Weekly Summary (January 16th)

Hi Degison! Hope you’re having a great week.

Come and check our weekly progress summary to stay tuned! After reading the summary, you can take a questionnaire and we will select 10 Degisons to win 60$DEG reward each!

Highlight of this week

-We just launched our third campaign on Galxe!

We are excited to announce that we launched our third campaign on Galxe! We want to celebrate our friendship in a stylized NFT! We hope every loyal member of Degis can have fun as well as win some juicy rewards! More campaigns will be held. Stay tuned!

Other progress

·Quiz: daily pop-up quiz is coming with a reward of 5DEG each

What we’re doing now

Development team

· New product: the development team is continuously monitoring Protocol Protection to make sure it works smoothly for our users

· Degis website: the development team is optimizing the official website in a more user-friendly way

Marketing team

· Events: more AMAs in multi-language for everyone to have a deeper insight into Degis and our products

· Collaborations: more partnerships to cover every risk in the crypto world and make Web3 a safer place for everyone

· Campaigns: more community campaigns will start, prepare to have fun and earn some juicy rewards

What to expect next week

More products will be launched soon, stay tuned!

Weekly Hack Event

Mango Markets is a popular trading platform based on the Solana blockchain. In October 2022, a user drained the platform to the tune of over $100 million by temporarily driving up the value of their tokens and taking a loan using the inflated tokens as collateral. The user took advantage of an exploit in the platform’s code to manipulate the price of their tokens to receive the loan. They successfully took out a $116 million loan in a mix of tokens including USDC, SOL, BTC, and USDT.

Unlike in most cases, the person who took advantage of this exploit revealed themselves on Twitter. Mango Markets offered a deal for the hacker to return $67 million in exchange for not pressing criminal changes and they obliged. Yet, in December, the hacker was indicted by the U.S. Justice Department for fraud and arrested in Puerto Rico.