Last Week in DeFi - Blueberry Protocol Live, Conic Launched V2, Lyra V2 Tokenomics, AEVO Farming Program, and more....

Recap: Week of Jan 29

Product Launches 🚀

• Pike launches on mainnets including Ethereum, Base, Arbitrum, and Optimism. Pike is a cross-chain lending protocol powered by Wormhole, Circle CCTP, and Pyth. Pike offers lending, leverage, and earning services.

• Gamified perp DEX ZKX launches on Starknet Mainnet with OG Trade live. Within OG Trade, traders get to compete in the 30-minute competition for rewards based on Profit, Volume, and Loss.

• Conic Finance, an omnipool platform for Curve LPs, launches V2. V2 introduces Liquidity Allocation Modules (LAMs), Bonding (coming soon), Platform Fees, Locker Migration, Airdropped vlCNC Boost, etc.

• AIP3 announces OEV Network, a Polygon CDK-powered zk-Rollup that captures OEV from all dApps that use API3 data feeds across all chains.

• Swell Network introduces rswETH, a native restaking token that allows users to stake Swell ETH and earn Pearls, EigenLayer Points, and future restaking rewards.

• Blueberry Protocol, a leverage yield protocol, is live. Blueberry now allows users to lend to earn lockdrop during the 56-day launch event.

• GammaSwap launches DeltaSwap, an AMM that charges no swap fees to traders and uses the canonical x*y=k formula, similar to UniV2. Users can now provide liquidity to earn fees, trade with a Long, Short, or Straddle, and trade spots without paying any fees.

• Router Protocol launches Router Nitro, an intent-based, modular cross-chain bridge. Router Nitro is live on nine chains including Ethereum, BNB Chain, Tron, Optimism, Arbitrum, Polygon, Avalanche, Polygon zkEVM, and zkSync, with more chains to be added in the coming days.

Project Updates 🚩

• Sturdy V2 launches borrowing. Users can recursively borrow against supported collateral assets to earn leveraged yields.

• Bracket Labs announces a new trading competition for BnB Chain users with a 20,000 USDT maximum prize. Competition runs from February 1st, 2024 — March 1st, 2024 0:00 UTC

• Dopex is sunsetting SSOVs (Single Staking Option Vault) by the end of February, and the team's core focus will be on our new flagship product, CLAMM (Concentrated Liquidity Automated Market Maker).

• Magic Eden introduces the Magic Eden Wallet. The Wallet supports Instant cross-chain swaps, NFT portfolio management, Native Ordinals & BRC20 assets, and End-to-end rare sats management.

• Solana introduces Anza, a new Solana-focused software development firm that intends to develop its validator client, Agave, and help build the Solana network.

• Morpho Blue and MetaMorpho Vaults are supported on Instadapp, allowing users to borrow from Morpho Blue and lend via MetaMorpho Vaults using the Instadapp Pro dashboard.

• Lido wstETH is now available on Linea. Users can now bridge their to Linea via bridge.linea.build

• Immutable zkEVM is now in early access mode and is available to select game studios and partners. The team also hinted at potential rewards for Immutable Passport users.

• Gravita now accepts $osETH from StakeWise as collateral for minting $GRAI.

Hacks/Issues 🚨

• Abracadabra was exploited and lost ~7M. The hacker exploited a rounding bug in the protocol and swapped stolen MIM tokens for ether. MIM experienced a depeg and dropped to around 0.77 (now re-pegged to 0.96). The team has fixed the issue and is tracking stolen funds.

Upcoming ⏳

• Wombat releases a whitepaper for the upcoming Volatile Pool AMM. The volatile pool is built on top of the DynamicPool invariant curve with additional features, including efficient re-pegging, dynamic haircut, and arbitrage block protection.

• Aave ACI proposes to introduce Merit, an Aave-alignment user reward system. Merit will serve as a multiplier-based reward system to reward certain actions with points, representing weekly distributions of stkAAVE and GHO rewards.

• Aura community proposes to re-ratify AIP 42 for six additional months while introducing various optimizations for AURA's tokenomics intended to reduce overall emissions without impacting core functions.

• The vote to activate Lyra V2 tokenomics is live. V2 tokenomics will enable decentralized ownership of v2, 150m $LYRA to bootstrap trading, and the DAO to earn ETH and USDC.

• Pika announces relaunching V4 with additional improvements including Asset Upgrade, Fairness in Vault PnL Calculation, Enhanced Oracle Contract, etc.

• Gnosis Pay is launching a self-custodial Visa debit card on Feb 5. Gnosis Cards will first be launched in Europe, with plans to launch in the US, Brazil, and India.

• Orbiter Finance is set to launch Orbiter Rollup, a ZK L2 that facilitates private transactions using ZK-SPV, supports OAA accounts, and allows dApps to access all cross-chain data within the ecosystem.

• Synthetix Andromeda Release is coming soon. The release will deploy Core V3 and Perps V3 on Base L2.

• Kava-based perp DEX Kinetix plans to launch Perps V2. V2 will enable trading for Forex, Commodities, and Indices, support new crypto pairs, and provide up to 100x leverage.

• Bitcoin lending protocol Sovryn will launch BitcoinOS, a network of interoperable Bitcoin rollups that share Bitcoin’s security.

Airdrops🪂

• Stride, a liquid staking protocol on Cosmos, launched stTIA and airdropped 5M STRD (5% of max supply) to early stTIA holders.

• Aevo will launch the first AEVO Farming Program. The first snapshot will be taken before the Farming Program, and users can still increase their airdrop by participating in the Farming Program.

• Shimmer Network announces a 1M liquidity mining airdrop. The program begins on 31 January 2024, at 3:00 PM CET, and is designed to attract fresh liquidity to ShimmerEVM.

• Mode, an OP Stack-based L2, launches Sunrise Mainnet and its first airdrop campaign. Users can earn points on Mode based on their past activities and through bridging, inviting friends, using Mode dApps, and completing quests.

• Ether.fi starts the Mega Week campaign. 3M EigenLayer points are being distributed to new and existing eETH holders over the next 10 days.

• If Delta Prime reaches the next milestone ($9M TVL) in three days, the team will give away a 15K USDC airdrop.

• Stride announces that 150,000 STRD will be dropped to users who hold stDYDX over the next 120 days, and the first snapshot was taken on Jan 30.

• Unibot users on Solana can share their PnLs to earn UNISOL, and the team will do an airdrop for Solana users and UNIBOT holders.

• EigenLayer-based restaking protocol Inception is live and allows restaking. Users can join the waitlist (for EigenLayer to raise LSP caps) to earn EigenLayer Restaked Points, Totems, Dual-layer restaking yields, and Airdrop.

• GammaSwap introduces GammaSwap Points. For retroactive rewards, NFT holders and Alpha Mainnet participants can view their points on app.gammaswap.com/points. Other users can earn points by providing liquidity, borrowing liquidity, and referring new users (referrals will be live soon after launch)

• Parcl launches Season 2 of Parcl Points. Season 2 offers boosted points rates, increased yield, enhanced UI, new markets, etc.

• Jupiter users and NFT holders could claim their shares of the WEN airdrop, a newly launched memecoin on Solana.

Farms 🧑🏻‍🌾

• Clearpool USDT USDC pools on OP earn good yields with incentives.

• IdleDAO USDT yield tranches on Polygon zkEVM offer good APYs with auto-compounded MATIC reward boost.

• Penpie aUSDC earns a good APY in $ARB incentives and $PENDLE rewards.

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