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DeFi Corner
ETH Shapella Update, Sushi Forks Uni and Gets Drained, MEVBlocker by Gnosis
Greetings, fellow weirdos! It's time for another edition of weflip, the newsletter that takes web3 world, flips it upside down, and gives it a good shake.
This time around, we're delving deep into the magical realm of decentralized finance (DeFi). So, put on your wizard robes, grab your wands, and let's cast some financial spells together (and try not to loose money)
Whether you're a DeFi sorcerer or a mere muggle, we've got something for everyone in this edition of weflip. Hodl tight and keep your cauldron stirring.
ETH Shapella Update
The much-awaited Shapella update has been completed recently. This update allows ETH stakers to withdraw their ETH on demand from Ethereum staking, which hasn't been possible since staking was launched a few years ago. Given that 19 million ETH has been locked in staking for so long, it has been a constant debate on what stakers would do once the update happens. You can watch the details on the Nansen dashboard.
Sushi Forks Uniswap and Gets Drained
On the day the license of Uniswap's V3 contracts expired, Sushi announced they would rapidly deploy UniV3 pools to more networks and faster than anyone. This was a shock to followers of the DeFi scene because Sushi spent last year developing their competing product, Trident. However, upon deploying UniV3 pools, Sushi quickly got hacked on their V3 pools because they missed a few details on the source codebase, which allowed the hacker to take control of 3.3 million dollars.
MEVBlocker by Gnosis
MEV (Miner Extractable Value) has been one of the hot topics being debated in the Ethereum world. While it certainly has benefits, it also allows certain attacks towards everyday users. MEV-related attacks account for close to a billion dollars. CoW Swap by Gnosis has announced their RPC Endpoint solution for shielding users from such attacks and allowing them to back-trade those attacks and profit from protecting other users. This approach has been praised by Ethereum core developers and the community and is being regarded as one of the more exciting experiments in the area with regards to MEV. Learn more here & here.
HODL HR
Helping degens land dream jobs since 2023, here is this week’s menu:
That's a wrap for today. Meet us on Telegram to talk all about it. It’s kinda like a family dinner but without all the drama and passive-aggressive comments about your life choices.