Sujiko Protocol is a next-generation decentralized NFT trading platform. It supports perpetuals that track the index price of NFT collections and features up to 10x leverage, low swap fees, and low slippage. Sujiko Protocol allows its users to short major NFT collections. Users can earn passive income by providing liquidity.
Tether has reduced its commercial paper holdings to zero. It has replaced those holdings with US treasury bills. US treasury holdings accounted for 58.1% of the company's total portfolio as of September 30. Tether said that it would bring its commercial paper holdings down to zero by the end of the year due to concerns over the stability of the Tether ecosystem and USDT.
Arbitrum is a layer 2 solution designed to boost the speed and scalability of Ethereum smart contracts while adding additional privacy features. It allows developers to run unmodified EVM contracts and transactions without compromising on layer 1 security. Arbitrum's ecosystem has been on a consistent rise throughout the year. Centralization is still an issue, but most layer 2s are currently exposed to some form of centralization risk.
The Mango Markets exploit involved an oracle price manipulation attack on the MNGO market. The attacker pumped the price of the MNGO token and then used the tokens as collateral on Mango Markets to borrow all assets on the platform and leave it in deficit. They were able to withdraw roughly $116 million of assets. This Twitter thread looks at the movement of the exploited funds to find out who might be responsible for the hack.
Bitcoin is becoming less volatile than stocks. Bitcoin attracts many speculators who trade for the thrill of the swings. The low volatility may cause them to move out of Bitcoin. This could cause prices to drop.
Oracles can only report the current price of a token. Risk engines have to look at this information and then determine whether a position is safe. Attacks like the recent one on Mango Markets could be prevented by having risk engines follow a conservative set of rules. This Twitter thread discusses FTX's risk engine and how it protects FTX from oracle price attacks.