Today in DeFi - Suilend Announced $SEND, Jupiter Active Staking Rewards, Avalanche Card

Launches 🚀

• Avalanche introduced the Avalanche Card, enabling crypto-friendly spending at locations accepting Visa. Users can join the waitlist and access terms, conditions, and card details via the provided link. This offering aims to enhance Avalanche's usability for daily transactions across various merchants.

• Arrakis Finance launched HOT, a MEV-aware AMM built on the Valantis Protocol, intended to support LPs by addressing challenges in DeFi market making. It seeks to provide improved returns for LPs and may contribute to changes in DeFi through MEV-aware market making.

• Swaylend launched on Fuel Ignition and reached milestones, including over $15M in total supply. Fuel Points Phase 2 is now active, offering 2x rewards for borrowing, lending, and incentivized asset usage, with additional collateral assets expected.

• Covalent's EWM Light Client Testnet is live, offering rewards for securing Ethereum’s 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. 

  • Today in DeFi is supported in part by Covalent

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DIA’s new Rollup-Powered ‘Lumina’ Reimagines Oracles

• Discover Lumina, DIA’s cutting-edge new oracle stack, delivering the most trustless and verifiable data feeds in DeFi through its native ‘Lasernet’ Ethereum Layer-2 rollup.

  The DIA utility token – 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 —DIA staking is on the horizon, we’ve heard. 

  • Today in DeFi is supported in part by DIA

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Updates 📰

• Ondo Finance noted that Sui Network is the second-largest non-EVM DeFi ecosystem, with NAVI Protocol accounting for approximately 40% of Sui's $1B in total value locked (TVL). NAVI's developments in DeFi, particularly regarding tokenized real-world assets (RWAs) and yieldcoins, are associated with this growth.

• Suilend announced the upcoming launch of its token, $SEND, expected in December, with further details on tokenomics and mechanics to be provided soon. Additionally, Suilend will distribute 2x points for the remainder of the current points season, allocating 20 million points daily for deposits and borrows.

• The Arena confirmed that the $ARENA token will launch on Tuesday, October 29th. The platform has seen an increase in user activity, with thousands of new users and tens of thousands of trades in the past week, resulting in a higher load. To accommodate the anticipated traffic during the token claim, the team plans to optimize its infrastructure.

• Hyperlane introduced Superlane, an interoperability solution developed in collaboration with VelodromeFi and Optimism's Superchain. Superlane aims to address fragmentation from the pre-Superchain era, facilitating native cross-L2 interoperability.

• M^0 introduced the $M stablecoin, intended to address risk, transparency, and functionality. Minted off-chain with approved collateral like short-term U.S. Treasury bills, $M is pegged to $1 and integrated into various protocols to support DeFi applications.

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Airdrops 🪂

• Jupiter announced that Active Staking Rewards are now live, with 50 million JUP and 7.5 million CLOUD to be distributed to active voters. When claimed, JUP is staked, while CLOUD is credited to wallets.

• Astrol announced that Astrol on Testnet is now live. Before launching on Eclipse Mainnet, a limited beta testing phase is available to improve user experience.

• World has announced the launch of World Chain alongside the Unique Humans collection, which is now available for free minting on the World Art Mini App.

• Magic Eden partnered with Own The Doge and Ledger to release the Limited Edition Magic Eden x Own The Doge x Ledger Flex. Users can participate in the Ledger quest for a chance to win a free Flex and gain early access to the pre-sale. Join their space on October 23rd for another chance to win.

• Solayer announced that the EP2 portal is live along with the Solayer EP2 airdrop. Users can visit the portal to claim rewards.

• Sonic Labs, formerly known as Fantom, invites users to play Wheel with @MainnetMari to earn points for the upcoming ~200M $S airdrop on Sonic Arcade. Players can join via Sonic Arcade.

• Bedrock announced it will be distributing 150K ARB and 5,000,000 Diamonds to select key partner protocols as part of its uniBTC momentum on Arbitrum.

• Kelp DAO reminded users that Kelp Gain participants will soon be able to claim their SCR tokens from Scroll ZKP through the Kelp dApp on the Scroll network.

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Farms 🧑🏻‍🌾

• Stake your GHO to earn ~16.09% APR from AAVE and Merit Program

  • Today in DeFi is supported in part by ACI

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Free Airdrop: Quest to earn points of promising RWA project