#DeFi
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Liquity USD (LUSD): A DeFi Stablecoin Review
Liquity USD, or LUSD, is a stablecoin that maintains a 1:1 peg with the US dollar. It's used by the Liquity lending protocol as the primary asset for issuing loans backed by Ethereum (ETH). When LUSD is repaid, the loan is resolved, and the ETH collateral is returned to the owner at its nominal value. 
Tether CTO:
"The launch of PayPal stablecoin doesn’t impact Tether as the firm does not serve U.S. users. If PYUSD launches in international markets, it could have a positive impact on the crypto industry and potentially erode revenues for payment giants like MasterCard and Visa."
Co-founder of zkLend:
"PayPal will indeed bolster the perception and acceptance of cryptocurrencies, but it can lead to a diminished market share for decentralized stablecoins, threatening the very principles of decentralization that underpin the crypto space."
Analysts at JPMorgan:
"This could boost Ethereum activity and enhance Ethereum’s network utility as a stablecoin/DeFi platform. PYUSD could fill the void left by the $20 billion shrinkage of Binance's BUSD stablecoin, which was forced to shut down by U.S. regulators earlier this year."
Co-founder of Sei Network:
"The gas fees of using PYUSD will be ridiculous, which will disincentivize its usage. To help make the user experience better, PayPal will either need to subsidize transaction costs or will need to help support PYUSD on other networks with cheaper gas fees."
It's worth noting that PayPal currently serves 435 million customers globally. 
A Twitter debate has erupted, speculating that Sam Bankman-Fried (SBF) might be involved with the BALD memcoin rugpull.
Blockchain analysts delved into the developer’s on-chain history and discovered a connection between the wallet address deploying the BALD token and ETH funding from wallets linked to FTX and Alameda Research.
An anonymous DeFi commentator suggested that this link might indicate SBF’s attempt to recover some losses.
Data editors found that the same wallet address had made numerous transfers (400) to blacklisted USDT addresses and appeared to have strong connections with Alameda Research. The Ankr Project and ANKR Token: Features and Prospects
Ankr is a trailblazing platform equipped with its proprietary blockchain, developed specifically for node hosting and as a supplier of Web3 infrastructure. It provides developers with the essential tools and resources they need to create decentralized apps and networks. 
This platform, crafted to stabilize liquidity pools within the Curve DeFi protocol, has fallen victim to a hacker who made off with 1700 ETH, a haul worth $3.2 million.
The culprit leveraged a re-entrancy vulnerability and manipulated a malfunctioning price oracle to achieve this.
The Conic Finance team has disclosed that this particular exploit is solely connected to the ETH Omnipool. 
Quantstamp, a blockchain security firm, has introduced the Economic Exploit Analysis tool designed to detect potential flash loan attack vulnerabilities in smart contracts.
While it can analyze multiple contracts from various DeFi protocols, some manual adjustments are needed for specific protocols.
Flash loan attacks, which have drained about $200 million in the Euler Finance exploit alone, are a growing concern in DeFi. 
The Exactly Protocol has suffered a hacking attack. Running on the Optimism blockchain, this lending DeFi platform was targeted by malefactors who stole over 4300 ETH, totaling approximately $7.3 million.
Both BlockSec and Beosin security agencies have corroborated the theft. The hackers reportedly found and exploited a weak point in the platform's smart contracts, although the finer details are still under wraps.
UPD: The team at Exactly Protocol would declare a $700,000 reward for any leads on the hacker, should they not receive a response from the malefactor by the end of August 22nd.
"You can return the funds, minus a 10% fee to you, without worries about us coming after you," the Exactly team conveyed in their message. 
The Snapshot platform has recently showcased a proposal: allocate 1 million FRAX tokens from the treasury and use them to buy CRV tokens.
This, according to the initiative's creator, will fortify the community's foothold in DeFi for years to come and enhance liquidity for pairs involving FRAX. Frax Finance: A Self-Sufficient DeFi Ecosystem
Frax Finance stands out as a DeFi platform that hosts its own decentralized stablecoins, an automated market maker, a lending platform, a cross-chain bridge, and native tokens. By the close of 2023, this ensemble will incorporate an L2 blockchain. For the time being, the Frax protocol is running on Ethereum. 
What Is an Automated Market Maker (AMM)?
Think of an automated market maker as a critical software or protocol, the absence of which would render the operation of decentralized cryptocurrency exchanges virtually impossible. AMMs serve the crucial role of offering automatic, round-the-clock liquidity provisions on Decentralized Exchanges (DEXs) and various DeFi platforms, catering to a diverse array of cryptocurrency pairs. A Deep Dive into the DeFi Project DeXe and Its Native Token
DeXe has emerged as a cryptocurrency protocol with a primary focus on investment management and the facilitation of decentralized autonomous organizations. Its core objective is to enhance the overall functionality of DAOs and their operations. Kyber Network Crystal and KNC Token: A Comprehensive Review
Kyber Network Crystal acts as a cross-chain liquidity aggregator, facilitating fast swap transactions for DeFi. Thanks to the Kyber Network, users of dApps, DEX, and DeFi solutions can tap into a multitude of liquidity pools to exchange assets with minimal fees. 
The U.S. Senate is considering a new bill aimed at imposing strict anti-money laundering (AML) rules on decentralized finance (DeFi) protocols.
The Crypto-Asset National Security Enhancement Act of 2023 targets entities controlling DeFi protocols or providing their applications. It requires customer vetting, AML programs, and reports of suspicious activities.
In absence of a controlling entity, anyone investing over $25 million in a protocol's development would be responsible. 