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$EDGEX The team continues to surprise us! 🤡 That is in addition to the fact that the team distributed most of the airdrops themselves. Initially, there were over 80 new wallets worth more than $90 million, but they distributed pocket change to people (actually, it is much more). Following our post, which was mentioned by all major players including Arkham, the tokens in the wallets were locked, but as you know, that wasn't the case for all of them. Currently, the team is announcing buybacks that are burned daily on X. However, the team does not state that most of the money being burned is not purchased from the market, but was transferred through dozens of new wallets and the team's intermediary addresses. These entities received the airdrops themselves, and now the team is sending them to buyback addresses to burn them. Burn Address $EDGE 0x221e7fca09589AB2d7Dc552EE72ACf1A2fF10048 Therefore, if you set up a short or long strategy based on news the team announces on Twitter, please keep in mind that this is merely a ploy to maintain a positive mood regarding the project.

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To participate in Flame Season 2 of the Fogo ecosystem, I personally utilized Valiant, a key protocol within the ecosystem. I used Backpack Wallet, which offers excellent visibility for Fogo assets, and utilized Fogo's USDC. 1. Deposit Process and Bridging Workflow The first feature encountered when using Valiant is the path for assets to move between chains. • Necessity of Cross-Chain Bridging: Currently, to use assets as trading assets on Valiant, a process of bridging Fogo's USDC to the Solana chain's USDC must be completed beforehand. While the inability to make immediate deposits within the native chain can be somewhat cumbersome, the UI appeared to prioritize convenience as much as possible. • Swap Convenience: If you hold a small amount of SOL and FOGO during the deposit process, the system automatically supports the swap within the deposit procedure. From a user's perspective, I believe the bridging process is designed to be very smooth. 2. Trading Experience • It was impressive that it supports over 200 trading pairs, despite being an early-stage protocol. • Maximum leverage is set differentially for each pair, taking volatility into account. This appears to be a mechanism designed to ensure protocol stability and protect traders' assets. • Swap and order execution speeds were very smooth, making it easy to respond to real-time volatility. • Trading volumes for both spot and futures can be viewed intuitively, along with rankings. **Areas for Improvement** While the overall UI/UX is decent, there are two areas for improvement from a user's perspective. • Deposit Path Optimization: The fact that transactions must go through the Solana chain despite using Fogo-based assets is an area that needs improvement through the expansion of native features in the future. • Liquidity Transparency (Orderbook): Currently, there is no separate orderbook visualization, making it difficult to identify exact liquidity providers or execution paths. I believe that the introduction of an orderbook UI would create a more reliable trading environment. #fogo #ad

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We say that DeFi is the future. We say we will secure the next billion users. We say that this technology will replace traditional finance, provide financial services to the financially underserved, and empower people with financial sovereignty. But how can we safely onboard millions of people into a system where $250 million can vanish in just minutes due to a social engineering attack? How can we explain a system where a $280 million transaction is considered secure if only two out of five people sign it? How can we explain a system where no one notices even if an attacker opened a wallet two weeks ago and executed a test transaction? How can we explain a system like Circle where a legitimate business can be frozen overnight but cannot prevent actual attacks? How can we explain a system where the same attack methods and the same human errors are repeated year after year? Ronin. Bybit. Cetus. Now Drift. Same cause. Different name. Different chain. Same result. The problem with DeFi is not the code; it is the people. Yet, we keep trying to solve only the code problems. It has been quite a while since I started using protocols. I like money, but I prioritize safety. However, the current situation is forcing me to choose between the two. Security must no longer be a topic pushed to the back burner. It must not be a subject discussed only after a hacking incident occurs and forgotten before the next one happens. Security must be the top priority. It must never be the last priority. This is because we are not currently prepared to handle the next billion users. We are barely managing to protect the safety of our current users. x.com/Only1temmy/status/203959...

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All DeFi protocols must have the following: 1. Circuit breakers for deposits and withdrawals, and in some cases, other internal operations 2. Time limits for all changes 3. A security board capable of immediately halting the protocol We don't need insurance. We need to get the basics right. It is still too early for this field to drive without training wheels. Please, I beg you. You can gain great peace of mind even if you sacrifice a little User Experience (UX). The worst UX is losing a user's money. I am extremely disappointed with the state of security in this field. Generally, audits focus on whether protocols and implementations align with specifications. However, most attacks occur not in these areas, but in places like quorums, key management systems, deployment processes, and the security management status of the team. Protocol audits are essential, but their scope is woefully inadequate and instills false confidence in both (inexperienced) teams and external users. I am not sure what the solution is in this case. Teams clearly need to do better, and auditors need to broaden their audit scope. Otherwise, how could you believe that Tim didn't build a nice-looking house and leave the front door and five windows wide open? x.com/hasufl/status/2039616666...

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STRC-based Stable Structure What is Apyx? A stablecoin (apxUSD) project based on preferred stocks of DAT companies such as MicroStrategy (STRC). • A team formed primarily by former C-level executives from Kraken, including the former CSO and a Binance Vice President, plus core members from Solana and the DAT company DFDV. • Assets deposited by users are distributed into preferred stocks such as STRC, SATA, and BMNR. The system provides users with the dividends generated from this as Yield, plus a points program. The key point is that while you must pay dividend income tax if you buy STRC directly as foreign stocks, using synthetic assets like Apyx is (currently) tax-free. As long as sellers continue to accumulate Bitcoin, STRC is likely to remain a trending keyword. With approximately 70 million deposited, which seems to prove actual demand, I think it would be worth taking a quick look into it. x.com/apyx_fi #apyx #kol

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edgeX is not conducting buybacks Deposit Record (edge chain) Amount TXID 6,000,000 0x60ca9112a90f24f16af3b3b59f4b1796cc5811d93f18ae280da37ee76fa4696a 9,000,000 0x654947ba33e4e07dcb1bd10364f0659a307c81040768ab72869ed309d1d5d123 9,000,000 0xe7a20d2cf960875790c2b1b894f5dc59770d42e6afd314b9146c48f790f8d0d6 1,000,000 0x348dc77410d39ba60c28fd407659a141db3909034b742d6480bb7d1b937c81b9 5,000,000 0x5b2ef47be9a90a09c41218e304e1c34a41ddd0bdfeff9aebc79d4d3628a928eb 7,000,000 0x72a392ca2229d19852af2af3bfbc3aafcba438ec7ef791f4278efac04f5d7738 10,000,000 0xc8dbbd0ba2df6ad3d26b45f9a78056a15739ae468df43203e4915c8e20df5800 2,999,990 0xd5979c409d8ba4bcf04efd71d2feb8065c407a1ffd1ed0a02c8c5867770b160e Total 49,999,990 $50M deposits from Amber Group's Safe Wallet and EOA Completed debank.com/profile/0xab57b993e... (Safe) debank.com/profile/0xe11970f2f... (EOA) However, if you look at the edge chain, there is no trade record pro.edgex.exchange/en-US/explo... pro.edgex.exchange/en-US/explo... For reference, if I look at my wallet address, it shows up as SPOT_TRADE if a trade had occurred. There is SPOT_IN only in the 47be wallet, which occurs when an airdrop or transfer takes place within the edge chain. Conclusion: These guys are not doing a buyback. At the very least, even if they were, they wouldn't do it in the wallet where they supposedly withdrew $50M from the Treasury. Even if a transfer occurred within the edge chain, there should be a record there, but that is missing as well.

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I confirmed the drift when the price had already dropped significantly. Fortunately, the entire DAO was calling at the time, so we immediately brainstormed. 1. We each looked for places to borrow on CEX and on-chain, but found nothing suitable. 2. It would have been good to take it to Upbit or Bithumb and dump it, but Upbit to Bithumb wasn't a bad option either. 3. However, I thought it was already too late by the time I realized it, and fortunately, I had Korean Won on Upbit from selling Tether. 4. Judging by the recent reaction on domestic exchanges, it didn't seem like it would happen in the morning, so I waited for buying pressure and went for a direct buy. 5. I checked the hacker wallet and saw that he was holding a fairly large amount of FART. 6. FART had already dropped, but while continuously monitoring Scan, I saw FART move one minute ago. 7. I immediately shorted FART. That is it.

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I just sold a little fartcoin on Jupiter.

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