Last Week in DeFi - Hamilton Issues T-Bills on Bitcoin L2s, Arrakis Introduces HOT AMM, Ether.fi Season 3 Live, Napier Launches Points Airdrop, and more....
Recap: Week of July 1st
Launches π
Mint blockchain launches its mainnet. Mint is an L2 built using the OP Stack and powered by NFTScan Labs and Optimism.
Aleph Zero EVM is live on the testnet, with the mainnet release scheduled in Q3. Aleph Zero is a ZK-privacy EVM L2 powered by Arbitrum Orbit on Gelato RaaS.
Rarimo, a privacy-first ZK social protocol, launches RariMe app. Users can generate passport ZKPs and prove their age, citizenship, & humanity without revealing their identity.
Synternet (formerly Noia), a data infrastructure L1, launches its mainnet on the Cosmos network. Users will be able to use $SYNT to access and pay for real-time data streams from various publishers across multiple blockchains.
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Updates π°
Hamilton, an RWA crypto startup, has issued tokenized US Treasury Bills (HUST) on several Bitcoin L2s including Stacks, Core, and BoB.
Convex partners with Napier Finance and releases a new derivative wrapper, $cvxNPR, expanding Convexβs product line.
Tally introduces Governance Restaking in partnership with Symbiotic. It separates the governance voting power of tokens from their financial utility as assets that can be put into DeFi.
Jupiter launches Ape, a memecoin trading platform. Jupiter Ape offers a secure wallet vault where users can start trading by depositing SOL.
Preon Finance launches V2, introducing PREON token, oPREON options, stability pool, and omnichain capabilities.
Scroll L2 launches the Curie upgrade, bringing transaction fees down by 2x.
Aptos introduces Aptos Connect, a self-custodial wallet that allows users to create an account with a single click using Web2 login options.
Aevo launches Aevo Strategies, automated trading vaults that execute sophisticated strategies on the userβs behalf.
Aave GHO is now live on Arbitrum utilizing Chainlinkβs CCIP standard. This marks Aave DAO's first new market in its phased GHO cross-chain expansion strategy.
Avalanche introduces Avalanche Interchain Token Transfer (ICTT), enabling efficient token transfers between L1s on Avalanche.
Clearpool has launched Credit Vaults on Base L2, enabling institutional access to on-chain credits.
Circle gets first stablecoin license under new EU MiCA crypto rules. Circleβs USDC and EURC are now available to European customers effective July 1st.
Lidoβs Community Staking Module (CSM) testnet on Holesky is live for early eligible participants and will open for everyone in mid-July.
PayPalβs PYUSD launched on Solana and is live on Jupiter. PYUSD will also be available across Jupiterβs payment integrations, such as Sphere and Helio.
DeltaPrime launches $PRIME and $sPRIME tokens with its TGE live on Uniswap and Trade Joe.
The SEC returned the S-1 forms to ETH ETF issuers and asked them to fix the issues and refile before July 8th. This decision delays the original listing plan scheduled for July 2nd, and the new listing time is expected to be in mid-July or later.
ArkInvest/21Shares files for spot Solana ETF following VanEckβs filling.
Curve Finance has changed its fee distribution mechanism, transitioning from the 3crv token to Curveβs native stablecoin, crvUSD.
GMX V2.1 is live on Arbitrum and Avalanche with UX optimizations, enabling a range of new vaults and added-value DeFi products.
Issues π¨
Bittensor developers halted the blockchain following a suspected security exploit potentially as a result of private key leakage.
The SEC sues Consensys over Metamask staking service and alleges Lido and Rocket Pool staking programs are securities.
Upcoming β³
zkSync unveils the Elastic Chain as part of its 3.0 upgrade. zkSync Era will soon be joined by more than 20 new ZK Chains currently built on the ZK Stack and planning to launch in 2024.
Treehouse Protocol is a fixed-income protocol that will introduce tAssets and Decentralized Offered Rates (DOR) to build infrastructure to unlock fixed-income markets in digital assets.
LayerZero Labs announced its upcoming launch on Gravity, an L1 chain by Galxe. Developers on Gravity will be able to connect to over 70 other chains through LayerZero.
Arrakis partners with Valantis to introduce HOT (Hybrid Order Type), an MEV-aware AMM designed to drive better outcomes for LPs by mitigating LVR/MEV and attracting more healthy flow. HOT is live for permissioned testers and will be open to the public at the end of the summer.
Compute Labs announces a $3M Pre-Seed funding round led by Protocol Labs. Compute Labs is building Compute Protocol, a Solana-based GPU tokenization platform on testnet, and will launch on mainnet this month.
Ether.fi enables pre-orders for its forthcoming Cash Card in September. Ether.fi Cash Card has four tiers and a βGenieβ service for Chad and Whale card holders.
Athena Ins, a forthcoming insurance protocol, will allow LPs to earn more rewards while cover buyers get better rates.
Balancer opens its V3 codebase for community feedback and contributions. V3's new features include a Redesigned Vault, a Transient accounting system via EIP-1153, Re-entrant pool lifecycle hooks, etc.
Igloo, the parent company of Pudgy Penguins, has acquired Frame and will focus on building the Abstract Chain.
marginfi, a Solana-based lending protocol, plans to launch mrgnswap. mrgnswap will allow traders to instantly go long/short on newly created meme coins with leverage.
Lido DAO proposes authorizing Dolphin CL, LLC to file a motion to dismiss a class-action lawsuit in the United States District Court for the Northern District of California that lists "Lido DAO, a general partnership" as a defendant.
Jupiterβs J4J plans for the next 2 months include launching the ASR rewards claim, voting to reduce JUP supply by 30%, two token launches, and voting on the renewal of Jupuary and ASR.
Aptos proposed Aave V3 deployment on Aptos Mainnet. If approved, this will be Aave's first deployment to a non-EVM blockchain.
Opyn launches the landing page of its new perp trading product, Opyn Markets, with the protocol launching soon.
Beracana, an undercollateralized lending protocol that allows up to 5x leverage farming, is launching on Berachain.
Airdrops πͺ
Blast released a blog post for Phase 2 airdrop, saying that 10 billion tokens will be allocated for Phase 2 rewards, and Phase 2 will last 12 months.
Napier Finance launches points airdrop for Liquid (Re)Staking. Napier will launch Point Casino, a new trading platform for yield and points native to the Curve ecosystem.
Sanctum releases CLOUD airdrop part 1 details. 10% of the total supply will be allocated to airdrops, where 5% will be determined by Wonderland XP and 5% by real social contributions (Earnestness).
Ether.fi Season 3 has started on July 1 and will run until Sept 14. Season 3 will launch Perks Passport, a new participation incentive framework to reward stakers for exploring the expanding Ether.fi ecosystem.
Particleβs PTC token is live with 20,000,000 PTC allocated to genesis airdrop wallets on-chain and Bybit. PTC native staking is also live.
Nekodex proposes an $(=βΟβ=) airdrop and plans to allocate 50% of the total supply to Nekodex users, and 50% to LPs on Uniswap or similar DEXs.
Mantleβs Season 1 of ''Methamorphosis'' is live. Starting July 1 at 12AM UTC and lasting for 100 days, users will begin accruing Powder daily across their $mETH positions on partner protocols. Powder will be convertible to $COOL, the future governance token for Mantle LSP.
SuperBoring, a DCA trading dex powered by SuperFluid, is launching on Base with Airdrop 0 starting next week. BORING will be the platformβs token, used to stake on a community project token on Base to earn a portion of that marketβs fees relative to other stakers.
Farms π§π»βπΎ
Stake your GHO on Arbitrum to earn ~20.8% APR from AAVE and Merit Program
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Starknet announces DeFi Spring 2.0 and allocates an additional 50M (totaling 90M STRK) into the program. Users can earn supplemented yield as an LP on participating protocols, such as Ekubo, StarkDefi, Haiko, etc.
Suilend users can deposit SUI, USDC, USDT, or ETH to earn a share of 197,625 SUI over the next 2 weeks.
Kamino users can earn incentives by depositing PYUSD into Kamino Lendβs main market.
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