News

Nasdaq and ICE, the parent company of the New York Stock Exchange, are collaborating with major cryptocurrency exchanges to create and trade tokenized versions of traditional stocks on the blockchain. These partnerships aim to promote the concept of an “all-asset exchange,” where all asset classes are traded on a shared blockchain infrastructure. Tokenized stocks are currently small in scale, but they could potentially transform the trading and settlement methods of the global $126 trillion stock market.

The International Energy Agency (IEA) issued a statement saying that record reserves of crude oil will be prioritized for release to the Asian market starting March 16, in order to address supply disruptions caused by the conflict in the Middle East. Oil supplies for Europe and the Americas are expected to be released by the end of March. The IEA pointed out that the Middle East conflict has blocked the critical Strait of Hormuz, causing severe supply interruptions in the global oil market. According to the statement, about 72% of the currently committed oil release is crude oil, while 28% is oil products. Director Birol emphasized that reopening the Strait of Hormuz is essential for restoring oil flow.

ChainCatcher News, Aave released a post-event analysis of a Swap incident: a user executed a token swap operation via the CoW Swap router integrated into the Aave interface. The user attempted to exchange 50,432,688 aEthUSDT (valued at approximately $50.43 millions) for aEthAAVE. Due to the exceptionally large size of the user's order in a market with insufficient liquidity, CoW Swap's quote was extremely poor, and the user confirmed acceptance of this quote. It should be noted that the Aave protocol itself was never at risk, as this swap occurred outside the protocol, via the aforementioned third-party Swap protocol. Currently, the relevant user has not contacted the Aave team. The key issue in this incident was insufficient market liquidity, not slippage. Insufficient liquidity means the market cannot provide enough assets at a specific price to fulfill large orders, resulting in severe price deviation. The user's order was far greater than the available market liquidity, and the CoW Swap quote was already 99.9% lower than the expected market clearing price. The unfavorable outcome resulted from the user's acceptance of the quote, not from price changes during execution. The fundamental cause of this incident was routing a large transaction in a market with insufficient liquidity, leading to extreme price impact. The user executed the transaction after confirming a clear warning on the interface. To prevent similar incidents, Aave Shield will be launched in the Swap widget: by default, swaps with price impact exceeding 25% will be blocked, and users must manually disable this to execute high-risk trades. This transaction generated approximately $110,368 in fees, which will be refunded after user verification.