Aexlrod

Polymarket has recently officially announced the launch of its native stablecoin PolyUSD, extending its income structure and asset system to its own liquidity medium. Although PolyUSD has not officially launched yet, Predict.fun has already triggered a seismic shift in the industry due to its 'dynamic patch' for the event judgment rules.
In response to the news that Polymarket is about to launch PolyUSD, Predict.fun has supplemented information on the following two markets:
Will Polymarket launch a token by [Date]? (Will Polymarket issue a token by a specific date?)
Polymarket FDV above [Amount] one day after launch? (Will the FDV on the first day of token issuance exceed the specified amount?)

Foreword
Polymarket's acquisition of MLB (one of the four major American baseball leagues) propelled Kalshina's valuation to $22 billion, marking two instances of "recognition" for the market within two days. One occurred within the core official partnership system of American professional sports, and the other occurred in the capital market's repricing of the sector's ceiling.
Previously, Polymarket had secured official partnerships with MLS and UFC. The NHL has also established partnerships with Polymarket and Kalshi. The Big Four leagues in the United States are being conquered by the Prediction Market. At the same time, media and platform interfaces are being rapidly connected into a network, and the Prediction Market is moving towards more frequent, more popular, and more easily understood everyday events.

In November 2024, a total of 21 hacking incidents occurred, resulting in approximately $76.86 million in losses, with $25.5 million recovered. The causes included contract vulnerabilities, account hacks, and price manipulation. Additionally, there were 9,208 phishing victims this month, with losses amounting to $9.38 million.

Major Security Incidents in November

MetaWin
On November 4, 2024, blockchain investigator ZachXBT reported that crypto gambling platform MetaWin was hacked, resulting in over $4 million stolen on Ethereum and Solana chains. According to MetaWin CEO Skel, the attackers exploited the platform’s frictionless withdrawal system to breach MetaWin’s hot wallet.

DeltaPrime
On November 11, 2024, DeFi protocol DeltaPrime was attacked on Avalanche and Arbitrum, with an estimated loss of $4.75 million. The root cause of the attack was the lack of input validation in the reward claim function.

Thala
On November 15, 2024, Aptos-based DeFi project Thala was hacked, resulting in $25.5 million in losses. The attackers exploited a vulnerability in the project’s smart contract. The team halted affected smart contracts and froze approximately $11.5 million in assets. After working with law enforcement and blockchain security teams, the project recovered a significant portion of the stolen funds, allowing the attacker to keep $300,000 as a bounty.

DEXX
On November 16, 2024, several users of the DEXX on-chain trading terminal reported stolen funds. According to SlowMist security team statistics, the losses amounted to $21 million. SlowMist is assisting DEXX and its partners in ongoing investigations. On November 28, SlowMist released data identifying 8,612 attacker addresses on the Solana chain, with attacker addresses on EVM chains to be disclosed after further analysis.

Polter Finance
On November 17, 2024, Fantom-based DeFi project Polter Finance was hacked, incurring losses of approximately $12 million. The attacker exploited a flash loan to deplete BOO token reserves, artificially inflating its price. This allowed them to borrow tokens far exceeding the collateral’s actual value, profiting massively. The platform’s founder stated that they had filed a report with Singaporean authorities and reached out to the attacker via on-chain messages for negotiation, but no response has been received.

AI Poisoning Attacks Alert
While the number of security incidents and associated losses decreased compared to the previous month, the SlowMist security team observed genuine AI poisoning attacks targeting the crypto industry. Developers, in their pursuit of efficiency, may have overly relied on AI-generated code without adequately auditing its security.

#SecureYourProfits #HackerAlert

Explore the latest developments shaking up the crypto industry this week, from surging AI Agent trends to Ethereum ecosystem rallies and evolving market regulations. Stay ahead of the curve with our concise updates!

Hot Topics:
• AI Agents continue to attract users and capital.
• Base Network TVL rises to $11.47 billion, hitting a new high.
• Ethereum surpasses $3,600 for the first time in six months, driving a broad rally in Ethereum ecosystem tokens.
Market Environment
This week, BTC prices corrected after reaching new highs, currently trading above $90,000 at $95,500. The ETH/BTC ratio has been rebounding steadily, hitting a low of 0.0318 and currently at 0.037. Ethereum’s price surge this week has fueled significant gains across Ethereum ecosystem tokens, including $LDO, $ENA, $EIGEN, $ENS, $ARB, and $OP.
Stablecoin market capitalization has reached $191.622 billion, up by $5.132 billion compared to last week.
Fueled by the AI Agent craze, substantial capital inflows have driven Base Network assets to exceed $11.43 billion, making it the second-largest Ethereum Layer 2 solution by total value locked (TVL).

Policy & Regulation Update
Italy Trims Proposed 42% Digital Asset Tax
https://news.wikibit.com/en/202411273584924299.html
Philippines Tightens Reporting Requirements for Virtual Asset Service Providers
https://news.wikibit.com/en/202411281034701246.html

Security Incident Tracking
Pump Science Key Leak Sparks Token Fraud Concerns
https://news.wikibit.com/en/202411273864564494.html
ZachXBT: Over $3.5M Stolen in Recent Hacks Targeting McDonald’s, Kabosu Owner, and Other Social Media Accounts
https://news.wikibit.com/en/202411288044739592.html
#IndustryInsights #EthereumDominance

This article provides a comprehensive overview of the GMT Burning Plan, detailing its logic, project background, opportunities for users, and associated risks.

This article provides a comprehensive overview of the GMT Burning Plan, detailing its logic, project background, opportunities for users, and associated risks.

The GMT Burning Plan allows participants to stake their GMT tokens to earn rewards while voting on whether to burn GMT tokens repurchased from investors and advisors. This initiative aims to reduce token unlocking pressure while generating staking yields.
Event Details
Background: The FSL team has repurchased 600 million GMT tokens from investors and advisors, voluntarily transferring them to GMT DAO for community decision-making.Duration: November 21, 2024 – January 20, 2025 (UTC+0).
Mechanism: Token burning depends on the amount staked: 100 million staked GMT = 60 million burned.500 million staked GMT = 230 million burned.900+ million staked GMT = 600 million burned.
RewardsParticipants staking their tokens will share 100 million GMT rewards from the ecosystem fund, distributed daily over 60 days. The daily pool allocates 1.66 million GMT, proportionate to staked amounts.

Participants who staked their tokens on November 21 have already achieved a week-to-date token yield of 9.77%.

From GameFi to DAO: GMT’s Evolution
GMT was initially introduced as the governance token for StepN, a groundbreaking blockchain project that brought millions into the industry. StepN combines GameFi and SocialFi, incentivizing fitness with token rewards earned through walking or running with virtual NFT sneakers. At its peak, StepN attracted 5.6 million users and achieved 1 million daily active users globally.

In 2022, GMT launched as a Binance Launchpad project and experienced a peak increase of over 20x in the secondary market, though its current price has since adjusted.
Following this, an ecosystem centered around GMT was developed, further enhancing its value:
STEPN GO: Building on the success of STEPN, STEPN GO revolutionizes social fitness in everyday life.Dooar: A multi-chain decentralized exchange.
MOOAR: A marketplace for creating and trading NFTs.
GASHERO: A strategic and social Web3 game.
FSL ID: A Web3 identity system introduced by Find Satoshi Lab (FSL).
Optimized Tokenomics for Sustainable Growth
With a total supply of 6 billion, 3 billion GMT are currently in circulation. The 600 million tokens designated for burning come from FSL's repurchase of investor and advisor holdings.

Without this initiative, monthly token unlocks would release 1.54% of the total supply, contributing to an annual inflation rate of 38.96%, heavily influenced by early investor and team unlocks.

In the long term, this token burning initiative undoubtedly solidifies GMT's value. By repurchasing and burning tokens held by advisors and investors, GMT addresses the current market's anti-VC sentiment with a decisive response.

#GMT投票燃烧计划 #BinanceLaunchpad $GMT

Pump.fun, rising as a meme-launching platform, raises market concerns due to its live stream content.

Pump.fun, a meme token launch platform, has experienced extraordinary growth in user numbers and protocol revenue amid the booming meme token market. Data reveals that Pump.fun generated $5.31 million in revenue within 24 hours, ranking second in daily income after USDT issuer Tether.

Since March, Pump.fun has seen a steady rise in user activity. To date, the platform has accumulated over $250 million in revenue and deployed more than 3.8 million tokens, with growth trends continuing upward.

Attention Economy Sparks Chaos
Pump.fun’s live streaming feature, launched in August, has recently surged in popularity. While this blockchain-based live streaming model has drawn substantial user participation and generated significant economic benefits, it has also fostered chaos within the ecosystem.
Meme tokens, as a hallmark of the attention economy, have exacerbated the situation. Many projects employ controversial tactics to quickly garner attention, raising concerns from regulators over legality and ethical boundaries.

To boost attention and drive token valuations, Pump.fun’s live streams have reportedly featured violent, disturbing, and explicit content. Growing numbers of users have called for the platform to disable its live streaming functionality, stating that the situation is spiraling out of control.
Pump.fun Disables Live Streaming Feature
Pump.fun addressed the controversy in a community announcement, reaffirming its commitment to curbing inappropriate activities. The platform has taken actions such as removing non-compliant token images, names, descriptions, and comments, as well as flagging NSFW content, to maintain a safe and respectful environment.
Pump.fun noted unprecedented growth on its platform, with daily live streams increasing over 100-fold in under a week. Hundreds of streams are being removed daily to ensure the content remains safe and compliant.
To guarantee absolute user safety, Pump.fun has indefinitely suspended its live streaming functionality until its moderation infrastructure is equipped to handle high levels of activity. Moving forward, the platform plans to publish clear guidelines to make its rules and regulations more transparent and to provide creators and users with greater visibility into moderation decisions. These efforts aim to ensure that all stakeholders understand the processes and outcomes, fostering a more trustworthy and secure community.

#memelauncher #pumpfun #SolanaStrong