Last Week in DeFi - Drift has launched Swift Protocol, Sonic is now live on Infinex, and more…
Recap of week 17th March
Launches 🚀
Pump.fun launched PumpSwap, a native DEX on Solana enabling instant, fee-free migrations for coins completing their bonding curve. The platform uses a constant product AMM, with a 0.25% trading fee split between LPs and the protocol.
PumpSwap supports verified tokens like $APT, $TRON, and $PENGU, and plans to introduce creator revenue sharing. It has undergone nine audits and will host a $2M audit competition with Cantina.
Resupply is now live, introducing $reUSD, a decentralized stablecoin backed by yield-bearing lending vault tokens. Users can borrow against collateral while earning fees, stake $RSUP for revenue sharing, and participate in Curve LPs.
The platform supports Curve Lend and FraxLend with up to 95% LTV and offers rewards in $RSUP, $CRV, and C 0.00%↑ VX.
Denaria has launched its public testnet on Linea Sepolia, allowing users to trade long and short while earning DXP points on its perpetual DEX. Participants can access the testnet now and should verify they are using App version 3.2.1 or later.
Coinbase has launched Verified Pools, a curated selection of liquidity pools requiring Coinbase Verifications credentials. Built on Base and Uniswap v4, the initiative aims to enhance capital efficiency and reduce costs. Users can connect with Prime Onchain Wallet, Coinbase Wallet, and select third-party wallets.
f(x) Protocol is launching wBTC markets tomorrow, offering up to 7x leverage with zero funding fees and minimized liquidation risk. Stability Pool depositors and veFXN holders will now earn BTC trading commissions, converted to wstETH.
The update builds on f(x)’s success with ETH markets and is part of broader upgrades, including batch processing for keepers and flexible yield options.
Ethena is expanding USDe, USDtb, and iUSDe issuance natively while integrating with TradFi through purpose-built formats. The assets will be supported on Converge, an EVM-compatible network designed for both permissioned and permissionless DeFi applications.
Five protocols have committed to building institutional-grade products on Converge, with Ethena and Securitize set to release more technical details soon.
Napier v2 is now live across 10+ EVMs with support from 50+ partners, introducing enhanced security, new markets, and DeFi integrations. The Napier Points program will distribute 100 million points weekly starting March 17, rewarding PT/YT curation, liquidity provision, and yield trading. Curators can now start creating markets ahead of the distribution.
Chaos Labs has introduced Chaos AI, an AI-powered crypto researcher designed to provide institutional-grade financial intelligence. Built on proprietary data securing trillions in trading volume, it enables users to generate research reports, analyze markets, and verify information with citations.
The platform is launching in closed beta, with early access available for developers, researchers, and investors.
Drift has launched Swift Protocol, a major liquidity upgrade that aggregates liquidity for better execution. The update enables faster fills, lower slippage, and gasless trading. Currently in beta, it is rolling out first on perpetual markets, allowing traders to opt in for improved trade efficiency.
Updates 📰
Nillion unveils tokenomics of their native token $NIL, which will support network security, governance, and usage coordination. The initial circulating supply is 19.52% of a 1B total, with allocations to ecosystem, community, protocol development, and early backers. $NIL distribution begins via airdrops and community rounds.
The upcoming Mainnet launch also includes Blind Modules Alpha and plans to expand compute capabilities across crypto through upcoming integrations and ecosystem initiatives.
Cetus is now integrated with Phantom wallet to power native in-wallet swaps on Sui. The update enables Phantom’s user base to access Cetus liquidity directly within the app, supporting seamless trading across the Sui ecosystem.
Bedrock unveiled full $BR tokenomics, allocating 20% to the community with 5.5% already airdropped and 14.5% reserved. No team or investor tokens unlock in the first year. Holders can stake $BR for veBR to boost governance and yields, join a loyalty program, and participate in Diamond Season 2. Claims opened March 20 and will remain open for 90 days.
Sonic is now live on Infinex, reuniting DeFi veterans Andre Cronje and Kain Warwick. The integration offers seamless UX and deep liquidity, allowing users to buy, store, and bridge Sonic assets like $SHADOW, $WAGMI, and $METRO, and deploy vaults directly on Sonic.
Uniswap announced that Coinbase is building on Uniswap v4, leveraging its Hooks feature for onchain customization. The collaboration highlights growing ecosystem development around v4 infrastructure.
Stargate now supports native USDC transfers to Aptos via Circle's CCTP, enabling 1:1 capital-efficient bridging from seven connected chains. With over $100M in Aptos OFT volume and Aptos DeFi TVL surpassing $1B, users can deploy USDC across lending protocols and DEXs including Aries, Thala, and Merkle Trade.
Hyperliquid is introducing Staking Tiers, where users staking HYPE will receive reduced trading fees. The new fee system, launching on or after April 30, will feature separate schedules for perps and spot, with spot volume counting double toward fee tiers.
Even without staking, fees will remain lower than most CEXs. The update is expected to increase protocol revenue while adding more utility for HYPE.
ChainGPT has integrated with Sonic, the fastest EVM Layer 1, bringing its AI NFT Generator, ChainGPT Pad, and DegenPad to the network. This expansion enhances AI-powered NFT creation and project launches within the Sonic ecosystem.
The Uniswap community has approved a $120.5M budget to support Uniswap v4, Unichain, and governance initiatives over the next two years, allocating 20.32M UNI for grants and operations.
Funds will be managed by Gauntlet within pre-set parameters while governance retains control.
The Uniswap community has approved funding for Unichain and Uniswap v4 liquidity incentives, allocating 7.59M UNI to an Aera vault under governance oversight.
The vault, deployed and configured by Gauntlet, will now be resumed and funded to support liquidity incentives, with ownership transferred to the Uniswap Timelock contract.
Cryptex Finance has launched the Arbitrum DeFi Index (ARFI), tracking top DeFi protocols on Arbitrum, including Aave, GMX, Uniswap, Pendle, Stargate, and Curve. More assets are expected to be added, expanding exposure to the ecosystem.
Fluid has launched its Swap UI, enabling users to swap tokens at the best on-chain prices through its aggregator, which integrates Kyber Network, 1inch, Paraswap, and others. No frontend fees are applied.
EigenLayer has integrated decentralized proving and EigenDA into ZKsync’s Elastic Network, enhancing speed, cost efficiency, and security for ZK rollups. EigenDA now serves as ZKsync’s preferred data availability layer, offering 15 MB/s throughput and a fixed pricing model.
Drift has launched Momentum, a five-week program starting in mid-April to support 5-7 growth-stage DeFi projects on Solana. Targeting teams post-product and pre-Series A, the initiative provides focused resources to address key challenges, aiming to strengthen the Solana DeFi ecosystem. The program concludes at Solana Conf in NYC. Applications are now open.
Spark has concluded the Tokenization Grand Prix, selecting BlackRock’s BUIDL, Superstate’s USTB, and Centrifuge-Anemoy’s JTRSY as winners. The initiative aims to onboard $1B in tokenized RWAs and allocate stablecoin liquidity through the Spark Liquidity Layer.
Pending Sky governance approval on April 3, allocations will include $500M for BUIDL, $300M for USTB, and additional funding for JTRSY.
Moonwell has launched its Flagship USDC Vault on Optimism Mainnet, powered by Morpho Labs and curated by Block Analitica and B.Protocol. The vault provides liquidity for ETH/USDC and wstETH/USDC Morpho Isolated Markets, generating fees for depositors.
In partnership with Stablecoin and Optimism Foundation, Moonwell Virtual Accounts now enable U.S. payments with zero fees, allowing seamless USDC deposits.
Story Protocol now supports Bridged USDC via Circle’s Bridged USDC Standard, improving security and reducing liquidity fragmentation. The deployment was facilitated through Stargate Finance, ensuring seamless USDC transfers on Story.
Argent Metal has launched on Starknet, enabling fully onchain payments with 100% self-custody, zero hidden fees, and cashback rewards. The card allows users to transact anywhere Mastercard is accepted while maintaining complete control over their assets without intermediaries.
Avantis has launched onchain crude oil (WTI) trading for qualified non-US users, leveraging Base, Pyth Network, and its AMM. This allows 24/7 trading with deep liquidity and no intermediaries. The initiative aims to expand economic freedom by bringing global commodities onchain.
Aave v3 is now live on Celo following a unanimous governance vote. Users can supply, borrow, and stake assets, with CELO, USDT, and USDC available as collateral. The integration enhances Celo’s DeFi ecosystem with fast, low-cost transactions and potential support for additional stablecoins and RWAs.
Satoshi Protocol has introduced Satoshi FUN, an AI-driven governance system that rewards liquidity providers and active participants based on real-time community sentiment.
SyrupFi vaults are now live on Superform, offering up to 14% APY on USDC and USDT. Yield is generated through Maple Finance’s fixed-rate, overcollateralized lending. Users can also earn 10x CRED and Syrup Drips, convertible to SYRUP tokens.
HeyAnon has integrated with GMX, enabling users to execute trades using simple prompts. Traders can open positions like a $100 ETH long with 500 USDT as collateral on GMX Arbitrum without manual setup, streamlining the trading process for a more efficient experience.
DIA has partnered with Vingt, an AI-powered asset management platform, to provide real-time on-chain price feeds for ETH and BTC. This integration enhances the accuracy of Vingt’s index and leverage tokens, optimizing trade execution within its one-click investing dApp.
USDS is now available on Arbitrum and can be swapped on Sushi. Through SushixSwap, users can also bridge and trade USDS across multiple chains, expanding access to the stablecoin.
Issues ⚠️
Vicuna Finance has paused the De-Leverager contract and removed it from the UI after detecting an exploit that siphoned $7,300 across four transactions. The issue was quickly contained using a killswitch, and all other funds remain secure. Affected users will be fully reimbursed within 24 hours, with a full post-mortem to follow.
SlowMist has detected fake Microsoft Teams sites spreading malware, posing a risk to users. Microsoft users are advised to verify sources before installing apps to ensure they come from official channels.
ZKsync Ignite will not continue for Season 2, with rewards ending on March 17, 2025. The decision was driven by a shift toward the Elastic Network, delays in native interoperability, and market conditions. Remaining rewards will be distributed as planned.
Upcoming ⏳
MyShell announced a $SHELL token buyback program totaling $8M USDT, funded from trading revenue and to be executed over 90 days via a Market Maker's Binance accounts. All repurchased tokens will be sent to a public wallet for transparency.
Berachain will enter Phase 1 of governance on March 24 with the launch of Proof of Liquidity (PoL). Incentives will begin flowing to newly whitelisted vaults, and BGT holders gain expanded control over emissions. Applications can now compete for rewards, with the first batch of approved vaults to be announced soon.
Aave introduced Umbrella, a new safety mechanism replacing the current Safety Module. Users will stake aTokens to earn rewards while covering protocol risk; in the event of bad debt, staked aTokens are automatically burned.
Umbrella will operate via a dedicated tab in the Aave UI, with no action required for existing stkAAVE or stkABPT holders.
stkGHO holders will need to migrate to the new system.
Sonic Labs announced that native USDC and Circle’s CCTP V2 will soon be integrated into the Sonic ecosystem.
WalletConnect has opened voting on the WCT Transferability Proposal, allowing the community to decide on transferability criteria. Voting is live on Snapshot and will close on March 26 at 10:00 CET.
Ethereal has reached $475M in USDe pre-deposits, with more protocols set to join Ethena Labs and Pendle in Season Zero. Participants can earn Ethereal points and Ethena rewards by depositing USDe through Ethereal’s app or Pendle, with the latter offering a 60% boost in Ethereal points and 50x Ethena rewards.
Morpho is expanding to Plume Network via Solera, enabling users to access flexible and high-performance lending vaults. Solera will leverage Morpho’s infrastructure to provide institutional-grade yields and RWA-powered lending strategies.
Elys Network is integrating with Axelar to enhance DeFi user experience through chain abstraction and unified liquidity. As a DeFi hub in the Cosmos ecosystem, Elys aims to provide seamless access to DeFi tools across multiple ecosystems.
Ondo Finance is promoting tokenization as a key financial innovation with billboards in Washington, DC, ahead of the SEC’s Crypto Task Force Roundtables and the DC Blockchain Summit. The campaign highlights Ondo’s mission to unlock global access to US financial markets through tokenized assets.
Gearbox Protocol is set to launch its first instance with Lido Finance, enabling users to lend, borrow, and leverage staking assets with high efficiency and additional rewards. The integration goes live tomorrow.
Lens Chain is hinting towards upcoming testnet launch. With more details to be expected soon.
Gyroscope is gearing up for the launch of GYFI, aligning governance with the protocol's growth. More details will be shared as the token generation event approaches.
Aave Labs has introduced Project Horizon, an initiative focused on institutional DeFi and RWA integration. The first product will enable institutions to use tokenized money market funds as collateral to borrow USDC and GHO. A licensed instance of the Aave Protocol has been proposed to the Aave DAO as a foundation for Horizon’s developments. More details on upcoming collaborations will be shared soon.
🎥Sonic & Sei: The Next Big Stablecoin Farms?
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Airdrops 🪂
Perena has reactivated its Petals rewards program ahead of its upcoming product upgrade and Season 1 launch. Users can now earn rewards by swapping stablecoins and providing liquidity, with boosts for holding over 15 days. Circular and wash trades are penalized. A 3% bonus is available for those connecting via Backpack wallet. Pre-season petals are now claimable on the Perena app.
Sei launched the "Sei More" campaign to reward content creators and active contributors with bonuses. The initiative features a leaderboard powered by KaitoAI to track creator impact.
Term Labs issued a final reminder that Season One ends on March 22 at 00:00 UTC. Users should finalize all participating wallets, link Galxe and Guild profiles, confirm their primary wallet, and avoid unlinking Twitter or Discord accounts.
Vest has distributed 1,000,000 weekly points, rewarding user engagement. Participants can check their balances now, with the next distribution set for March 26 at 10 AM EST.
Magic Eden announced that the top 1% of quest participants may be eligible for an OG $PAWS allocation from GOTPAWSED. The most active users can check their eligibility through the provided claim link.
Nillion has released an updated airdrop allocation checker, resolving bugs affecting linked account eligibility and staking rewards. In response to community feedback, the 90-day pre-staking lockup has been removed, with all pre-staking rewards now unlocking on day one.
KernelDAO has partnered with YieldNest to offer an exclusive YND token airdrop for Kernel restakers. Eligible users can claim rewards as part of YieldNest’s final airdrop distribution.
Shardeum has opened $SHM airdrop registration, allowing eligible users to verify their allocation at shm.gg/airdrop. Users who register within the first 7 days will receive their tokens at TGE. The registration deadline is April 13, 2025, at 23:59 UTC. Only the official portal should be used to avoid scams.
Bedrock's $BR airdrop checker is live at claim.bedrockdao.com, with 5.5% of the total supply allocated for Season 1. Pre-deposit claiming is open, and on-chain claiming starts in seven days. Over 200,000 addresses qualify, with 100,000 wallets receiving an extra boost. All airdropped tokens are fully unlocked. Users should verify details through official channels to avoid scams.
Skate has opened claims for Ollies rewards for users who voted on KaitoAI Connect between January 24 - February 8. A total of 50M Ollies is available for votes cast between January 24 - February 1, with an additional 50M plus a 50% bonus for the February 1 - February 8 period.
Farms 🧑🏻🌾
Dinero launched absETH, enabling native ETH staking on Abstract with simplified access to staking yields. Powered by LayerZero, users can stake directly from Ethereum or Abstract without leaving their preferred L2.
Pendle has introduced a migration feature allowing users to roll over positions into new Pendle markets. PT holders can swap directly into a new pool, while LPs can migrate early to secure fixed yields and benefit from increased swap fees post-maturity. The process is streamlined with automatic reward claims and filtering tools for selecting target pools.
Corn has launched the BTC Harvester Vault, allowing users to deposit BTCN, LBTC, cbBTC, WBTC, and eBTC on Ethereum or Corn. Yield includes a share of 0.5% of the CORN supply, along with 3x points from Veda Labs, Lombard Finance, and EtherFi.
Bunni has launched Round 5 of $BUNNI incentives, offering high-yield LP opportunities on Ethereum and Base for the next two weeks. The program includes 8 Rush Pools with APRs up to 108.33% on Ethereum and 42.46% on Base, featuring zero dilution, limited TVL caps, and double rehypothecation to maximize yield. Early LPs benefit from locked-in rates and passive rewards across key liquidity pairs.
mETH Protocol's cmETH Fixed Yield Vault offers a 6.7% APY on idle ETH holdings with a simple, low-effort approach. Over 88% of the deposit cap has already been filled.
Shadow Exchange has distributed over $2.3M in rewards this epoch, with liquidity pools offering high yields. Notable APRs include USDC/USDT at 48.5%, S/USDC at 2555%. Users can deposit liquidity at shadow.so/liquidity.
Contango is offering multiple incentives, including OP rewards from both Contango and Compound, EtherFi points, KING rewards, and 3x Contango points on leveraged positions. Users are advised to understand the mechanics of variable rate markets before participating.
Echelon is offering high stablecoin yields, with sUSDe at 14.72% APR, USDT at 17.06% APR, and USDC at 12.44% APR. Users can access these rates on the Echelon platform.
Bedrock's uniBTC (Corn Concrete) Pool has quickly become one of the top BTC LST/LRT pools on Pendle, offering up to 28% APY. Users can access the pool on Ethereum through Pendle’s platform.
Ethervista has introduced Hardstake and Hardlock, enabling users to earn ETH rewards while staking ERC-20 tokens or locking LP liquidity. Rewards come from protocol fees, avoiding inflation and selling pressure.
Hardstake tracks rewards using the Euler Model, while Hardlock secures LP tokens without impacting liquidity.
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