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GUSD Supply, $NORMIE exploit
Shaun Ko
main
Key Takeaways
2 min read
  • GUSD Supply Surge: GUSD supply on exchanges soared from 23% to 93% in a week, with $250M minted and held on Gemini, marking its highest market cap since being delisted by MakerDAO.
  • New Features: Members appreciated the new hot contracts feature and its filtering options. Crypto Discussions: Topics included shorting $FRIEND perps, a positive price increase for $LDO, and the passed Kirby airdrop with a link to the HLG Rewards Round 1 Eligibility Checker.
  • Contract Vulnerability: A vulnerability in the $NORMIE contract's swapAndLiquify function was discussed, with multiple links provided for further details.
  • Chain Cat Cryptocurrency: Discussions covered buying Chain Cat in DegenBets, sharing relevant links, a guide for purchasing.
Source: Nansen Query

Community Channels

War Room

GUSD Supply and Market Cap

  • Members noticed a significant increase in the GUSD supply on exchanges from 23% to 93% in the past week.
  • Approximately $250M was minted this week, with the newly minted tokens located on Gemini.
  • This resulted in the highest GUSD market cap since MakerDAO removed it from DAI.
  • Member shared the supporting link on Nansen

New Hot Contracts

  • Members expressed their appreciation for the new hot contracts feature and the ability to filter them.

Tokens

Discussion on Crypto Trading

  • Members discussed the potential for shorting $FRIEND perps.

Discussion on Crypto Prices

  • A member mentioned a positive price increase for $LDO.

Airdrops

Kirby Airdrop

  • Members discussed an airdrop announcement from Kirby on telegram. However, upon checking, it appeared that the airdrop had already passed.
  • Members shared HLG Rewards Round 1 Eligibility Checker, a link where you can connect a wallet to check eligibility for HLG Rewards Round 1.

Sanctum Quest

  • A member mentioned "#Sanctum QUEST#5: A SYZYGY OVER THE HEART OF VOH".

Exploit Warnings

Normie Exploitation

  • Members discussed a contract vulnerability of $NORMIE that has a premarket user map bypassing checks in the swapAndLiquify function, potentially leading to token minting. The system only verifies if a wallet is a valid premarket user by checking if the user's token balance matches the team wallet. Source
  • A member shared links without context or metadata. Link1, Link2
  • Another link was shared without context or metadata. Source

Degen Bets

Chain Cat Cryptocurrency Discussion

  • Members discussed a potential play with the Chain Cat cryptocurrency.
  • They shared several links related to Chain Cat, including the official website, the Chain Cat profile on X, and a Warpcast post about buying Chain Cat.
  • They also provided a community link for Chain Cat enthusiasts.
  • A step-by-step guide was shared on how to buy Chain Cat, which involves bridging ETH to the Onchaincoin-Network on the Onchaincoin portal and then swapping ETH to Chain Cat on the Onchaincoin swap page.
  • The contract address to import the token was also provided: 0x9c307fab1e3736f3cD0E4e5969df50AD52FDf7c0.
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War Room 1 - May 27th, 2024
Disclosure: The authors of this content and members of Nansen may be participating or invested in some of the protocols or tokens mentioned herein. The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol. Nansen does not recommend any particular course of action in relation to any token or protocol. The content herein is meant purely for educational and informational purposes only and should not be relied upon as financial, investment, legal, tax or any other professional or other advice. None of the content and information herein is presented to induce or to attempt to induce any reader or other person to buy, sell or hold any token or participate in any protocol or enter into, or offer to enter into, any agreement for or with a view to buying or selling any token or participating in any protocol. Statements made herein (including statements of opinion, if any) are wholly generic and not tailored to take into account the personal needs and unique circumstances of any reader or any other person. Readers are strongly urged to exercise caution and have regard to their own personal needs and circumstances before making any decision to buy or sell any token or participate in any protocol. Observations and views expressed herein may be changed by Nansen at any time without notice. Nansen accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content.