Arbitrum (ARB) and Aave (AAVE) are two of the most successful projects in Ethereum’s history up to this point; however, TMS Network (TMSN) may be the future of Ethereum based on the success of its token presale, which is currently in its fourth phase. TMS Network (TMSN) has already raised more than $6 million, and the project is showing no signs of slowing down.
TMS Network (TMSN)
TMS Network (TMSN) is a first-of-its-kind decentralized finance (DeFi) application that combines the power of Ethereum’s smart contracts with the feature set of a traditional crypto exchange. On TMS Network (TMSN) DeFi traders will have access to social trading feeds, trading signal offerings, trading bot automation, and much more on a decentralized exchange (DEX).
While the feature set of TMS Network (TMSN) is impressive, its key advantage is the high level of transparency and security that is made possible by building TMS Network (TMSN) on top of a decentralized blockchain like Ethereum. Regular security audits and the use of multisig wallets also bring more peace of mind to TMS Network (TMSN) users; however, the most incredible feature of TMS Network (TMSN) is insurance for users’ crypto holdings on a DEX.
Of course, anyone who wants to join the TMS Network (TMSN) community can also earn some passive income along the way, as TMS Network (TMSN) token holders earn a portion of the revenue generated by the exchange.
A flash loan exploit has resulted in a loss of $7.5 million worth of Ether (ETH) from Jimbos Protocol, a decentralized finance (DeFi) Arbitrum (ARB) project that aims to create a token with a stable floor price. The hacker used a complex series of Arbitrum (ARB) transactions to manipulate the price of JIMBO and drain the protocol's treasury.
Jimbos Protocol is built on Arbitrum (ARB). The protocol on Arbitrum (ARB) uses a portion of its treasury to buy back JIMBO tokens whenever their price falls below a certain threshold, creating a price floor. The protocol also rewards users who deposit ETH into its treasury on Arbitrum (ARB) with JIMBO tokens.
The hacker exploited a vulnerability in the protocol's Arbitrum (ARB) smart contract that allowed them to mint an arbitrary amount of JIMBO tokens and sell them at an inflated price. The hacker then used the borrowed ETH to buy JIMBO tokens from Jimbos Protocol on Arbitrum (ARB), driving up their price. The hacker then sold the newly minted JIMBO tokens on Arbitrum (ARB) at the higher price, earning a profit.
The Aave (AAVE) community has decided to expand Aave (AAVE) to the Metis Network, a layer-2 solution for Ethereum. This will allow Metis users to access Aave's (AAVE) features, such as borrowing and lending with low collateral and high efficiency. Aave (AAVE) V3 was launched on the Ethereum mainnet in January 2023 and has since been deployed on several other layer-2 networks, such as Avalanche, Arbitrum (ARB), Optimism, and Polygon.
The deployment of Aave (AAVE) on Metis is expected to increase the liquidity and adoption of Aave (AAVE) and Metis. To incentivize users, Metis will distribute 100,000 of its native tokens (METIS) to Aave (AAVE) users.
Aave (AAVE) is one of the leading DeFi protocols, with over $5.5 billion in total value locked. By integrating with Metis, Aave (AAVE) aims to offer its users faster transactions, lower fees, and more diverse collateral options.
Whether it’s the Jimbo Protocol on Arbitrum (ARB), Aave (AAVE), or any other DeFi app, it’s clear that security has been a serious issue. With TMS Network’s (TMSN) ongoing presale, additional security measures like smart contract audits and insurance for user funds provide a safe and stable environment to conduct trades at.
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