Curve Finance, a leading decentralized platform that was recently hacked, was able to repatriate portions of stolen assets. While this is great news, it nonetheless highlights vulnerabilities within the crypto landscape. Meanwhile, DigiToads, a project creating a buzz within the crypto landscape, hits $6.9 million in presale.
In this article, we will explore the challenges faced by Curve Finance and the factors contributing to the presale success of DigiToads.
DigiToads (TOADS): $6.9 million remarkable presale milestone hit
In a forgettable week for DeFi and the broader crypto market, DigiToads was a beacon of hope as it achieved a remarkable milestone by reaching $6.9 million in presales. The innovative project, which is a perfect blend between NFT, P2E, and memes, has created a frenzy within the crypto landscape and piqued investors’ interest. This remarkable presale feat reflects confidence in its unique offerings and growth potential.
At the center of the DigiToads ecosystem will be a thrilling and immersive play-to-earn game, an NFT collection, and its utility token, TOADS. These make up its appeal and are the key factors driving demand for the token.
As a gaming platform, DigiToads will roll out an exciting game that will allow players to collect, nurture, and battle DigiToads. DigiToads are digital companions with unique characteristics, strengths, and weaknesses. The game ecosystem promises to be a thrilling and immersive virtual world for players, offering a chance to earn rewards while having fun.
Furthermore, as an NFT platform, DigiToads will house 3,500 unique NFTs. Early entry affords investors an advantage in acquiring rare and coveted digital collectibles within the ecosystem. Additionally, NFTs can be staked on the platform in exchange for rewards from the dedicated staking pool.
The utility token, TOADS, makes up another integral part of the ecosystem. It will be used to mint NFTs on the platform and make in-game purchases. It will also be used to reward stakers as well as the monthly reward that will be airdropped to the community from the game prize pool.
DigiToads’ memetic appeal is also worth mentioning as an object of attraction. Its fun and playful nature has created a strong following, evident in its huge following on Twitter. Also, by combining features of memecoins, the token will experience intense volatility that will see it skyrocket. In terms of growth potential, DigiToads has been predicted to soar by 50x before the close of the year. Moreover, at its current price of $0.05 per token, it represents a compelling investment, considering its immense growth potential.
Curve Finance (CRV) Hack: Attackers return substantial parts of stolen assets
Curve Finance is a decentralized exchange platform that lets users cheaply swap stablecoins. It was recently hit by an attack, with Curve affected as well as other lending protocols like Metronome and Alchemix. The hack took place on July 30, resulting in over $61 million in losses in crypto assets, including Alchemix and Metronome losing $22.6 million and $3.4 million, respectively.
However, the good news is that 73% of all funds stolen from Curve Finance have been returned. This had an immediate impact on the token, although it is still significantly down from its pre-hack price.
Final Thoughts
The reparation of a significant portion of stolen assets by Curve and the impressive presale achievement of DigiToads round up an eventful week in the crypto landscape. DigiToads continues to exert its dominance within the presale niche, thanks to its vibrant community, exceptional fundamentals, and allure of significant gains.
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