Key Features of Vader Protocol

VADER and USDV

• USDV is minted or burned through the VADER token, ensuring stability.
• USDV serves as the transaction asset within liquidity pools.

Advantages for Liquidity Providers

• Impermanent Loss Protection (ILP): Protects liquidity providers from impermanent loss over 100 days.
• Synths: Single-sided liquidity positions without impermanent loss.
• Slip-Based Fees: Maximizes fee income for liquidity providers through Continuous Liquidity Pools (CLPs).

Liquidity Incentives

• Liquidity incentives and Protocol-Owned Liquidity (POL) are funded through bond sales.
• These incentives bolster the protocol treasury’s reserves, enhancing USDV’s purchasing power.

Core Components of Vader Protocol

Vader Protocol combines revolutionary DeFi ideas:

1. LUNA/UST stablecoin mechanism from Terra Money
2. CLP and ILP AMM model from THORChain
3. Bond Sales mechanism (POL) from Olympus Pro

This integration aims to foster the growth of a truly decentralized stablecoin on the EVM.

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Investors and Collaborations

The Vader Protocol ecosystem offers innovative solutions across a wide range of initiatives, from venture projects to community collaborations. While DeFi protocols and Web3 projects stand out in the venture projects category, community-driven projects also play a crucial role. Among these, notable examples include Naboo Finance, Boot Finance, and the ecosystem’s NFT-based initiative, inVaders NFT, all integrated with Vader Protocol.

The ecosystem’s partnerships include Aphra Finance, which plays a significant role in growth and integration initiatives. Additionally, through collaborations with platforms like Curve Finance (USDV and 3CRV pools), Uniswap V2 (VADER/ETH trading pair), and Wild Credit (VADER/ETH lending pool), the protocol ensures deep and sustainable liquidity.

Vader Protocol also plans to implement cross-chain integrations in the future, aiming to expand both liquidity and use cases. The ecosystem is supported by prominent DeFi investors such as Yield Ventures, Mechanism Capital, and The Spartan Group, as well as by Multisig Public and Team members like 0xAnakin and 0xStormtrooper.

VADER Tokenomics

• Total Supply: 25,000,000,000 VADER
  • 30% (7,500,000,000): Fair launch to VETH holders
  • 50% (12,500,000,000): Liquidity incentives
  • 10% (2,500,000,000): Ecosystem growth and partnerships
  • 10% (2,500,000,000): Team allocation with a 2-year vesting period

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Although flagged as a scam by many users, the app continues to trend in regions such as Europe, Latin America, New Zealand, the United States, and Southeast Asia, putting unsuspecting users at risk.

The poorly written store description still has a negative impact on vulnerable users. The description reads: “Curve defi v3 is a great app. Arrange the blocks, create a perfect sequence, and clean up!”

Preview of the fake Curve Finance app on Apple’s store. Source: Apple

Response Awaited from Curve Finance

Cointelegraph reached out to Curve Finance for comment but did not receive a response before publication.

This fraudulent app, labeled “Fake Curve Finance,” was created by a developer named Tao Duong Van and misleads users by copying the Curve Finance logo and functionality of the real platform.

While the app claims to offer features such as token swaps, liquidity staking, and DeFi services, all reviews rate it one out of five stars, using terms like “scam” or “hack.”

One image in the app falsely claims it has “30 million global users” to establish fake credibility.

Fake Curve Finance Social Media Alert

The fake Curve Finance app was highlighted on the X platform by fintech engineer and app store fraud identifier Babu. His tweet, one of the first to identify the issue, tagged the official Curve Finance account, warning users to “stay vigilant and report suspicious apps!”

Currently, users are advised to report the fake app and avoid interacting with it while it remains available in the Apple app store.

Not the First Time, According to Babu

This is not the first time a fake app mimicking Curve Finance has appeared on Apple’s official app store.

On February 14, Curve Finance warned the X community to “beware of scams” and clarified that no DeFi Curve app existed in the app store. The unauthorized app listed at that time was created by a developer called MK Technology, presenting itself as a “powerful app for managing loans and credits” and had a 4.6-star rating with only nine reviews.

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This partnership between the TON Foundation and Curve Finance will leverage Curve’s CFMM (Fixed Function Market Maker) technology to optimize stablecoin swaps. This technology will reduce price slippage, providing users with a better trading experience. TON Foundation’s DeFi leader Vlad Degen emphasized the importance of this partnership, stating that more stablecoins and assets from different chains will soon be seen on the TON blockchain.

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This development comes at a time when demand for stablecoins on the TON blockchain is rapidly increasing. In particular, since the launch of USDt on TON, net circulation has reached approximately $730 million. The new stablecoin exchange platform is expected to meet this growing demand, increasing liquidity and accelerating adoption in TON’s Web3 ecosystem.

The project will be managed by an independent team selected through a transparent process by the TON community, with Curve Finance founder Michael Egorov serving as advisor to the team.

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What is EPX Coin?

EPX Coin is a decentralized exchange protocol on the Binance Smart Chain that facilitates quick and secure swaps between pegged tokens. As a fork of the Curve Finance protocol, EPX leverages an AMM model based on pegged token pools. It combines the benefits of Curve Finance with the low transaction fees and high performance of the Binance Smart Chain.

EPS, the native token of EPX, plays a crucial role in the governance and incentives of the protocol. EPS holders have voting rights on the protocol’s future developments and receive a portion of the swap fees generated by the protocol. Additionally, EPS is used to incentivize users to provide liquidity to EPX pools, allowing them to stake their EPS tokens and earn rewards.

EPX aims to become a leading protocol in pegged token swaps. It offers a user experience similar to Curve Finance while benefiting from the opportunities provided by the Binance Smart Chain. The protocol seeks to contribute to the growth of the pegged token market and increase the accessibility of decentralized finance (DeFi).

Who Founded EPX Coin?

EPX Coin was founded by Ajay Chakravarthy, who serves as the CEO. Ajay Chakravarthy is an entrepreneur with over 14 years of experience in product and business development.

Although EPX is still in its early stages of development, the project has attracted significant attention. Since its inception, Ellipsis Finance has made a notable impact. The protocol has the potential to rise further in the DeFi ecosystem in the future.

How and Where to Buy EPX Coin?

EPX Coin can be safely bought and sold on Binance, the world’s largest cryptocurrency exchange.

To purchase EPX Coin, you must first sign up for an account on the Binance exchange. After completing the registration process, you will need to transfer cryptocurrency or fiat currency, such as Turkish Lira, to your Binance wallet. Once the transfer is complete, you can buy EPX Coin using the available trading pairs.

To buy EPX through the EPX/USDT trading pair on Binance, navigate to the trading interface for this pair. Enter the amount you wish to purchase in the limit order section and complete the transaction by placing a “Buy EPX” order.

By following these steps, you can purchase EPX Coin through a reliable platform like Binance and become part of the Ellipsis ecosystem.

Future Prospects of EPX Coin

The future of EPX Coin holds great potential in the cryptocurrency market. Ellipsis Coin operates as an automated market maker (AMM) and liquidity provider within the decentralized finance (DeFi) space. Built on the Binance Smart Chain (BSC), Ellipsis Coin offers low transaction fees and high performance. The platform provides various services, including fixed-income products, stablecoin swaps, and synthetic assets, positioning itself as an innovative and reliable solution in the crypto sector.

EPX Coin Reviews

EPX Coin is a prominent player in the decentralized finance (DeFi) sector. As a clone of the Curve Finance protocol, which operates on the Ethereum network, Ellipsis Coin allows users to swap various stable-priced cryptocurrencies with low fees and high efficiency. Additionally, it offers incentive mechanisms for liquidity providers. EPX Coin is traded under the symbol EPS, with a total supply of 1 billion tokens.

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Pseudonymous cybersecurity researcher Marco Croc of Kupia Security has identified a reentrant vulnerability in decentralized finance (DeFi) protocol Curve Finance. In an X thread, he explained how the bug could be exploited to manipulate balances and withdraw funds from liquidity pools.

Marco Croc explained that Curve Finance acknowledges potential vulnerabilities and “recognizes the severity of the vulnerability.” After a thorough investigation, Curve Finance awarded Marco Croc the maximum error award of $250,000.

According to Curve Finance, the threat was not classified as “very dangerous” and they believed that they would be able to recover the stolen funds in such a situation. However, the protocol noted that a security incident of any scale “might have created serious panic.”

Curve Finance survived a $62 million hack in July. As part of returning to normalcy, the DeFi protocol voted to compensate liquidity providers (LPs) worth $49.2 million in assets.

On-chain data confirms that 94% of token holders have approved the distribution of over $49.2 million worth of tokens to cover losses of Curve, JPEG’d (JPEG), Alchemix (ALCX), and Metronome (MET) pools.

According to Curve’s proposal, the community fund will provide Curve DAO (CRV) tokens. The final amount includes a deduction for tokens recovered since the incident.

“In total, the recovery of ETH 2,887 was calculated to be 5919.2226 ETH, the CRV to be recovered was calculated to be 34,733,171.51 CRV, and the total to be distributed was calculated to be 55,544,782.73 CRV,” the proposal states.

The attacker exploited a vulnerability in stable repositories using some versions of the Vyper programming language. The bug made Vyper versions 0.2.15, 0.2.16 and 0.3.0 vulnerable to reentrant attacks.

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GRT Price Analysis:

While interest in artificial intelligence-based cryptocurrencies is increasing day by day, GRT also offered gains to its investors in its rally. According to CoinMarketCap data, GRT, which has risen over 4 percent in the last 24 hours, is currently trading at $ 0.39.

While the search for direction in GRT will be determined by Bitcoin’s movement, a positive divergence from the market can be seen in this area, with increasing interest in artificial intelligence-based interest and increased investment in this area by institutions. However, the resistance level in GRT appears as the 0.4 and 0.42 dollar band. The support level is 0.36 dollar level.

CRV Price Analysis:

According to TradingView data, CRV, which has risen about 1 percent in the last 24 hours, is currently changing hands at $ 0.67.

While the support level in CRV appears as the $ 0.63 level, the resistance level appears as the $ 0.69 band.

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The proposal suggests raising the AMM fee from 0.6% to 1.9%, a move aimed at benefiting borrowers utilizing the protocol. This adjustment aims to alleviate ‘soft liquidation losses’ incurred during spikes in Ethereum gas fees, ultimately enhancing the overall user experience.

As with other public blockchains, Ethereum relies on a network of validators to validate transactions and ensure network security. These validators charge fees, payable in ETH, which fluctuate based on demand levels. Gas fees typically surge during periods of heightened prices and on-chain activity.

According to YCharts data, the average Ethereum gas fee stood at 63.68 GWei as of March 11, a notable increase from around 22 GWei in early January.

With Ethereum prices nearing $4,000 and the total value locked (TVL) in decentralized finance (DeFi) nearing $100 billion, gas fees are expected to escalate further.

Benefiting Curve Finance Borrowers

This scenario directly impacts user experience and could potentially lead to increased soft liquidations for LLAMMa borrowers.

The proposed fee increase aims to establish a buffer, thereby reducing losses incurred by arbitrage traders who must contend with high gas fees to execute their trades.

The adoption and execution of the proposal remain uncertain. Currently, voting is open and scheduled to conclude on March 16.

As per DeFiLlama data on March 11, Curve Finance stands as one of the largest DeFi platforms, managing over $2.9 billion in assets and ranking as the 13th largest, following platforms like Uniswap and EigenLayer. While most activities occur on Ethereum, a notable portion is managed on Arbitrum, a layer-2 scaling solution.

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On-chain data confirms that 94% of token owners approved token payments exceeding $49.2 million on December 21 to cover losses of Curve (CRV), JPEG (JPEG), Alchemix (ALCX), and Metronome (MET) pools.

The calculation of losses includes the number of Ethereum and CRV tokens in the pools before the attack as well as the missed CRV emissions to be distributed to liquidity providers in recent months. According to Curve’s offer, the community fund will supply Curve DAO (CRV) tokens. The set amount also includes a deduction for the tokens recovered since the event.

In this offer, it is stated, “The total recoverable amount was calculated to be 5919.2226 ETH and 34.733.171,51 CRV to be recovered, with a total of 55.544.782,73 CRV to be distributed.”

The security incident occurred on July 30, and several DeFi protocols were subjected to stress tests in the following days due to concerns about the impact of the attack on the crypto ecosystem. In July, Curve Finance’s total locked value (TVL) was approximately $4 billion. The affected pools included alETH/ETH, pETH/ETH, msETH/ETH and CRV/ETH.

Hacker used Vyper (Curve Finance)

In Curve Finance’s proposal, it stated, “Even if funds stolen in each pool have been either fully or partially recovered, MEV bots left a deficit in all affected pools, and this improvement proposal aims to make affected LPs whole.”

The hacker exploited a security vulnerability in stable pools using some versions of the Vyper programming language, a popular choice for DeFi protocols because it’s designed for EVM. The bug made Vyper’s 0.2.15, 0.2.16 and 0.3.0 versions susceptible to reentrancy attacks.

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Biconomy (BICO) offers the following solutions to overcome the difficulties in web3 infrastructures:

• Protocols can carry out user transactions without any Gas fee.
• Users can make Gas payments with any token they prefer in the ERC-20 standard.
• Complex blockchain structures caused by changes in the network are not reflected to the users.
• Transactions are confirmed much faster.

Biconomy can reduce transaction costs by up to 40% by focusing on transaction management and Gas fee optimization. To achieve this goal, the protocol enables users to make transactions without paying Gas by using meta transactions and does not need third-party service providers. Biconomy accomplishes these by a relay infrastructure that does not offer custody service and makes Gas usage more efficient.

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Who is the Founder of Biconomy?

Biconomy (BICO) is a blockchain initiative established by an international team. One of the founders of the project, Ahmed Al-Balaghi, is a graduate of Queen Mary University and has international experience in the blockchain sector, including China, the UK, and the United Arab Emirates. In the earlier stages of his career, he worked for the leading Chinese blockchain company Viewfin.

The other two founding partners are Sachin Tomar and Aniket Jindal, Indian blockchain entrepreneurs with a background in software engineering and who have previously worked on blockchain projects in the United Arab Emirates.

Big blockchain venture capital companies, such as Coinbase Ventures, Binance Launchpad, Mechanism Capital, and Huobi Ventures, actively support Biconomy.

Features That Make the Project Different

Biconomy (BICO) offers a unique solution to a problem frequently encountered in the blockchain space. Interaction with decentralized applications is generally more complex and costly compared to web2 applications, and there are several reasons for this. For example, while web3 applications may require Gas fees for transactions, web2 applications generally do not demand such a fee.

Users must pay gas fees on the Ethereum network with ETH, even if they do not wish to use Ether. Also, the use of web-based wallets may require some technical knowledge in matters such as transaction signing and spending Gas, which can make it difficult for new users to participate.

BICO is actively providing a relayer infrastructure network to address this problem, and various popular protocols are already utilizing this technology:

• Curve Finance uses Biconomy to offer meta BTC deposit management transactions without a Gas fee. This allows participants to use their idle BTC accumulations without paying a Gas fee for the purpose of swapping with RENBTC.
• Perpetual Protocol, thanks to Biconomy, carries out buying and selling transactions on the xDAI chain without a Gas fee. Users can also conduct secret blockchain transactions without needing to reconfigure their web-based wallets.
• Decentral Games offers users a seamless gaming experience by removing Gas fees through Biconomy. Users only transact with the in-game currency, and MATIC tokens may not be required in transactions on the Polygon blockchain where Decentral Games is present.
• Sapien Network serves as a social blog platform and makes it possible to transact without paying a Gas fee thanks to Biconomy. Blog writers can make SPN transactions on the platform for free.

Biconomy thus makes the web3 ecosystem more user-friendly by facilitating participation in decentralized applications.

Biconomy Technical Analysis

When we take a close look at the Biconomy (BICO) chart, it currently shows an increase of 32%. If Bico can consider the current price region of $0.2670 as support, it may continue to rise towards the interim resistance level of $0.3150. This could be a positive development for investors.

However, if Bico cannot solidify the support level of $0.2670 and if this rise is only temporary, we may see a decline towards lower levels such as $0.2220 in the future. Therefore, it is important to closely follow how the price addresses these support levels.

Technical analysis can be a guide to predicting future price movements, but it may not always provide definite results. Therefore, it is important to consider other factors when making investment decisions.

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