Weekly digest covering regulatory pushback on stablecoins and DeFi access, major partnerships (OKX-ICE tokenized stocks), exchange relaunches (Coinbase Pro), security incidents (Ledger, Drift), and layer-2 developments including Blast and Abstract shutdowns.
Security & Exploits ·
Firelight Protocol launched on the Flare Network with coverage for decentralized finance vaults, starting with Sentora's USD Protected Vault and Protected RWA Vaults, addressing a protection gap where onchain insurance capital represents approximately 0.14% of nearly $100 billion in DeFi assets. The protocol operates through a shared capital model where XRP holders deposit staked FXRP into a single Firelight Vault, with a current deposit cap of $115 million, and an independent Risk Consortium of five firms validates covered events including smart contract exploits, oracle failures, and governance exploits before payouts are released. Infrastructure providers Veda and Upshift are integrating Firelight at the platform level, allowing any operator building on them to enable vault protection backed by the same capital pool.