{"id":347038,"date":"2021-10-01T18:15:00","date_gmt":"2021-10-01T15:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/finance-redefined-dydx-milestone-and-1m-defi-bounty-sept-24-oct-1\/"},"modified":"2021-10-01T18:15:00","modified_gmt":"2021-10-01T15:15:00","slug":"finance-redefined-dydx-milestone-and-1m-defi-bounty-sept-24-oct-1","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/finance-redefined-dydx-milestone-and-1m-defi-bounty-sept-24-oct-1\/","title":{"rendered":"# Finance Redefined: dYdX milestone and $1M DeFi bounty, Sept. 24\u2013Oct. 1"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40ce89affd2\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40ce89affd2\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-dydx-milestone-and-1m-defi-bounty-sept-24-oct-1\/#dYdX_surpasses_Coinbase_in_trading_volume_for_first_time\" >dYdX surpasses Coinbase in trading volume for first time<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-dydx-milestone-and-1m-defi-bounty-sept-24-oct-1\/#Cardano_to_enable_new_DeFi_stablecoin_with_Coti\" >Cardano to enable new DeFi stablecoin with Coti<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-dydx-milestone-and-1m-defi-bounty-sept-24-oct-1\/#White_hat_hacker_paid_DeFis_largest_reported_bounty_fee\" >White hat hacker paid DeFi\u2019s largest reported bounty fee<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-dydx-milestone-and-1m-defi-bounty-sept-24-oct-1\/#Token_performances\" >Token performances\u00a0<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Finance Redefined: dYdX milestone and $1M DeFi bounty, Sept. 24\u2013Oct. 1  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Welcome to the latest edition of Cointelegraph\u2019s decentralized finance (DeFi) <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter.<\/p>\n<p>DYdX surpassed Coinbase in daily trading volume for the first time this week. Read on to discover why this was a seminal moment for the project\u2019s founder.<\/p>\n<p>What you\u2019re about to read is the concise version of this newsletter. For the full breakdown of DeFi\u2019s developments over the last week \u2014 released with more anticipation than a layer-two airdrop\u00a0\u2014 register below.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/p>\n<h3><span class=\"ez-toc-section\" id=\"dYdX_surpasses_Coinbase_in_trading_volume_for_first_time\"><\/span>dYdX surpasses Coinbase in trading volume for first time<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Decentralized derivatives exchange dYdX has risen to prominence through 2021 as an alternative to the hegemony and governmental transparency of centralized exchanges. It was revealed that dYdX surpassed the daily trading volume of crypto exchange stalwart Coinbase for the first time in its history.<\/p>\n<p>Analytical data from CoinGecko revealed that dYdX facilitated in excess of $4.3 billion trading activity on Sept.\u00a026, eclipsing Coinbase\u2019s output of $3.7 billion by almost 15%.<\/p>\n<p>This marks a full-circle moment for dYdX founder Antonio Juliano, who previously <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lied his trade at Coinbase. He <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/antoniomjuliano\/status\/1442234625120608256?s=21\">recalled<\/a> a time when he first spoke to CEO Brian Armstrong about his ambitions to launch a company in the future, receiving the response, \u201cThat\u2019s awesome, let\u2019s see how we can help you do that.\u201d<\/p>\n<p>Juliano celebrated the landmark in a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of tweets last Sunday:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">5 years ago I left <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/coinbase?ref_src=twsrc%5Etfw\">@coinbase<\/a> and eventually founded dYdX <\/p>\n<p>Today, for the first time, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/dydxprotocol?ref_src=twsrc%5Etfw\">@dydxprotocol<\/a> is doing more trade volume than Coinbase  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/QzoKAUpH29\">pic.twitter.com\/QzoKAUpH29<\/a><\/p>\n<p>\u2014 Antonio | dYdX  (@AntonioMJuliano) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AntonioMJuliano\/status\/1442234625120608256?ref_src=twsrc%5Etfw\">September 26, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Cardano_to_enable_new_DeFi_stablecoin_with_Coti\"><\/span>Cardano to enable new DeFi stablecoin with Coti<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>It was announced this week that Cardano\u2019s payment gateway provider, Coti, is expected to issue a new stablecoin called Djed to support the ecosystem\u2019s ambitions in ensuring price stability and increasing the transparency of gas fees on the network. <\/p>\n<p>According to Djed\u2019s research paper released in August, its stablecoin protocol will behave like an \u201cautonomous bank that buys and sells stablecoins for a price in a range that is pegged to a target price.\u201d The stablecoin will operate by maintaining a reserve of base coins while minting and burning various other stable assets and reserve coins.<\/p>\n<p>Cardano founder Charles Hoskinson believes that the Djed stablecoin could be revolutionary for the crypto space, as it appeals to an \u201centirely new audience at a time when the industry is already experiencing astronomical growth.\u201d<\/p>\n<h3><span class=\"ez-toc-section\" id=\"White_hat_hacker_paid_DeFis_largest_reported_bounty_fee\"><\/span>White hat hacker paid DeFi\u2019s largest reported bounty fee<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Automated market maker protocol Belt Finance offered the largest reported bounty in the history of DeFi this week to a white hat hacker responsible for discovering a bug that, if exploited, could have exposed $10 million in assets.<\/p>\n<p>For his good-willed efforts, industry programmer Alexander Schlindwein received a generous compensation of $1.05 million, $1 million of which was granted by software security platform Immunefi, while the additional $50,000 was offered by Binance Smart Chain\u2019s Priority One program upon which Belt Finance is built.<\/p>\n<p>Cointelegraph spoke to Schlindwein for an exclusive insight into the timeline of events, as well as the wider implications of bounty programs on DeFi\u2019s security landscape:<\/p>\n<blockquote><p>\u201cI am strongly convinced of the importance of bug bounties and initiatives such as bounty funds. Bug bounties are the last line of defense should an issue slip through the overlying layers with the potential to prevent a devastating hack while instead seriously fixing the issue and compensating the finder.\u201d<\/p><\/blockquote>\n<p>Schlindwein concluded, \u201cIt\u2019s great to see hundreds of projects launching their bug bounty nowadays, which will certainly bring DeFi security forward in the long run.\u201d<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Token_performances\"><\/span>Token performances\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Analytical data reveals that DeFi\u2019s total value locked has increased 15.34% across the week to a figure of $121.41 billion.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/bc8945c5-95a8-4ed8-85a1-f2ddfa9893ad.png\"><\/figure>\n<p>Analytical data on Cointelegraph Markets and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/markets\/cryptocurrencies\/defi\/\">TradingView<\/a> reveals that DeFi\u2019s top 50 tokens by market capitalization largely struggled<strong> <\/strong>across<strong> <\/strong>the last seven days, with a handful of prominent exceptions.\u00a0<\/p>\n<p>DYDX secured the podium\u2019s top spot with an impressive 82.39%. UNI came a respectable second with 23.88%, while PERP bagged third with 21.45%. Fourth and fifth place were claimed by FTM and XTZ with 11.62% and 8.67%, respectively.  <\/p>\n<p><strong>Extra DeFi stories from the week:<\/strong><\/p>\n<ul>\n<li>Crypto baffles mainstream <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>, but should blockchain advocates care?<\/li>\n<li>DeFi and Web 3.0: Unleashing creative juices with decentralized finance<\/li>\n<li>Ethereum alternatives and layer-one solutions see steady gains in September<\/li>\n<\/ul>\n<p><em>Thanks for reading our summary of this week&#8217;s most impactful DeFi developments. Join us again next Friday for more stories, insights and education in this dynamically evolving ecosystem.<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/finance-redefined-dydx-milestone-and-1m-defi-bounty-sept-24-oct-1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Finance Redefined: dYdX milestone and $1M DeFi bounty, Sept. 24\u2013Oct. 1 &#8221; Welcome to the latest edition of Cointelegraph\u2019s decentralized finance (DeFi) newsletter. DYdX surpassed Coinbase in daily trading volume for the first time this week. Read on to discover why this was a seminal moment for the project\u2019s founder. What you\u2019re about to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":347039,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvYzMxYjUxNjYtNTQxZC00YzYwLWJhOTctNTkyYWY4YzVkYjk4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75378,74956,74868,74882,95119],"class_list":["post-347038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cardano","tag-coinbase","tag-defi","tag-hacks","tag-layer2"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/347038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=347038"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/347038\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/347039"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=347038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=347038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=347038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}