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Recap: Week of Jan 8th

Product Launches 🚀

• Ajna, a permissionless p2p lending protocol, is now fully live and can be accessed on Summerfi and Ajna's frontend. Users can use any ERC-20 or NFT as collateral without going through any gating mechanism.

• Morpho Labs launches Morpho Blue with the first isolated markets listed: wstETH/WETH and wstETH/USDC. Morpho Blue adopts a strategy of isolating markets through individual asset vaults, which operate autonomously without the DAO's manual intervention to adjust risk parameters.

• C3 protocol launches on mainnet. C3 is a self-custodial hybrid exchange for spot trading. Users can earn points by trading, lending, and staking.

• Gaming-focused L3 blockchain XAI launches on Arbitrum, along with a live bridge for users to transfer assets from Arbitrum One to XAI.

• Perennial introduces Power perpetuals, a product in between options and perpetuals first introduced in a Paradigm research paper.

Project Updates 🚩

• Pendle now supports Limit Orders on Arbitrum for certain pools: aUSDC, wstETH (Mar 2024), GLP, rETH, gDAI, with planned expansions to other markets and chains in the future.

• Synthetix SNX token is supported on Base Bridge, and rewards are already being emitted on Aerodrome for SNX/USDC LPs.

• Morpho integrates with IdleDAO and launches MetaMorpho Yield Tranches for USDC and WETH with incentives. Yield tranches allow LPs to lend their assets according to their risk preferences.

• ZKFair L2 launches ZKF staking with a buffer period, and earnings will be officially calculated starting next Monday. Stakers will participate in sharing 75% of ZKFair's profits.

• Curve launches the PYUSD-USDC market with PayPal’s 132K incentives to boost liquidity.

• Starknet v0.13.0 upgrade is live. This upgrade allows users to pay fees in STRK and significantly reduces transaction fees.

• EigenLayer bridges Cosmos and Ethereum. Teams such as Ethos and Lay3r are developing solutions that bring Ethereum's economic security to Cosmos.

• Woo X launches Hedge Mode. Traders can hedge their trades by opening both long and short positions on the same perp symbol without having to close either of their positions.

• Myso Finance has integrated tBTC with loan offers, allowing users to use USDC as collateral and borrow tBTC. Borrowing tBTC gives users downside protection on their Bitcoin exposure, as they can repay the tBTC at any time before expiry and reclaim their locked stablecoin collateral.

• Lyra Chain (aka Lyra v2) is going to use Celestia for Data availability

• Unibot telegram sniping bot is now on Arbitrum

Upcoming ⏳

• Wombat introduces WomPets, a gamified bribe market that incentivizes trading and staking for gaming ecosystems. WomPets will introduce a cross-chain and cross-platform point system that allows users to earn WomPets Points (WPP). WomPets will start the collaboration with Animoca, a gaming ecosystem with over 150 games.

• Polygon introduces Libre, a financial institution-focused L2 built with Polygon CDK. Libre will go live in Q1 2024 and has partnered with several top-tier global distributors.

• Cosmos introduces Partial Set Security, an enhancement to Interchain Security that will allow only a subset of Hub validators to run a physical node for each consumer chain, while still allowing each consumer chain to be secured by the full stake of the Hub.

• Abracadabra proposes to integrate MIM into Cosmos and Polkadot to expand MIM’s utility and accessibility.

• Radiant Protocol is voting on Radiant V3. The upgrade will introduce Isolated Risk Markets, Simple 1-click Long/Short Strategies, Solutions to RDNT Inflation & Gas-Intensive Protocol Fee Claiming, Dual Emissions, and Dynamic Protocol Fee Distributions.

• Y2K Finance will launch Turbo Option Vaults this month. TOVs are Call/Put-like options that use the same deposit asset as the speculation asset for a potential of outsized returns, or hedging.

• Cosmos community is voting on a proposal that aims to reduce the minimum inflation parameter from 7% to 0%. If passed, once the 67% goal of bonded ATOM is reached, the inflation rate will trend toward 0%.

• Base releases an article on its 2024 Mission, Strategy, and Roadmap. Some of Base’s high-level focuses will be accelerating decentralization, increasing network availability, driving down fees, making smart wallets the default, and many more.

• Syntehtix Andromeda Release is coming to Base L2. A key mechanism coming with the release is that 40% of Perps V3 fees will be allocated to buying back and burning SNX tokens using Yearn-inspired contracts.

• Clearpool introduces Credit Vaults. Credit Vaults will enable greater control and customization options for borrowers, and incentivize lenders with higher interest rates.

• Aave is running a temperature check vote on potential PYUSD deployment on Aave’s Ethereum pool. The vote ends Jan. 11th and follows a PYUSD activation on Curve in late December.

Airdrops🪂

• Orbiter Finance confirms the launch of its native token this year, with the tokenomics and distribution rules to be released. Orbiter’s O-Points Program will play a crucial role in shaping the airdrop rules.

• Wombat announces an upcoming airdrop for LPs and stakers on the Wombat exchange. The snapshot will be taken on Feb 10.

• Rainfi announces in their Discord that there will be an updated Points Program. The new program will have new point-earning rules on lending, borrowing, and penalties for liquidations.

• Ondo announces the Ondo Points program. The points can be earned by participating in three campaigns: Wasted Stablecoin Interest Competition, Ondo Community, and Ondo Ecosystem.

• Merchant Moe launches the MOE airdrop. All users staking JOE in mJOE on our platform are now eligible to claim their share of the MOE airdrop.

• IntentX enables Bitcoin Double Points. For a limited time, users who trade Bitcoin will receive double points.

• Parcl is a Solana-based perps DEX for real estate synthetics. Parcl Points program has been running for a while, users can earn Points by trading & LPing on Pcarcl, & boost their scores by holding HOA NFTs.

• Gaming-focused L1 Saga released its airdrop criteria. Wallets that meet its criteria will earn their token and they also released details of their currently active Season 2 rewards.

• Manta Network Unveiled its “into the blue” airdrop page and eligibility details. Besides the already completed snapshot, they unveiled details of their current and ongoing season.

• Omni chain NFT-focused L2 Parallel Network unveiled its Galxe quest

Farms 🧑🏻‍🌾

• Stella launches new leverage strategies, and the Camelot USDT/USDC.e strategy offers a good yield.

• Delta Prime on Avalanche offers good yields on stable farms.

• Alchemix Vesper USDC and FRAX vaults are offering good yields.

• Sommelier Fraximal Vault is earning a good yield by lending FRAX on Fraxlend.

• Maple Direct launches a new Opportunistic High Yield USDC pool with good yield for lenders.

• Notional offers good fixed APY on USDC and FRAX pool on Arbitrum.

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