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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Is ShibaSwap safe? DeFi Safety review gives it a score of just 3%

There are concerns over ShibaSwap's transparency and security.

Despite the immediate success of dog-themed decentralized exchange ShibaSwap, there are warnings  the DEX’s liquidity providers are throwing capital into an opaque protocol of questionable security.

Building on the popularity of their Dogecoin fork, Shiba Inu (SHIB), amid the Elon-Musk stoked dog-token trading frenzy, the coin’s developers launched their DEX with enticing yield incentives for liquidity providers on July 7.

Within 24 hours of launching, the protocol had amassed a Total Value Locked (TVL) of more than $1 billion.

On July 8, platform reviewer DeFi Safety published a report on ShibaSwap, scoring the protocol at just 3%, far below the 70% level the site considers a pass.

Describing the score as “a devastating fail,” DeFi Safety failed ShibaSwap on all but two of its 22 review criteria, with the protocol scoring 30% for the clarity of information provided in its whitepaper.

The review’s author is Rex Hygate, the founder of SecuEth and Caliburn Consulting. He highlighted ShibaSwap’s anonymous team, lack of transparency and documentation and pointed to the fact there is no public software repository, development history, or way to test the code.

On July 7, Solidity developer, Joseph Schiarizzi, posted an article warning that ShibaSwap’s staking contract had been under the control of just a single address for most of its first day of operation.

While ShibaSwap has since updated the contract to a multi-signature account requiring six of nine Safe Owners to agree on transactions before can be executed, Schiarizzi warns that each of the addresses may be under the control of a single entity:

“Multiple of these Safe Owners are new accounts with 0 transactions and no ETH, so they are most likely just place holders for the ShibaSwap devs who can agree easily to call any owner only function on the staking contract.” 

Schiarizzi emphasized the risks associated with the staking contract’s migrate function being under the control of a single entity, identifying that the contract owners “can simply deploy a new migrator contract which sends themselves all the LP tokens.”

DeFi Watch analyst Chris Blec shared Schiarizzi's warnings about ShibaSwap’s security risks to his 22,000 followers and highlighting the DeFi Safety review

https://ift.tt/36hd4tw
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