What’s Trending
🏗️ DeFi Growth: The value of DeFi is continuing to skyrocket. At the beginning of May 2021, the total value locked in DeFi projects surpassed $76B, more than 75x DeFi’s TVL at the same time last year.
⛓ Transactions on Ethereum: According to a recent report by Messari Crypto, Ethereum settled $1.5 trillion in transactions in Q1 2021 and is on pace to settle $6 trillion in 2021.
🦄 Uniswap V3: Uniswap, the largest decentralized exchange on Ethereum, launched their highly-anticipated V3 on May 5, the main features being concentrated liquidity and multiple fee tiers for liquidity providers.

Notable Audits
🛡️ Avalanche C-Chain: Quantstamp recently completed a security review of C-Chain on Avalanche, the latest release which brings smart-contract support. Learn more about our previous work with Avalanche.
🧰 Casper: The Casper Network is a new Turing-complete smart contract platform using the Highway Protocol specification. We recently reviewed Casper’s token transfer, mint and auction contracts. In the future, we'll be looking at their execution engine.
⏲️ Compound Finance: Quantstamp recently audited a new specification for Compound Finance. This patch introduces fixed-period vesting for COMP rewards, letting the protocol pay non-liquidity providers in an incentive-aligned way.
☔️ Cover Protocol: CoverProtocol is a peer-to-peer market for liquidity providers to purchase coverage against smart contract risk for their investments in various DeFi protocols. The scope included re-auditing their Cover V2 product which includes improved capital efficiency, better integration features and real-world asset coverage.
🤖 Idle: Quantstamp audited flashloan integrations and other improvements to the Idle Finance protocol. Idle Finance allows users to earn yield on digital assets using automated strategies that rebalance assets between several DeFi protocols so that users can earn the best yield. This marked our 7th security engagement with Idle.
🏆Maker: Quantstamp recently completed two audits with Maker: Liquidations 2.0, an update that heavily innovates upon existing liquidation mechanisms, and the Dai Peg Stability Module, a recently implemented mechanism that helps defend Dai’s peg to the US dollar. Learn more about these audits and our work with Maker in our recent post.
🌐 Tezos: We recently audited Tezos Domains, which allows users to choose human-readable names for their Tezos wallet addresses. The scope of this audit included the smart contracts that power Tezos Domains as well the Tezos Domains Client.
📝 Voyager: Quantstamp recently completed an audit of the Voyager token, swap and staking contracts. Voyager is a crypto brokerage firm with a commission-free trading app.
Why Does NFT Art Have Value?
The recent explosion in interest of NFTs by predominantly new adopters of blockchain begs the question, why? What value beyond price drives new users? How can a “rare digital picture of a cat” hold value if you can copy then save the underlying jpeg-file? Or even why would something unique have value in an illiquid market? If you’ve been asking yourself some of these questions, read the full post on our blog.

Events
🍻 Quantstamp Managing Director Don Ho made an appearance on Blockchain and Booze, hosted by Adam Levy. Along with Luuk Weber from PrimeDAO and Santiago Roel from Parafi Capital, Don discussed how he identifies quality projects and various topics involving the DeFi ecosystem.

⚡ Martinet Lee, Security Research Engineer at Quantstamp, gave a short talk at Taipei Ethereum on flashloans attacks and various attempts to defend them.
Media Mentions
📰 CoinTelegraph: Euro-pegged stablecoin at heart of DeFi protocol that’s taking on Tether
📰 CoinTelegraph: Drops closes $1M private funding round to create new value for NFTs
📰 CoinDesk: Blockchain Startups From Singapore-Based Tribe Accelerator Raise $70M
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Note: This update includes information and forward-looking statements about upcoming events and concepts under continuing development. Schedules, features, and functionality are subject to change or cancellation at any time and you are not to place undue reliance on this information or any forward-looking statements.