🐓 Investors Plow $28M Into LUSD Chicken Bonds

Hello Defiers! Here’s what we’re covering today:

News

• Investors Plow $28M Into LUSD Chicken Bonds

• Coinbase’s 1.5% APY is Half the Savings Rate Offered by Banks

• Deribit Freezes Withdrawals and Deposits After $28M Exploit

Podcast

Video

• Daily Defiant: PayPal's Misinformation Fine Shows Why We Need An Alternative To Fintechs

DeFi Explainers

• What Is a dApp?

Elsewhere

• Crypto Exchange Deribit Loses $28M in Hot Wallet Hack, Pauses Withdrawals: CoinDesk

• MakerDAO co-founder Nikolai Mushegian dies at 29 in Puerto Rico: CoinTelegraph

• GM spores, our frens @mycelium_xyz started a referral competition!: Arbitrum

Trending in The Defiant

• Record $760M Stolen in Exploits During ‘Hacktober’

• Aave Rolls Up its Sleeves With Only 5% of Goals Met

• Multichain Questioned About Management of Millions in User Funds

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DeFi Yields

🐓 Investors Plow $28M Into LUSD Chicken Bonds

Liquity Increases Protocol-Owned Liquidity By Nearly $500,000

By Owen Fernau

YIELDS As yields across DeFi continue to slide lower, the use of a recently-launched novel mechanism is going up. Enter Chicken Bonds, a new product from Liquity that offers users an enhanced yield over a period of time in exchange for bonding the LUSD stablecoin. 

👉READ THE FULL STORY IN THE DEFIANT.IO👈

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DeFi Rates

💰 Coinbase’s 1.5% APY is Half the Savings Rate Offered by Banks

Offering Comes After Last Week’s Partnership With MakerDAO

By Tarang Khaitan

APY Coinbase, the largest crypto exchange in the US, has announced that its users residing in the US, the U.K. and the European Union, excluding Germany and Italy, can now earn up to 1.5% APY on their USDC stablecoins.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

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Sponsored Post

Become a Goldfinch Member for enhanced yields 

Goldfinch is a decentralized credit protocol with a mission to connect the world’s capital to the world’s growth, with yields generated by real-world lending to growing off-chain businesses, and loans fully collateralized by real-world assets. The protocol has been noted as having one of DeFi’s highest yields for USDC lending, with Investors earning a 7.8%—18.5% USDC APY, and up to 23% est. APY including GFI rewards. 

Now, the protocol has announced Goldfinch Membership: empowering Goldfinch’s Investors and aligning the protocol’s participants with the network’s long-term success. 

Investors on Goldfinch will be able to join a Membership Vault to:

• Receive yield enhancements via Member Rewards

• Support Goldfinch’s growth and expansion

• Access exclusive communication channels and other benefits

Goldfinch’s global network of Investors have already loaned over $100M USDC, reaching over 1M people and businesses via the protocol’s Borrowers across 20+ countries, to earn yields uncorrelated to DeFi’s volatility. Goldfinch Membership is a new opportunity to further align Goldfinch’s Investors with the protocol’s long-term growth. 

Upgrade your participation for enhanced yields from Member Rewards, and own the new global credit paradigm. Sign up for the waitlist today

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Exploits

🥶 Deribit Freezes Withdrawals and Deposits After $28M Exploit

Exploiters Rip Off Hot Wallets at Exchange

By Tarang Khaitan

LOST Deribit, a cryptocurrency derivatives exchange, has lost $28M in an exploit, the firm said Wednesday in a Twitter thread. The exploiter managed to compromise Deribit’s BTC, ETH, and USDC hot wallets shortly before midnight, Nov. 1, the exchange said.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

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The Tube

📺 Daily Defiant: PayPal's Misinformation Fine Shows Why We Need An Alternative To Fintechs

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Podcast Video

📺🎙 100% of DeFi Could Become Illegal

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DeFi Explainers

🤔 What Is a dApp?

A Step-by-Step Guide to Ethereum-based Applications

By Rahul Nambiampurath

SMART CONTRACT A decentralized application (dApp) is software program  hosted on a blockchain network and run by a smart contract. Unlike regular apps one uses on a mobile phone or a laptop, dApps are powered by multiple servers.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

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Elsewhere

🔗 Crypto Exchange Deribit Loses $28M in Hot Wallet Hack, Pauses Withdrawals

Cryptocurrency options and futures exchange Deribit has been hacked, with $28 million being drained from its hot wallet.

🔗 MakerDAO co-founder Nikolai Mushegian dies at 29 in Puerto Rico: CoinTelegraph

Nikolai Mushegian, co-founder of the cryptocurrency lending platform MakerDAO and the decentralized Dai stablecoin, was found dead in Puerto Rico last week.

Arbitrum @arbitrum

GM spores, our frens @mycelium_xyz started a referral competition!🍄 Check it out below.👇

Mycelium @mycelium_xyz

🍄 Our $20,000 Referrals Competition is LIVE🍄 1. Head to https://t.co/oPsQUfbFiP on @arbitrum 2. Generate, share, and trade on your referral code 3. That's it! You're in the pool to win. Full comp details are here: https://t.co/mOcaK25VQ9 https://t.co/78GeoM4ENR

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Trending in The Defiant

• Record $760M Stolen in Exploits During ‘Hacktober’ Call it Hacktober.The crypto market suffered a record $760M in exploits in October, according to PeckShield, a blockchain security company which lists MakerDAO, DeFi’s largest protocol, as a customer.

• Aave Rolls Up its Sleeves With Only 5% of Goals Met A v3 deployment on Ethereum, a stablecoin, and a debit card. Aave, the trailblazing DeFi lending protocol, has a lot of work to do.

• Multichain Questioned About Management of Millions in User Funds The vast majority of crypto lost to hacks this year was stolen from bridges, the technology that allows users to transfer digital assets between blockchains.

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🧑‍💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.

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