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Produced by Daniel Aharonoff & Mogul Media AI

Solana Wallet Drainer Attacks: BONKbot Denies Claims

Surge of Wallet Drainer Attacks on Solana: A Closer Look The recent spate of wallet drainer attacks on the Solana blockchain has sent ripples of concern throughout the crypto community. With reports pouring in of compromised wallets emptied of SOL, many are now questioning the integrity of trading applications, particularly the popular BONKbot, which operates within Telegram. Despite the accusations, the BONKbot team vehemently denies any connection to the exploit, attributing the issue to user negligence in handling private keys. Key Highlights Nature of the Attack : The attacks have resulted in the draining of approximately 2,808 SOL , equating to around $523,000 at current market prices. Victim Reports : As of Friday afternoon, 302 victims have been identified, with 113 of them having previously used the BONKbot application. User Responsibility : BONKbot asserts that all affected users had exported their private keys, suggesting that the exploit is rooted in poor securit...
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Produced by Daniel Aharonoff & Mogul Media AI

Maker Protocol's Annualized Revenue Surges to All-Time High: Tokenized RWAs and Attractive Yields Drive Growth

Stablecoin issuer Maker Protocol has experienced a significant surge in annualized revenue, reaching a new all-time high of $203 million. This impressive growth can be attributed to several factors, including increased deposits of tokenized real-world assets (RWAs) and higher yields for DAI holders.

Tokenized RWAs are crypto tokens that are backed by physical or real-world financial assets such as stocks, government bonds, real estate, or art. MakerDAO, the organization behind the Maker Protocol, has seen its RWA deposits soar past $3 billion, accounting for 42.7% of the protocol's total deposits. This influx of RWAs has been instrumental in driving revenue growth.

Two specific vaults, Monetalis Clydesdale and BlockTower Andromeda, which purchase short-dated United States Treasury notes, make up more than three quarters of the RWA deposits within the Maker Protocol. The increase in U.S. treasury yields this year, resulting from higher benchmark interest rates set by the Federal Reserve, has played a significant role in boosting the protocol's revenue.

Furthermore, DAI holders have also benefited from increased yields through the DAI Savings Rate (DSR) mechanism via the Spark Protocol. The DSR generates yields for DAI holders by utilizing the protocol fees paid by users who deposit assets into Maker to mint new DAI. Currently, the DAI deposited into the Spark Protocol, represented as sDAI, accounts for 31.3% of DAI's total supply, amounting to $1.7 billion.

Overall, Maker Protocol's impressive surge in annualized revenue showcases the success of its focus on tokenized RWAs and attractive yields for DAI holders. As the protocol continues to attract more collateral and benefit from increased treasury yields, it is well-positioned for continued growth and success in the stablecoin market.

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