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The US Internal Revenue Service (IRS) issued a ruling on Monday saying that “given rewards for validation activity on a PoS network should count the rewards as income in the year the investor gets control of those tokens”.
Base, Coinbase’s L2 built using OP stack, is still not live yet but there is already a rugpull. The dev behind Bald, a memecoin project on Base L2, removed 6,800 ETH (~$12.5m) from the BALD liquidity pool on LeetSwap, causing a liquidity crunch and a ~90% price drop on BALD. According to Nansen’s analyst, Bald deployer’s address seems to have “serious Alameda connections for sure.”
LeetSwap, a dex on Base, halts trading after an exploit leading to a 340 ETH loss (~ $630k). This came after the Bald rugpull.
Pancakeswap launches revenue sharing pool. The feature allows Fixed-Term CAKE stakers to earn additional real yield from the trading fee revenues generated by PancakeSwaps v3 trading pairs. Rewards will be distributed on a weekly basis, with the first distribution starting on Aug 9.
Institutional lending protocol Clearpool expands to Polygon zkEVM.
Celo governance approved Celo’s transition from an EVM L1 to an Ethereum L2.
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