Research Summary
The report provides an overview of the latest developments in the DeFi sector, focusing on the performance of HMX, a platform offering up to 1000x leverage on Crypto, Forex, and Commodities. It also covers updates and upgrades in DeFi, news, on-chain data, macro metrics, and recent exploits and bugs.
Key Takeaways
HMX’s Performance and Features
- HMX’s Unique Offering: HMX provides up to 1000x leverage on Crypto, Forex, and Commodities, with features like subaccount support, instantaneous execution, one-click trading, and on-chart trading. It has achieved ~$7Bn in total trading volume and ~$29Mn in TVL since its Open Beta launch in late June.
- Security Measures: HMX has undergone three security audits conducted by Cantina, WatchPug, and Foobar, ensuring the integrity and safety of the codebase.
Updates & Upgrades in DeFi
- Starknet v0.13.0: The report mentions the launch of Starknet v0.13.0 on the testnet.
- Uniswap’s Bitcoin Integration: Uniswap, a popular decentralized exchange, is reportedly coming to Bitcoin.
Vital News
- JPMorgan’s Ethereum Prediction: JPMorgan predicts that Ethereum will likely outperform Bitcoin next year.
- U.S. CFTC’s Approval: The U.S. Commodity Futures Trading Commission (CFTC) has approved Bitnomial’s derivatives clearing application.
Exploits & Bugs
- Yearn Treasury’s Loss: Yearn treasury reportedly suffered significant losses.
- OKX DEX’s Exploit: OKX DEX suffered a Private Key Leakage Attack and was exploited for $2.76M.
Actionable Insights
- Monitor HMX’s Performance: Given HMX’s unique offering and impressive performance since its Open Beta launch, it may be worthwhile to keep an eye on its future developments and performance.
- Stay Updated on DeFi Developments: With the continuous updates and upgrades in the DeFi sector, staying informed about these changes can provide insights into potential trends and shifts in the market.
- Consider JPMorgan’s Ethereum Prediction: JPMorgan’s prediction that Ethereum will likely outperform Bitcoin next year could be a significant factor to consider when analyzing the crypto market.
- Be Aware of Security Risks: The exploits and bugs reported highlight the importance of being aware of the security risks in the DeFi sector and the need for robust security measures.
