# DeFi Related Articles

HTX News Center provides the latest articles and in-depth analysis on "DeFi", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Crypto hacks return: Is $35M in exploits the start of another DeFi FUD cycle?

A wave of crypto hacks targeting cross-chain bridges has resulted in $35.55 million in losses across three DeFi protocols in a single day, sparking concerns of a renewed DeFi FUD cycle. The largest exploit saw $24.2 million stolen from the AFX Arbitrum bridge. These incidents coincide with the hacker behind the massive $285 million Drift Protocol exploit from earlier this year resuming movement of stolen funds through Tornado Cash. This comes just as DeFi TVL had shown strong recovery, increasing by over $10 billion in July. The simultaneous bridge attacks and the reactivation of a major past exploit have injected fresh uncertainty into the market, potentially shifting focus back to security risks and threatening the sector's recent momentum.

ambcryptoYesterday 08:13

Crypto hacks return: Is $35M in exploits the start of another DeFi FUD cycle?

ambcryptoYesterday 08:13

Ten Questions and Answers: A Complete Guide to Robinhood Chain

"Ten Questions Answered: The Complete Guide to Robinhood Chain" Robinhood Chain, Robinhood's Ethereum Layer 2 network built on Arbitrum Nitro technology, launched its public mainnet on July 1, 2026. Designed for tokenized real-world assets (RWA) like stocks and ETFs, as well as DeFi applications, the network saw rapid initial growth, with over $3.1 billion in DEX volume in its first week. However, memecoin trading dominated this early activity, while the intended RWA use case, with approximately $13 million in tokenized stocks held, remains nascent. The network is EVM-compatible, uses ETH for gas, and features a permissionless design for users and developers, though its sequencer and validator set are currently permissioned. Its core functionalities include tokenized stocks/ETFs (which provide economic exposure but not legal ownership rights), decentralized trading via Uniswap's dedicated AMM, on-chain lending through Robinhood Earn, perpetual contracts, and support for AI agent-driven applications. Access to the underlying chain is open, but regulated products like stock tokens have jurisdictional restrictions and are not available in the U.S., Canada, and several other countries. Users can connect via Robinhood Wallet or compatible wallets like MetaMask. Key risks include over-reliance on speculative memecoin trading, limited adoption and liquidity for stock tokens, regulatory hurdles, centralization in core infrastructure, and standard cross-chain and smart contract risks. The network's long-term success in bridging traditional finance with DeFi hinges on developing its RWA ecosystem beyond initial speculation. (Note: All data referenced is as of mid-July 2026.)

marsbitYesterday 07:46

Ten Questions and Answers: A Complete Guide to Robinhood Chain

marsbitYesterday 07:46

Uniswap Token Jar: Unlocking Protocol Revenue Through Burning, New Gameplay Live on 11 Chains

Uniswap’s "Token Jar" mechanism links protocol revenue directly to UNI token burns. The smart contract accumulates a share of fees from Uniswap transactions across 11 chains, and funds can only be withdrawn by permanently burning UNI. This system, enacted after the UNIfication governance vote in December 2025, turns token destruction into a core requirement for accessing protocol income. The recent launch of Robinhood Chain, where Uniswap serves as the native exchange, has dramatically boosted volumes—reaching $3.75B in daily trades—pushing daily UNI burns to a record 186,000 tokens. New proposals aim to extend the fee model to Robinhood Chain and activate v4 fees on seven major chains, potentially accelerating the burn cycle. This creates a reinforcing loop: more chain adoption drives more fees into the Jar, requiring more UNI burns to unlock them. While concerns remain about liquidity provider margins, the design aligns incentives across the ecosystem and transforms UNI from a pure governance token into one with a direct claim on protocol revenue.

marsbitYesterday 07:34

Uniswap Token Jar: Unlocking Protocol Revenue Through Burning, New Gameplay Live on 11 Chains

marsbitYesterday 07:34

Hackers’ Day | July 23: $35.5M Lost. A Reminder That Security Is a Shared Responsibility

On July 23, a series of major DeFi security incidents resulted in combined losses of approximately $35.5 million within six hours. The attacks primarily exploited vulnerabilities in cross-chain bridge infrastructure and supporting systems, rather than the underlying blockchains themselves. These events underscore that security is a shared responsibility across the crypto industry, extending far beyond smart contracts to include infrastructure resilience and operational safeguards. The report highlights the need for continuous industry-wide improvements in areas such as independent audits, proof of reserves, protection funds, and transparent risk management. It also provides safety tips for users, emphasizing the importance of evaluating a platform’s security measures and transparency before depositing funds. Finally, the article outlines WEEX exchange’s security framework, which includes a 1,000 BTC Protection Fund, 1:1 Proof of Reserves, and enterprise-grade infrastructure, developed over eight years of operation. The core message is that effective security is built proactively, through long-term commitment and industry-wide collaboration, not merely in response to incidents.

TheNewsCryptoYesterday 07:29

Hackers’ Day | July 23: $35.5M Lost. A Reminder That Security Is a Shared Responsibility

TheNewsCryptoYesterday 07:29

AFX Bizarre Theft Case: Audit Report Full of Holes, Suspected Parent Company is Crypto Exchange Phemex

The decentralized perpetual exchange AFX suffered a hack on its cross-chain bridge, resulting in the theft of over $24 million, effectively draining the protocol's TVL. Following the incident, scrutiny fell on a security audit report released in early June by firm Zellic. The report itself raised significant red flags, stating it only covered part of the bridge's components, lacked testing of critical security paths, and was conducted without access to a live or local environment for proper validation. Prominent figures, including MetaMask's Taylor Monahan, criticized the report as alarming, noting numerous confirmed issues were left unaddressed and suggesting the team exhibited negligent security practices, potentially with a single point of control. Further investigation reveals strong ties between AFX and the centralized exchange Phemex. Key evidence includes a core AFX team member's previous role as Phemex's Head of Listing, overlapping social connections, Phemex's now-deleted blog posts actively promoting AFX, and nearly identical brand aesthetics. Notably, Phemex itself experienced a major $70+ million hack in January 2025, attributed at the time to North Korean hackers. The close association between the two entities, coupled with AFX's deeply flawed audit and subsequent major breach, raises serious questions about security standards and potential internal risks, leaving the true nature of the incident—whether another external attack or an internal scheme—unclear.

链捕手Yesterday 07:14

AFX Bizarre Theft Case: Audit Report Full of Holes, Suspected Parent Company is Crypto Exchange Phemex

链捕手Yesterday 07:14

Bitwise CIO: Two Drivers for the Next Bull Market

The CIO of Bitwise identifies the convergence of on-chain finance and traditional finance as the key driver for the next crypto bull market. This fusion, involving areas like stablecoins, tokenization, and 24/7 trading, will disrupt the financial industry. The article highlights two primary investment pathways emerging from this trend. First, crypto-native financial applications like Hyperliquid (HYPE), which boasts real revenue and strong tokenomics, are expanding into traditional assets. Second, traditional finance companies like Robinhood are actively building on crypto rails, as demonstrated by the rapid adoption of its new Layer 2 blockchain for tokenized stock trading. The author concludes that the scale of this coming shift will benefit the entire sector, with particular opportunities in crypto assets with solid fundamentals and established companies seriously experimenting with blockchain technology.

链捕手Yesterday 07:00

Bitwise CIO: Two Drivers for the Next Bull Market

链捕手Yesterday 07:00

Morpho Launches Fixed-Rate Product Midnight: Lenders and Borrowers Set Their Own Rates, Ending the Era of Interest Rate Models

Morpho Launches Fixed-Rate Product Midnight: Lenders and Borrowers Set Their Own Rates, Ending the Era of Algorithmic Interest Models On-chain lending has grown to $60 billion but remains minuscule compared to traditional finance's $200 trillion annual credit volume. Morpho identifies the lack of fixed rates and maturity dates as key bottlenecks. Institutions need predictability, not the passive floating rates set by algorithmic models. Midnight allows lenders and borrowers to directly quote rates, set terms, and become price makers, not takers. Fixed-rate lending is now viable due to cheaper, faster blockchains and the entry of institutions demanding control and certainty over returns, costs, and duration. Morpho Blue previously gave users control over risk; Midnight adds control over interest rates. Past attempts at on-chain fixed-rate lending failed primarily because they were built on top of floating-rate pools (creating unpredictability) or lacked sufficient active participants. Midnight avoids these pitfalls as a standalone primitive with fixed rates at its core, built upon Morpho Blue's existing large and active user base. Midnight offers distinct value: institutions gain predictable term structures and full control; fintech companies can offer tailored fixed-rate products; lenders/borrowers achieve predictability and efficiency; and curators can now differentiate by configuring both risk and interest rates. Morpho Midnight is not a replacement for Morpho Blue. The Morpho network will now feature two complementary market structures: floating-rate/open-term (Blue) for flexibility and fixed-rate/fixed-term (Midnight) for predictability. Liquidity can flow between them. The launch will be gradual, prioritizing security. Initially, it will support direct lending on Base network with one trading pair (cbBTC/USDC) and limited maturity dates. Advanced features like auto-rollovers will be introduced later.

marsbit07/22 06:32

Morpho Launches Fixed-Rate Product Midnight: Lenders and Borrowers Set Their Own Rates, Ending the Era of Interest Rate Models

marsbit07/22 06:32

Unlocking $100 Million in Liquidity? Pump.fun's New Policy Tests the 5-Minute Pump Technique

Pump.fun, a popular meme coin launchpad, has introduced a new standard mechanism called BOOST. It aims to address a significant capital efficiency issue: when a newly launched token graduates from its initial bonding curve to a liquidity pool (LP), roughly 20% of its liquidity becomes permanently locked as "dead liquidity," estimated to waste over $100 million annually. Instead of locking these funds permanently, BOOST repurposes them. Upon a token's migration, approximately 20% of the settlement funds (e.g., 17.6 SOL or ~$2516 USDC) are used to buy back the token on the open market over a 5-minute period via a Time-Weighted Average Price (TWAP) mechanism. All purchased tokens are immediately burned. This creates a brief, systematic buy pressure immediately after migration, potentially generating a short-term price surge ("pump") while permanently reducing the token's circulating supply. The goal is to enhance the immediate post-launch trading experience, potentially increasing trader retention and sustainable protocol revenue, which funds ongoing token buybacks. However, concerns exist that this artificial 5-minute boost could lower the barrier for launching low-quality tokens and lead to steeper price crashes once the buy pressure stops, if followed by large sell-offs. The feature automatically applies to tokens migrating after July 21, 2024, but not to previously migrated tokens or those launched via the Mayhem AI Agent lab.

marsbit07/22 05:48

Unlocking $100 Million in Liquidity? Pump.fun's New Policy Tests the 5-Minute Pump Technique

marsbit07/22 05:48

Podcast Notes | Conversation with GSR Asset Management Head: To Determine if This Crypto Rally is Real, Just Watch the Lending Rates on Aave

Podcast Summary: Dialogue with GSR's Head of Asset Management: To Determine if This Crypto Rally is Real, Just Check Lending Rates on Aave Andy Baehr, Managing Director of Asset Management at GSR, discusses the current crypto market, characterizing it as stuck in a state of "ambivalence" with short-lived, unsustainable rallies. He outlines a simple framework: the market moves between "ambivalence" and "conviction" (sustained upward momentum). Currently, every rally resembles a single-stage rocket booster that quickly fizzles out. Baehr identifies three key signals to watch: 1) DeFi lending rates, 2) the potential passage of the CLARITY Act, and 3) the market forming a consensus on the "Fed hawkish peak." He emphasizes that the most immediate indicator for the sustainability of the recent CPI-triggered rally is the USDC borrowing rate on Aave, currently around 3.75%—close to U.S. Treasury yields. The absence of a credit spread indicates low leverage demand and a lack of market energy. He explains that a healthy, sustained rally requires layered buying pressure. Last year's rally progressed from an ETH short squeeze to crypto-native trader influx and finally to ETF inflows. Currently, this structure is missing. Other potential structural buyers like Digital Asset Treasury (DAT) companies are absent, and ETF flows have proven transient. Baehr notes that while small-cap crypto tokens outperformed large caps in Q2—a potential sign of capitation in major assets—capital is also flowing to more exciting opportunities like AI stocks and tech IPOs, leaving crypto sidelined. Regarding DeFi, he highlights that platforms like Aave provide a clear, real-time signal of leverage demand through their supply/demand-driven interest rates. A significant, sustained rate increase would signal genuine market conviction. He also observes the quiet emergence of fixed-income-like products and vaults in DeFi. On regulation, the probability of the CLARITY Act passing before the August 7th deadline has dropped linearly from 75% to below 40% on Polymarket. Baehr suggests its passage would be treated as a bullish surprise, a potent driver for price movement. However, political hurdles, including ethical clause debates and disclosures about the First Family's crypto profits, remain significant obstacles. Ultimately, the market awaits clarity on the Fed's terminal rate under Chair Warsh. Until the "Fed Solstice"—the point where the market collectively understands the peak of hawkish policy—sustained conviction will be difficult to achieve.

marsbit07/22 05:17

Podcast Notes | Conversation with GSR Asset Management Head: To Determine if This Crypto Rally is Real, Just Watch the Lending Rates on Aave

marsbit07/22 05:17

Hyperliquid’s HIP-4 proposal fuels HYPE staking as long-term conviction grows

Hyperliquid has proposed the HIP-4 upgrade to expand from perpetual futures into a broader, permissionless infrastructure layer for on-chain applications, requiring deployers to stake 500,000 HYPE to launch new markets. This shift aims to enable developers to build on its platform, a strategy backed by growing long-term investor conviction. Evidence includes a major trader staking millions in HYPE instead of taking profits, with total staked tokens reaching 43.9% of the supply, reducing available tokens and strengthening network security. Market metrics like high open interest and balanced funding rates suggest measured, non-speculative trader positioning. Sustained growth in protocol revenue, TVL, and governance participation further supports the positive outlook, contingent on continued user adoption and successful upgrade execution.

ambcrypto07/22 04:32

Hyperliquid’s HIP-4 proposal fuels HYPE staking as long-term conviction grows

ambcrypto07/22 04:32

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