Today in DeFi - Radiant Ownership Stolen with $53M Loss, Fuel Ignition Mainnet Live, Mode Season 3 Live, Premium Preview: USD Farm - Provide Liquidity for 29% APR, and more..
Launches π
Fuel Ignition, a high-performance Ethereum L2 verifiable on standard household PCs, is now live on mainnet. Built on Fuel's architecture, Ignition utilizes a UTXO-based transaction model, FuelVM, native account abstraction, and offers Ethereum-grade security. With the ability to process over 21,000 transactions per second (TPS) per CPU core, average fees below 0.0002, and block times under 1 second, Ignition is optimized for any EVM asset. Users can now bridge funds and explore dApps deployed on Fuel Ignition.
Covalent's EWM Light Client Testnet is live, offering rewards for securing Ethereumβs historical data. Participants can earn 20-25% APY and gain early access to the mainnet. For more information regarding the EWM Light Client, visit here.Β
Today in DeFi is supported in part by Covalent
Hyperlane, in collaboration with Velodrome, has introduced Superlane, an interoperability solution designed to address fragmentation across Optimism Layer 2 (L2) chains. Superlane leverages many advantages of the upcoming Optimism Superchain, such as shared liquidity and interchain applications, offering these benefits ahead of the Superchain's full launch.
DIAβs new Rollup-Powered βLuminaβ Reimagines Oracles
Discover Lumina, DIAβs cutting-edge new oracle stack, delivering the most trustless and verifiable data feeds in DeFi through its native βLasernetβ Ethereum Layer-2 rollup.
The DIA utility token β the gas token of the Lasernet, captures value generated by data usage revenue and redirects it to stakers, nodes and holders, setting the foundation for an economic flywheel βDIA staking is on the horizon, weβve heard.Β
Today in DeFi is supported in part by DIA
Updates π°
Ondoβs USDY is now live on NAVI Protocol on the Sui Network. With over $1 billion in total value locked (TVL), Sui is emerging as a major hub for decentralized finance, and NAVI currently holds the position as the largest protocol by TVL on the network.
Silo has joined the INFINIT ecosystem, the DeFi abstraction layer. Users can now earn INFINIT rewards through Silo, and by participating in various DeFi activities such as lending, borrowing, or providing liquidity across INFINIT Ecosystem Protocols or the INFINIT website. INFINIT Stones reflect user contributions and stakes within the ecosystem.
Pencils Protocol Γ Owlto Triple Rewards Event is now live, running until October 19. Participants can earn Scroll Marks, Owlto Badges, and 3x Pencils by bridging assets to Scroll via Owlto and staking assets within Pencils.
Issues π¨
Radiant Capital has experienced a security breach on both the Arbitrum and BNB Chain networks. The protocol team's multi-signature wallet, which controls the contracts, was compromised, leading to a transfer of ownership. As a result, approximately $53 million has been stolen, and the team has not yet regained control of the wallet. All users are strongly advised to revoke any permissions granted to the protocol immediately.
Upcoming β³
Storm Trade's STORM Token Generation Event (TGE) is scheduled for today at 13:00 UTC. As the largest derivatives DEX on the TON network, with millions of dollars in daily trading volume, Storm Trade will allocate 30% of its protocol revenue to STORM stakers. The tokenβs initial market capitalization is set at $12 million. Storm Trade is backed by or collaborating with notable names such as Not Coin, Cointelegraph, Pyth Network, eesee.io, TON Starter, Magic Square, Catizen, and Quantstamp.
Maple Finance will launch its SYRUP token on November 13. Revenues generated by the protocol will be used to buy back SYRUP, with emissions directed to SYRUP stakers.
Airdrops πͺ
Mode Season 3, featuring veMODE, is now live with $2 million in incentives. This season introduces veMODE, the first vote escrow model at the chain level on the Superchain. As an upgrade to the MODE staking module, veMODE adds a new governance layer to the platform. Stakers of MODE and 80/20 MODE/ETH Balancer Pool Tokens (BPT) will gain voting power, determining which protocols receive rewards. These protocols will then distribute rewards to users who stake and vote through their campaigns.
Brahma has launched Phase Two of its rewards program. Users can now boost their KARMA by engaging with Morpho, Pendle, Bebop, and Usual Money through the Brahma Console. Power users of these partners may unlock an additional 10% boost on Console Creation. Phase Two will end on November 17.
Jupiter Exchange has announced that ASR rewards will be available for claims starting October 21, as confirmed in the latest Planetary Call. The ASR site will go live on October 18 to allow users to check their allocations.
Fuel Points Phase 2 is also now live on the newly launched Ignition mainnet. Users can continue to earn points passively and gain additional points for activity, gas, and loyalty by migrating pre-deposit funds from the testnet or bridging to Ignition. Interactions with dApps like Mira Protocol and Sway Lend are also eligible for points.
deBridgeβs DBR token will be open for claims today at 08:00 UTC.
Swell has introduced a new points system called Black Pearls. Users can earn Black Pearls by holding swETH, rswETH, and swBTC or using them in approved DeFi protocols. Black Pearls can be redeemed for SWELL at Wavedrops, which occur every ten weeks, with the first scheduled three weeks after the Token Generation Event (TGE).
Farms π§π»βπΎ
Stake your GHO to earn ~16% APR from AAVE and Merit Program
Today in DeFi is supported in part by ACI
For sponsorships or news tips, reach us at: support@todayindefi.com
Premium Preview: USD Farm - Provide Liquidity for 29% APR
Description
Resolv is a protocol that maintains USR, a stablecoin backed by Ether (ETH) and pegged to the US Dollar. Spectra is an EVM-centric protocol focused on interest rate derivatives, featuring a user-friendly flagship app similar to Pendle.
Resolv USR is a synthetic stablecoin comparable to USDe. It is overcollateralized with ETH liquid staked tokens (LST) and utilizes short perpetual positions to reduce delta while taking advantage of the funding rate. Additionally, Resolv incorporates a protection layer of RLP to help maintain the peg of USR, which may enhance its stability compared to USDe.
Benefits
π High APR from a low-risk stablecoin position
π Diversified sources of yields
π Resolv Points for potential future airdrops
Risk Involved
β οΈ Spectra smart contract risk
β οΈ wstUSR and USR depeg risk
β οΈ Spectra default risk
β οΈ Low TVL
Security
β Spectra is audited
42 security auditors of Code4rena: Spectra audit on Code4rena, March-April 2024, Full report, Results: 0 High-risk findings, 2 Medium-risk findings, 11 Low-risk/non-critical findings.
Pashov Audit Group: Spectra-core repository, March 2024, Full report, Results: 0 High-risk findings, 3 Medium-risk findings, 15 Low-risk/non-critical findings.
β Curve is audited
β Resolv is audited
The audit does not guarantee any hacks. Please do not invest with more than you can afford to lose.
User Guide
Go to Spectra and connect your wallet.
Click "Pools", then choose the Resolv USR market.
Select the assets you would like to deposit. You can supply either USR or wstUSR:
USR can be obtained via Resolv Website or Curve Swap
wstUSR can be obtained via Resolv Website
Enter the amount you would like to supply.
Choose whether to supply in balanced mode :
Balanced mode on: You will receive equivalent amounts of LP and YT-wstUSR tokens with zero price impact.
Balanced mode off: You will only receive LP tokens and may experience negative price impact.
After checking the details, approve the spending and confirm the transaction in your wallet.
Regularly claim your rewards here.
Regularly check Resolv Points here.
Resources
Subscribe to our premium for more content like this. Try our 7 day free trial here
If you have any questions or feedback feel free to reach us atΒ support@todayindefi.com
FollowΒ @todayindefiΒ to keep up with the latest DeFi news on Twitter.
Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned.