Aave’s Bailout Fund Nears Full Coverage, MegaETH TGE, and more...
Subscribe for daily free DeFi news covering launches, tradable catalysts, and actionable farming opportunities.
Aave’s Bailout Fund Nears Full Coverage
Aave-led “DeFi United” coalition has assembled approximately 102,115 ETH (~$245M) in combined firm and pending commitments to cover the 75,081 ETH(~$180M) residual gap left by the April 18 rsETH exploit, with Aave and Kelp confirming a clear recovery path for affected rsETH holders. This is a developing story; read the full details here.
DeFi📈
MegaETH has set its MEGA token launch for April 30 after the project hit KPI-2, which required 10 incubated applications fully live on mainnet with over 100,000 cumulative transactions across 25,000 unique wallets, triggering a 3-day countdown to TGE.
Solana Foundation lent USDT to Aave for the first time to support its recovery efforts, framing the move as backing the broader DeFi ecosystem beyond Solana. Following the move, the AAVE token is now live on Solana via Sunrise DeFi and is available across major Solana apps, including Jupiter, Phantom, and Titan Exchange.
Arkham launched decentralized trading on its platform, enabling users to track and trade recently launched Solana tokens alongside real-time trader activity data.
Upshift, a vault platform, partnered with Securitize Fund Services to deliver institutional-grade reporting to onchain vaults, including auditable NAV, allocation transparency, and audit-ready data.
Ether.fi’s Liquid ETH vault is now accepting aWETH deposits to help users exit stuck Aave WETH positions, with the vault itself carrying no Aave WETH exposure.
Zest Protocol, a BTC lending protocol built on the Stacks Layer 2 blockchain, is launching mainnet soon, enabling users to earn BTC-denominated yield and borrow against Bitcoin without giving up custody.
Catalysis, an onchain risk underwriting protocol, launched on mainnet with a $1.5M wstETH delegation from EigenYields on EigenLayer, providing coverage for up to $10M in deposits on Gauntlet’s WETH Prime vault on Morpho.
Base announced its first independent network upgrade, Azul, targeting the mainnet on May 13, introducing multiproof security that combines TEE and ZK provers for faster withdrawals and improved performance.
Find and execute the 15%+ stablecoin yields in minutes
Save time without checking every protocol manually. DeFi Saver’s Discover page surfaces rates across Aave, Morpho, Spark, and more, lets you simulate leverage before committing, and handles the full loop in one click. Stop leaving yield on the table.
<Discover Yields on DeFi Saver> | Today in DeFi is Supported by DeFi Saver
Issues⚠️
Purrlend, a lending protocol on MegaETH and HyperEVM, lost approximately $1.5 million after an attacker was granted a “bridge” role through the protocol’s 2-of-3 admin multisig with no timelock, allowing them to mint unbacked tokens and drain the protocol. Community members have flagged the incident as a potential insider rug, though this remains unconfirmed. This is a developing story.
Scallop, a Sui-based lending protocol, lost 150K SUI after an attacker exploited a deprecated V2 package from November 2023 that allowed them to claim 20 months of accumulated rewards instantly. Users should note the rewards pool was fully drained.
A zero-day bug in Litecoin’s MWEB privacy layer let attackers push invalid transactions through non-updated nodes, briefly enabling unauthorized withdrawals to third-party DEXs before a 13-block reorganization — lasting over three hours — reversed them.
Volo Protocol, a liquid staking and automated yield platform on Sui, lost $3.5M across three vaults holding WBTC, XAUm, and USDC following a private key compromise, with approximately $2M frozen in coordination with the Sui Foundation and the protocol pledging to cover the remaining $1.5M to make affected users whole. The remaining $28M in TVL across other Volo vaults is unaffected. This is a developing story.
Yuzu Money, a stablecoin yield protocol (syzUSD), confirmed a $169,693 drawdown on its yzPP junior tranche from indirect exposure to the LayerZero/rsETH exploit, representing a 4.22% slash to its junior tranche. Senior tranche holders are unaffected, and redemptions resume immediately following the slashing event, with the portfolio returning to approximately 7% APY.
Stablecoins/RWA🪙
Apyx tokenized $50M of STRC into STRCx on xStocks, a platform for tokenized equities, bringing its balance sheet onchain for public verification while accruing future points rewards from the position.
Prediction Markets🔮
Polymarket is rolling out its CTF Exchange V2 upgrade on April 28 at 11:00 UTC, with roughly one hour of paused trading and all open limit orders cleared. The upgrade also migrates collateral from USDC.e to Polymarket USD (pUSD), an ERC-20 token on Polygon backed 1:1 by USDC
Jupiter, a Solana-based DEX aggregator, launched a Telegram-based prediction market bot with no platform fees for the first month for waitlist signups.
Perps DEX📉📈
Decibel, a perp DEX on Aptos, launched its native stablecoin usDCBL to keep trading value within the protocol rather than flowing to third-party stablecoin issuers, reducing fee reliance for traders.
Ostium, a perp DEX on Arbitrum, added HYG and TLT as tradeable assets, allowing users to trade exposure to high-yield corporate bonds and long-term US Treasury bonds directly onchain.
Farms 🧑🏻🌾
Hastra’s PRIME token, a liquid staking token backed by real-world home equity lending that earns up to 8% APY, is now usable as margin collateral on Project 0, a unified margin layer for deploying stablecoins across DeFi strategies.
RAAC and Euler launched a new vault on Ethereum where users can deposit pmUSD, RAAC’s RWA-backed stablecoin, as collateral to borrow USDC at up to 87% LTV, offering >25% leveraged APR.
Lista DAO launched a Rockaway X PT Yield Vault on BNB Chain, letting users deposit USDT against Pendle PT collaterals including PT-reUSD, PT-USDG, and PT-sUSDE.
Midas partnered with Re7 Labs to launch mRe7ETH, a tokenized market-neutral ETH yield strategy on Optimism, offering 6% ETH APR.
News🗞️
Justin Sun filed a federal lawsuit in California against World Liberty Financial, alleging the project wrongfully froze his WLFI tokens, stripped his governance rights, and threatened to burn them amid a disputed proposal that would impose a 10% advisor token burn and a two-year cliff on early purchasers. This is a developing story.
The Ethereum Foundation sold 10,000 ETH at an average price of $2,387 on 24 April via an OTC transaction with BitMNR, raising approximately $23.87 million to fund core operations including protocol R&D, ecosystem development, and community grants.
The Ethereum Foundation has also initiated the unstaking of $48.9M in ETH by depositing wstETH into Lido's unstETH contract, with proceeds pending once the unlocking process completes. Whether the foundation intends to sell the ETH remains unclear. This is a developing story.
For sponsorships, questions, or news tips, reach us at: support@todayindefi.com
Capitalizing on Airdrop Hype
Keep reading with a 7-day free trial
Subscribe to Today in DeFi to keep reading this post and get 7 days of free access to the full post archives.