PayPal partners with MoonPay to launch the PYUSDx platform, supporting the issuance of customized PYUSD stablecoins.

Pi Network Core Team: The ecosystem already has over 18 million identity-verified users

Pi Network’s official announcement says there are currently more than 18 million users who have completed KYC, emphasizing that verified users matter more in transactions than other unverified accounts. The core team believes identity verification is crucial to transaction trust, and therefore has built a mainnet ecosystem with full KYC verification to ensure identities are verifiable, reduce spam, and improve overall credibility.

Curve Finance 預防性暫停 LayerZero 跨鏈，CRV 及 crvUSD 橋接受限

Curve Finance has been attacked over LayerZero infrastructure related to rsETH, and has temporarily suspended cross-chain functionality to prevent risk, impacting CRV cross-chain bridging and the fast bridging of crvUSD. Founder Egorov said the incident demonstrates the risk of “non-isolated lending,” and proposed a fully isolated mode as an alternative. Kelp DAO also suffered losses of about $292 million due to the attack, affecting lending activity on the Aave platform.

AAVE (Aave) down 6.53% in 24 hours

Gate News message, April 20, according to Gate market data. As of the time of writing, AAVE (Aave) is trading at $92.32. Over the past 24 hours, it is down 6.53%, with a high of $99.17 and a low of $88.71. The 24-hour trading volume is $16.9544 million. The current market cap is approximately $140.1 million. Aave is an open-source decentralized lending protocol that provides deposit and borrowing services for users. The deposit interest rates for depositors and the loan interest rates for borrowers are calculated algorithmically based on the platform’s borrowing amount and deposit amount. The platform also uses Chainlink oracles to ensure fairness in the collateral price. AAVE’s recent important news: 1️⃣ **Kelp DAO cross-chain bridge hacked, triggering a liquidity crisis** The hacker exploited a LayerZero cross-chain bridge vulnerability to steal rsETH worth $291 million, and then used the illegally obtained rsETH to provide collateral and borrow on Aave, causing the utilization rate of Aave’s core lending pool to reach 100%. The incident triggered a chain reaction: Aave’s net withdrawals totaled $6.2 billion, and total deposits fell from $45.8 billion to $35.7 billion. This event directly hit market confidence and is the main reason for the recent decline. 2️⃣ **Multiple institutions and whales panic-selling** After the incident, multiple whale addresses sold AAVE heavily on-chain, including the "smaugvision" address selling 20,015 tokens, the 0xFC5 address selling 20,000 tokens, and the 0xA2E address selling 19,665 tokens—totaling nearly 60,000 tokens. The well-known whale "ThisWillMakeYouLoveAgain" even cut losses and stopped the loss by selling 29,400 AAVE for $2.73 million, with losses exceeding $6 million. Large-scale selling further intensified downward pressure on the market. 3️⃣ **DAO governance approves a large financing plan to support long-term development** The Aave DAO passed the first grant proposal under the Aave Will Win framework with 75% support. Aave Labs will receive $25 million in stablecoins and 75,000 AAVE (about $6.8 million) unlocked linearly over four years. Founder Stani clearly laid out the strategic direction: all product revenues will flow back to the DAO treasury, with the goal of expanding the protocol’s scale from $40 billion to the trillion-level. This financing plan provides a solid foundation for the protocol’s long-term development, but in the short term the market still needs to absorb the impact of the hacker incident. 4️⃣ **Smart money addresses build positions against the trend** On-chain data shows that over the past seven days, approximately $2.9 million worth of AAVE has flowed out of exchanges. Smart money addresses are accumulating AAVE, with their holdings increasing to 359,880 tokens. The top 100 traders saw a net inflow of $2.18 million, and the leading profit-taking wallets maintained their positions without moving, suggesting that institutional investors are optimistic about Aave’s long-term prospects and providing some support for the current price. This information is not investment advice. Please note the risk of market volatility when investing.

World ID 4.0 Launches with Tinder and Zoom Integration, Reaches 18M Verified Users

Tools for Humanity launched World ID 4.0, enhancing its biometric verification system with key rotation and tiered options. With 18 million users, it integrates with Tinder and Zoom. The company supports expansion through funding, despite a 97% decline in WLD token value.

Curve Finance Suspends LayerZero Infrastructure Following rsETH Hack

Curve Finance has temporarily suspended its LayerZero infrastructure due to a security incident involving rsETH. The protocol is investigating the issue, affecting certain cross-chain bridging operations while others continue as normal.

Monad Co-Founder Suggests Dynamic Caps on Collateral Deposits to Mitigate Hacking Risks

Keone Hon suggests that pooled lending protocols should implement gradual rate limits on collateral asset increases to mitigate risks during hacks. He argues this could have prevented significant losses, as seen with rsETH depositors.