Last Week in DeFi - Cosmos to Reduce ATOM Inflation , TreasureDAO to Launch Treasure Chain, Osmosis Halted for 2 Hours, Today in DeFi Cyber Monday Sale, and More...

Recap: Week of Nov 20th

Launches 🚀

• ryETH on Osmosis
  Levana launches ryETH on Osmosis. ryETH represents shares of Real Yield ETH (YieldETH) from Sommelier Finance. Levana users can use YieldETH to go long or short on ETH-denominated assets with up to 30x leverage.

• RainFi on Solana
  RainFi, a P2P NFT lending protocol on Solana, is live. RainFi lets users lend SOL/USDC/mSOL, and borrow SOL using their NFT as collateral.

• IOTX Liquid Staking
  Bedrock launches liquid staking for IOTX. IOTX holders can now stake IOTX to receive reward-accruing uniIOTX.

• Dyson Full Version Release
  Dyson DEX has deployed its full version on Polygon zkEVM and launched the DYSN token. Besides Swaps and Dual Investment, the full version enables the Membership Program, Boosting, and Staking.

• Asymetrix V2 Live
  LSTfi protocol Asymtrix launches V2. The upgrade introduces veASX, the BOOSTS system, and Mini Pools.

• Deri V4 on Arbitrum

  Derivatives protocol Deri launches V4 using Arbitrum Orbit with enhanced trading, faster execution, reduced gas costs, expanded offerings, and more option strikes.

• Movement M2
  Movement introduces M2, a Move-based Ethereum L2 scaling using Celestia's modular data availability layer.

• unshETH Liquid Blast ETH
  unshETH launched Liquid Blast ETH (blETH), a liquid wrapper for ETH deposits into Blast. Upon Blast withdrawals going live, the blETH withdrawal contract will allow users to withdraw ETH + farmed points.
  Risk reminder: Make sure to interact with the right contract, and be aware that if unshETH smart contracts have a bug you may lose your ETH.

• Beta Finance V2 Live
  Beta Finance launches V2 (Omni), a lending market with risk tranches. V2 enables users to choose their level of exposure based on their individual risk appetites.

• ZKP2P Alpha Live
  ZKP2P launches an alpha version on Base L2. ZKP2P is a trustless fiat-to-crypto onramp protocol powered by ZKPs.

Updates 🚩

• Approved: Reduce ATOM Inflation
  Cosmos governance approves Proposal #848. The proposal aims to reduce the max inflation parameter from 20% to 10%, bringing ATOM’s current inflation rate to 10%.

• Kujira Wormhole Integration
  Kujira integrates with Wormhole and now supports SOL bridging between Solana and Kujira.

• Wombat Live on OP
  Wombat exchange is now live on OP mainnet with OP grants.

• Aerodrome Relay Live
  Aerodrome launches Relay, enabling automated voting, reward claims, compounding, and locking.

• CoWSwap Milkman
  CowSwap introduces Milkman, a contract for delayed execution trading. Milkman lets DAOs and other smart contract wallet users set dynamic price backstops for orders that will execute in the future.

• Deri V4 on L2s
  Besides Arbitrum mainnet, derivatives protocol Deri V4 is now live on zkSync Era and Linea L2.

• PancakeSwap Gauges Voting and veCAKE
  PancakeSwap introduces Gauges Voting and veCAKE, enabling more governance power, controls over CAKE emissions, deeper liquidity, and vote incentives.

• SudoAMM Gradual Dutch Auctions
  Sudoswap introduces Gradual Dutch Auctions (GDAs), a pricing model that allows efficient selling or buying of NFTs over time.

• Dopex rDPX v2 Live
  Dopex launches rDPX v2 and rtETH. rDPX v2 is an upgrade to the rDPX token that will allow it to be bonded with ETH to mint “Receipt Token $ETH” ($rtETH)

• Avocado on Scroll Testnet
  GMX fork Avocado is on Scroll L2 with an incentivized testnet.

• Synapse Supports Solana
  Synapse supports cross-chain swaps for ETH, USDC, and SOL between Ethereum and Solana.

• Aragon Sues Its Founding Team
  AragonDAO holders have passed two votes supporting a lawsuit against its founding team. The vote comes in response to a move by the Aragon Association to dissolve itself and discontinue ANT through redemptions for ether.

Hacks 👾

• Osmosis Halted for 2 Hours
  A bug in the Cosmos SDK caused a 2-hour pause to the Osmosis chain. The bug has been fixed and the chain is back live. Osmosis validators and node operators are urged to upgrade to Osmosis v20.5.0.

• KyberSwap Elastic 47M Exploit
  KyberSwap Elastic has experienced a security incident and lost ~$47 million. The team is investigating and suggesting users withdraw their funds.

• HecoChain & HTX 110M Exploit
  HecoChain Bridge saw a suspicious 86.6M outflow from a compromised operator. An additional exploit of the HTX exchange cited suspicious transfers of $23.4M.

Upcoming ⏳

• TreasureDAO to Launch Treasure Chain
  TreasureDAO founder confirms that the team will launch Treasure Chain, a gaming chain that uses MAGIC as the gas token.

• Inverse New Products
  Inverse Protocol has two new products launching: the Dola savings account which allows users to earn DBR yield on their DOLAs, and the DBR continuous auction, a perpetual sale of DBRs in exchange for DOLAs.

• Chainlink Staking v0.2
  Chainlink Staking v0.2 will launch on 11/28 at 12 PM ET, starting with Priority Migration.

• Sushiswap to Revive xSUSHI
  Sushiswap will end Kanpai 2.0 and revive the xSUSHI model. Sushi Bar will reopen and allow holders to stake SUSHI for xSUSHI and receive 0.05% from the 0.3% standard trading fees.

• Proposal: ApeChain on OP
  The ApeCoin community proposes to appoint a team to deploy, manage, and operate ApeChain. The proposal states that the team has chosen to support Layer-2 rollups, is committed to deploying ApeChain on Optimism as part of the Optimism Superchain ecosystem, and plans to become core contributors to the Optimism Foundation.

• Voting: Activate dYdX Trading Rewards
  dYdX governance is voting to end the Beta Stage by activating Trading Rewards and the 6-Month Launch Incentive Program.

• Voting: Increase GHO Borrow Rate
  The Aave governance is voting to increase the GHO borrow rate on Aave V3 Ethereum from 4.72% to 5.22% in an effort to restore the peg and align borrowing costs with market rates. The new discounted borrow rate will be ~3.75%.

• IPOR Stake Rate Swaps
  IPOR plans to launch the Stake Rate Swaps (SRS) next month. SRS will support markets for interest-rate derivatives, starting with Lido’s stETH, where users can pay or receive a fixed ETH staking rate.

• Superform Protocol
  Superform is a universal yield marketplace that will allow developers to deploy their vaults on the marketplace and allow users to discover and deposit into any vault cross-chain.

• Tokemak V2

  Tokemak announces an upcoming V2 upgrade. V2 will introduce a new LP system (Autopilot) and updates to the TOKE tokenomics.

• Approved: NXM Tokenomics Upgrade
  Nexus Mutual governance has passed NMPIP 209, a proposal to launch a tokenomics upgrade.

• Revest Resonate
  Revest Finance releases a whitepaper for Resonate, an asset management protocol to bring institutional capital on-chain through RWA.

• Timeswap Bunni V2
  Timeswap introduces Bunni v2. The upgrade will enable Any-shaped liquidity, Shifting liquidity, Rehypothecation, Dynamic fees, and ERC-20 LP token.

Airdrops 🪂

• Smilee Trading Competition
  Options protocol Smilee launched a trading competition on Arbitrum testnet. The trading rewards include a $26k prize pool and Genesis Pool Access.

• Panoptic 3rd Trading Contest
  Panoptic trading contest epoch 3's deposit window will open on Nov 28. The first 100 depositors will be allowed into the trading competition with a $800 prize pool.

• Arbitrum Frontier
  Dopex partners with Arbitrum, Galxe, and OKX to launch Arbitrum Frontier, a month-long (Nov 22 to Dec 22) campaign for users to explore DeFi projects on Arbitrum and earn rewards.

• Stride Launching stDYDX
  Cosmos liquid staking protocol Stride plans to launch liquid-staked DYDX (stDYDX) and will reward STRD to stDYDX holders.

• Blur Season 2 Ends
  Blur NFT traders and Creators are now eligible for the Season 2 airdrop. With season 2 concluding, Blur started Season 3 for NFT traders and BLUR holders.

Farms

• Stable Yield on Hawksight
  UXD/USDC farm offers a 20% APY on Solana yield farming protocol Hawksight.

• USDY Vaults on Range
  Range protocol launches USDY vaults, allowing LPs to use the vaults and earn yields on Mantle.

• Silo CRV Incentives
  Silo now offers 1.2M CRV incentives for CRV-crvUSD. $crvUSD depositors are currently earning 10.9% total APR and are able to borrow CRV.

• Balancer LGP
  Balancer launches LGP, an ARB-incentivized Liquidity Growth Program, allowing DAOs or participants in the Arbitrum ecosystem to create a pool and apply for liquidity growth incentives.

Today in DeFi Premium includes early looks at promising projects, yield farming tips, and proper research to help you get the most out of DeFi.

For example, last week we published the following features for our Premium Subscribers:

• Liquid Staking on Cosmos

• Invest in Delta-Neutral Pools

• Last Week's Best Project Picks

• and more…

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