Last Week in DeFi - Clearpool Prime on OP, LayerZero V2 on Testnet, Sturdy V2 Upcoming, IntentX Multiplier Points, and more...

Recap: Week of Dec 11th

Launches 🚀

• Lyra launches V2, enabling trading for options, perpetual, and spots. Lyra also started the BTC PVP competition, allowing traders to earn PVPoints and win LYRA.

• Options protocol Lyra launches Lyra Chain, an OP stack-powered L2 providing high throughput, low-cost settlement of transactions.

• Redacted Cartel launches the Pirex ETH (pxETH) on the Ethereum mainnet, marking the first phase of the Dinero rollout. Pirex ETH consists of pxETH and apxETH, giving users two choices: pxETH for liquidity or apxETH for boosted staking yield.

• DVT network SSV launched its permissionless mainnet, removing the limitation that restricts the onboarding of validators and operators only to launch partners.

• Clearpool launches Clearpool Prime on OP Mainnet. Prime allows whitelisted, institutional borrowers to launch pools with tailored terms and invite similarly whitelisted lenders to participate.

• Boost launches on Blast L2. Boost allows users to sell or leverage farm the Blast airdrop. Users can now deposit ETH and earn BOOST by selling or farming on Boost.

• Poolshark launched on Arbitrum mainnet along with its token sale. Poolshark Protocol is an AMM that enables directional LPing.

• Powered by Wormhole, Circle, and Base, Pike Finance launches testnet on Ethereum, Optimism, Arbitrum, and Base L2. Pike is a cross-chain lending protocol that offers lending, leverage, and Earn services.

Updates 🚩

• LayerZero launches V2 on testnets, with mainnet releasing in 2024. V2 is an upgrade that increases network throughput and liveness while making it easier for developers to build and integrate dApps with LayerZero.

• Cronos Labs launched Cronos zkEVM testent. Cornos zkEVM is a ZK rollup blockchain using zkSync’s ZK stack.

• Hashflow launches on Solana with native-to-native cross-chain swaps enabled.

• Worldcoin introduces World ID 2.0, supporting integrations for its World ID with Minecraft, Reddit, Telegram, Shopify, and Mercado Libre.

• Term Finance launched the STBT (Short Term T-bill Token) auction, marking the first on-chain fixed-rate loan backed by permissioned RWA using oracles powered by Chainlink Proof of Reserves.

• Subsea, a risk management marketplace built by Andalusia Labs (fka. Risk Harbor), is live on testnet.

• Eclipse, an Ethereum L2 powered by Solana Virtual Machine (SVM), launches its testnet.

• Akash launches Akash Chat, enabling free-to-use, open-sourced LLMs using NVIDIA GPUs and hosted on Akash Supercloud.

• Powered by Squid and Axelar, AMM protocol Vertex now supports cross-chain deposit. Users can bridge & deposit collateral from 8 chains without leaving Vertex.

• MES Protocol integrates Liquity, enabling users to withdraw LUSD instantly to Ethereum and any rollup that MES is deployed on (Arbitrum/Optimism/zkSync).

• Avalanche-based leverage farming protocol Delta Prime now supports ggAVAX from Gogopool as collateral.

• Uniswap V3 has been deployed on a Bitcoin sidechain Rootstock. Rootstock is built by GFX Labs, the team behind the trading terminal Oku.

• Uniswap launches updates for Uniswap Wallet, including L2 swapping, automatic fee detection, swap protection, faster swaps, and new languages/currencies support.

• Polygon introduces Polygon Portal, an improved gateway to Polygon chains that supports unified UX for bridging, third-party bridges, refuel gas, developer tools, etc.

Hacks 👾

• Ledger ex-dev was phishing scammed and the attacker pushed malicious code to exploit Ledger’s library on GitHub, causing over 600K user loss. The exploit is now fixed, users can follow the steps to check if they are on the updated version.

Regulations 🏛️

• US Senator Elizabeth Warren introduced an anti-crypto bill and has gained support. The bill wants to extend KYC requirements to network participants including non-custodial wallet providers, miners, and validators.

Upcoming ⏳

• Pendle V3 is launching next year, focusing on interest rate swap markets.

• Iota 2.0 will launch in 2024 with enhancements such as uninterrupted transaction processing during disruptions, swift and democratic consensus, increased decentralization, and robust security features.

• Maverick V2 is coming in 2024. V2 will upgrade the AMM and introduce an omnichain ve-model, providing projects and LPs with native cross-chain liquidity management and incentivization tools.

• Sturdy plans to launch V2 with Sommelier integration, and likely to launch a token. With the integration, Sturdy users will be able to leverage LSD and earn yields in Sommelier vaults with incentives.

• Bracket Labs will launch Passage on mainnet on Jan 4th with a 20,000 ARB trading competition.

• Fantom will launch Sonic open testnet with tools to enable developers to launch dApps on the network.

• Immutable zkEVM and Immutable Passport will eliminate gas fees for users with a 2-phase approach for next year.

• Curve LP optimizer Conic Finance plans to deploy V2. The protocol will launch votes for the V2 upgrade, including new features, reimbursement schemes, and incentives.

• Parapswap DAO proposes to burn the DAO's 400 million PSP tokens scheduled to vest in years 3 and 4, reducing the maximum supply from 2 billion to 1.6 billion.

• Celestia will integrate its data availability layer with Polygon CDK, an open-source codebase for developing L2s. The integration aims to reduce gas fees for projects using Polygon CDK.

• Synthetix has stopped SNX inflation and plans to test the new fee share and buyback and burn model on Base L2.

• Init Capital will launch a Liquidity Hook money market in January. Liquidity Hooks are plugins for liquidity that allow dApps to build advanced strategies using liquidity on Init.

• Synthetix Spartan Council is voting to end SNX inflation. If approved, SNX inflation will be reduced to zero in the claim week following the vote.

• Lyra DAO is running the vote to launch V2. If approved Lyra Foundation will deploy Lyra Chain & protocol, fund the security module, launch V2 mainnet, and start incentives.

• Aave DAO proposes to disable all flashloans on Aave V2 as a part of the ongoing deprecation of V2 and restrict the use of V3 flashloans for governance-enabled entities.

• Aavegotchi DAO is voting to diversify the DAO’s treasury by purchasing 3 million DAI worth of ETH.

• Clearpool will launch Clearpool Prime, an institutional-grade credit marketplace that will bridge the traditional private credit market and on-chain lending, and boost demands for CPOOL.

• UX Chain hints at a stablecoin launch on Dec 12.

• Inverse Finance will soon launch sDOLA.

Airdrops 🪂

• IntentX launches Multiplier Points, allowing users to earn up to 35% extra points trading on IntentX.

• Rainbow Wallet launches Rainbow Points. Ethereum users can now claim their points and keep earning points by using Rainbow.

• BnB Chain-based Thena AMM launches on opBNB, with $20,000 worth of THE to be earned from the BnB Chain Airdrop Marathon.

• Merchant Moe is a Trader Joe franchise that will launch on Mantle L2. JOE holders will be able to earn an airdrop of 2.5% of the total $MOE supply on TGE and a further 5% to be distributed over the coming 12 months.

• LayerZero has confirmed its token, and the token will launch in H1 2024.

• Radiant yield optimizer Radpie will launch the RDP token IDO on Magpie’s launchpad on Arbitrum. Whitelisted users will be able to buy RDP with native USDC.

• Poolshark Public Bonding Sale launched at 5 pm UTC on Dec 11. Users used WETH to buy bonds, and there were 150k FIN available in the first tranche at a fixed FDV of 40mil.

Farms 🧑🏻‍🌾

• Y2K USDC.e farm on Silo now offers a 22% APR for deposits.

• Pendle aUSDC pool on Arbitrum offers a boosted high yield with ARB STIP.

• Redacted Cartel launches pxETH-ETH farm on Maverick AMM, allowing LPs to earn LP fees and $BTRFLY rewards.

• Kava-based Perp DEX Kinetix offers a ~23% APR on the alxUSDT-USDT farm, and 80%-200% on other farms.

• Lido launches a new round of wstETH incentives on Uniswap on Ethereum, Optimism, and Arbitrum.

• Notional offers good yields for FRAX lending and leveraged farming with 11%~62% APYs.

• dHedge-powered yield farming protocol Toros offers ~40% APY on its Perpetual Delta Neutral Yield token (USDpy).

• Solana-based lending protocol Kamino’s Multiply product now offers 12%~21% APYs on leveraged SOL staking.

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• Trade LST Interest Rates with a Potential Catalyst

• Intent-based Shortcuts with Rewards

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