance now second-largest entity by voting power in Uniswap DAO

Crypto exchange Binance has made a move toward taking part in the governance process of the decentralized exchange Uniswap, making it the second-largest entity by voting power in the Uniswap DAO. Binance delegated 13.2 million UNI tokens on Oct. 18 to its own wallet, meaning the exchange. Binance now has 5.9% of the voting power, calculated as a percentage of tokens delegated to the exchange out of all delegated tokens. It sits behind crypto VC firm a16z, which has 6.7% of the vote. The amount Binance has delegated represents 1.3% of the total supply of UNI. This is above the 0.25% threshold for proposing governance votes but below the 4% quorum required for votes to pass.

@Uniswap_PancakeSwap Open / Comment

2022-10-18 21:50:06 SushiSwap New CEO accused of Scamming and other Crimes

The newly appointed CEO of SushiSwap Jared Grey has been accused of scamming and other crimes. The allegation against Grey includes stealing the assets of his own users, copyright infringements, and sexually assaulting a horse. Upon the news, Sushi has seen a 12% price drop at the time of writing. Grey was appointed earlier this month and is under fire for stealing funds from the crypto community in 2019 from a project called ALQO. As per the accusation, he introduced the wallet for ALQO called Liberio which was used to steal 70% of the total supply. In 2020, he was allegedly relabeled ALQO to EONS and moved from its own chain to Ethereum to cover the tracks. Other than that, he has been accused of charging fees for an exchange ‘Bitfineon’ that was never launched.

@Uniswap_PancakeSwap Open / Comment