Aave Loses Key Risk Manager, Lido $21M Buyback, and more...
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DeFi📈
Chaos Labs is stepping down as Aave's risk manager after three years, citing unsustainable economics, expanded scope from V4's new architecture, and a fundamental misalignment on how risk should be prioritized.
HyperLend launched V2, a full rebuild of its lending protocol on Hyperliquid with deeper HyperCore integration and new looping and isolated market features.
Lido DAO is authorizing the Growth Committee to execute a one-time LDO accumulation program using up to 10,000 stETH from treasury reserves.
Aave launched V4 on Ethereum, introducing a Hub-and-Spoke architecture that unifies liquidity across markets while isolating risk and adding risk-based borrowing and improved liquidations.
Aerodrome and Velodrome are merging into Aero, a unified Ethereum liquidity layer launching July 2026. Existing AERO and VELO holders will receive 100% of the initial supply with no dilution.
Ante has launched Ante Vaults, a self-custody vault that automatically transfers crypto to designated recipients if a user stops checking in.
Pendle launches Limit Order Incentives across all pools with up to 100% APR for in-range orders. The $5K weekly budget pilot achieved 5x orderbook depth growth, now rolling out network-wide.
OpenCover has launched Covered Vaults in partnership with Nexus Mutual, allowing DeFi vault depositors to insure positions against technical and economic losses with up to $50M in cover capacity per vault, no prepayment, and premiums streamed directly from yield.
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Stablecoins/RWA🪙
deSPXA, the first licensed S&P 500 index fund token, launches on Base with Aerodrome as its trading venue.
Midas has launched mROX, an onchain investment product managed by Rockaway X, a $2B AUM digital asset firm, targeting market-neutral USD-denominated DeFi strategies.
Prediction Markets
Prism, a native trading terminal on MegaETH, integrates Polymarket, allowing users to trade with USDm, USDT0, and ETH.
Predict.fun, a prediction market on BNB Chain, has raised a follow-on investment from YZi Labs and Susquehanna Crypto after surpassing $1.8B in cumulative volume and 130,000 users since its incubation.
Perps DEX📉📈
Aster DEX has partnered with World Liberty Fi to launch USD1-denominated RWA markets including gold, silver, crude oil, and CLUSD1.
SushiSwap launched its perp trading platform powered by Hyperliquid, along with sushi-points distribution for early users.
Nado, a native perp on Ink, has launched perpetual trading for SPY and QQQ, allowing traders to take up to 20x leveraged positions using BTC, ETH, or USDT as collateral.
Paragon, a HIP-3 deployer, enables traders to take leveraged positions on indices like BTC Dominance, TOTAL2, and OTHERS for the first time.
Lighter has partnered with Wallet on Telegram to bring perp trading natively to the platform, offering 50+ markets across crypto, stocks, metals, and oil with up to 50x leverage starting at $1.
Airdrops🪂
infiniFi launched Katana point multipliers for the next week, including 3x for holding siUSD on Katana and up to 18x for collateral supply on Morpho.
Ondo Foundation took a snapshot for its Points Program, with wallets holding USDY, OUSG, or Flux users able to claim up to 500 USDC.
Concrete launched a 3x points boost for vault deposits via Binance Wallet, automatically receiving the multiplier with no additional steps.
Farms
Yield Basis launched HybridVaults, enabling single asset deposits with no IL. Pool starts with 25M WETH capacity on Ethereum, offering 5% ETH APR.
Issues⚠️
Drift Protocol, a Solana-based perpetual futures exchange, lost over $285M after an attacker compromised its admin key weeks in advance, created a fake token (CVT) with manipulated oracle pricing, and drained real assets, including USDC, JLP, SOL, and WETH, across 31 transactions in under 15 minutes.
Protocols impacted: Ranger Finance, Elemental DeFi, PiggyBank, and DeFi Carrot, confirmed losses or paused operations
Protocols not impacted: Kamino, Marinade, Jupiter, and Loopscale all confirmed zero exposure.
Steakhouse Financial has warned users not to interact with its website or app after a phishing attack redirected its domain to a malicious site via a social engineering attack on its DNS provider. All depositor funds and contracts remain safe.
News🗞️
Gnosis launched the Ethereum Economic Zone (EEZ), a framework that enables L2 rollups to interact with the mainnet atomically in a single transaction, eliminating the need for bridges.
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