Today in DeFi - Multichain Hacked, SEC Going After DeFi, Quest to Earn, and more...

Multichain Stops All Services

Multichain was hacked and has announced it has stopped all services. All bridge transactions will be stuck on the source chain with unknown resume time.

Earlier today Multichain bridge contracts saw major outflows due to potential exploits. “More than 120M assets were transferred from the Fantom Bridge and the Moonriver Bridge and are now distributed across 6 addresses.”

SEC Investigating Barnbridge

The Barnbridge team has confirmed that the SEC is investigating the DAO and associated individuals. Barnbridge DAO’s legal counsel advised closing Barnbridge LP pools and stopping all products in order to reduce potential legal liability.

nftperp Closing V1

NFT perpetual protocol nftperp is sunsetting its v1 closed beta as the v1 vAMM model turned out to be “non-scalable”. The team has returned all user margins in WETH and plans to launch a v2 exchange. Users with negative PnL will be refunded while those with positive PnL will get a $VNFTP token.

Hidden Hand v2 Live

Redacted Cartel launches Hidden Hand V2. The upgraded bribe marketplace now has new bribe types, a yield harvester, a new interface, improved UX, and more markets on more chains.

Pika V4 Live

Optimism-based perpetual protocol Pika launches v4. The new version brings enhancements including improved order settlement, real-time price updates, simplified position management, reduced trading fees, etc.

Balancer 8020 Model

Balancer introduces the 8020 Initiative which plans to change its governance tokenomics by allowing staking alongside liquidity provision. The model benefits include increased liquidity, efficient incentive programs, asymmetric token exposure, minimized IL, and token hedging.

Quest to Earn, …