Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.
The past week in DeFi was dominated by developments in some of the OG DeFi protocols, with Uniswap Foundation announcing plans to raise $62 million in new funding and decentralized oracle service provider Chainlink brushing aside concerns about changes it made to multisignature wallets.
Mixin Network, which was hacked for nearly $200 million in crypto assets on Sept. 23, has now offered a $20 million bug bounty to exploiters for the return of the remaining funds, claiming a majority chunk of the stolen funds are user assets.
Curve Finance founder Michael Egorov cut back his debts to $42 million and settled his entire Aave loan on Sept. 28. And crypto exchange Upbit managed to stem a flood of fake Aptos tokens from the platform and resumed deposits and withdrawals for the token.
Chainlink downplays worries after users notice quiet change to multisig
Decentralized oracle network Chainlink has downplayed a recent change in the number of signers required on its multisig wallet — a move that garnered backlash on social media from vocal critics.
Crypto researcher Chris Blec was among several users on X (formerly Twitter) who called out Chainlink for quietly reducing the number of signatures required on its multisignature wallet from 4-of-9 to 4-of-8.
Uniswap Foundation targets $62 million in additional funding
Decentralized exchange (DEX) Uniswap is seeking an on-chain vote to approve the second tranche of the $74 million funding for its developer, Uniswap Foundation.
According to the Sept. 27 announcement, the second tranche of funding, with a buffer of 10% for price volatility, is worth an estimated $62 million and will be decided via an on-chain vote on Oct. 4. If approved, the funds will be used for operations and research grants. The Uniswap Foundation is responsible for growing core protocol metrics, building a pipeline for innovation and aligning incentives for stakeholders of the popular DEX.
Curve Finance founder cuts debt to $42.7 million, settles entire Aave loan
Michael Egorov, the founder of DeFi protocol Curve, recently settled his loans on the lending platform Aave, reducing his debt to $42.7 million across other protocols.
According to the on-chain analytics platform Lookonchain, the Curve founder deposited 68 million CRV tokens,…
Click Here to Read the Full Original Article at Cointelegraph.com News…