Read the latest edition of our DeFi newsletter for the full breakdown of the week's biggest stories, including Wonderland, Wormhole, and more. Written by tomfarrencrypto
This article represents a conspectus of the full email newsletter. For the full edition, sign up via the box below.Following the revelatory identification of previously anonymous QuadrigaCX co-founder Michael Patryn as the founder of DeFi protocol Wonderland — known on social media as @0xSifu — a subsequent community vote decided upon the permanent closure of Wonderland for outstanding security concerns.
Having been made aware of Sifu’s real identity one month prior to this week’s announcement, Daniele Sestagalli, co-founder of Wonderland and stablecoin protocol Abracadabra,to the community members: “Do we wind down or continue to fight for the aspect of an investment DAO being a revolutionary new organization?” Sestagalli stated his personal preference to be the latter, to fight.
From a technical perspective on Jan. 15, Wonderland recorded a near all-time high of $776.64 million in total value locked, or TVL. However, as a consequence of themarking an 89.9% demise.In true Web3 style, the decision to “Wind down Wonderland and give the treasury back to its holders” was put to a community snapshot vote. The two-day governance participation resulted in a split decision, an inconclusive majority with 116,000 TIME tokens allocated to the decision of no, and 95,000 to yes.
In response to this, co-founder Sestagalli assessed that “the duty of the team is to enact the will of the token holders. As the vote is so close to 50/50 there is only one path forward, it is to reimburse/unwind,”Wonderland experiment is coming to an end. It is clear from the vote that the community is divided. The core and heart of Wonderland is still the community. If we cannot find agreement on wether to continue or not, it means that we failed.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Jump Crypto Replaces $320 Million in Ethereum Taken From Wormhole Exploit – Bitcoin NewsThe following day after the DeFi hack, the Wormhole team explained that “all funds have been restored and Wormhole is back up.” Ethereum CrossChainBridges
Lire la suite »
Wormhole cryptocurrency platform hacked for $325 million after GitHub errorThe hacker likely found details of a security flaw in open-source code.
Lire la suite »
More than $320 million stolen in latest apparent crypto hackWormhole, one of the most popular bridges linking the ethereum and solana blockchains, lost about $320 million in an apparent hack Wednesday afternoon.
Lire la suite »
Solana Woes Worsen in $320 Million (120K wETH) Wormhole Bridge HackA bridge between Solana and Ethereum has been exploited for millions in the latest setback for the enterprise blockchain network.
Lire la suite »
Wormhole token bridge loses $321M in largest hack so far in 2022The Wormhole token bridge based on Solana and serving the Ethereum network experienced a significant security exploit where 120,000 wETH tokens were drained, leading the team to beg the hacker to return most of the funds.
Lire la suite »