Davos Protocol's Security Measures in Response to DeFi Vulnerabilities
Davos Protocol's Security Measures in Response to DeFi Vulnerabilities
Davos Protocol is taking important security measures to protect its users in light of recent vulnerabilities in the DeFi space. These measures include a $500,000 bug bounty on Immunefi, completion of 4 audits by top firms, and an ongoing 5th audit. The goal is to ensure the safety of funds and provide users with confidence in their investments.
Davos Protocol Expanding into Liquid Restaking Tokens (LRTs)
Davos Protocol is expanding into the LRTFi sector and introducing a CDP solution that enables the collateralization of reward-bearing tokens. By integrating LRTs, investors can unlock a threefold yield advantage, gain exposure to the DGT token, and unlock DUSD for various DeFi activities. Davos Protocol aims to be the first stablecoin platform to venture into LRTFi and plans to introduce the DGT token as a TVL boost for integrated protocols.
New sDAI/DUSD pool on Balancer with boosted yields
The Davos Protocol community has announced a new sDAI/DUSD pool on Balancer, paired with a farm on Aura Finance. This pool offers boosted yields, thanks to MakerDAO's innovative DAI savings rate (sDAI). Investors can now make their investments work harder.
Velodrome's frontend compromised, but Davos Protocol unaffected
The frontend of Velodrome has been compromised, but this incident has not affected Davos Protocol's pools, contracts, or users' funds. Users are advised to avoid all links to the Velodrome website except for a confirmed safe mirror link. Velodrome team is working on fixing the issue.
Davos Protocol to co-host AMA with Venus Protocol
Davos Protocol has integrated vUSDT and vUSDC and will be co-hosting an AMA with Venus Protocol on November 23rd to address inquiries from their citizens. Participants can ask questions in the comments of the tweet to be answered live.