Shiba Inus marketing strategist Lucie has issued a stern warning and offered instructions to reduce the risk of phishing attacks when using Shibarium.
Shibarium went live on August 16 as an Ethereum layer two scaling solution and can be accessed by anyone for development, just like other EVM blockchains.
Shiba Inu’s marketing strategist Lucie has cautioned the public against possible phishing attacks on the new Shibarium blockchain, giving instructions to keep safe.
Shibarium blockchain goes live
Shibarium blockchain has long been a long-awaited blockchain for the Shiba Inu ecosystem. As such, it is expected that attacks could be carried out on the blockchain against its users.
The meme coin’s marketing strategist Lucie has cautioned users against possible phishing attacks, asking them to remain vigilant and exercise caution when interacting with projects on the network. Like BNB Chain and Ethereum blockchains, Shibarium allows for the development and deployment of any project that could be used as an avenue for swindling money to un-detecting users.
In a Twitter post, Lucies stated that though the network’s openness is great, it also opens routes for bad actors, who could even use the Shiba and Shibarium names in their scammy projects.
“Similar to Polygon, Ethereum, and other blockchains, Shibarium is open for anyone to build on. Regrettably, this also allows bad actors to develop scam dApps and rug-pull tokens, among other things. The mere incorporation of the term “Shibarium” or “Shib” in their names holds no credibility.”
Lucie explained to users that they ought to prioritize development over all else.
“Prioritize research: delve into their Telegram and Discord channels, gauge the community’s atmosphere, scrutinize their social media posts, and check Etherscan. Prioritizing your safety is paramount.”
Keep watching Fintech Express for more crypto and fintech-related developments.
Microsoft has announced a partnership with Aptos labs for AI solutions, driving Aptos tokens’ prices high.
Microsoft has been pushing its limits to stay competitive amid the rise of AI among tech companies like Meta and OpenAI.
Aptos Labs, started by former Facebook employees, has partnered with Microsoft to develop AI solutions. Within minutes of announcing the deal, the Aptos token surged about 15% to around $7.70.
Aptos Labs to be Microsoft’s partner in new AI adventure
In this arrangement, Aptos Labs will leverage Microsofts infrastructure to deploy new AI solutions encompassing blockchain technology. One of the solutions that Aptos Labs is eyeing is an AI chatbot called Aptos Assistant, which will be able to answer any question regarding the Aptos ecosystem and provide resources for developers who want to build on the network.
In the press release, Aptos Labs indicated that it was also integrating Move, its native programming language, onto GitHub’s copilot service. This AI programming tool will support developers in their building efforts.
Regarding the arrangement, Microsoft’s General Manager of AI and emerging technologies said they aim to democratize blockchain technology to enable users to board onto Web 3 seamlessly.
“By fusing Aptos Labs’ technology with the Microsoft Azure Open AI Service capabilities, we aim to democratize the use of blockchain enabling users to seamlessly onboard to Web3 and innovators to develop new exciting decentralized applications using AI.”
Microsoft has been pushing its limits in developing AI tools, mostly via partnerships with other companies. It recently struck a partnership deal with OpenAI to incorporate the widely known ChatGPT AI Bot into its search engine, Bing. The deal was done to keep the company in touch with emerging companies before it releases its AI products.
Now, it has struck a deal with Aptos Labs to push its presence in both the AI and blockchain industries, hoping that it would help to onboard even more users to emerging technologies as the hype for both blockchain and AI industries keep growing.
Keep watching Fintech Express for more updates on this and other fintech-related developments.
DeFi protocols have held up strongly in 2023 despite a crypto bear run due to a spike in unfavorable regulation for centralized counterparts.
PancakeSwap holds the highest Total Value Locked on the BNB Chain at a staggering $1.8B, accounting for 34.8% of the total.
DeFi is holding up well in 2023 despite the crypto market being in a bear cycle. The total value locked in defi protocols across all networks is around $41.3B, with BNB Chain holding number 3 on the chains with the highest TVL. Here are the top 10 DeFi protocols on the BNB Chain network by TVL.
The top 10 DeFi protocols by TVL on BNB Chain
The BNB Chain has been a home for defi protocols for long as developers want to stay away from Ethereum’s exorbitant gas fees and congestion that is usual during bull cycles. This network currently has around 3.19 billion dollars in TVL, which accounts for 7.27% of the total.
Here are the top 10 DeFi protocols by TVL on BNB Chain:
PancakeSwap DEX $1.8B
Venus lending protocol $1.28B
Radiant Capital lending protocol $191M
CoinWind yield harvesting protocol $171M
PinkSale Launchpad protocol $150M
BiSwap DEX $114M
Alpaca Finance Yield farming protocol $110M
Stargate Bridge $73M
UNCX Network launchpad protocol $65.8M
Tranchess Yield Farming protocol $55.5M
Keep watching Fintech Express for more updates on crypto markets and other fintech-related developments.
Tron network founder Justin Sun has introduced a stUSDT liquidity pool on Curve Finance to save the DeFi protocol from impending financial doom.
Curve Finance has been losing the value of its tokens due to a Sunday exploit that puts the founder’s $168M loan on the verge of liquidation which has created a bearish sentiment over CRV tokens.
Justin Sun has introduced a stUSDT liquidity pool on Curve Finance to help prop back the DeFi protocol’s balances to normal after a Sunday exploit pushed the prices of CRV tokens down.
Justin Sun starts a liquidity pool to save Curve Finance
A Tuesday tweet from Justin Sun indicates that the Tron blockchain network founder was in to help Curve Finance to sail back to normalcy. Curve suffered a major hack on Sunday that could doom the DeFi sector if Curve collapses.
Blockchain data confirms that Sun bought about 5 million CRV tokens from a “Curve.fi Founder” wallet at an average of $0.4 in an OTC transaction. The whole amounts to about $2.3 million. This development comes as he tries to lend his hand to save Egarov Curve.Finance founder from an almost imminent liquidation of a massive $168M loan that could be gone at a $0.37 price level.
At the time of writing, the price of CRV tokens was $0.58, which is still far from the liquidation price but unsafe. Following Justin Sun’s OTC purchase, other DeFi players stepped in to pick up the discounted CRV tokens. Machi Big Brother bought 3.57 million tokens DeFi protocol, and DWF Labs bought 2.5M Curve tokens each.
Egorov managed to sell $15.8 million worth of CRV tokens via OTC. The tweet from Justin Sun read:
“Excited to assist Curve!,” “As steadfast partners, we remain committed to providing support whenever needed. Our joint efforts will introduce an stusdt pool on Curve, amplifying user benefits. Together, we aim to empower the community and forge decentralized finance.”
Keep watching Fintech Express for more updates on this and other fintech-related developments.
