Last Week in DeFi - Aave V3 Live on Ethereum, Fantom fUSD Migration, Friktion Sunsetting, and More...

Recap: Week of Jan. 23rd

Product Launches 🚀

• Aave v3 Live on Ethereum
  Aave launches v3 on Ethereum, with unlocked features such as High-Efficiency Mode, Isolation Mode, and Gas Optimization.

• DeFi Saver Support for Aave v3

  Lending automation protocol DeFi Saver now provides support for Aave V3 on Ethereum. Users are able to create leveraged positions, boost & repay, close positions, migrate v2 to v3, etc.

• Cap v4 Beta
  Cap launches V4 beta on Arbitrum. V4 offers low fees and zero slippage, asset prices are bound by Chainlink, and UIs are mirrored on IPFS. V4 supports 20+ markets including BTC, ETH, SPY, EUR, etc., and more are on the way.

• Lyra Live on Arbitrum
  Optimism-based options protocol Lyra now accepts deposits on Arbitrum, allowing users to get prepared for the upcoming Newport launch and earn trading/LPing fees.

Project Updates 🚩

• Paraswap PSP 2.0
  Paraswap revamps the PSP token model to 2.0. The 2.0 brings new staking options, reduces PSP emissions, and introduces Social Escrow - incentives for native stakers.

• Fantom fUSD Migration
  Fantom co-founder Andre Cronje published the migration of fUSD v1 to v2. Fantom will be able to allocate fees in FTM or fUSD, and fUSD will implement liquidations.

• Conflux NFTs
  Conflux is an L1 with a hybrid PoW/PoS consensus and is the only regulatory-compliant public blockchain in China.
  Little Red Book (XiaohongShu), China’s version of Instagram integrates Conflux Network, allowing users to showcase NFTs minted on Conflux on their profile page in the digital collection section called ‘R-Space’.

• Celo 2.0 Roadmap
  Celo releases the roadmap for 2.0. Celo will keep alimgment with Etheruem’s roadmap, aim for scalability to become rollup friendly, and will refine the tokenomics to make CELO deflationary inder certain conditions.

Hacks/Issues 👾

• Friktion Sunsetting
  Solana-based yield protocol Friktion moved all vaults to withdrawal-only mode on Jan 25th as the beginning of its sunsetting progress. The protocol costs have outpaced revenue which led to the decision to close down Friktion.

Upcoming ⏳

• Vega Mainnet Simulations

  Cosmos-based trading appchain Vega will launch Mainnet Simulations on Jan 31.

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• New GLP Vaults

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