Altcoin News by Thebittimes.Com

Following the Nov. 22 exploit, KyberSwap has announced a treasury grant program for affected users, according to a Dec. 20 release on their blog. In relation to the KyberSwap Elastic incident that transpired from 22 November 2023, 10:54:09 PM UTC, resulting in the exploit ative swaps by the exploit er that drained approximately $48.8 million of users ’ funds from KyberSwap Elastic liquidity pools, we reiterate our unwavering… — Kyber Network (@KyberNetwork) December 1, 2023 According to a Dec. 1 post on X, the KyberSwap elastic incident resulted in exploitative swaps that drained approximately $48.8 million of users’ funds from liquidity pools. At the time, the network behind the flagship product, KyberSwap, reaffirmed its commitment to collaborate with law enforcement and cybersecurity to identify the exploiter and recover users’ funds.  As part of their plan, KyberSwap shared their intention to provide grants to affected users, matching the USD value of the funds los...

Out of the lot, 2.49 million DYDX tokens — worth $5.36 million — will be allocated to the community treasury. The treasury funds contributor grants, community initiatives and liquidity mining among other programs. Decentralized exchange (DEX) platform dYdX will unlock $14.02 million worth of DYDX (DYDX) tokens dedicated to the community treasury and rewards for traders and liquidity providers. On Aug. 29, dYdX will release 6.52 million in-house tokens, representing 3.76% of the DYDX circulating supply. Out of the lot, 2.49 million DYDX tokens — worth $5.36 million — will be allocated to the community treasury. The treasury funds contributor grants, community initiatives and liquidity mining among other programs. Upcoming dYdX unlock event. Source: token.unlocks.app The remaining 4.03 DYDX token s will be split between liquidity provider rewards (1.15 million token s worth $2.47 million) and trading rewards (2.88 million token s worth $6.18 million). Full funds allocation for dYd...