This new Ethereum DeFi token that suffered a bug rallied 375% today anyway

HeadlinesNewsThis new Ethereum DeFi token that suffered a bug rallied 375% today anyway

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This new Ethereum DeFi token that suffered a bug rallied 375% today anyway

CryptoSlate1 week ago
Published on November 21, 2020 10:30 GMT+0edited on November 21, 2020 10:38 GMT+0

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The coins of the latest generation of decentralized finance (DeFi) products built on Ethereum continue to pump amid a return to a bull market.

Even a coin of a protocol that was exploited by an unknown attacker is rallying hundreds of percent as investors seek to allocate capital to new investments. The protocol is 88mph and the coin is MPH.

What is 88mph?

88mph is a protocol that allows users to lend their crypto assets such as AaveUSDC, yUSD, and other yield-bearing assets at a fixed interest rate with “infinite liquidity.” Users can also buy floating-rate bonds through the protocol to finance and secure the debt of 88mph. The idea here is to further financialize the DeFi space by integrating ways for users to earn yield.

Audited by Quantstamp while the staking contracts …