Daily Crypto NewsEDITION #337, 05 July 2022

Gem City buys out Peter Schiff's bank

Hey Moni Maker 👾

Today, the Gem City DAO decided to buy out the bank of Peter Schiff, a former bitcoin-hater. Recall that after the great Mass Adoption, Peter Schiff repented and became a bitcoin-maximalist and then started selling his banks to blockchain companies to repurpose them into farming projects.

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1) https://rift.finance/

2) https://koii.network/

Oops, this is about to get interesting. Especially take into account the fact, that our frens develop this project. Btw, Atomic.green is a platform for margin trading on DEX in EVM networks. It uses UNI V3 pools, Aurora will come soon. Ethereum, Optimism, Polygon, ZYX Network are also coming soon. What's the fun part? 

- APR is about 40% right now. And you get a profit in the asset you deposited. You put ETH, you get ETH. Put USDC - get USDC

- traders receive $ from the fees in the Uniswap pool while their positions are open

- Assets for trading are deposited directly into the Uniswap pools, not on the platform itself, as some do, so don't be so afraid  

Also, the guys have decided to flip the Odyssey! 

Well, while Arbitrum is raising Nitro, the guys have launched their competition. And today marks the start of week one. What you have to do: 

- Open a position for the equivalent of $500 in WET or USDC. 

- They're going to give you NFTs for taking part. But why they are needed - guys will tell you later :) 

- Deadline: July 11 16:00 UTC

Check out the guys' discord, so you won't miss the next weeks of the contest and DYOR the project - get in

Crema Finance is a Solana-based concentrated liquidity protocol that has temporarily suspended its operations to investigate an exploit that made them $8,780,000 poorer.

According to an update provided by the company, it all started with a ticking vulnerability. The hacker activated six flash credits from Solend Pool and used Wormhole Exchange to accumulate the stolen funds. To use the flash credit, the hacker first deployed his program on the network, which was shut down immediately after the exploit. Solend, on the other hand, was unaffected, and the funds were safe.

The attackers' addresses in Solana and Ethereum are blacklisted. The team contacted them via a message to their Ethereum address, which offered not to goat, return the dough and keep $800k for it. As usual - keep watching how this all ends.

If you're a developer, there's a way to raise the dough. NEAR announces the Web4 online hackathon, and we'll tell you what it is. 

Web4 is a framework that offers a new way to distribute dApps. Now we don't need an intermediary in the form of a web-hosting or server to create a user interface; the smart contract itself can become a website, providing easy access to the execution of blockchain functions through the browser.

The hackathon prize fund is $2,000 USN ($1,000 USN for first place and $250 each for places 2-5); all comers are welcome, both teams and individual developers. For details, registration and stuff like that, go here.

Good luck out there, bro.  

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