Security News: Quantstamp Launches DeFi Protection to Reimburse Users for Losses
Quantstamp, a blockchain security firm, has introduced a new product called DeFi Protection. This security service will reimburse users for their losses in decentralized finance (DeFi) due to any gaps in Quantstamp’s security services. DeFi Protection ensures the safety of smart contracts, alerts users of potential threats, and provides 24/7 support from security auditors. To sign up for the service, users can select the protocols they want to protect, the duration of protection, and the maximum reimbursement amount before paying in USDC. Initially, Aave, Compound, Curve, Lido, and Uniswap will be available, with more protocols to be added soon.
Blockchain News: Polygon Proposes Protocol Council for Decentralized Governance
Polygon has proposed the creation of a Protocol Council to ensure community-led governance for its existing and future protocols. The council will consist of 13 members from organizations such as the Ethereum Foundation, Coinbase, and EthCC. They will be responsible for making timelock-limited changes to smart contracts implemented on Ethereum for Polygon’s protocols. The proposed members include well-known individuals in the blockchain space such as Jordi Baylina and Justin Drake. The council will execute changes on the Polygon blockchain infrastructure through a Gnosis Safe contract.
Blockchain Solutions Firm Insomnia Labs Launches Loyalty+ for Modernizing Loyalty Programs
Insomnia Labs has collaborated with Web3 pioneers to launch Loyalty+, a next-generation blockchain-based tech stack aimed at transforming brand loyalty programs. Loyalty+ integrates blockchain technology, non-fungible tokens (NFTs), and artificial intelligence (AI) to provide a modern alternative to traditional loyalty models. It offers customers a unified online portal to access and redeem points from various loyalty programs, incorporates data-driven personalization, ensures interoperability between blockchain-based rewards and traditional platforms, and enhances user engagement through gamification.
Mining News: Bitdeer Announces Share Repurchase Program
Bitdeer Technologies Group, a Bitcoin mining company, has approved a share repurchase program allowing the repurchase of up to $2 million worth of its Class A ordinary shares. The program will be effective until April 17, 2024. Bitdeer plans to fund the repurchases from its existing cash balance. The company aims to minimize the impact on its share price and generate greater long-term returns for its shareholders through gradual execution of the share repurchase program.
Exchange News: KuCoin Launches Upgraded Futures 2.0 Platform
KuCoin has launched Futures 2.0, an upgraded futures trading platform with new features. The index and mark price are now more stable and better accommodated to market conditions, while clearing is faster and more stable. Trial funds are more user-friendly with easier access to rewards. For pro traders and institutions, a new application programming interface (API) rate has been introduced that is two times faster than before. Self-Trade Protection (STP) will also be launched soon to improve the trading experience.
Bitstamp Releases E-Book “Crypto Categories Unveiled”
Bitstamp has released an e-book titled “Crypto Categories Unveiled.” Authored by experts from Bitstamp’s global business, the e-book simplifies the complex landscape of cryptocurrencies by categorizing them into 14 distinct categories. These categories include stablecoins and NFTs and serve as a roadmap for both newcomers and experienced traders in understanding the various use cases offered by cryptocurrencies.
AI News: SCB 10X Announces Bangkok AI Hack 2023
SCB 10X, the venture building and investment arm of SCBX Group, has announced the forthcoming Bangkok AI Hack 2023. This event aims to bring together AI enthusiasts specializing in AI/ML Engineering, Data Science, and Entrepreneurship to develop innovative products and proofs-of-concept (PoCs). Participants will have the opportunity to collaborate with experts from various domains within the AI sector and engage in cross-industry collaboration and knowledge exchange.
Hot Take: Blockchain Security Firm Quantstamp Introduces DeFi Protection for Reimbursing Users
Quantstamp, a leading blockchain security firm, has unveiled DeFi Protection, a revolutionary product that offers reimbursement to users for any losses incurred in decentralized finance (DeFi) due to vulnerabilities in Quantstamp’s security services. By ensuring the safety of smart contracts, issuing threat alerts, and providing round-the-clock support from security auditors, DeFi Protection guarantees peace of mind for users. With protocols like Aave, Compound, Curve, Lido, and Uniswap already available at launch and more to be added soon, this program is set to transform the DeFi landscape. Powered by Chainproof and Tint, regulated insurance carriers for smart contract risks, Quantstamp’s DeFi Protection is compliant with regulations set by the North Carolina Department of Insurance.
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