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- Bonzo Bytes Newsletter - #23 🐵🗞️
Hello, Bonzo Community!
From Bonzo Finance updates to Hedera and crypto highlights, here’s everything you need to know from last week’s Bonzo Bytes 𝕏 Space.
👉 Brief Protocol Pause: What Happened?
It is confirmed with 100% certainty that all funds are safe and no "bad debt" of any amount exists for the protocol. This pause was investigative in nature after observing transactions that appeared suspicious, 5 minutes prior to the protocol's pause.
The Bonzo Finance protocol… x.com/i/web/status/1…
— Bonzo Finance Labs (@bonzo_finance)
8:15 PM • Feb 3, 2025
Last week, the Bonzo Finance protocol was temporarily paused as a precautionary measure after suspicious activity was detected. The team acted quickly, and after a thorough investigation and remediation, normal operations resumed for supply, borrowing, withdrawals, and repayments across all markets.
Full details on this incident can be found in the report: Bonzo Finance Incident on February 3rd
📊 Bonzo Finance TVL & Scoreboard Update
💰 Liquidity Incentives Update
Bonzo Finance continues to offer liquidity incentives (✨) for supplying and/or borrowing $HBAR, $USDC, $KARATE, $DOVU, & $STEAM
HBAR → 8.46% (supply) | 1.72% (borrow)
USDC → 12.00% (supply)
KARATE → 1.98% (supply) | 6.75% (borrow)
STEAM → 7.11% (borrow)
DOVU → 2.72% (supply) | 7.08% (borrow)
Check out current rates: app.bonzo.finance
*Current rates as of Mon, Feb 10, 2025 at 11:00 AM ET. APY is subject to change. Bonzo Finance does not endorse any of the assets cited in this newsletter or the utilization of DeFi protocols. Interacting with smart contracts carries inherent risks including total loss of funds. LTV ratios and protocol parameters are subject to change. Users are responsible for understanding the protocol risks, including smart contract vulnerabilities and liquidation mechanisms. Do your own research. Not financial advice.
🌐 TGE Incoming: Mid-February Target
The Token Generation Event (TGE) governance milestone is approaching. While all parties involved are finalizing various activities, the priority remains focused on security, quality, and a smooth rollout. Expect an official announcement soon.
📌 Join the Discord for the most up-to-date information on Bonzo Finance, including development progress, priorities, and what’s next for the protocol.
🌕 Moonscape Browser: A New Web3 Internet
Say hello to Moonscape, a decentralized browser powered by Ordinals, Hashinals, and .BIT domains. This is a fully on-chain internet experience where websites and apps live entirely on decentralized infrastructure.
💡 Bonzo Finance is a proud member of the Hashgraph Online DAO that’s building this next-gen ecosystem!
Get involved:
Sign up for the waitlist at moonscape.tech
Follow @moonscapelabs for updates
Speaking of DAOs... This week’s “Explain Like I'm Grelf” video will break down how DAOs work! Catch up on previous episodes on YouTube or 𝕏 before the new one drops.
⚠️ XRP Ledger Outage Raises Stability Concerns
On Feb. 5, the XRP Ledger (XRPL) experienced a multi-hour outage, halting transactions. This marks the second major disruption in three months.
Ripple’s CTO admitted that validators had to manually restart the network to restore functionality.
Critics pointed to decentralization concerns, questioning XRPL’s reliability.
Hedera’s unmatched track record of 100% uptime stands in stark contrast.
📜 House GOP Investigates Crypto Debanking (Operation Choke Point 2.0)
Did regulators quietly push banks to cut ties with crypto firms? A House subcommittee hearing on Operation Choke Point 2.0 put federal agencies under the spotlight, with Coinbase calling it "regulation by exhaustion." Some argue it's a crackdown on risk, while others see it as targeted debanking. The debate could shape future crypto banking policies.
Bitcoin tumbled below $100K after new U.S. tariffs sparked market chaos. But as trade wars disrupt traditional finance, DeFi could see a surge in adoption. With rising restrictions, more users may turn to decentralized solutions for financial autonomy.
🎉 Bonzo at HederaCon & The Ħ-Bar After-Party
🎉 Join us for the official HederaCon after-party—'The Ħ-Bar'—held at Meow Wolf in Denver on February 25th!
Get ready for the most epic after-party, hosted by Hedera & @developer_dao.
From 9:00PM to 1:00AM, you can expect:
🎧 @Wuki, @notannelisa, @billyjitsu_, and… x.com/i/web/status/1…
— Hedera (@hedera)
6:28 PM • Feb 5, 2025
Bonzo Finance will be front & center at HederaCon in Denver! Meet the team and catch the official after-party at Meow Wolf.
🗓️ Feb 25 | 🎟️ Register: hedera.com/hederacon
🎙️Weekly Bonzo Bytes 𝕏 Space
Our next Space is Friday, Feb 14 — don’t miss the latest Bonzo updates, Hedera insights, and more. Set your reminder now for the Bonzo Bytes 𝕏 Space and join us live!
Set a reminder on 𝕏
Thank you for being part of Bonzo Finance and the Hedera DeFi journey.
- The Bonzo Finance Team