- Binance decides not to acquire FTX.com.
- MetaMask releases a bridge aggregator.
- DeFi Saver automated stop loss feature.
- Mirror Optimism NFTs to Ethereum.
Optimism Highlights 🔴✨
Optimism NFT Mirror Tool
Optimism developer Kelvin Fichter released Magic Mirror, a tool that mirrors Optimism NFTs to Ethereum Mainnet. The purpose of the tool is to allow Optimism NFTs to be used as a verified NFT PFP on Twitter, which currently only supports Ethereum NFTs. The tool is also open-source and capable of mirroring NFTs on any Ethereum-based chains.
Binance Backs Out Of Deal To Acquire FTX.com
Binance backed out of a deal to acquire its rival FTX.com, citing reports regarding mishandled customer funds, alleged US agency investigations, and findings from its corporate due diligence. In a statement, Binance said they hoped to be able to support FTX’s customers, but the issues are beyond their control or ability to help. The decision comes a day after Binance signed a LOT to acquire FTX.com. In a memo to staff, Binance CEO CZ said the situation “is not a win” for Binance. According to the WSJ, Sam Bankman-Fried told investors that FTX is short by as much as $8 billion. FTT is down by more than 80%, currently worth less than $4.
SEC And CFTC Launch Probe Into FTX
According to Bloomberg, the SEC and the CFTC is investigating FTX over its handling of client funds and lending practices. The SEC has been investigating FTX.US since August over the listing of securities on its exchange. The new probe is reportedly looking into FTX’s liquidity crisis and relationship with Alameda Research. Regulators are also looking into the overlap between management, financials, and the segregation of customer accounts. FTX CEO Sam Bankman Fried deleted a tweet in which he stated “assets are fine” and FTX “has enough to cover all client holdings.” FTX.com was the world’s fourth-largest cryptocurrency exchange prior to the crisis.
MetaMask Releases Bridge Aggregator
MetaMask launched a bridge aggregator on its portfolio dapp. The aggregator is powered by LI.FI and Socket’s Liquidity Layer (SLL), which unifies liquidity across chains and allows dapps to configure bridges and networks. The aggregator optimizes for the best bridging route based on either cost or speed. MetaMask enabled bridging support between Ethereum, Avalanche, Binance Smart Chain, and Polygon and selected Connext, Hop, Celer, and Polygon’s native bridge as initial bridges. A limit of $10k per transfer has also been set during the beta release. The wallet provider is also offering zero MetaMask fees during the beta period. MetaMaska also plans to add support for additional chains in the future, including Arbitrum and Optimism.
DeFi Saver Automated Stop Loss For Aave
DeFi Saver introduced automated stop loss and take profit features for Aave V3 positions on Arbitrum and Optimism. The features allow users to set a threshold at which their positions will automatically fully close. Users can configure automated stop loss with a DeFi Saver recipe to protect positions against liquidation or steep downtrends. The take-profit feature allows users to capture profits amid market rallies. DeFi Saver also supports the features for positions on MakerDAO. More than 300 automated transactions have been executed on the platform during this week’s market turmoil. DeFi Saver is a dashboard for managing assets across multiple protocols.