<div>
  <ul>
    <li>
      <p>
        Mango markets, a decentralized exchange, announced that it had recovered USD 67 million from the hacker who 
        <a href="https://sp-edge.com/updates/13692">
          drained the platform for over USD 100 million
        </a>
         last week.&nbsp;
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        Avraham Eisenberg, who was a part of a group that claimed responsibility for the exploit, returned the money to the exchange while defending his actions as legal.
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        Mango Markets later announced that its DAO community would be voting to decide how to distribute the returned funds.&nbsp;
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.coindesk.com/business/2022/10/15/114m-mango-markets-exploiter-outs-himself-returns-most-of-the-money/?utm_medium=referral&utm_source=rss&utm_campaign=headlines">
      Coindesk
    </a>
  </p>
</div>


Decentralized Finance (DeFi)

Mango markets recovers USD 67 million in stolen funds

<div>

 <p>Aave's decentralized social networking ecosystem, Lens Protocol, has received USD 31 million in a funding round. The round, led by Lightspeed Faction, saw participation from Avail, Circle, Consensys, Foresight Ventures, Wintermute Ventures, and angel investors. This brings Lens Protocol's total funding to USD 46 million.</p>
 <p>The newly acquired funds will be put towards scaling the network infrastructure in preparation for the mainnet launch on Ethereum, set to take place in early 2025.</p>
 <p>Lens Protocol, developed by Avara, offers customizable plug-and-play features like accounts, usernames, graphs, feeds, and groups. The platform has already secured partnerships with Alchemy, Chainlink, The Graph, USD Coin, MetaMask Wallet, and Uniswap.</p>
 
</div>

Lens raises USD 31 million in funding to scale network infrastructure

PROMINENT_CATEGORY

<div>
 <p>Decentralized smart contract platform, Sonic Labs, has unveiled the Sonic mainnet, its new EVM-compatible layer-1 blockchain platform. As part of its offerings, the platform has launched a new native token (S token), which can be acquired by existing Fantom (FTM) token holders at a 1:1 ratio through a dedicated portal or supported exchanges.</p>

 <p>There are three main features of the Sonic mainnet. First, the Fee Monetization (FeeM) model which rewards developers with up to 90% of the network fees. Second, the Sonic Gateway allows for secure cross-chain transfers between Sonic and Ethereum. Third, the platform boasts a processing capability of 10,000 transactions every second, with sub-second finality. The platform is also characterized by its two incentive structures: Sonic Points targeted at its userbase and Sonic Gems for the developer community.</p>

 <p>Sonic Labs purports that their new platform will function as a native decentralized gateway into the Ethereum ecosystem. Consequently, developers will have a scalable platform to create applications that can be compatible across multiple chains. In addition, the launch includes an airdrop of approximately 190.5 million S tokens. Users stand to receive 25% of their allocated tokens on the first day, while the remaining 75% will be vested over a 270-day period.</p>

</div>

Sonic Labs launches mainnet with EVM support and token upgrade

<div>
 <p>Digital asset custody and tokenization platform, Prometheum, secured a $20 million investment from an undisclosed group of high-net-worth investors and institutions in 2024. The funding will help Prometheum expand its workforce and develop initiatives in 2025. The company also aims to launch trading services through Prometheum ATS by the first quarter of 2025, with an expanded offering including tokenized versions of various traditional securities.</p>
 <p>Prometheum Inc. operates as a digital asset trading and custody platform through Prometheum ATS (trading) and Prometheum Capital LLC (settlement, clearing, and custody). As an SEC-registered special purpose broker-dealer and a FINRA member firm, Prometheum offers custody services for several digital assets, including Ethereum, Arbitrum, Uniswap, Optimism, and The Graph.</p>
</div>

Prometheum raises USD 20 million in fresh funding

<div>
 
 <p>Anchorage Digital, a cryptocurrency lending platform for institutions, has been granted a BitLicense from the New York State Department of Financial Services. This authorizes the bank to provide cryptocurrency services to businesses in New York by 2025.</p>
 <p>The BitLicense enables Anchorage Digital to offer regulated crypto trading, custody, and settlement services to clients based in New York. These clients can include registered investment advisors and institutional asset managers, who would receive the services via Anchorage Digital Bank. With this license, Anchorage Digital becomes the only agency trading desk possessing an NYDFS BitLicense. This follows its recent procurement of a Major Payment Institution License from the Monetary Authority of Singapore.</p>
 
</div>

Anchorage Digital obtains New York BitLicense approval

ANALYST_QUICK_TAKE

<div>
 
 <p>Plume, a layer-1 blockchain network dedicated to real-world asset finance, has entered into a partnership with DigiFT, which is the first licensed exchange for on-chain real-world assets (RWA) in Singapore. This partnership aims to expand the offerings of regulated digital assets.</p>
 <p>This collaboration will provide access to institutional-grade tokenized investment products. This includes the UBS Asset Management's tokenized money market fund (uMINT) which will be available on Plume's network. DigiFT, which is licensed by the Monetary Authority of Singapore, will handle the primary issuance and secondary trading of asset-backed tokens via its regulated platform.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> This is the company's second RWA-related partnership in a week, following its <a href="https:<br>
//sp-edge.com/updates/37189"> collaboration </a> with <a href="https:<br>
//sp-edge.com/companies/2818025"> Zoth </a> , a real-world assets ecosystem, and <a href="https:<br>
//sp-edge.com/companies/3159262"> Olea </a> , a digital infrastructure platform for supply-chain assets, to develop blockchain-based trade financing solutions.</p>

Plume partners with DigiFT to bring regulated real-world assets to blockchain network

<div>
 <p>Decentralized finance lending platform Yei Finance has received $2 million in seed funding from various investors including Manifold, DWF Ventures, Kronos Research, Outlier Ventures, Side Door Ventures, WOO, Matt Dobel and 0xZHUANG. </p>
 <p>The funding will be utilized for the development of its next-generation platform including building modular lending markets, creating a dedicated app chain with hub-and-spoke architecture, and establishing a unified liquidity pool for enabling cross-chain operations.</p>
 <p>Yei Finance operates on the Sei network as a decentralized, non-custodial money market protocol. It enables users to supply, borrow, and swap tokens via overcollateralized and flash loans. The protocol supports several assets like USDC, SEI, USDT, and WETH, and offers dynamic interest rates depending on the market conditions. It features isolated lending pools designed specifically for different assets, risk profiles, and strategies, enhanced with yield-bearing tokens such as yUSDC for improving capital efficiency. Additionally, the protocol incorporates Circle's CCTP for conducting native USDC stablecoin transfers, eliminating dependence on wrapped tokens or third-party bridges thus reducing transaction costs.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> The DeFi lending space remains one of the most well-funded segments within the DeFi space, having seen a large influx in investor interest within the last six months. Folks Finance joins a number of other startups, such as <a href="https:<br>
//sp-edge.com/companies/1808718"> Folks Finance </a> , <a href="https:<br>
//sp-edge.com/companies/3759896"> Ammalgam </a> , <a href="https:<br>
//sp-edge.com/companies/3738389"> Echelon </a> , <a href="https:<br>
//sp-edge.com/companies/3730807"> Credbull </a> , <a href="https:<br>
//sp-edge.com/companies/2601166"> Arch Lending </a> , and <a href="https:<br>
//sp-edge.com/companies/2177294"> Morpho </a> , which raised <a href="https:<br>
//sp-edge.com/updates/36086"> USD 3.2 million </a> , <a href="https:<br>
//sp-edge.com/updates/33446"> USD 2.5 million </a> , <a href="https:<br>
//sp-edge.com/updates/32994"> USD 3.5 million </a> , <a href="https:<br>
//sp-edge.com/updates/32868"> USD 5.2 million </a> , <a href="https:<br>
//sp-edge.com/updates/32864"> USD 75 million </a> , and <a href="https:<br>
//sp-edge.com/updates/32244"> USD 50 million </a> , respectively. Yei differentiates itself by offering an in-house DEX aggregator to optimize swaps on Algorand.</p>

Yei Finance raises USD 2 million in seed funding to develop omnichain lending

<div>
 <p>Ethereum-based yield aggregation protocol, Balancer, has launched its latest version, Balancer v3. New features of the protocol include: a 100% Boosted Pools function that directs capital to external yield markets while maintaining swap liquidity; a Hooks Framework which extends the functionality of liquidity pools; and custom pool types for creating customized automated market makers (AMMs).</p>
 <p>The platform also introduced the StableSurge Hook which safeguards stable-asset pegs during periods of market volatility and offers improved returns for liquidity providers. Balancer also confirmed the platform's security has been audited by Trail of Bits, Spearbit, and Certora. </p>
 <p>Concurrently with the v3 launch, Balancer announced its collaboration with Aave, a lending protocol in the DeFi sector. This partnership will initiate the launch of Boosted Pools, utilizing them to enhance liquidity for Aave users, which will allow access to more efficient lending and swapping markets. </p>
</div>

Balancer launches v3 update in partnership with Aave

<div>
 <p>Xcoub, a DeFi staking platform, has successfully raised USD 7 million in a Series A fund round from undisclosed investors. This financial boost will be utilized to expand their global outreach initiatives, bolster market presence, enhance infrastructure, and incorporate innovative features to their platform. Alongside this financial development, the company has initiated a Bug Bounty Program that offers up to USD 100,000 in rewards to those who help in identifying potential security risks on the platform.</p>
 <p>The platform offered by Xcoub is non-custodial in nature, permitting users to generate yields by securing various blockchain networks like Ethereum (ETH), Aptos (APT), and Optimism (OP). With support for over 10 blockchain networks, Xcoub utilizes sophisticated algorithms to augment user's staking rewards. These algorithms conduct a comprehensive analysis of market trends and optimize strategies in real-time.</p>

</div>

Xcoub raises USD 7 million in Series A funding to expand global operations

<div>
 <p>Symmio, a decentralized derivatives protocol, just successfully raised USD 3.1 million in funding. A significant part of this funding, USD 2.1 million to be precise, was contributed by new investors such as Spartan Group, Orbs, MCLB, and Blockchain Founders Fund. However, previous investors like AgentChud, MS2 Capital, Gametheorizing, GMoney, and Prime Ventures also made notable contributions.</p>
 <p>The funds were amassed shortly before Symmio's Token Generation Event, which is set for December 16, 2024. During this event, Symmio will unveil the $SYMM token on the Base network, with initial liquidity being facilitated via SYMM/ETH pairs on Aerodrome Finance.</p>
 <p>Symmio functions as a decentralized trading infrastructure platform that enables users to establish synthetic derivatives markets. The platform relies on an intent-based system in which trades are implemented when all involved parties commit collateral. This results in isolated, symmetrical trades that guarantee no system-wide risk. To leverage off-chain order books, Symmio uses Solvers to facilitate enormous parallel order matching before finalization on-chain. As of December 2024, the platform had generated over USD 8 billion in terms of trading volume. It has also provided upward of USD 200 million in open interest across over 600 trading pairs on networks such as Arbitrum, Base, BSC, and Mantle.</p>
 
</div>

Symmio raises USD 3.1 million in funding from Spartan Group

<div>
 <p>Cryptocurrency application developer, Mass, has formed a partnership with Synthetix, a platform for the creation and trading of synthetic assets. This partnership aims to integrate Synthetix's leveraged perpetuals platform into a new mobile trading app.</p>
 <p>This mobile trading app combines the features of on-chain trading and self-custody with a centralised exchange interface. This enables users to trade perpetual futures with a leverage of up to 25x. The app is designed to be user-friendly, allowing users to login using their Apple and Google accounts. It offers various features such as sponsored first transactions, a crosschain gas tank, and multiple options for on/off-ramp via SEPA, ACH, and credit/debit cards.</p>
 <p>The application plans to expand its reach to the US, Europe, and Asia, aiming to cater to a diverse range of mobile users. The simplification of the onboarding process is expected to attract users beyond those familiar with cryptocurrency.</p>
 
</div>

All Updates

Mango markets recovers USD 67 million in stolen funds

Lens raises USD 31 million in funding to scale network infrastructure

Sonic Labs launches mainnet with EVM support and token upgrade

Prometheum raises USD 20 million in fresh funding

Anchorage Digital obtains New York BitLicense approval

Plume partners with DigiFT to bring regulated real-world assets to blockchain network

Yei Finance raises USD 2 million in seed funding to develop omnichain lending

Balancer launches v3 update in partnership with Aave

Xcoub raises USD 7 million in Series A funding to expand global operations

Symmio raises USD 3.1 million in funding from Spartan Group

Mass partners with Synthetix to launch decentralized mobile perps trading app

Decentralized Finance (DeFi)

Mango markets recovers USD 67 million in stolen funds

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