Decentralized finance (DeFi) has been one of the fastest-growing segments in the cryptocurrency industry, and for a good reason. It offers unique advantages that traditional financial systems can't match, such as global reach, transparency, and permissionless access. However, as DeFi continues to evolve, it also becomes increasingly complex, with new protocols, platforms, and tokens popping up almost daily.

Around 30 days ago, we experienced exploit that caused by profanity attack as discovered by 1inch in this article: A vulnerability disclosed in Profanity, an Ethereum vanity address tool.

You may notice that the current DeFi ecosystem is developed in silo, where every protocol compete to get the highest liquidity or usage by using token incentives. This competition created a misaligned incentives model that leaves a lot of token to go into death spiral, bleed to dry and race to zero fees.

We are sad and disappointed. We have spent the last 6 months basically trying to build on top of Rari Fuse and have pictured the future where the Rari Fuse can become the base layer of the permissionless leverage platform. With the dissolution of TribeDAO, this future will become much harder to attain. It took us a bit of time to recuperate and decide where the future of Risedle going to be.

Today, we launched CAKERISE and CAKEDROP, the first leveraged tokens built on top of Fuse that is maintained by Midas Capital on BNB Smart Chain.

Yesterday, we launched BNBRISE and BNBDROP, the first leveraged tokens built on top of Fuse that is maintained by Midas Capital on BNB Smart Chain.

We have finalized the development and audit for Fuse Leveraged Token since early this month. There’s some delay on the launch due to a global pause that currently happens on fuse, making us unable to launch FLT properly on Arbitrum.

Around 2 months ago, we announced our plan to build leveraged token on top of Rari Fuse. We call it Fuse Leveraged Token, an open and fluid leveraged token mechanism that can be easily implemented by any project that controls fuse pool.

Yoo anon, suppp? This month Risedle Core team is productive as ever. We’ve got a lot of updates to share, so let’s get started!