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Blockchain

Hacken to Launch DualDefense Flash Pools, Crowdsourced Audit Rewards

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Hacken, a leading blockchain security auditor, announces the upcoming launch of DualDefense Flash Pools, a platform that combines real yield with community-driven security enhancements in decentralized finance (DeFi). Scheduled to go live in the coming weeks, this product aims to address existing shortcomings in the sector by offering sustainable financial models and robust security measures.

In the DualDefense model, clients request an audit from Hacken, which conducts a thorough security assessment of their project’s code. After completing its own audit, Hacken opens a 30-day smart contract-based DualDefense Flash Pool. The Hacken team contributes USDC into the Flash Pool, and $HAI token holders can stake their tokens as well. Independent security researchers from the HackenProof platform are then invited to review the code. If they discover any critical vulnerabilities, they earn rewards from the Flash Pool.

Clients benefit from enhanced security and comprehensive protection at no extra cost, while $HAI stakers can earn up to 180% APY from the Flash Pool. This model ensures that returns are not generated from inflationary token emissions that often lead to unsustainable growth and diminished value over time. Users benefit from real market activity, marking a significant shift toward more sustainable financial models in DeFi.

Hacken also introduces the first-ever prediction market tied to audit verification. Unlike traditional prediction markets associated with speculative activities, this tool provides real-world utility for decentralized security practices. Users who stake in the Flash Pool essentially bet that Hacken has performed a thorough audit of the project. As the crypto community stakes $HAI, increasing the size of each Flash Pool, white hat hackers are motivated to join the code audit verification — this approach offers competitive profitability while improving the code security.

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“We’re open to feedback in the Web3 world,” says Hacken’s CEO, Dyma Budorin. “We put our skin in the game, bold enough to reveal the results of our work. We’re committed to transparency and trust, striving to improve the industry by making bug bounties accessible to all, even the smallest projects that previously couldn’t afford it. A win-win-win situation for all parties involved.”

Allowing the community to double-check Hacken’s audits is a bold move that puts the company’s reputation on the line for the sake of security. The industry faces significant challenges with projects using poorly secured code. According to industry reports, over $1 billion was lost in 2023 due to hacks and security breaches in DeFi protocols. It continues to remain a critical issue this year, as over $171 million was stolen from DeFi projects in Q2 2024. To address this issue, Hacken adds an extra security check performed by independent security researchers. The project incentivizes them with rewards from the Flash Pool while keeping this completely free for clients.

The company believes that aligning the interests of users, investors, and developers can create a positive feedback loop that promotes sustainable growth and enhances the overall health of the DeFi market. In the upcoming release, Hacken will open bug bounties within Dual Defense Flash Pools even for the smallest and budget-constrained projects — and welcomes other market participants to join this venture. This approach protects every crypto user by raising security standards across the entire industry, while giving participants the chance to earn significant returns.

The post Hacken to Launch DualDefense Flash Pools, Crowdsourced Audit Rewards appeared first on HIPTHER Alerts.

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Blockchain

Bybit Expands bbSOL Yield Opportunities Through Strategic DeFi Partnerships

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Blockchain

This Week in Finance News: 11 Stories You Need to See

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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

  1. Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
    By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few.
  2. Cardinal Health announces two strategic additions to its portfolio
    Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash.
  3. BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
    This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems.
  4. Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
    “I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands.
  5. Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
    The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately.
  6. PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
  7. Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
  8. Finaya Unveils Nationwide Homeownership Platform
    From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient.
  9. GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
    Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too.
  10. GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
    This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics.
  11. Most US shoppers are encountering generative AI while shopping without realizing it
    A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.

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Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

  • Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.
  • Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.
  • Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.
  • Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

The post This Week in Finance News: 11 Stories You Need to See appeared first on .

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Blockchain

Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR

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