Last Week in DeFi - Beeple NFT Platform, Mirror V2, ETH2 Staking Problems, and More...

Last week saw major updates and launches such as Mirror V2, KeeperDAO V2, Beeple’s newly founded NFT platform, and insurance platform Risk Harbour.

Other projects added new features: Inverse Finance enabled borrowing & lending against stETH, Yearn added a crvTricrypto pool, and Pickle added a symbiotic LQTY vault.

Two ETH 2 Staking projects blew up last week. StakedHound lost its private keys, while SharedStake seemingly rugged. Polygon project Polywhale also had a soft rug.

Some upcoming news: Sushi will launch on Harmony to be multi-chain, Popsicle is working with Alchemist, Yield will launch V2, and Rari will franchise on Polygon as Rake Protocol.

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Major Launches 🚀

• Mirror V2
  Synthetic asset project Mirror Protocol has launched V2 on mainnet, adding new assets & features like pre-IPO assets, new collateral options, and addressing asset premiums.

• Keeper DAO V2
  KeeperDAO released V2 which features a better interface and new features for Keeper’s gas-free limit order DEX.

• Beeple NFT Platform We.new
  NFT artist Beeple co-founded we.new and choose to launch on Polygon. We.new lets users create influential sports and music events as NFTs.

• Risk Harbour
  Insurance platform Risk Harbour launched on Ethereum mainnet, supporting Harvest and Barnbridge out of the gate.

• Amun DFI & DMX
  The two index products both track top-performing assets, and are available on Amun’s website, Zerion, and Uniswap.

Project Updates 🚩

• Yearn crvTricrypto Pool
  Yearn launched a new crvTricrypto vault consisting of BTC, ETH, and USDT.

• Inverse Supports skETH Loans
  Inverse Finance listed Lido’s stETH on Anchor, Inverse’s second money-market protocol. Users can now lend and borrow against stETH.

• Pickle LQTY Staking
  Yield aggregator Pickle added a new symbiotic vault that earns users both LUSD and ETH with auto-compounding.

Incident ⚠️

• SharedStake Rugged
  SharedStake’s SGT token has apparently been rugged by a “rogue dev”(according to team members) for approximately 500k. The team is currently working to resolve the situation.

• StakeHound Key Loss
  ETH2 staking provider Stakehound has lost the private keys to its ETH2 stake, causing a $75m loss in funds. StakeHound later filed a suit against Fireblocks for not storing backups properly, while Fireblocks claims Stakehound is at fault in return.

• Impossible Exploited
  BSC stable swap project Impossible got exploited for 0.5M. A missing xy=k check seems to be the vulnerability, which led to this attack being possible.

• Polywhale Soft Rug
  Polywhale team has withdrawn $1M in tokens from the treasury and officially exited the project in a “soft rug”. While “soft” for single-sided stakers, pool2 LPs were in for a harder landing.

Upcoming⏳

• Sushi on Harmony
  Sushi keeps expanding multi-chain and will launch on Harmony, an EVM-compatible blockchain with sharding and staking features.

• Popsicle Alchemist Collaboration
  Multi-chain yield aggregator Popsicle partners with Alchemist to introduce passive liquidity management to Alchemist Crucible holders, and to enable Popscicle LPs to partake in Alchemist LM programs.

• Yield Protocol V2
  Yield is launching V2 to offer fixed-rate lending and borrowing, and will also integrate with MakerDAO to enable Maker to lend at fixed rates.

• Rake Protocol
  Rari Capital is expanding to Polygon, in the form of Rake, an independent franchisee that will bring Fuse to Polygon to enable low-cost borrow and lending across long tail assets.

• Anyswap V3 on Arbitrum
  The V3 upgrade includes native swaps, and a multi-chain router.

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Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned.