Polygon SDK, DeFi Saver Recipes, Wild Credit Exploit

Decentralise Daily #136

May 27, 2021

📰 Decentralise Daily #136

Decentralise is the daily DeFi newsletter breaking down the latest news and developments.

DeFi (Decentralised Finance) is a revolutionary movement built on Ethereum providing open financial tools for a global audience.

The space moves at lightning pace, so subscribe to get the latest news and market highlights direct to your inbox.

📊 Market Highlights:

Polygon SDK

Polygon (previously Matic) @0xPolygon

1/9 Beloved @0xPolygon & Ethereum family and dear crypto community, Today, we are proud and excited to announce Polygon SDK! 🔥🎉 Polygon SDK is an important milestone for Polygon and a major step towards Multi-chain Ethereum! 🦄💫 Keep reading to learn more...

Polygon have announced a plan to become the gateway to a multi-chain Ethereum.

While Ethereum DeFi apps are already deployed across sidechains including Polygon, Binance Smart Chain and Fantom, the move seeks to provide greater structure to enable this process to scale further and faster.

Initially sidechains and enterprise chains will be supported, with full L2 support coming in the future.

🥧 PieDAO

Decentralise is sponsored by PieDAO, the community governing tokenised indices.

PieVaults are an industry first, diversified yield aggregators capable of multiple farming strategies.

PieDAO just migrated their large cap index DeFi+L to a PieVault architecture, unlocking native staking and lending across Aave, Cream and Compound.

DeFi Saver Recipes

DeFi Saver @DeFiSaver

Today we're introducing the Recipe Creator - an advanced DeFi transaction builder!🥳 The Recipe Creator allows users to combine any number of actions from different DeFi protocols, as well as flash loans and swaps into a single transaction.🧑‍🍳 👉app.defisaver.com/recipes/

DeFi saver have introduced recipes, allowing users to easily combine multiple DeFi functions.

DeFi saver has provided a number of services, including automatically managing Maker vault positions by repaying debt.

Wild Credit Exploited

Mudit Gupta @Mudit__Gupta

Wild Credit was exploited earlier today and the hacker took 125k BNT tokens worth ~$650k. The hacker could have taken all of the 10m TVL locked in the system. The exploit happened due to a very basic issue in the smart contracts that I bet most of the followers can detect. 🧵👇

A relatively unknown protocol was exploited due to a developer oversight.

$650,000 BNT was withdrawn.

In an interesting turn of events, it appears the attacker was front run and didn’t actually perform the attack. The front runner who actually performed the attack has returned the funds.

🗞️ Previous Newsletter

Quickswap $1B TVL, Cream Integrates Band Oracles, $100B Stablecoin Supply

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