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  • Solana Weekly Recap: Issue No.1 | August 05 - 11, 2023

Solana Weekly Recap: Issue No.1 | August 05 - 11, 2023

Cypher DEX loses $1 million in exploit; PayPal's $PYUSD initiative with Solana halted after FTX collapse; Tensor's "Tensorians" flip Bored Ape Yacht Club in 24-hour NFT volume.

🚨 August 07, 2023 - Cypher DEX Exploit: Solana-based DEX, Cypher, faced a security incident, losing nearly $1 million in crypto. The protocol's contracts are currently frozen as efforts to negotiate a fund return with the hackers are underway.

⏸️ August 07, 2023 - PayPal's $PYUSD and Solana: Issued on the Ethereum blockchain, PayPal's newly launched stablecoin $PYUSD had plans to debut on Solana in collaboration with FTX in 2022. However, due to the collapse of FTX, the initiative was halted.

πŸ–ΌοΈ August 08, 2023 β€” FRAKT Supports Tensor with cNFTs Lending: NFT lending protocol, FRAKT, announces lending/borrowing against Tensor’s "Tensorian" NFTs.

πŸ–ΌοΈ August 08, 2023 β€” Tensor Launches cNFT Collection: Solana NFT marketplace, Tensor, launches public mint of its compressed NFTs (cNFTs) collection.

βœ… August 08, 2023 - Phantom Introduces Auto-Confirm: Web3 wallet Phantom introduces "Auto-Confirm" feature to allow for automatic transaction signing. Initially available for trusted apps such as Magic Eden, OpenSea, and Tensor.

βœ… August 08, 2023 β€” Solflare Wallet Update: Solflare Wallet launches "Auto-Approve" functionality, streamlining connections with trusted decentralized applications (dApps).

πŸ”„ August 08, 2023 β€” Nexo Supports Solana Transfers: Crypto lending platform Nexo now offers native Solana deposits and withdrawals.

πŸ“± August 09, 2023 - Saga's Price Cut: Solana's Android phone, Saga, is now priced at $599, down from $1000, in an effort to boost mobile Web3 adoption.

🀝 August 09, 2023 - Sharky & Honey Merger: Sharky acquires NFT lending platform, Honey, to accelerate and expand protocol development, as well as broaden outreach.

πŸ“ˆ August 09, 2023 - Tensorians Flip BAYC: Tensor's "Tensorians" collection surpasses Bored Ape Yacht Club (BAYC) in 24-hour NFT sales volume.

πŸŽ™οΈ August 10, 2023 - Podcast with Solana Labs Co-Founder: The co-founder of Solana Labs, Anatoly Yakovenko, discusses Solana's trajectory, layer 2 hurdles, hardware scaling, and more in a Lightspeed podcast episode.

🀝 August 11, 2023 - Burnt Partners with Bonfida: Burnt integrates Bonfida's Solana Name Service (SNS) into its XION products to enhance decentralized identities.

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