DeFi Project “Spaghetti Money” Attracts $200M in Staked Assets – August 19

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $11,870

Bitcoin price has promptly corrected back below the elusive $12,000 mark today, as price corrected back to last week’s levels.

Top-20 altcoins have not responded well, with Ethereum falling 3%, XRP dropping 4%, and Chainlink the only gainer with a 5% recovery.

Top Stories for August 19, 2020 πŸ”₯

πŸ‘‰ DeFi Project “Spaghetti Money” Attracts $200M in Staked Assets

Investors have staked $200 million into a YAM-inspired DeFi protocol named “Spaghetti Money”, in less than 12 hours since its launch.

The protocol takes some of its code from YAM, a similar project which went up in smoke after a bug was discovered in its smart contract.

Spaghetti Money offers staking in tokens including YFI, MKR and COMP, as well as its own PASTA token – which currently does not have any function.

πŸ‘‰ Polkadot’s DOT Tokens are Now Transferrable

Polkadot, a platform aiming to compete with Ethereum, has had its DOT tokens unlocked today, enabling them to be transferred and traded on exchanges.

The unlock occurred at the Polkadot chain’s 1,205,128th block, with DOT trading now available on Binance.

Kraken will be offering DOT staking and trading, while OKEx and Huobi are also expected to support the asset.

πŸ‘‰ US Postal Service Files Blockchain Voting Patent

The United States Postal Service (USPS) has filed a patent proposing the use of blockchain technology for a mail-in voting system.

Experts have denounced the patented system, saying it is “unworkable” and that there is virtually no chance of the system being used this year.