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When a new protocol launches by offering better incentives to steal users and liquidity from an existing protocol.
Definition
When a new protocol launches by offering better incentives to steal users and liquidity from an existing protocol. SushiSwap famously vampire-attacked Uniswap by offering SUSHI tokens to Uniswap liquidity providers who migrated. It's aggressive but has proven effective at bootstrapping new DeFi projects.
Related Terms
Earning tokens by providing liquidity to a protocol.
A cryptocurrency exchange that operates without a central authority, using smart contracts to facilitate trades.
Financial services built on blockchain without traditional intermediaries.
A DEX aggregator that splits trades across multiple decentralized exchanges to find the best overall price.
One of the biggest lending and borrowing protocols in DeFi.
A cross-chain bridge that uses an optimistic verification system and a network of relayers to move tokens between chains quickly.
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