Last Week in DeFi - Bumper Live, Valorem Closed Beta, sFRAX Proposal, CFTC Issues Orders Against DeFi Protocols, and More...

Recap: Week of Sept. 4th

Product Launches 🚀

• Bumper Live
  Bumper is live on Ethereum mainnet with LM and incentives. Bumper is an options protocol that protects users from downside price movements, and is 30% cheaper than observed market prices.

• Arrakis LST Vaults Live
  LP management protocol Arrakis launched LST vaults and the LM program, allowing users to earn rewards in wstETH or OP.
  LST vaults are “Market-Making Vaults built on top of Uniswap V3 optimized for LST token market depth and risk management for LPs.” LPs will be earning wstETH or OP in rewards.

• One-tx Leveraged Staking
  DeFiSaver just released ETH Saver, a new website with one-tx leveraged eth staking, making it easy for users to participate in these strategies. ETHSaver is non custodial and users can choose the lending protocol and LSD they like.

• Avalanche Multiswap Live
  Multiswap, a multi-asset swap AMM created by CavalRe, is live on Avalanche. Multiswap allows users to concentrate liquidity and swap multiple tokens in a single transaction, with a UX made easy for traders and LPs.

• Raft V2 Live
  LST-backed stablecoin project Raft launches V2, introducing the 6% R Saving Rate and PSM.

• Liquis Live
  Liquis, a liquid governance wrapper for Bunni Pro (liquidity management for Uni V3), is live. Liquis allows users to stake range tokens to earn boosted emissions on Bunni.

• Wombat Alpha Cross-chain Pool Live
  Wombat launches Alpha Cross-chain Pools. Traders can swap $USDT and $USDC across the BnB chain, Arbitrum, and Ethereum. LPs can earn good APRs by supplying to the alpha pools on supported chains.

• Aave Debt Swtich
  Aave introduced a new feature allowing users to seamlessly switch borrow positions. this allows users to switch debt in order to reduce their borrow aprs.

  Aave also introduced Withdraw and Switch, which allows users to withdraw their position into the asset of their choice.

• Multisig on Starknet
  Braavos Wallet launches the Multi Owner Account feature, enabling collaboratively treasury management and enhanced account security on Starknet.

• SSV Jato V2 Testnet Live

  DVT protocol SSV’s Jato v2 testnet is live, taking the protocol closer to mainnet.

• Gnosis Card Live in Europe
  Gnosis Pay launched the Gnosis Card (Visa debit card) in Europe, with plans to launch in the US, Brazil, and India.

Project Updates 🚩

• Valorem Closed Beta
  Valorem, an options protocol for any ERC20, launches closed beta on Arbitrum. Users need an access pass NFT to use Valorem beta.

• Paraswap Live on Polygon zkEVM
  DEX aggregator Paraswap expands to Polygon zkEVM.

• Swell swETH Going Cross-chain
  Swell has integrated with LayerZero and turned swETH into an Omnichain Fungible Token (OFT). Users can now trade and LP swETH on Arbitrum, with other L2 supports coming soon.

• Cega ETH Stakers Vault
  Structured investment protocol Cega launches Eth Stakers Vault. The options vault provides a fixed two-digit yield with a “4.79% probability of loss”, and exposure to mainstream LSD tokens.

• LayerZero Pre-launch Perps
  Hyperliquid launches the ZRO-USD perps, allowing users to go long or short on the value of the launch-coming native LayerZero token $ZRO.

• Hxro Zero Day Futures
  Solana based derivatives exchange Hxro has launched Zero Day Futures. This derivative is a one day(25hr) expiry future which allows traders to speculate on majors or alts. At the end of each day the contract settles into USDC.

  As the contracts settle in USDC, it could make it easier for Market makers to provide liquidity on otherwise illiquid alts.

• Bridging to Cosmos via Gateway
  Osmosis community voted Wormhole as a bridge service provider. Powered by Wormhole Gateway, users can now bridge $SOL, $SUI, $APT, and $BONK to Osmosis through the Portal interface.

• Stella Telegram Bot
  Stella (fka. Alpha) launches Sirius, a Telegram bot that allows users to track their leveraged strategy positions, discover top 5 strategies with the highest APR on Stella, and check their wallet balance on telegram.

• Coinbase Invests in Socket
  Coinbase and Framework have co-invested $5m in interoperability protocol Socket. Socket will also work with Coinbase to provide bridging for devs and users of Coinbase Wallet and Base.

• Notional Beta Yield Contest
  Notional will launch a yield contest for the upcoming v3 beta. Beta users can compete to earn the highest APY and win 30,000 $NOTE + NFT prizes. The beta contest is now open for signup.

• Aevo Trading Credit
  Options and perps DEX Aevo launched a Referral Program. As an incentive, a $25 Trading Credit will be given to any account that signs up with a referral link and deposits at least $100.

  Today in DeFi is a referral partner of Aevo. Use our link to receive $25 on your first deposit of $100 or above.

Governance Highlights

• Proposal: sFRAX
  Frax Core team proposes sFRAX. Similar to sDAI, this would allow frax holders to stake their frax and earn a fixed rate.

  This rate would come from “AMOs and RWA strategies” and would be set by frax governance to target the Federal Reserve Interest on Reserve Deposit Rate(IORB) allowing it to be competitive with other RWA assets.

• Proposal: Dydx V4 Launch Incentives
  Chaos Labs proposes a 6-month Launch Incentives Program to be deployed on dydx V4, asking for the community’s approval to allocate $20M worth of DYDX for the program.

• Proposal: Starknet Simple Decentralized Protocol
  The Starknet community proposes a decentralized Starknet protocol. The proposal consists of four key components to provide specifications.

• Approved: Synthetix New Markets
  Synthetix governance has approved and implemented 19 new perps markets, including SEI, ENJ, CELO, ALGO, EOS, XLM, etc.

Regulations 🏛️

• CFTC Issues Orders Against DeFi Protocols
  CFTC issued orders against three DeFi protocols for offering digital asset derivatives trading.

  The orders request "that Opyn, ZeroEx, and Deridex pay civil monetary penalties of $250,000, $200,000, and $100,000, respectively, and cease and desist from violating the Commodity Exchange Act (CEA) and CFTC regulations."

• Ark Files for Spot ETH ETF
  Ark Invest and 21shares have applied with the SEC for a spot ether ETF, according to a filing dated Sept. 6.

Hacks/Issues 👾

• NEXT Claim Resumed
  Connext published the post-Morten of the NEXT claim issue and resumed token claims for eligible users.

• FloorDAO Rebase Exploit
  NFTFi FloorDAO was hit by an exploit of their rebase mechanism. The hacker made off with 40ETH from the DAO’s Protocol Owned Liquidty. The DAO seems to think the situation is now under control as it has started to redeploy FLOOR/WETH liquidity.

• Base Stalled
  Coinbase’s Base chain stopped producing blocks for about two hours. The chain is now operational again.

• GHO Minting Resumed
  Aave has resolved the GHO integration issue and resumed the minting of GHO.

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