Last Week in DeFi - Enjin Chain Live, Votium Launches V2, Mountain USDM, iToken Key Leaks, and More...

Recap: Week of Sept. 11th

Product Launches 🚀

• opBNB Mainnet Live
  opBNB mainnet is now open to the public. opBNB is an EVM-compatible L2 built on the Optimism OP Stack. There are now over 150 projects building on opBnB.

• Yearn yETH Live
  Yearn launches yETH, a yield-bearing token comprising five LSTs, including sfrxETH, swETH, wstETH, ETHx, and cbETH.

• Synapse Interchain Network & L2 Testnet
  The Synapse Interchain Network(SIN) and the Synapse Chain testnet are live.
  The SIN is the first PoS bridge and the Synapse Chain serves as the interchain data availability layer for SIN.

• IndexCoop Large Cap Index
  IndexCoop launches $ic21, an index token that provides exposure to the top ten large caps: BTC, WETH, BNB, XRP, ADA, SOL, LTC, DOT, MATIC, and BCH.
  ic21 is based on 21co’s (parent company of 21Shares) wrapped assets.

• Enjin Chain Live
  Enjin blockchain is live, with the Enjin wallet and Enjin apps available. Enjin governance and staking are coming soon.

• Manta Mainnet Live
  Manta launches its Pacific alpha mainnet. Manta is a modular EVM L2 that enables easy integration of ZK features directly into EVM dApps.

• Votium V2 Live
  Curve/Convex bribing platform Votium launches V2 with new features for depositors and improved UX.

• USDM Live
  Mountain protocol launches USDM, the first regulated, yield-bearing stablecoin backed by short-term T-bills. Minting USDM requires users to have a Mountain account.

• Wallet Using FaceID
  Know Nothing Labs launched noseedphrases.xyz, a demo site showcasing an account abstraction wallet that lets users sign transactions with Face ID instead of seed phrases

• MetaMask Snaps
  MetaMask launches Snaps, allowing users to add features and functionality from independent devs to their MetaMask wallet.
  There are more than 30 Snaps to try and more will follow.

Project Updates 🚩

• Comsos V12 Live
  Cosmos has completed the “Gaia V12” upgrade. The upgrade introduces the liquid staking module (LSM), allowing for ATOM staked with validators to convert into liquid-staked ATOM.

• Raft V2 Interest Rate Vaults Live
  LST-backed stablecoin protocol Raft launches V2 Interest Rate Vaults, allowing users to mint the R stablecoin with LSTs as collateral ( $wstETH, $rETH, $cbETH, $swETH, and $WETH). R now offers a 6%-8% APR.

• Thena Perps Live
  Thena launches perpetuals beta on the BnB Chain, allowing users to trade $BTC, $ETH, $BNB, and over 150 other assets with up to 60x leverage.

• TFM IBC Earn
  Cosmos-based DEX and NFT aggregator TFM launches IBC earn, a yield aggregator that allows users to see all yields across Cosmos and be able to enter/exit/transfer positions using a single dApp.

• Gelato zkRollup as a Service
  In Q4 Gelato will launch zkRaaS, a zk-Rollup-as-a-Service platform with native Account Abstraction & the support of 16+ infra partners.
  Core features of zkRaaS include hosting, monitoring, and operating Rollups / Validiums that have access to native Account Abstraction, etc.

• SSV Launch Phase
  SSV network enters the Launch Phase, the last phase before the public launch. Launch Phase enables onboarding of external validators via DVT-based apps from staking partners.

• Sushi Live on Linea
  Sushiswap launches v3 on Linea L2 with bridging, swapping, and LPping available.

• Swaps Across Cosmos and EVMs
  Squid Router now allows one-click token swaps between EVM chains and Cosmos app-chains. Squid is a cross-chain swap and liquidity routing protocol on Axelar Network.

• Paypal Off Ramps
  Paypal now supports both on- and off-ramps, allowing US users to buy crypto/convert crypto back to USD. PayPal Off Ramps is now available to wallets, dApps, and NFT marketplaces and is live on MetaMask today.

Governance Highlights

• Proposals: Polygon 2.0 Phase 0
  Polygon has published three PIPs to implement the Polygon 2.0 upgrade. These proposals include creating a POL token to replace the MATIC token in various capacities.

• Approved: sFRAX
  The proposal to introduce Staked FRAX (sFRAX) into the Frax ecosystem gets approved.

Hacks/Issues 👾

• iToken Wallet Key Leaks
  iToken (formerly Huobi Wallet) faces a breach where a trojan virus set by a Huobi ex-employee has compromised user mnemonics or private keys.

Upcoming ⏳

• Velodrome Slipstream
  Velodrome introduces Slipstream, a new iteration that will add support for concentrated liquidity pools on Velodrome and Aerodrome.

• Movement M1
  Movement introduces M1, a modular Move-based L1 blockchain.

• Dydx V4 Testnet3
  Dydx V4 Tesntet2 winds down in preparation for Testnet3.

• Notional V3
  Notional V3 Beta will launch on Monday, Sept. 25. The beta will be on Arbitrum and only accessible to waitlist users.

• Yearn V3
  Yearn V3 is coming soon after the docs release.

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:

• High-Yield Leveraged Farming

• Test out Innovative Options

• LPing for Airdrop

• and more…

If you haven’t, subscribe today with Credit Card or Crypto (get discounts on quarterly or yearly subscriptions).