BlockBeats News, on November 16th, the Pyth Network, a oracle project, officially announced that the airdrop coverage for DeFi participants has been expanded. Previously, it was announced that 200 million PYTH tokens would be distributed in the airdrop. An additional approximately 55 million PYTH tokens have been added to the distribution for DeFi participants, bringing the total amount of the airdrop to approximately 255 million PYTH tokens.

On November 15th, according to Coindesk, blockchain-based asset management company Superstate completed a $14 million financing round, led by CoinFund and Distributed Global, with participation from Arrington Capital, Breyer Capital, CMT Digital, Department of XYZ, Folius Ventures, Galaxy Digital, HackVC, Modular Capital, Nascent, and Road Capital Management.<br>Superstate focuses on developing regulated and compliant investment tools using public blockchains accessible to US investors. The company is led by Robert Leshner, founder of DeFi lending platform Compound, and has designated the funds for team expansion, creating private funds for institutional investors, and developing a framework for tokenized public funds.

DeFi protocol Linear Finance, which was previously attacked, tweeted that the protocol reconstruction has successfully completed user testing. Its development team will continue to advance related work to ensure security testing and other measures are completed, and the protocol is close to reopening. Linear Finance announced at the end of last month that it will reopen the Linear 2.0 protocol and complete the recovery of the mining pool. It will also launch a new website and brand, as well as an order book DEX and multi-collateral pledging service.

On November 13th, AlphaGrowth's proposal 191 on the Compound community's lending agreement did not reach quorum and will not be executed. The proposal suggested allocating 7770 COMP (currently equivalent to approximately 410,000 USD) over a period of 4 months for the Compound Growth Plan. Of this, 2760 COMP will be allocated to the BD Fund (supporting business development and operations for the Compound Growth Plan), and 5010 COMP will be allocated to the Growth Fund (used to incentivize external parties to participate and promote Compound through marketing activities and fund integration).

Flare Network announced the launch of FlareDrop.09 on the X platform, and 27 distributions will be carried out soon.

Yield farming is a potentially lucrative way to earn yield in the DeFi markets but it comes with a lot of risks.

DeFi platform Raft suffered a hacker attack early this morning, resulting in a loss of about 3.3 million US dollars worth of ETH. Coinmarketcap data shows that Raft's stablecoin R, which is pegged to the US dollar, immediately dropped by 50%, but later rebounded to around 70 cents and is currently trading at 0.89 US dollars, with a 24-hour decline of 10.64%. Raft co-founder David Garai confirmed the attack on X platform, stating that the hacker minted R tokens and then sold them to exhaust the liquidity of the automated market maker, while extracting collateral from Raft.

One-stop DeFi aggregator YaspFi has announced its launch on the OP mainnet. According to the announcement, the YaspFi engine aggregates DEX aggregators and cross-chain exchange protocols, which can help users achieve the best execution rate and save on gas fees in DeFi.

According to the French Prudential Supervisory and Resolution Authority (ACPR), the highest banking regulatory agency in France, is considering whether to require smart contracts to comply with new compliance and security measures, otherwise the industry will face marginalization risks. If the relevant regulations are implemented, DeFi developers may need to rewrite almost all smart contracts. According to the proposal, the regulatory agency will certify smart contracts for compliance. Olivier Fliche, Director of Financial Technology and Innovation at ACPR, said in an interview: "Our idea is to require European intermediaries to interact only with other certified smart contracts. We are trying to create a safe zone for the industry composed of smart contracts." However, Mariana de la Roche Wills, a member of the International Trusted Blockchain Applications Association, said that restricting the operation of uncertified smart contracts and cutting them off from the financial network "may have a similar effect to a ban" in practice. Currently, French regulatory agencies are organizing proposals and then passing them on to the executive legislators of the European Union. According to the proposal, developers may need to update or rewrite their smart contracts to comply with new standards before they can be certified. Potential certification rules may apply to newly developed and existing smart contracts, which means that mature ecosystems such as Ethereum may need to be adjusted within the European Union. (DL News)