Last Week in DeFi - BlackRock Interested in MakerDAO Competition, SEC Ends Investigation Into Paxos/BUSD, Lido Launches DVT with SSV, Term Finance Points Program, and more....

Recap: Week of July 8th

Launches 🚀

• Usual Money, a RWA stablecoin protocol, launches public mainnet. Usual allows users to get USD0 and bond it into USD0++ Liquid Bond, an enhanced T-bill with yield through ownership & governance redistribution.

• SuperBoring, a DCA exchange on Base L2, launches to the public with its referral program available for users to earn a commission of $BORING.

• Penumbra, a private proof-of-stake network and decentralized exchange for the Cosmos ecosystem, is live in Phase 0 of a three-stage process.

• JuicyPerp, a gamified options trading protocol, is live on Arbitrum. JuiceyPerp has introduced Perpetual Battles, allowing users to trade and predict nearly anything through gamified on-chain options.

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Updates 📰

• Coinbase Wallet launches a new web app that offers users a single platform for viewing and managing their entire crypto exposure, including tokens, NFTs, and DeFi positions.

• Paxos received a notice from the SEC that it will end the investigation into Paxos and Binance USD (BUSD), concluding that BUSD is not a security.

• Lido has implemented the Simple DVT Module powered by SSV. SSV-powered distributed validators (DVs) have been launched as part of the new Simple DVT Software Module, and are ready to accept deposits.

• Kinetix VE tokenomics is live, allowing users to lock KAI, earn weekly rewards, and vote, with bribes available to all projects.

• Sei V2 mainnet beta is available to the public. Sei V2 introduces its first parallelized EVM, with DeFi, NFTs, bridges, wallets, and analytic tools live on Sei.

• Safe{Wallet} now supports TWAP orders, minimizing price impact and optimizing trading strategy for traders executing large orders.

• SPOT Protocol, a flatcoin protocol built by Ampleforth, launches markets for SPOT on Aerodrome on Base L2. Meanwhile, SPOT Protocol has received $1 million in funding from Coinbase Ventures.

• Wormhole introduces native USDT transfers built on permissionless Uniswap v3 and PancakeSwap pools. Transfers are available on Ethereum, Arbitrum, Base, Optimism, Polygon, BnB Chain, and Avalanche.

• Moonwell, a lending protocol on Base L2, introduces Morpho Blue -powered Isolated Markets. Moonwell now offers 8 isolated markets for users to borrow specific assets using designated collateral.

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Issues 🚨

• Multiple crypto projects had their domains hijacked following a DNS attack targeting web hosting service provider Squarespace. Over 220 DeFi apps with a Squarespace domain, such as Compound, Pendle, Celer, etc. front-ends are at risk and users are suggested to avoid using them before projects secure their domains.

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Upcoming ⏳

• Spark Lend announces Spark Tokenization Grand Prix, an open competition to onboard $1 billion in tokenized RWAs to MakerDAO. Applications will open from August 12. BlackRock told Coindesk it is interested to participate.

• Sanctum Week is launching next week, with the site for airdrop and vault going live on July 16 and the CLOUD token launching on July 18.

• F(x) protocol releases $cvxUSD and $xCVX with the seed vault opening July 16. $cvxUSD is a stablecoin based on $CVX that allows you to earn the native staking yield from the ConvexFinance. $xCVX offers up to 3x leverage on $CVX with no funding costs or liquidation risk.

• Notcoin, 1inch, and Sequioa-backed proof protocol Sign have collaborated to launch Triangle, an accelerator program to attract developers to build on Telegram and TON ecosystems.

• Starknet plans to launch STRK staking in Q4 2024. The staking repo is live on Github.

• Rage Trade, a perps aggregator, is launching its RAGE token on HyperLiquid L1.

• Kwenta receives proposals to integrate GMX and Gains Network’s liquidity into Kwenta's perpetual marketplace.

• ParaSwap announces ParaSwap Delta, a new product that leverages the Portikus infrastructure on Paraswap, enabling users to trade tokens without worrying about MEV or Gas fees.

• Treasure DAO is voting to deploy Magicswap v2, a permissionless AMM that supports ERC-20 and NFT trading, on the Treasure Chain and network of Infinity Chains.

• Solv will launch SolvBTC.BBN, a liquid staking token for Bitcoin on Babylon. The SolvBTC Babylon launch will come with Solv Points incentives for early stakers.

• Puffer Finance introduces Puffer UniFi, a Based Rollup that will enable native yield, gasless transaction, enhanced security, unifiETH as the gas token, and more.

• RoboNet is launching soon as a DeFi platform for AI agents. Robonet will allow users to fund agents' vaults, which will execute their strategies automatically.

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Airdrops 🪂

• Rage Trade releases the RAGE tokenomics, with 6.5% distributed to airdrop receivers including V1 &V2 users and Hyperliquid OG spot traders.

• Blast Foundation will enable 2X points for all BLAST holders following the approval of BLIP-2. BLAST holders will also receive double points based on their balance since the TGE.

• Fuel Network, an optimistic rollup with a public testnet available, introduces the Fuel Points Program. Early depositors can earn more points as the program evolves, with the potential for additional incentives and higher loyalty rewards upon mainnet release.

• Term Finance, a fixed-rate lending protocol, introduces Term points. Season 1 ends in Q4 with a 2x boost for the first 500 users.

• Blast Phase 2 Gold distribution 1 is live, with 9.5 million Gold allocated to existing Dapps, and 0.5 million Gold to new Dapps.

• DeBank took a snapshot of the XP airdrop on July 4th. Active users on-chain and DeBank can claim their initial XP based on their on-chain assets, Credit, and Web3 Social Ranking. Users can earn more XP by referring friends, completing quests, and ranking higher on the leaderboards.

• Zircuit L2 took a snapshot for Zircuit Points Season 1, and Season 2 started on July 8 with more ways to earn rewards.

• Ether.fi Season 2 airdrop checker is live. Eligible users have to fill out a survey by July 10 to be eligible for the max airdrop.

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Farms 🧑🏻‍🌾

• Add your GHO on Spectra Finance to earn ~30.68% APR from AAVE and Merit Program

  • Today in DeFi is supported in part by ACI

• Solv opened SolvBTC Babylon 2nd epoch deposits on July 12, 12:00 UTC with a 500 BTC cap. Users can stake BTC to earn rewards on Ethereum, BNB Chain, Arbitrum, and Merlin Chain.

• Kamino has increased PYUSD incentives. Depositors can earn 382.5K $PYUSD every week.

• Optimism has launched SuperFest, a campaign to reward users for exploring DeFi within the Optimism Superchain. Starting today until the end of August, Optimism Collective will allocate 1.5M OP rewards to spur exploration and activity across OP Mainnet, Base, Mode, and Fraxtal.

• Trader Joe has enabled the Boost incentives across 13 Pools with rewards in AVAX. Phase 1 of Boost will last for 4 weeks.

• Lyra partners with Ethena to launch the sUSDeBULL pool, allowing users to earn 2.5x on their sUSDe yield when ETH goes up, and preserve their sUSDe yield when ETH is flat.

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