Weekly Summary (January 2nd)

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

-The Degis campaign on Galxe launched successfully!

We held a campaign with Platypus on Galxe last Monday. We wanted to celebrate our friendship with Platypus in a stylized NFT. The campaign went successfully that the NFT was sold out in 3 hours. We hope that through these campaigns, everyone can have fun as well as win some juicy rewards. More campaigns will be held soon, stay tuned!

Other progress

·New Protocol: we have started voting for Defrost after it was hacked

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

A quiz about Protocol Protection for you to earn some rewards
More products will be launched soon, stay tuned!

Weekly Hack Event

Decentralized-finance protocol Defrost Finance said it was hacked last Friday, though blockchain security firm PeckShield, citing “community intel,” said the exploit may have been a rug pull that made off with $12 million and Certik, another security company, said it had been unable to contact members of the team.
In a tweet thread posted on Sunday, the Defrost team said a first attack used a flash loan to drain funds out of its V2 product. A second larger attack used the owner’s key to exploit V1. The protocol, which offers leveraged trading on the Avalanche blockchain, didn’t say how much had been taken.
PeckShield’s analysis showed the attack used a fake collateral token together with manipulated pricing.