By reporting the completion of 29 audit reports by 12 cybersecurity firms as part of the relaunch of its “v2” platform, Euler Finance has made a strong statement in the crypto world. Over $4 million was spent on this security effort, making it one of the biggest in the history of decentralized finance (DeFi). Since a flash loan attack in March 2023 cost Euler $195 million, which the attacker later paid back, the company has taken extra steps to protect its new version from future attacks.
The EulerDAO spent more than $11 million to make v2, and a big chunk of that money went to improving security. Experts and defense firms from outside the company have put the system through a lot of tests, which have found and fixed some major problems. We ran a $1.25 million bug prize contest to make the platform even safer, and the fact that no medium- or higher-severity problems were found shows how strong the new system is. Euler v2 also adds new features, like vaults that can be customized, fake assets, and a fee auction system. This makes it a safer and more innovative player in the DeFi environment.
As Euler works to improve security, another well-known blockchain platform called Avalanche is planning for fast growth. The Avalanche network, which is known for having high throughput and low delay, has successfully linked over $250 million worth of assets from Ethereum. This shows that the network is now much more liquid. This achievement shows that people are becoming more sure that Avalanche can solve the problems that other blockchains are having on a large scale.
Avalanche’s bold plan is for its value to rise by 18%, thanks to its growing environment and the successful addition of Ethereum assets. The Avalanche-Ethereum Bridge (AEB) has been a big part of this success. It makes it easy to move money between the two blockchains and improves the user experience. AVAX, Avalanche’s native coin, is likely to see a rise in demand as more projects switch to Avalanche. This will likely cause prices to rise shortly.
Crypto investors who want to take advantage of market growth should pay close attention to both Euler and Avalanche. Together, Euler’s renewed focus on security and innovation and Avalanche’s growing community and strategy advances make them strong options for people looking to make investments in the blockchain space that could pay off.
