SushiSwap, a fork of the popular Uniswap exchange and one of the latest breakouts of the DeFi craze, has undergone its fair share of scrutiny in recent days — and fairly so. The platform's token, known as Sushi, quickly came to represent 77% of the action on Uniswap as of Sept. 1, garnering more than $1.5 billion in locked value less than a week from its inception. Many have voiced suspicions regarding certain aspects of the project, however, including concerns over a $27 million developer fund controlled solely by the project's head — an anonymous personality known only as Chef …

The SushiSwap community just approved a move from Uniswap to its own native platform, which is being built as a fork of Uniswap's project. Almost 87% of the vote were in favor of the migration. Currently, there is close to $180 million worth of liquidity in the ETH/SUSHI pair on Uniswap. The SushiSwap’s total value staked has grown from zero to $1.4 billion in a matter of days. This would place the recently launched DeFi project behind Uniswap and tied with Maker and Aave. Like many other DeFi projects, it was launched with limited security audits. A review (not an …

Blockchain security firm Quantstamp has published a security review of hyped DeFi protocol SushiSwap, identifying ten issues with the platform. The good news is the issues with the Uniswap fork aren’t likely to be fatal — unlike the critical bug that took out YFI clone YAM after 48 hours. The researchers identified two medium risk, three low risk, and five informational issues with the code. Among the concerns identified were errors failing to prevent the same liquidity provider token from being added more than once — risking disruptions to reward variables; a vulnerability potentially allowing funds to be stolen from …

Blockchain gaming firm Animoca Brands will launch its new REVV token on the popular decentralized exchange Uniswap. REVV will begin trading for Ethereum (ETH) on Uniswap from September 4 at 12 pm UTC. The token’s initial price will be $0.00666. The REVV token functions as a utility token on Animoca’s crypto-powered motorsports games, including F1 Delta Time and two new forthcoming releases. Animoca’s first upcoming title is a Grand Prix motorcycle racing, or MotoGP, game that will see more details released during Q4 2020. Another title “based on a global racing franchise” will also be announced soon. REVV is “the …

Uniswap’s founder Hayden Adams is railing against SushiSwap, a five-day-old fork of Uniswap’s decentralized exchange, which has managed to attract over $1.3 billion in value locked over its short lifespan. Like most other liquidity mine launches, participants can stake their assets to earn SUSHI — the project’s token. The twist is that the assets are Uniswap pool tokens themselves, which allows yield farmers obtain SUSHI without foregoing their liquidity provider rewards. The project was launched in a seemingly preemptive move ahead of Uniswap V3, which is speculated to bring the anticipated Uniswap token with it. The announcement places heavy emphasis …

Vitalik Buterin, the co-founder of Ethereum (ETH), has again taken to Twitter to warn against naive bullishness in the decentralized finance (DeFi) sector, comparing the economics of yield farming tokens to the Federal Reserve’s money printing. Yield farming - providing liquidity to earn interest in the form of tokens - has taken the crypto community by storm and sparked the DeFi boom. However, Buterin highlighted the aggressive supply inflation of many governance tokens, saying this puts downward pressure on the prices of “coins that are getting printed nonstop to pay the liquidity providers.” Seriously, the sheer volume of coins that …

IDEX, a decentralized exchange, recently underwent a security audit by Qauntstamp prior to the release of its 2.0 mainnet. The exchange's CEO Alex Wearn emphasized the importance of security audits to Cointelegraph: Depositing funds into contracts that the authors themselves state are unaudited, and were rushed to market in a matter of weeks, is clearly a dangerous game. There have been quite a few hacks and instances of lost funds as evidence of these potential risks. Wearn was alluding to the fact that many popular DeFi projects have launch unaudited — a decision which has led to catastrophic results more …

Users of the Uniswap decentralized exchange could be at risk thanks to a new Google ad. "URGENT WARNING FOR ANYONE USING UNISWAP," crypto influencer and YouTuber, BitBoy, said in an Aug. 11 tweet. Tagging Google's Twitter accounts, he added: "Google you should be ashamed. Whoever runs GoogleAds is FAILING MISERABLY. On YouTube where scammers get ads through and now on your own platform." According to BitBoy, entering a Google search for "UniSwap" returns an advertisement link as one of the first results at times. "When you click that ad, it will take you to a site that looks JUST LIKE …

The latest DeFi token to moon is for the decentralized derivatives exchange Serum ,which surged by four figures following its launch and exchange listings. The Serum Project is a new, non-custodial DEX that launched on August 11 and its native SRM token has since surged 1500%. The Serum Project is a collaboration between centralized derivatives trading platform FTX, and Solana, a low-fee, high-speed, interoperable smart contract blockchain. Launched less than 12 hours ago at the time of writing, the token has skyrocketed from the launch price of $0.11 to more than $1.80 according to tradingview.com. A listing on Binance also …

Decentralized exchange aggregator 1inch.exchange has launched its own DEX. As part of their efforts, they promised to fix two major issues with this type of exchange — front-running and impermanent loss. Announced on Tuesday, the Mooniswap exchange is an automated market maker, or AMM, similar to Uniswap or Balancer. It has adopted a distinctly different approach from Bancor V2, which uses oracles to stay updated on market prices. Impermanent loss occurs when an asset’s price on an AMM slips compared to the going market rate on other exchanges. This intended behavior is how AMMs update prices, however their comparatively lower …

Recently, crypto traders have shown a lot of enthusiasm for decentralized exchanges, or DEXs. The enthusiasm is warranted. We’re starting to see the fruits of many years of hard work pay off with DEX trading volume and use increasing every day. In spite of this growth, the vast majority of crypto trading still takes place on centralized exchanges. DEXs offer a clear set of benefits in terms of fund security, flexible custody and transparency, so why is it that the majority of the market still shuns them in favor of centralized alternatives? We think we know the answer, and we’ve …

The Bancor project has launched a heavily upgraded version of its decentralized exchange, promising to solve what it calls “DeFi’s dirty little secret.” According to a blog post released on Friday, the contracts have been deployed to mainnet in a beta launch mode. Each pool will have its liquidity capped to $1 million until a “pool manager” permanently removes the limitation when it is confirmed safe. As Cointelegraph previously reported, the exchange mitigates the issue of impermanent loss, where liquidity providers could lose some of their money as prices for particular assets fluctuated. The solution involves a combination of incentives …