Last Week in Defi - Gravity Alpha Mainnet, Grayscale AVAX Trust, Kelp $agETH on Pendle, and more..
Recap: Week of Aug 19th
Launches 🚀
Babylon has launched its Bitcoin Staking Protocol, enabling self-custodial staking of Bitcoin while retaining full custody. Users can stake directly on any PoS system without losing control.
$ME, a cross-chain token, will support the dApps ecosystem by facilitating seamless trading of fungibles and NFTs across chains through MagicEden.
Viction, a people-centric blockchain, has announced the launch of its DA Network mainnet, a significant step in scalable and secure data management for the Viction ecosystem.
Diva Operator Testnet's final version is now available on Holesky. The Beta release features telemetry improvements, Synapse SDK integration, enhanced validator creation, and updates to the consensus algorithm.
Aave V3 is launching on Era Mainnet with zkSync, incorporating Chainlink's price feeds. The AaveChan Initiative will manage GHOAave incentives through zkSync ecosystem airdrops and related programs.
YieldNest, a liquid restaking protocol, has launched ynLSDe, its first Liquid Restaking Token (LRT), designed to enhance the rewards from staked $ETH.
DeepBook, a decentralized liquidity layer, has launched its V3 Testnet. The update includes improvements to liquidity and trading fees, with the goal of providing performance similar to CEX on decentralized platforms.
DeFund, a cross-VM liquidity hub, has launched its testnet. The project aims to solve DeFi interoperability problems by reducing impermanent loss and connecting different ecosystems for a smoother DeFi experience.
Beraborrow has announced that testnet early access is now live for Big Fat Beras and Honey Jar’s Honey Comb NFT holders, with general access coming soon.
Base announced the launch of Basenames, allowing users to claim unique base.eth usernames for onchain identity. The Basenames are being sold via a Dutch auction to ensure fair access.
Gravity, a Layer 1 blockchain, has launched its Alpha Mainnet. The platform aims to enhance cross-chain interactions with features like fully onchain questing, smart savings, and its native gas token, G Token.
Flashbots has launched the Toliman on testnet, the first public testnet for SUAVE, enabling the creation of new intent systems, auctions, AI agents, and more as a coprocessor to Ethereum's block production process.
Puffer UniFi, a Based Rollup designed to address Ethereum’s fragmentation, is introducing a unified experience for Ethereum Layer 2s, aiming to create seamless integration across all L2s.
DubdotSocial is launching on Solana to create a fairer and more enjoyable space for memecoin traders, aiming to level the playing field against bots and ruggers.
Eden Network, has launched "So Extra", a decentralized auction app, now live on the SUAVE Toliman testnet, allowing users to publish custom messages to Ethereum blocks via the extra data field.
Updates 📰
Astar Network has started Phase 1 of its evolution by transitioning to Soneium L2, an Ethereum Layer 2 developed by Sony Block Solutions Labs. This change aims to enhance ASTR token utility and broaden Web3 integration.
Grayscale has introduced the Grayscale Avalanche Trust ($AVAX), a new single-asset crypto investment fund available through private placement for eligible accredited investors. Additionally, Franklin Templeton is expanding its tokenized money market fund, FOBXX, to Avalanche.
Tanssi, an appchain infrastructure protocol, has expanded to Ethereum in partnership with Symbioticfi, enabling the rapid launch of decentralized networks (AVSs) with customizable environments.
OKX Wallet now integrates with Sonic SVM, enabling users to claim Sonic test tokens, start their Odyssey campaign, and play games on Sonic. An exclusive Sonic x OKX Wallet campaign is scheduled to launch next week.
Arbitrum is holding a vote on the introduction of ARB staking to increase utility and governance. The proposal includes creating a liquid staked ARB token (stARB) for DeFi and restaking purposes and forming working groups to address reward funding and delegate incentives. Voting begins on August 23.
Stargate DAO is proposing changes to its staking system to replace the current ve-tokenomics model. The proposed changes include removing the existing lock feature, introducing a 21-day unbonding period, and distributing Treasury tokens to previous lockers in stages.
Superbridge has rolled out themed bridges for specific tokens. New additions include dedicated bridges for $ezETH and $USDC, using Hyperlane’s warp routes and Circle’s CCTP for fee-free transfers.
Dumpy.fun, a platform for leveraging and shorting memecoins, has entered open beta. The update features increased leverage options, a broader range of assets, and the removal of password requirements.
Curve has proposed allocating 21 million CRV tokens from the Community Fund to Swiss Stake AG for ecosystem development. The grant, which will be vested over a year, will slightly increase CRV inflation but aims to fund development rather than a sell-off.
Zeroway, an interchain platform, has just rolled out the Multi Gas Refuel feature on Hyperlane, allowing users to move assets across multiple networks with a single interface.
Tether is expanding its USDT stablecoin to the Aptos blockchain, offering users on the Aptos network the ability to transact with USDT at lower costs compared to networks like Ethereum.
ParaSwap has launched an intent-based trading protocol to curb MEV attacks, allowing users to set trading intents, which are processed by AI agents to reduce MEV risks. This aims to enhance DeFi's user experience and efficiency.
YieldNest, a liquid restaking protocol, is expanding its next-gen restaking solutions to Base, aiming to offer users enhanced accessibility, lower costs, and a seamless DeFi experience while ensuring security through audits and active risk mitigation.
Worldcoin has signed an MoU with MIMOS Berhad, the Malaysian Government's R&D arm, Tools for Humanity (TFH), and MyEG to integrate its technology into Malaysia's digital infrastructure.
Swell announced its points overview, including White Pearls for TGE updates, Black Pearls for claiming $SWELL in October's Wavedrop, and Ecosystem Points for Swell L2 airdrops.
XNET is now live on Solana, using DePIN technology to expand mobile coverage through deployers placing devices in businesses.
Issues 🚨
Kresko, an open platform for synthetic stocks, commodities, and crypto, is shutting down due to significant health challenges faced by the founder. The community is advised to withdraw or migrate assets by September 10, 2024, with the option to transition to Kopio, a fork of Kresko's protocol.
Seif Wallet has issued an urgent security alert due to a critical breach affecting versions v1.1.0 to v1.1.5, where private keys were exposed. Users are advised to update to v1.1.7, check if they're affected, and if so, transfer assets to a secure wallet immediately.
AshPerp, a decentralized perpetual trading protocol on MultiversX, experienced a rare oracle configuration error on August 19, 2024, resulting in a $26,000 loss for vault liquidity providers (LPs).
Pocket Universe announced that Parcl’s official website has been hacked, draining tokens from Solana wallets and displaying fake transactions in Phantom. Their Twitter account is also compromised.
RabbitX is experiencing latency spikes with trade and order histories. The team is awar eof the issue and is working on a fix.
Armada has announced that their CLMM is shutting down. Users are advised to withdraw any tokens from the CLMM product.
The Optimism Foundation has reverted its network back to permissioned fraud proofs after community-driven audits uncovered vulnerabilities in the permissionless system. A proposed upgrade, including a hard fork named "Granite," is scheduled for September 10 to address these issues.
Upcoming ⏳
Gearbox has proposed the implementation of a fundamental oracle for stETH and wstETH across all its deployments. This initiative aims to ensure accurate and stable valuation of these assets by employing an oracle system that reflects their underlying ETH value.
Rocket Pool is conducting a vote on RPIP-49, a proposal to revise tokenomics to improve growth and capital efficiency. The proposal includes several RPIPs related to bond curves, megapools, and protocol upgrades.
Corn, a new Ethereum Layer 2 network, uses Bitcoin as its gas token through the hybrid BTCN token. The network is designed to align users, apps, and token holders while providing yield opportunities.
Starknet is initiating its first Mainnet vote for STRK holders regarding the introduction of staking. The vote will address the minting mechanism and its adjustment parameters. The test vote is scheduled for September 2-4, 2024, with the main voting period from September 9-13, 2024.
Clearpool is introducing Ozean, an Ethereum Layer 2 network based on the OP Stack, on August 20. Ozean aims to support real-world asset (RWA) yield protocols and includes an optional compliance layer and a decentralized identity system for KYC purposes.
Babylon is set to launch Bitcoin staking mainnet Phase-1 in 2 days.
Base is launching Basenames on August 21, 2024. They will be available through a Dutch auction over 36 hours, ensuring fair access and preventing bots from dominating the process.
Kumo has announced that their mint event is set for August 21, 2024, starting at 14:00 UTC and lasting for 2 hours.
Kaia's mainnet is scheduled to launch on August 29, 2024. Key preparations include disabling staking on Finschia, updating on-chain parameters, and launching new services such as Kaia Portal and Kaia Square.
Polygon Labs has announced the MATIC to POL migration, set for September 4th. In this initial phase, POL will replace MATIC as the native gas and staking token for the Polygon PoS network.
Babylon has announced the upcoming Phase-1 of its Bitcoin Staking Mainnet launch, scheduled for next week. During this phase, Bitcoin holders will be able to lock their BTC for staking, marking the beginning of Babylon's mainnet activities.
Airdrops 🪂
Orderly Network has surpassed 1 million messages with LayerZero Labs and received a $ZRO grant. Users can participate in The Big O Campaign to share 50,000 $ZRO by completing quests.
Bedrock has launched the Merlin Mega Campaign, where users can mint, swap, and restake $uniBTC on the Merlin Network to earn points and rewards.
Origami Finance has announced early access to deposit stables and bond USD0 for USD0++. Depositing USD0++ into the lovStables vault on Origami will start earning rewards.
Four.Meme announced pre-airdrops for active Pump.fun and BNB Chain users during Points Summer Season 1. Eligible users can claim Four.Meme Points, an Airdrop Collection NFT, and multiple BSC Meme Token from August 21 to September 20, 2024.
dYdX has announced Season 6 of the Launch Incentives Program, offering a $5 million incentive pool for traders based on dYdX Chain activity. The program includes bonuses for stakers, points multipliers for diverse trading activities, and rewards for market makers, with the season ending between August 18-28, 2024.
Stride announced ten days left to insta-claim the stTIA airdrop. Users can choose to receive STRD from August to December or forfeit 30% for an immediate claim. The insta-claim window closes after August 31.
Hemi Network, a modular protocol powered by Bitcoin and Ethereum, has launched its incentivized testnet. Users can earn rewards through testnet activities, which contribute to their point totals. The testnet aims to attract and retain users, developers, and creators before the mainnet launch.
Dynamyte, a launchpad protocol on Gravity, has initiated The Gravity Bomb campaign. Participants can claim a Gravity Bomb NFT, which provides a $TNT airdrop multiplier, whitelist access for the $TNT public sale, and entry to the first IDO on the launchpad.
Magic Eden Wallet's mobile app is now available on iOS and Android, with a $100K Mintfest prize pool. Mint exclusives from WIF, Michi, and Echelon are accessible through the Magic Eden Wallet to earn entries.
Notional has completed the Season Two $ARB point drop, with all amounts over 1 $ARB transferred directly to users.
Ramen Finance, a decentralized token launch protocol on Berachain, has announced the closure of Gacha registration. Users can now check their allocation for the token sale.
ZKsync has launched the DeFi stage of ZKFest, running from August 19-30. Participants can connect to ZKsync Era, take part in various activities, and earn rewards.
Kelp DAO announced that $agETH is now live on Pendle, offering rewards and airdrop access. The pool provides exposure to multiple L2 networks and restaking platforms.
Zerion announced its Points Drop campaign with The Dapp List. Users can earn points by holding Zerion NFTs, supporting Zerion on The Dapp List, or sharing on social media.
Spark announced a campaign offering rewards for ETH borrowers on SparkLend, with a share of a 225 wstETH pool. The campaign ends on October 21, 2024.
Kamino Foundation announced that Season 2 distribution is now available for claim. Eligible participants can claim their tokens through the provided link. The claim period will remain open for six months.
Sonic Labs announced the Sonic Gems and Sonic Boom bounty programs. The Sonic Boom program rewards projects with Gems for app development across various categories. An airdrop of $S is allocated to Gems holders.
Grass has announced that they are preparing for an upcoming airdrop. Users should ensure their preferred wallet is linked to their Grass account by August 23, as it will not be possible to change it until after the airdrop.
Leap, , a Cosmos wallet, has announced that liquid staking with DropDotMoney is now live on its platform. Users can stake their $ATOM to receive $dATOM and earn staking rewards.
Puffer Finance has announced that, as part of Chapter 4 of the Crunchy Carrot Quest, an allocation of 1% of $GS will be distributed to the Puffer community.
DUPER has announced that their weekly reward drops are live. Users can check their homepage now to see their rewards.
Farms 🧑🏻🌾
Stake your GHO to earn ~28.10% APR from AAVE and Merit Program
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