Initia Launches Mainnet Genesis Assets, HUSD Launches as Hyperliquid’s Native Stablecoin, Earn 17% APR on USDC deposits, Upcoming Events and Token Unlock

Launches 🚀

• Initia has officially gone live with support for key assets including USDC, USDe, sUSDe, ETH, weETH, TIA, and INIT. Ethena Labs and other early users have started bridging assets to the new network, signaling initial adoption momentum.

• Halo launched HUSD, a native treasury-backed stablecoin for Hyperliquid, enabling seamless DeFi use on both HyperCore and HyperEVM. Built via M0 and Hyperlane, HUSD offers full collateral transparency and aims to return yield to the Hyperliquid community.

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Updates 📰

• Arbitrum now supports custom gas tokens for rollups using Ethereum for data availability, giving builders full flexibility in gas token design. This move aims to accelerate innovation across all Arbitrum chains.

• Layer3 has launched Sonic Rush, a new campaign spotlighting top teams building in the Sonic Labs ecosystem. Users can now explore and engage with Sonic directly through Layer3.

• Dinero has launched superETH, a new ETH liquid staking token for the Optimism Superchain, developed with InK and powered by LayerZero. It enables seamless ETH staking yield across the Superchain ecosystem.

• Ethena Labs’ USDtb is now live on Bybit as margin collateral for derivatives trading, offering a 95% collateral value ratio and 5% APR in daily rewards.

• Project Zero is now live on peaq, enabling AI agents and dApps in the Machine Economy to access real-time onchain data. Builders can create adaptive, data-driven applications and deploy AI agents that natively interact with machines—without complex infrastructure.

• Euler Labs has launched Vault Swap, allowing users to seamlessly switch collateral or savings between vaults without manual withdrawals—directly from their portfolio page in just a few clicks.

• f(x) Protocol has launched fxSAVE, a yield-bearing stablecoin backed by fxUSD and USDC, powered by real yield from stETH and perp fees. Live on Morpho, fxSAVE can be used as collateral or borrowed against, offering sustainable yield with no counterparty risk.

• Do you have Unclaimed Rewards? If you are a DeFi Saver user, you can now see all earned rewards from supported protocols directly on the Portfolio page, covering more than 10 tokens, including $AAVE, $COMP, and MO 0.00%↑ RPHO. No more digging through dashboards—just clear, instant visibility into your earnings. Check now—there might be a surprise waiting.

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Issues ⚠️

• Dedaub uncovered a stealth backdoor in staking project Tenderize, where a proxy upgrade briefly enabled ETH skimming before reverting to a clean contract—executed in a single transaction. The ETH was later withdrawn via Kraken. Dedaub suggests the pattern is recurring and the skimmed assets don’t match liabilities, raising serious red flags.

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Upcoming ⏳

• Nexus Labs has announced the launch timeline for its network: Mainnet I is set for Q3 2025, as revealed in a new teaser video.

• Pareto has unveiled $USP, a credit-backed synthetic dollar offering yield from institutional-grade real-world assets. Users can buy or mint $USP, stake to earn with sUSP, and access consistent returns via Pareto Credit Vaults. Launching early May.

• Frax will launch its North Star Upgrade on April 29, renaming FXS to Frax and making it the gas token for Fraxtal. The update turns $FRAX into the ecosystem’s core commodity, used for gas, fees, and long-term security. FXS on Fraxtal will auto-convert 1:1 to FRAX; Ethereum users must bridge to Fraxtal to convert.

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Is This Just the Start for Solana? Is this the Bottom for Crypto? 📽️

We look at stablecoin flows and yet again, more surprising ecosystem activity in this week's Ecosystem Update by Stephen

Watch here and subscribe to stay updated on our latest videos

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Airdrops 🪂

• Infrared has introduced a Points program to reward users for staking and providing liquidity in its vaults. Points are earned automatically and backdated to March 21 for early users. Select vaults offer boosted multipliers, such as WBERA-iBGT and WBERA-iBERA LPs. Users can track their points in the UI, with more integrations and earning opportunities set to roll out soon.

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Farms 🧑🏻‍🌾

• SolvBTC.BNB is now live on Pendle, offering BTC-denominated yields on BNB Chain with added rewards from Binance Launchpools, DeFi points, and tokenized yield trading. Users can farm boosted APY or deploy advanced strategies via Pendle’s yield markets.

• f(x) Protocol is offering over 17% APR on USDC deposits via its vault on Morpho. Users can now earn high yields while maintaining exposure to stable assets on Ethereum.

• Spectra is now live on Hemi, introducing yield tools like Fixed Rates and Yield Leverage. Users can earn fixed returns or amplify exposure to bfBTC yield and points—up to ~34x. The launch pool is seeded with $18M and offers the highest Hemi points multiplier for YT.

• Level has launched new Pendle pools for lvlUSD and slvlUSD, maturing September 25, 2025. Users can earn 40x XP for holding lvlUSD YT or LP tokens, and 20x XP for slvlUSD, with both pools now live on Ethereum via Pendle.

• Superform has added Morpho's Seamless USDC vault from SeamlessFi as a yield source for SuperUSDC on Base. Users can now earn up to 7% APY plus SEAM, MORPHO, and 20x Superform Points by depositing USDC.

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Upcoming Events and Token Unlock

Here are the Upcoming Events and Token Unlocks for this and upcoming week, including token unlocks, global crypto events, airdrops, TGEs, and key governance announcements . Stay updated effortlessly, all in one place.