Curve
Aave proposes governance changes after failed $60M short attack
On Nov. 23, one day after Mango Markets exploiter Avraham Eisenberg attempted to use a series of sophisticated short sales to exploit decentralized finance protocol Aave, project contributors have put forth a series of proposals to deal with the aftermath. As told by protocol engineering developer Llama and financial modeling platform Gauntlet both of whom are deployed on Aave: “Over this past week, the user 0x57e04786e231af3343562c062e0d058f25dace9e [wallet associated with Eisenberg] opened a short position on CRV [Curve] using USDC as collateral. At its peak, the user was shorting ~92M units of CRV (roughly $60M USD at today’s prices). The attempt to short CRV on Aave has been unsuccessful, and the user lost ~$10M USD from the liquidations.” Llama wrote that...
Mango Markets hacker allegedly feigns Curve short attack to exploit Aave
As described by analysts at Lookonchain on Nov. 22, tokens of decentralized exchange Curve Finance (CRV) appear to have suffered a major short-seller attack. According to Lookonchain, ponzishorter.eth, an address associated with Mango Markets exploiter Avraham Eisenberg, first swapped 40 million USD Coin (USDC) on Nov. 13 into decentralized finance protocol Aave to borrow CRV for selling. The act allegedly sent the price of CRV falling from $0.625 to $0.464 during the week. Fast forward to today, blockchain data shows that ponzishorter.eth borrowed a further 30 million CRV ($14.85 million) through two transactions and transferred them to OKEx for selling. The team at Lookonchain hypothesized that the trade was conducted to drive down the token price “so many people who used CRV...
Nigerian government borrows over N2 trillion from bond investors in 2020
Leveraging on excess liquidity that persisted in the banking system and the near zero yields on treasury bills (TBs), the Federal Government, through the Debt Management Office (DMO), raised N2.1 trillion from investors in its monthly bond issuance programme in 2020. This represents 33 percent, year-on-year, (y/y) increase when compared with the N1.58 trillion raised by the DMO in 2019. The N2.1 trillion raised in 2020 also represents 31 percent more than the N1.6 trillion funding target for the DMO under the Revised 2020 Budget. Meanwhile, the monthly bond auctions conducted by the DMO in 2020 recorded 275 percent oversubscription, reflecting scramble for the high yielding FGN bonds by investors. Newsmen report on monthly bond auction results show that the DMO offered N1.825 trillion wort...
FRSC urges motorists to exercise patience
The Ifo Unit Command of the Federal Road Safety Corps (FRSC) in Ogun has advised motorists to exercise patience and drive with caution to stem road crashes during the Yuletide. The Commander of the unit, Mr Joshua Ibitomi, gave the advice on Thursday in Ota, Ogun. The Federal Government had on Wednesday declared Dec. 25 and Dec. 28, 2020, as well as, Jan. 1, 2021, as public holidays for the citizens to celebrate Christmas and the New Year festivities respectively. Ibitomi said that the advice had become necessary as motorists are always in a hurry during the festive season to arrive at their destinations without being conscious of the safety measures on the roads. “The FRSC implores motorists to exercise patience and adhere strictly to traffic rules and regulations to avoid carnage on the ...
Kwara announces second wave of coronavirus
The Kwara Medical Advisory Sub-Committee on COVID-19 has announced that a second wave of the pandemic has hit the state. The announcement is contained in a statement issued on Sunday by the committee’s chairman, Femi Oladiji. “Now, there are two epidemiological curves of the disease in Kwara. The first curve peaked between July and August, and then plummeted between September and October, at which stage people thought COVID-19 was winding down. “It is important to state clearly that we now have the second wave of COVID-19 outbreak in Kwara just like a few other states of the country,’’ he said. Mr Oladiji stated that the second curve started early in November with sharp rise in the number of positive cases. He noted that the reasons for the second wave included increase in awareness for vo...
BMW launches new flagship iX electric SUV with 300 miles of range
BMW unveiled its next electric vehicle, the iX SUV, with 300 miles of range and gorgeous minimal interior. The iX is BMW’s technological flagship, meaning it incorporates multiple technologies that will be featured in the German automaker’s upcoming vehicles, mainly electric powertrain and driver interface. The BMW iX will be the first vehicle to feature the automaker’s fifth-generation scalable EV technology, which means it can be adjusted to accommodate vehicles of different sizes and utility. The BMW iX will go into production at the company’s Dingolfing factory, located in Southern Bavaria, Germany, in the second half of 2021 and is scheduled to arrive on US shores in early 2022. BMW didn’t reveal the size of the iX’s battery but says it will be capable of adding 75 miles for every 10 ...
