Last Week in Defi - Ethervista is now live on Arbitrum and Base, Binance identified a global malware, WalletConnect set to launch Token, EigenLayer Season 2 Stakedrop claims, and more..
Recap: Week of Sept 16th
Launches 🚀
Ethervista is now live on Arbitrum and Base, and it will soon be the first DEX live on Soneium, eyeing the strategic position of Sony’s L2 to bridge real-world assets with digital assets. Ethervista is eager to position itself as a key partner for future real-world utility projects.
Azuki announced a new flagship content hub, anime.com. The platform will be part of Azuki’s blueprint to build an anime universe and encourage user-generated contents based on the Azuki NFT series. You can now join the waitlist and to participate the official launch of anime.com here.
ORE, a proof-of-work token everyone can mine, just started a company called Regolith Labs. The mission of the entity is accelerating the development of the ORE ecosystem to onboard millions of net new users to crypto through new proof-of-work mining primitives and liquidity networks on Solana.
Sky, formerly known as Maker protocol, is set to launch today with new $SKY and $USDS tokens. MKR holders will be able to convert their tokens to $SKY at a ratio of 1:24,000, while DAI holders can convert to $USDS at a 1:1 ratio.
Vertex Protocol, a decentralized exchange, has launched on Base. The platform offers spot and perpetual markets with unified on-chain liquidity for non-US users.
Ethena Labs has introduced sENA, a liquid receipt token for staked ENA. This token aims to improve liquidity and transferability for use in various DeFi applications. sENA will include a 40x daily rewards multiplier in Season 3 and will be necessary for earning rewards in the future.
Venus Protocol, a leading multichain decentralized money market, is now live on zkSync. This launch introduces lending markets for WETH, WBTC, USDT, and USDC.e, with additional markets planned by year-end.
Aleo mainnet is live now. A novel L1 blockchain designed to address the growing need for privacy and security in dApps, Aleo leverages Zero Knowledge Cryptography to deliver the privacy-preserving, permissionless, and programmable value proposition. There are more than 350 teams actively building on the platform.
Everclear, the first layer dedicated to cross-chain clearing, is now live. The tasks of Everclear is to coordinate the global settlement of liquidity between chains and significantly lower the the transaction, rebalance, and custody costs of bridges, dApps, and exchanges. According to Everclear, 80% of daily cross chain capital flows are nettable within 24 hours.
Light Protocol rolls out the major feature of ZK Compression on Solana today. Zk Compression helps developers save 1000x cost while using ZK on Solana, setting the foundation for ZK compute on Solana and providing developers with the solution to state growth with ZK.
Pencil Protocol’s DAPP token public sale is now live on Tokensoft. There are now three purchase options available each with different prices, amounts, and vesting periods . An Identity Verification is also required to finish the purchase.
Mycel’s first public testnet Spore is now live. Spore utilizes Mycel’s Transferrable Account feature and helps users to mint NFTs across chains. With Transferrable Account, you can mint NFTs on Ethereum even if you only have BNB token on BNB, and it works on any chain.
Noble Wallet now supports EURe issued by Monerium. EURe is the first fully regulated, authorized & collateralized Euro stablecoin, and it’s also the most used Euro stablecoin by volume. You can now connect you Noble Wallet with Monerium IBAN number to virtually bridge Cosmos with banking systems.
Linea Guild Games is now live. In collaboration with Game7 DAO, Hyper Play Gaming, and Unfettered Game, Linea aims to build a ecosystem with community-voted games that users can play to earn. You can choose to join one of the four guilds to participate in the ecosystem and play for rewards.
Transmission, the voting marketplace of Gearbox, is now live. You can stake your GEAR to gain the power to vote and influence the interest rates on assets by casting your votes to the gauges. Staking not only gives your extra APY, you can now also earn special rewards during the Gauge Missions period.
Updates 📰
Celestia introduces its first-ever upgrade, Lemongrass. The upgrade aims to reduce spams and increase chain efficiency, enable one-click cross-IBC-chain transaction, improve data transmission speed, and introduce the IBC Interchain Account.
Circle is moving HQ to New York after filing confidentially earlier this year for US IPO. The move is widely interpreted as the sign that Circle is looking for further collaboration with traditional financial industry and regulators. "Our new headquarters near the top of One World Trade Center is a symbol of the trust, security and stability we're building as a critical infrastructure provider for the future of finance," said Circle co-founder and CEO Jeremy Allaire in a statement.
Nillion, a distributed network built for general data computation and processing, is integrating with NEAR Protocol. Nillion’s main utility is to enable developers to move computation tasks off-chain and preserve privacy. Many decentralized AI protocols choose NEAR as the founder, Illia Polosukhin, was one of the key developers of one of the biggest machine learning development tools, Tensorflow.
TON Foundation is collaborating with Curve Finance to develop a stable-swap project on the TON blockchain. The project will utilize Curve's market-making model to potentially improve stablecoin trading and DeFi performance.
Sui has formed a partnership with MoviePass, acquiring an equity stake and planning to integrate USDC for subscription payments. The collaboration seeks to explore decentralization in the film industry by offering new tools for producers and enabling fan participation in movie production.
Fluid is now integrated with Contango. You can now lend/borrow 25+ pairs on Fluid with one-click leverage through Contango with lower liquidation penalties on Ethereum, Arbitrum, and Base.
Binance Labs invested in Hemi, a L2 network that integrates Bitcoin and Ethereum for enhanced security and programmability. By combining Bitcoin’s robust security and capital base with Ethereum’s flexibility and programmability, Hemi is focused on advancing the technical, economic, and social layers that reside between the industry’s two largest and most utilized protocols.
Safe DAO is considering adding fees for any in-wallet swap. As one of the biggest multi-signature wallet providers, the upgrade by Safe is likely to increase the costs of many protocols and institutions who heavily rely on multi-sig for operations. Snapshot voting is now live.
Universal’s uBTC is now live on Aerodrome. You can now supply into cbBTC/uBTC liquidity pool to earn up to +100% APY. The TVL has grown to +$300K with over $600K in volume in the first 24 hours since the pool is live.
Pendle has onboarded Corn-wrapped uniBTC, SolvBTC, and LBTC. You can now purchase PT for ~9$ fixed APY or supply to their liquidity pools for 30-150% APY.
Issues 🚨
Binance identified a global malware issue that alters withdrawal addresses during the transaction process. Binance warned users to especially beware of any apps and plugins installed on Android and Windows. iOS users should also stay alert in case of potential security breach. The team is now fixing the issue and blocking suspicious addresses.
DeltaPrime, a DeFi yield protocol, experienced a security breach on its Arbitrum deployment on September 15, resulting in a loss of $5.98 million due to a compromised private key. The attack impacted USDC, ARB, and BTCb pools. DeltaPrime has stated that the risk has been contained and its insurance pool will cover user losses. Following the incident, the total value locked (TVL) decreased by 40%.
Ethena’s domain registrar account was temporarily compromised and turned into a phishing site. The protocol itself is unaffected with no fund at risk. The team soon regained the control of the domain and the official website is now back online.
Rari Capital settles charges with SEC over misleading investors. Rari, at their peak, had more than $1 bn crypto assets under management.
BingX's hot wallet was compromised in a recent hack. The team quickly launched an emergency response to transfer assets and suspend withdrawals. According to PeckShield, approximately $22.7 million cryptos was siphoned off and exchanged for other assets by the attacker. All withdrawals are halted, and BingX has yet to provide details on the impact on users or any forthcoming compensation.
Upcoming ⏳
WalletConnect is set to launch its native Connect Token (WCT) on Optimism's OP Mainnet, with a total of 185 million WCT allocated for an airdrop. Registration for the airdrop will start on September 24, and eligibility will be determined based on WalletConnect network usage. The airdrop will run until October 11, with tokens initially non-transferable.
Trump is launching World Liberty Financial on Sep 16 on X Spaces. "For too long, the average American has been squeezed by the big banks and financial elites. It's time we take a stand—together," Trump posted alongside the link to Telegram group of World Liberty Financial. Further details about the project, such as project type, utility, website, roadmap, etc. are still unknown.
Iggy Azalea is planning to announce further details on what Motherland is later this month. While details are mostly unknown, market widely expect the project to be a combination of entertainment, social, and gambling platform according to Iggy’s Telegram messages. The token MOTHER will be of market focus as the announcement date approaches.
Manifest, an open source orderbook DEX on Solana, is now beta live. Manifest supports fully onchain orderbook trading with the goal of breaking market manipulation common on AMM DEXs and delivering transactional freedom to everyone equally.
Sui will introduce native USDC and a Cross-Chain Transfer Protocol (CCTP), becoming the first Move-based blockchain to support native USDC. This development is expected to enhance cross-chain transactions and DeFi opportunities within its ecosystem.
Avail has teamed up with Lens Protocol to integrate its data availability (DA) layer into Lens' forthcoming Layer 2 chain. This integration aims to improve scalability for on-chain social media. The new network, built with zkSync's ZK Stack, is scheduled to launch in Q4 2024.
EigenLayer is launching Programmatic Incentives v1, a feature that will provide weekly rewards of newly-minted EIGEN tokens. Starting in October 2024, qualifying stakers and operators will receive rewards retroactively from August 15, 2024.
Stacks.btc is concluding its "21 Days of Nakamoto" campaign with the launch of "The ₿est and the ₿rightest" initiative. This campaign will showcase partnerships with prominent Bitcoin-focused companies and promote sBTC, a Bitcoin-backed asset designed to enable smart contracts on Bitcoin. The initiative is set to launch in late October.
My Neighbor Alice, the on-chain multiplayer game backed by Binance, is set to transition to the Chromia mainnet on September 24, marking the launch of its Beta Season 2. Players can look forward to new quests, additional games, and various events that offer opportunities to participate, win, and earn rewards.
Airdrops 🪂
EigenLayer has begun Season 2 Stakedrop claims, providing rewards to stakers, operators, ecosystem partners, and community members for their contributions. Eligible participants can claim their EIGEN tokens from September 16, 2024, to March 16, 2025. A new programmatic incentives system with weekly emissions will be introduced soon to offer additional rewards to stakers and operators.
tBTC can now be deposited on EigenLayer, marking it as the first incentivized BTC asset available for restaking. This integration allows Bitcoin holders to earn rewards, including $45k in incentives from Threshold DAO, while supporting the security of EigenLayer’s Actively Validated Services.
Synnax Technologies has launched SYNQUEST on Telegram, where users can participate in trivia, earn points, and convert them into $SYNAI through future airdrops.
Jumper Exchange has collaborated with SeiyansNFT to launch three quests featuring 27 NFTs as rewards. The event will take place from September 17 to September 24, giving participants the opportunity to win SeiyansNFT collectibles.
Quai Network, a scalable and programmable Proof-of-Work blockchain, is set to launch its Golden Age Testnet on October 15th. The testnet will include a pool of 10 million Mainnet Quai tokens, which will be distributed based on participants' Testnet Quai holdings.
Layer3, in partnership with Manta Network and powered by Calderax, is introducing the Metalayer with over $100K in incentives. Participation is exclusively available through Layer3.
Phantom is now giving out usernames to the first round of users. Any OG, those who joined when Phantom was still desktop-only, can claim the username in the wallet. Make sure you’re using the latest version and the notification will soon pop up.
Mantis, Solana’s L2, has concluded Phase 1 of Pre-fund Stage. Phase 2 has now started, and anyone can pre-fund Mantis Account to deposit and earn credits for future airdrop with multipliers on top of yields.
Aleo incentives distribution is now live. If you’re eligible, you can proceed to complete KYC process to claim your incentives. Eligible groups include ambassador, testnet contributors, early adopters, and developers.
LayerZero’ ZRO airdrop is closing soon on Sep 20. After that, any unclaimed tokens will be reallocated on a pro-rata basis to eligible wallets that claimed before the deadline. These tokens will be available to claim later that same day.
BNS V2 airdrop is now live. Anyone with a BNS name (.btc, .id, or anything else) will be receiving a v2 version of their BNS name today. It's currently estimated that it will take ~6 hours for the airdrop to be distributed to all 310k+ wallets.
Derive’s LBTC Sell Put Harvest Strategy is now earning 8-30% APY with 3x DRV Points, 2x Lombard Lux, and Babylon Points. The strategy sells short-term out-of-the-money put on top of suppliers’ long LBTC positions to farm the option premium.
SkateFi’s is now giving out 50K MNT and 7M Ollies to users who deposit into SkateFi’s vault on Mantle during Sep 20 - 29.
Farms 🧑🏻🌾
Stake your GHO to earn ~% APR from AAVE and Merit Program
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