Last Week in DeFi - Aave v3 Coming to Ethereum, DCG Filed Bankruptcy, Polygon Hardfork Live , and More...

Recap: Week of Jan. 16th

Product Launches 🚀

• Polygon PoS Hardfork Live
  Polygon has upgraded its PoS chain. The upgrade helps reduce the frequency and depth of reorgs, and improve transaction finality.

• IndexCoop dsETH
  IndexCoop launches dsETH, an index token of the leading Ethereum liquid staking tokens. The initial components include Rocket Pool ETH (rETH), Wrapped Lido Staked Ether (wstETH), and StakeWise Staked ETH2 (sETH2).

• Compound V3 WETH Market
  Compound V3 launches the WETH market, allowing users to borrow ETH using stETH and cbETH as collateral.

• Dopex OLPs Live
  Dopex launches Options Liquidity Pools (OLPs). OLPs allow buyers of SSOV options to exit their position into option liquidity pools at any time in exchange for a discounted price.

• Gemzy Vaults Live
  NFT ownership sharing protocol Gemzy is live with a few vaults available. Gemzy vaults allow a group of participants to pool ETH and purchase NFTs through the Opensea platform, or directly OTC, and split ownership of the purchased NFT among participants based on the % of ETH they contributed to the purchase.

• Harpie On-chain 2FA
  Harpie launches Eagle RPC, allowing users to enable 2FA for their existing wallets. Eagle is in beta and only available to a group of testers at the moment.

• Gitcoin Alpha Round
  Gitcoin is retiring its centralized platform and transitioning to the new grants protocol. The Gitcoin Alpha Round will run from Jan 17-Jan 30, donors will be able to donate to 200 grantees across 3 rounds while helping Gitcoin to test and improve the new protocol.

Project Updates 🚩

• Visa Lists Alchemy Pay
  Visa has listed Alchemy Pay, a payments platform, as one of its official service providers. Alchemy Pay is currently able to process fiat payments to purchase cryptocurrencies for Visa cardholders in 173 countries.

• Premia V3 Whitepaper
  Options protocol Premia releases the V3 whitepaper. V3 updates include a Concentrated liquidity AMM, Margin for sellers provided by lenders earning interest, Vaults for set-and-forget strategies, and the RFQ network to improve liquidity in less liquid options.

• Alchemy Supports Apple Pay
  Crypto payments platform Alchemy now supports Apple Pay, allowing users to buy cryptos on mobiles using credit/debit cards.

• Linux Foundation OMF
  Linux Foundation, a nonprofit focused on fostering innovation through open source, has established the Open Metaverse Foundation (OMF) for metaverse standards

Governance Highlights 📝

• dYdX Delayed Token Unlocks
  The DYDX token unlock has been delayed until Dec 1st, 2023. The amount of the Feb unlock now gets reduced by 83m DYDX (~$156m), shifting a significant part of the impact to the end of the year.

• Maker to Deploy 100m to Yearn
  Maker governance passed the ratification poll to deploy $100 PSM USDC to Yearn vault.

• Temp Check: Uni V3 on BnB Chain
  Uniswap governance passed the temperature check on deploying v3 to the BnB chain.

Hacks/Issues 👾

• DCG Filed Bankruptcy
  DCG Filed Chapter 11 Bankruptcy on Saturday.

Upcoming ⏳

• Aave V3 Etheruem
  Aave is about to release V3 on Ethereum. V3 Ethereum will have 7 initial assets, support eMode for wETH and wstETH, and the interest rate models of v3 will be mostly following v2. A governance proposal is expected to be out this week if the review process goes well.

• Radiant V2
  Cross-chain lending protocol Radiant introduced V2. The new version will have improvements on tokenomics and cross-chain borrowing, a higher barrier to entry for emissions, multiple new chain launches, LayerZero OFT implementation, and new mechanics to propel v2’s growth.

• Swell Network Upgrade
  Liquid staking protocol Swell which is currently in a guarded launch, will upgrade its swETH token and release new features such as swETH yield optimization vaults, DeFi integrations, etc. ETH staking deposits will launch in late Q1.

• StarkNet Wallet Updates
  StarkNet will release wallet improvements in the coming weeks and is reminding users to pay attention to their wallet providers on wallet updating.

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