ZEC Is Back
AI Summary
Zcash (ZEC) surged over 30% to $570 after Multicoin Capital revealed it has been accumulating the privacy coin since February. Kelp DAO published a rebuttal to LayerZero's post-mortem on the $300M rsETH bridge exploit, accusing LayerZero of deflecting blame for what Kelp calls a default infrastructure failure. Coinbase made a strategic investment in Centrifuge and designated it as a preferred tokenization infrastructure partner on its Base network.
Key Facts
Author Takes
LayerZero's 1-of-1 DVN configuration
LayerZero is blaming Kelp for using what was in practice the platform's standard default configuration, used by hundreds of other applications, deflecting responsibility for an infrastructure failure.
Contrarian Angle
Chainlink Cross-Chain Token (CCT) replacing LayerZero
Kelp DAO announced it will migrate to Chainlink's CCT standard following the $300M bridge exploit and dispute with LayerZero over infrastructure responsibility.
Engineers switching from LayerZero to Chainlink Cross-Chain Token (CCT)
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