{"id":491748,"date":"2022-09-09T23:20:00","date_gmt":"2022-09-09T20:20:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dapp-activity-rises-3-7-in-august-for-the-first-time-since-may-finance-redefined\/"},"modified":"2022-09-09T23:20:00","modified_gmt":"2022-09-09T20:20:00","slug":"dapp-activity-rises-3-7-in-august-for-the-first-time-since-may-finance-redefined","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dapp-activity-rises-3-7-in-august-for-the-first-time-since-may-finance-redefined\/","title":{"rendered":"# DApp activity rises 3.7% in August for the first time since May: Finance Redefined"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 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-6a287a175bcf4\" 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-6a287a175bcf4\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/dapp-activity-rises-3-7-in-august-for-the-first-time-since-may-finance-redefined\/#%E2%80%9D_DApp_activity_rises_37_in_August_for_the_first_time_since_May_Finance_Redefined_%E2%80%9C\" >&#8221; DApp activity rises 3.7% in August for the first time since May: Finance Redefined   &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/dapp-activity-rises-3-7-in-august-for-the-first-time-since-may-finance-redefined\/#DApp_activity_rises_37_in_August_for_the_first_time_since_May_Report\" >DApp activity rises 3.7% in August for the first time since May: Report<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/dapp-activity-rises-3-7-in-august-for-the-first-time-since-may-finance-redefined\/#SEBA_Bank_to_provide_Ethereum_staking_services_to_institutions\" >SEBA Bank to provide Ethereum staking services to institutions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/dapp-activity-rises-3-7-in-august-for-the-first-time-since-may-finance-redefined\/#Degens_borrowing_ETH_to_get_fork_tokens_create_headaches_for_DeFi_platforms\" >Degens borrowing ETH to get fork tokens create headaches for DeFi platforms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/dapp-activity-rises-3-7-in-august-for-the-first-time-since-may-finance-redefined\/#Avalanche_flash_loan_exploit_sees_371K_in_USDC_stolen\" >Avalanche flash loan exploit sees $371K in USDC stolen<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/dapp-activity-rises-3-7-in-august-for-the-first-time-since-may-finance-redefined\/#DeFi_protocol_token_NFD_crashes_by_99_after_a_flash_loan_attack\" >DeFi protocol token NFD crashes by 99% after a flash loan attack<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/buradabiliyorum.com\/en\/dapp-activity-rises-3-7-in-august-for-the-first-time-since-may-finance-redefined\/#DeFi_market_overview\" >DeFi market overview<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_DApp_activity_rises_37_in_August_for_the_first_time_since_May_Finance_Redefined_%E2%80%9C\"><\/span>&#8221; DApp activity rises 3.7% in August for the first time since May: Finance Redefined   &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-71846793>Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights \u2014 a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter crafted to bring you significant developments over the last week.<\/p>\n<p>Decentralized <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>lications, or DApps, finally showed a glimmer of recovery in August as the daily average of unique active wallets rose by 3.7% compared to May.<\/p>\n<p>With just under a week left for the Merge, SEBA Bank has opened Ethereum staking services for institutions. On the other side, layer-2 scalability solutions are hopeful of seeing a significant cut in their carbon emissions post Merge.<\/p>\n<p>This past week, two DeFi protocols became victims of coordinated flash loan attacks. On Wednesday, Avalanche-based lending protocol Nereus Finance became the victim of a crafty hack that saw a user net $371,000 worth of USD Coin (USDC) using a smart contract exploit. The very next day, on Thursday, New Free DAO, a nonfungible token- (NFT)-focused project, lost nearly $1.25 million in another similar flash loan attack.<\/p>\n<p>Top-100 DeFi tokens by market cap finally saw a week of green after nearly two weeks of dominant bearish price action. Most of the tokens recorded double-digit gains, with Luna Classic (LUNC) \u2014 formerly Terra (LUNA) \u2014 making an entry into the top 30 with over 100% gains in the past seven days.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"DApp_activity_rises_37_in_August_for_the_first_time_since_May_Report\"><\/span>DApp activity rises 3.7% in August for the first time since May: Report<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>DApps showed a slight recovery for the first time since May, with the daily average of unique active wallets (UAWs) increasing 3.7% on a month-over-month basis, according to a report from DappRadar. <\/p>\n<p>The rise was partially driven by the Flow protocol, which rose 577% UAW due to Instagram\u2019s support of its NFTs and the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> Solitaire Blitz. On the other hand, Solana UAW shrank by 53% in August from the previous month, while transactions dropped by 68%, the findings showed.<\/p>\n<p>Continue reading<\/p>\n<h2><span class=\"ez-toc-section\" id=\"SEBA_Bank_to_provide_Ethereum_staking_services_to_institutions\"><\/span>SEBA Bank to provide Ethereum staking services to institutions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As the Ethereum network moves from a\u00a0proof-of-work (PoW)\u00a0to a\u00a0proof-of-stake (PoS) consensus, a digital asset platform initiated a service for institutions to dive into Ether (ETH) staking. <\/p>\n<p>In an announcement sent to Cointelegraph, Swiss digital asset banking platform SEBA Bank said that it has launched an Ethereum staking service for institutions that want to earn yields from staking on the Ethereum network. According to the firm, the move is a response to the growing institutional demand. for DeFi services.<\/p>\n<p>Continue reading<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Degens_borrowing_ETH_to_get_fork_tokens_create_headaches_for_DeFi_platforms\"><\/span>Degens borrowing ETH to get fork tokens create headaches for DeFi platforms<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The growing number of speculators taking out Ether loans to maximize their potential to earn forked Ether proof-of-work tokens (ETHPoW) has been causing headaches for DeFi protocols.<\/p>\n<p>The issue has been gaining traction over the past month or so as a significant number of Ether miners are expected to continue working on a forked PoW chain or possibly even multiple chains post the long-awaited Merge.<\/p>\n<p>Continue reading<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Avalanche_flash_loan_exploit_sees_371K_in_USDC_stolen\"><\/span>Avalanche flash loan exploit sees $371K in USDC stolen<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Avalanche-based lending protocol Nereus Finance has been the victim of a crafty hack that saw a user net $371,000 worth of USD Coin using a smart contract exploit.<\/p>\n<p>Blockchain cybersecurity firm CertiK was one of the first to detect the exploit on Tuesday, indicating that the attack impacted liquidity pools on Nereus relating to decentralized exchange (DEX) Trader Joe and automated market maker Curve Finance.<\/p>\n<p>Continue reading<\/p>\n<h2><span class=\"ez-toc-section\" id=\"DeFi_protocol_token_NFD_crashes_by_99_after_a_flash_loan_attack\"><\/span>DeFi protocol token NFD crashes by 99% after a flash loan attack<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>New Free DAO, a DeFi protocol, faced 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 flash loan attacks on Thursday, resulting in a reported loss of $1.25 million. The price of the native token has dropped by 99% in the wake of the attack.<\/p>\n<p>Unlike normal loans, several DeFi protocols offer flash loans that allow users to borrow large amounts of assets without upfront collateral deposits. The only condition is that the loan must be returned in a single transaction within a set period. However, this feature is often exploited by malicious adversaries to gather large amounts of assets to launch costly exploits that target tarDeFi protocols.<\/p>\n<p>Continue reading<\/p>\n<h2><span class=\"ez-toc-section\" id=\"DeFi_market_overview\"><\/span>DeFi market overview<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Analytical data reveals that DeFi\u2019s total value locked registered a minor change from the past week. The TVL value was about $61.02 billion at the time of writing. Data from Cointelegraph Markets Pro and TradingView show that DeFi\u2019s top 100 tokens by market capitalization had a bullish week with the majority of the tokens seeing double-digit gains, while a few others continue to trade in the red.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-09\/ee58c994-f326-4834-9258-bdbda188aa1f.png\"><\/figure>\n<p>LUNC was the biggest gainer on the weekly basis, registering a 101% gain over the past 7 days, followed by Chainlink (LINK) with 14.8% gains. Compound (COMP) rose by 7.71% and PancakeSwap (CAKE) registered a 6.24% gain on the weekly charts.<\/p>\n<p>Thanks for reading our summary of this week\u2019s most impactful DeFi developments. Join us next Friday for more stories, insights and education in this dynamically advancing space.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template>\n<\/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\/dapp-activity-rises-3-7-in-august-for-the-first-time-since-may-finance-redefined\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; DApp activity rises 3.7% in August for the first time since May: Finance Redefined &#8220; Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights \u2014 a newsletter crafted to bring you significant developments over the last week. Decentralized applications, or DApps, finally showed a glimmer of recovery in August as&#8230;<\/p>\n","protected":false},"author":1,"featured_media":491749,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvODAyZjE0MDMtNTc2Zi00OGZhLWEyODUtYmRkZDI1MjMxZTYxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[120396,74863,75186,78168,74868,74882,95118],"class_list":["post-491748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-avalanche","tag-cryptocurrencies","tag-dao","tag-dapps","tag-defi","tag-hacks","tag-nft"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/491748","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=491748"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/491748\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/491749"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=491748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=491748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=491748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}