A common saying within the crypto community is that a month in crypto is like a year in traditional industries. Headlines and announcements — of fundraisings, protocol upgrades, governance proposals, airdrops, hacks, NFT mints, acquisitions, and more — barrage users seemingly every hour. …

Summary Automated market makers (AMMs) form the backbone of decentralized finance. They allow users to trade assets, create new markets, and earn yields, all available 24/7 and without a central entity. Since their inception, they have grown to execute over $180 billion of trading volumes. DeFi moves fast. In this report…

On March 17th 2022, an airdrop equivalent to 15% of the total supply of ApeCoin was distributed to BAYC/MAYC owners [1]. To claim the airdropped ApeCoin, a BoredApe owner had to actively interact with the airdrop smart contract. This surge in interactions led the gas price of Ethereum to climb…

Non-fungible tokens (NFTs) have come a long way and have captured the zeitgeist over the last few years. Mainstream focus has been primarily on profile picture (“PFP”) projects, catalyzed by growing attention (and value) of CryptoPunks and Bored Ape Yacht Club. Skyrocketing Prices for CryptoPunks and BAYCs…

Alternative smart contract blockchains continue to gain traction. Whereas Ethereum used to command >95% of market share in total locked value (TVL) at the beginning of last year, it now holds only ~65% market share today. TVL by Chain — Share of Total

Introduction One of the most pressing challenges that the Ethereum network faces is scalability. This issue was first evident during the viral CryptoKitties in 2017 — the sensation led to a six-fold increase in total network requests, resulting in transactions taking hours to confirm. More recently, the Cambrian explosion of applications…

In the short history of EVM/Solidity smart contracts, we have seen a plethora of reentrancy attacks. On August 15, 2021, we identified yet another one in Dexfolio’s LP Farming contract running on the BSC network and reported our findings through the bug bounty platform, ImmuneFi. …

Introduction The internet was created without a native identity layer for people. Because of this, the issue of digital identity was relegated to websites and applications. This siloed approach may have been appropriate for the early days of the internet, but with billions of people now online, its drawbacks are becoming…

In the summer of 2020, Chef Nomi (@NomiChef) [1] presented the MasterChef contract [2], one of the most redeployed contracts during the initial wave of DeFi mania. Many DeFi projects tweaked and re-deployed the MasterChef contract to build their yield farming features. However, some of them made mistakes while altering…