The Solana Foundation has introduced a new governance framework, Solana Governance Proposals (SGPs), allowing validators to submit and vote on core protocol decisions on-chain. This aims to decentralize decision-making and reduce reliance on centralized coordination.
The Solana Foundation launched Frontier Traders, a program offering VIP rebates and infrastructure support to professional traders. It aggregates activity across Solana venues, aiming to make the chain itself a competitive trading surface, akin to how large centralized exchanges attract flow.
The Solana Foundation is collaborating with the World Series of Poker (WSOP) to allow crypto buy-ins and stablecoin payouts for tournament prizes. MoonPay will provide the payment infrastructure, offering zero processing fees for Solana-based transactions. Stablecoin payouts begin in December at WSOP Paradise in the Bahamas.
Shinhan Card signed a deal with Solana Foundation to expand stablecoin payment tests and explore non-custodial wallets and DeFi-based services.
AAVE, the native token of the Aave DeFi platform, is now available on the Solana blockchain network. The move will give Solana users access to one of the largest lending protocols in decentralized finance without leaving the network. This came less than two days after the Solana Foundation revealed that it would deploy part of […] The post Latest $290M exploit hit DeFi so hard it forced Aave onto Solana as part of rescue efforts appeared first on CryptoSlate.
AAVE, the native token of the Aave DeFi platform, launches on Solana less than two days after the Solana Foundation committed treasury funds to support Aave's recovery from the $292 million KelpDAO rsETH exploit. The April 18 exploit exploited a LayerZero bridge vulnerability, allowing attackers to redeem unbacked rsETH as collateral across Aave, Compound, and Euler, causing WETH utilization to hit 100% and triggering $12 billion in outflows from Aave. The Solana Foundation is lending USDT to Aave as part of DeFi United, a recovery vehicle with nearly $240 million in commitments from major DeFi participants.
