Decentralized finance (DeFi) is the delivery of traditional financial applications and services such as lending, borrowing, insurance, and exchanges on blockchain. Many of the most popular DeFi apps can be found at DeFi Pulse.

Recently, DeFi lending applications have seen a healthy rise in adoption, as early crypto asset holders use such platforms to earn passive interest or take out fiat and crypto-denominated loans. nuo is one such crypto lending application; the nuo platforms offers interest to those who lend out crypto assets such as ETH, USDC, DAI and more. …

If you have missed it, CryptoKitties was launched recently and became the most used dapp on Ethereum. The previous leader was EtherDelta, an on-chain exchange for tokens. Both are highly profitable dapps. Below is the lower bound of CryptoKitties revenue per day. CryptoKitties was deployed on 23 Nov as a beta and launched 7 days later, so the charts below ends on 11 Dec.

The ICO or Initial Coin Offering economy is doing very well, with many organizations raising tens or hundreds of millions in a very short duration. There are also much more mainstream media coverage and scrutiny from regulators world wide now. This has led to some changes in the structure of ICOs. Here, we will look at the recently concluded Kyber Network ICO which raised 200,000 ether (USD 56 million).

ICO structure

Compared to the 2 ICOs that we have covered previously, BAT and Bancor, there are stricter restrictions around participant eligibility for Kyber. The permitted allocations are distributed as follows.

* The private presale exchange rate might not be accurate because it includes marketing/community bounties and extra minted tokens which will be burned later.

Due to…

Many outlets have already examined the bug e.g. here, here, here and video here. But we will touch on some stuffs which had not been widely presented such as how the bug was not as obvious to the coder, how to track the wallets with events, a message left by the first exploiter and time line of 15 exploiters racing against time.


The bug was introduced when the coder was updating the contract to gather all the common functions into a library so that each new wallet can be deployed at 70% cheaper.

Code (in Solidity) before update:

// constructor…

Another day, another ICO on the Ethereum network. This time Bancor raised over 390,ooo ether or about USD 150 million in 2.5 hours. This ICO is significantly longer than the BAT ICO (24 seconds) that we covered previously and they have introduced some new mechanisms in an attempt to improve the sale process.

In the BAT ICO we have seen skyrocket gasPrice that benefit miners and hinder other non ICO transactions. This time Bancor had introduced a maximum gasPrice of 50 shannon.

uint256 public constant MAX_GAS_PRICE = 50000000000 wei;assert(tx.gasprice <= MAX_GAS_PRICE);

This would mean you could send a non…

ICO or Initial Coin Offering is a new way for startups to raise funds for development. Recently more of these ICO are done on the Ethereum network where ether is raised for funding and in return participants receive a standard token that can be transferred and represents ownership of something that is specified in the token’s whitepaper. You can see an example here of BAT token. The corresponding token is a smart contract on Ethereum. As this is the first time a price is linked to the token, it could be the cheapest way to obtain the tokens even though…

Credit for hockey stick and rainbow

Hockey stick is a common term used in startups to denote exponential growth in a metric such as users and revenue. In this article we look at some potential hockey stick charts for Ethereum.

Ethereum, this is just the Beginning

In recent days, we saw Ether, the native token of the Ethereum network hitting new highs in volume, price and market capitalization, closing the gap between Bitcoin and driving speculation to what some call a “flippening” — a shift in attitude from Bitcoin to Ethereum. Here we take a look at the synergy Ethereum provides and attempt to convince you to explore Ethereum further.

Ethereum went live in July 2015, a mere 1.6 years since its genesis, led by founder Vitalik Buterin with the goal of building decentralized applications. Starting from an online public crowdsale, Ethereum had since grown to…

Overview of the Token Auction Stages

In this post, we would like to bring you through one auction cycle to help in understanding how the token auction mechanics work. The diagram above gives an overview of the 3 different auction stages.

In session n, consider the following submitted orders in order.

We have recently deployed our Token Auction on Ethereum and it is located at


Token Auction is a smart contract on Ethereum that enables on-chain exchange of standard tokens. In this iteration, settlement happens once a day with an externally fed but publicly verifiable settlement price. An external price is used instead of the equilibrium price so as to jump-start the liquidity of the auction and prevent price gaming due to initial low liquidity. It is an alternative to centralized and decentralized exchanges and is the primary way to obtain our gold token, GCT.

The natural question is, how…

CodeTract CodeTract is a startup focused on building smart contracts enforced by blockchains

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