Today in DeFi - Indian CEX WazirX Hacked for $235M, Hermetica Launches Bitcoin-backed Stablecoin, Polygon Token Upgrade Coming, Try EVM L1 for Free to Earn Potential Airdrop, and more...

Launches 🚀

• Hermetica launched USDh on Runes. USDh is the first Bitcoin-backed, yield-bearing stablecoin on Stacks and Runes. Users can stake USDh to earn up to 25% plus points.

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Issues 🚨

• Indian crypto exchange WazirX was hacked for $235M due to a security breach on one of the exchange’s multi-sig wallets. WaxirX has temporarily paused withdrawals while seeking resources for recovery. According to @zachxbt and Elliptic, the North Korean Hacker Group Lazarus is likely behind the hack.

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Upcoming ⏳

• Polygon plans to migrate from the MATIC token to the new POL token on September 4. POL will replace MATIC as the native gas and staking token for Polygon PoS and serve a crucial role in the AggLayer. MATIC holders on Ethereum will need to upgrade to POL through the migration contract.

• TON Foundation introduces TON Teleport, a product that will allow users to bridge to transfer (‘peg-in’ and ‘peg-out’) BTC between the Bitcoin blockchain and TON.

• Y2K Finance proposes Fractality Protocol, a lending protocol where users can deposit crypto assets and earn a variable yield.

• Berachain dev introduces The Sink, an L2 that aims to democratize Native Yield using two core primitives: a Simple V2 DEX featuring a bribe mechanism and a CDP featuring a stakeable stablecoin.

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Farms 🧑🏻‍🌾

• Add your GHO on Spectra Finance to earn ~ 27.73% APR from AAVE and Merit Program

  • Today in DeFi is supported in part by ACI

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