3.022 billion aUSD were previously minted via a liquidity bridge glitch.
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3.022 billion aUSD were previously minted via a liquidity bridge glitch.
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The Acala hack saw over a billion aUSD stablecoins minted from thin air, but now community members are scratching their heads wondering how a decentralized protocol would handle the clean up.
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Acala was victorious in Polkadot’s first parachain auction, Iota announced its staking network, and Uniswap liquidity providers lose money — all coming to you in this week’s Finance Redefined.
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The upcoming Polkadot DeFi hub raised nearly $1.3 billion in its token ICO from approximately 25,000 contributors.
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Both parachains on Polkadot and DeFi functions on Acala are still undergoing heavy development.
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Polkadot’s Gavin Wood has announced a more than $770 million development fund just weeks before the network’s parachain auctions are set to go live.
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Polkadot’s canary network, Kusama, is set to see decentralized finance hub Karura become the first parachain.
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Polkadot’s vision for a sharded parachain ecosystem is moving toward becoming a reality.
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