Numoen Introduces Power Tokens

Monday, January 16, 2023

Quick Take

  • Numoen introduces Power Tokens.
  • Arbitrum releases Nitro Node v2.0.10.
  • Fe-Lang launches its second bug bounty contest.
  • DegenScore opens the DegenScore Cafe

Numoen Introduces Power Tokens

Arbitrum-based leverage protocol Numoen introduced Power Tokens, defined as leveraged tokens that provide squared leverage on any token. According to Numoen, Power Tokens on the protocol offer full autonomy, permissionless markets, and slippage-free redemptions. Users can take on up to 16x leverage with Power Tokens.

Power Tokens rebalance at every price to the power of two, resulting in a quadratic payoff. Unlike most perpetual platforms, Power Tokens are not synthetic and instead represent a claim on underlying assets upon redemption. This LP-like model allows users to post collateral without the risk of liquidation. Numoen is currently in its second audit.

Arbitrum Nitro Node v2.0.10 Release

Arbitrum released Nitro v2.0.10, an upgrade to its node software. The upgrade includes support for RPC queries with the safe and finalized block numbers, which represent the latest L2 block that has been posted to L1. Nitro v2.0.10 also includes Anytrust IPFS node sync, various bug fixes, and performance improvements.

The new changes are meant to mirror Ethereum’s state of block finality. Although not urgent, Nodes are advised to upgrade when possible. The release is available as a Docker image on Docker Hub. Nitro was first deployed to mainnet in August 2022 and provides better EVM compatibility, lower gas fees, and faster transactions.

Fe Lang Bug Bounty Contest

Fe Lang, a new smart contract programming language, launched its second bug bounty contest. The challenge includes puzzles that have been deployed in an unsolvable game state. The first hacker to successfully change the state to solved gets a prize of 3 ether. A lock deposit of 0.1 ETH is required for the challenge.

The hack involves exploiting a bug in either the implementation of the game or in the Fe language directly. Fe launched an initial bug bounty contest in December, which was exploited through a flaw in the Fe -> Yul -> EVM compile chain. The bug has since been patched and the entire challenge was redeployed.

DegenScore Cafe Now Open

On-chain scoring platform DegenScore released the DegenScore Cafe, a portal for tracking wallet opportunities. Users can connect any Ethereum address to view claimable NFTs and early access programs. Current opportunities include the Ethereum KZG ceremony and the Gearbox V2 product launch.

The release is currently in beta and available to all users. DegenScore is an identity platform that generates a score based on wallet interactions with DeFi smart contracts. Users with a DegenScore above 700 can mint The Beacon, which is a soulbound token (SBT) used to document a user’s participation across DeFi.

Defillama DEX Hits $250 Million In Volume

Defillama’s Meta DEX Aggregator has processed more than $250 million in swap volume. Defillama launched its DEX aggregator earlier this month, which optimizes the best swap route among eight different DEX aggregators. The aggregator supports 22 chains and verifies quotes and gas costs independently.