DeFi the System

Curated weekly editorial crypto roundups and articles by @EbullitionX. App available in the @SolanaMobile app store - Content & Streaming

[Josh Swihart 🛡 @jswihart]

https://t.co/BIQ9MmiDOI

[DeFi the System @DefiTheSystemX]

@mert Cipher or Cypher

[DeFi the System @DefiTheSystemX]

@SolanaFloor @jito_sol @solana Would not have named it with TX.

[Solana @solana]

BREAKING: @WesternUnion's @USDPT_ is live on Solana.

A federally regulated digital dollar, issued by @Anchorage Digital, integrated directly into Western Union's infrastructure across 200+ countries.

Borderless money is here.

[DeFi the System @DefiTheSystemX]

After taking April off, I'm back to writing my roundup.

https://t.co/8K8LboGjqo

[Carrot @DeFiCarrot]

1/ Carrot is shutting down

This is certainly not the outcome we wanted, but the situation with the Drift exploit, has proven to be catastrophic for our continued operations.

[DeFi the System @DefiTheSystemX]

@solflare Shhhhh. It’s still 5 billion

[mert @mert]

meta just added stablecoin payments via solana!

altitude has just launched a full platform for stablecoins and banking on solana

ramp also recently added solana support

and we have a privacy solution cooking

quietly becoming the best place for payments & stables

[vibhu @vibhu]

AAVE on @Solana, more volume than all Eth DEXes combined in the last 24 hours 😜

[DeFi the System @DefiTheSystemX]

@jerallaire @circle Is drift not DeFi?

[SolanaFloor @SolanaFloor]

NEW: @ZetaChain has reportedly been exploited, with at least $300K drained so far.

[DeFi the System @DefiTheSystemX]

@circle Poor @DriftProtocol left out in the cold while all that money went through circle.

[DeFi the System @DefiTheSystemX]

Been a long few weeks. Writing has suffered. Tax clean up, grandma moved in from a facility and now the family has Covid. Ha. I have lots to write about but no time.

[Solana @solana]

BREAKING: $AAVE from @aave is now live on Solana via @sunrisedefi

[DeFi the System @DefiTheSystemX]

Breaking news: two people already assumed to maybe be satoshi who are both dead claimed to possibly be Satoshi 🤔. So it goes. On to the next doc

[DeFi the System @DefiTheSystemX]

I’m an optimist by nature, but right now, my stance in DeFi is defensive. I’ve personally pulled positions and even debated pulling LSTs into native staked sol. Alarmists drive me nuts and not trying to be one at all. Just looking at the landscape, I’m fine holding back on some things until more security is amped up and we see what Ai is going to do as it advances to mythos, etc. North Korea is clearly on the offensive right now.

[DeFi the System @DefiTheSystemX]

Another exploit. Seriously, after the drift situation, how are teams across all protocols not triple checking their code. Bummer for all affected.

[Rhea Finance @rhea_finance]

The RHEA team is aware of an incident affecting the protocol. As a precautionary measure, we have temporarily paused the contracts while we conduct a thorough investigation.

We are working closely with key partners, stakeholders, and security experts. Protecting user positions is our immediate priority, and our team is focused on minimizing any potential impact.

RHEA team has reached out to the responsible party through on chain transaction.

https://t.co/POtzfBb2tQ

[Tether @tether]

When the industry faces challenges, Tether steps up. 🛡️

We are leading an up to $150M recovery plan alongside the @SolanaFndn to support user recovery and safely relaunch @DriftProtocol

Watch the video to see how we're protecting the community and expanding $USDT on Solana. 👇

[DeFi the System @DefiTheSystemX]

Drift says eff you $USDC and is changing to $USDT instead because @tether would support them better.

[Drift @DriftProtocol]

Today, Drift is announcing a collaboration with @tether and other partners totaling up to nearly $150 million to support our commitment to a relaunch with USDT at the center, and a path to user recovery.

These funds encompass a $100M revenue-linked credit facility, an ecosystem grant, and loans to market makers, designed to fund a dedicated user recovery pool.

Learn more 👇