DeFi ‘circuit breaker’ could slash hack losses by 70%: Finance Redefined

Most tokens traded in the exact same variety as the previous week, with a minor bearish correction.ETH DeFi “circuit breaker” could cut hack losses by 70%– DeveloperA decentralized finance “circuit breaker” could have prevented billions of dollars worth of crypto from being stolen from DeFi protocols in 2022, according to the designer of the freshly released ERC-7265 proposal.A brand-new ERC proposition was published on GitHub on July 3. It essentially intends to set a standard for a wise agreement that can halt suspiciously large token outflows from a DeFi protocol.Continue readingBarnBridge DAO calls stop to “all work” on DeFi procedure amidst SEC probeBarnBridge DAO members have been told to pause “all work” related to the project after a reported probe by the SEC.In a July 6 post on the platforms Discord channel, Douglas Park, a legal representative for the decentralized self-governing organization, revealed the news to members. The total worth locked in DeFi protocols stayed listed below $50 billion.Thanks for reading our summary of this weeks most impactful DeFi developments.

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