Last Week in DeFi - Linear V2, Near Supports Chain Signature, Arbitrum Memecoin Fund, Wormhole Token Airdrop, and more....
Recap: Week of Mar 25th
Launches π
BadgerDAO launched eBTC, a stETH-backed, synthetic bitcoin token in collaboration with Lido. Users can now use ETH, WETH, stETH, or wstETH to borrow eBTC without any upfront fees or interest.
Notional V3 is live on Ethereum Mainnet. Users can provide liquidity to ETH, USDC, USDT, and rETH to earn yield + NOTE incentives or use these assets as collateral.
Linear released V2 with protocol enhancements, a fresh website, and a suite of new dApps. Linear also released the 2.0 roadmap for the upcoming updates.
Metaplex launched Core on devnet. Core is an NFT standard aiming to reduce compute requirements, increase throughput, and help improve Solana network efficiency.
MIMSwap, Abracadabraβs stable swap, is live on Blast Mainnet. LP, Stake, and Lock functionalities are all live with swapping coming soon.
Updates π°
DeFi Saver now supports Safes and uses Safe as the default smart wallet for new users. This provides users enhanced security, UX, and 10-15% lower gas.
AltLayer ALT token staking is live. The launch of staking initiates the multi-phased rollout of MACH Alpha, a fast finality service for Layer 2 rollups. This service will be used to secure and help scale L2 solutions.
Near Protocol now supports Chain Signatures. Chain Signature is secured by EigenLayer and NEAR stakers, offering users multichain access from their NEAR account.
Pike Finance released tokenomics of the P token, including the token allocation to different categories, the initial distribution, and the token release schedule.
Issues π¨
Prisma Finance was exploited and lost ~$12M in Prisma mkUSD and wrapped stETH. The attacker stole tokens by iterating the attack exploiting faulty migration between troves. The team has paused the protocol and advised vault owners to revoke delegate approval as a precautionary measure.
Munchables, a Blast-based NFT project, was exploited for 62.5M. The attacker (allegedly ex-Munchables dev) is linked to a North Korean hacking group stealing $3 billion worth of tokens since 2017. The attacker later shared all private keys to recover the funds, and $97m has been secured in a multi-sig by Blast core contributors.
Dolomite was exploited and lost 1.8M last week. During the weekend Dolomite reached a deal with the hacker and retrieved 90% of the funds with a refund plan coming this week.
Upcoming β³
Aevo will launch a new Layer 2. Aevo runs on a custom Ethereum roll-up built using Celestia DA and OP Stack.
Maverick v2 is launching soon. V2 will enable a concentrated-liquidity AMM, Programmable Pools, MAV Emissions to Boosted Positions via veModel, etc.
Ethena announced the ENA token launch. The ongoing Shard Campaign will conclude on April 1st, followed by the ENA token claim on April 2nd, where 5% of the ENA supply will be airdropped to users before the second campaign begins.
Ondo will offer instant investment and redemption for OUSG and reallocate a portion of OUSGβs assets into BlackRockβs BUIDL fund.
Angle Protocol introduced USDA, a US dollar-pegged stablecoin. USDA holders can earn yields from RWAs & DeFi assets in USDAβs backing and interests paid by USDA borrowers. USDA will enter private beta and be more available in April 2024.
Ankr introduced Neura, a blockchain for AI startups to deploy, train, and operate AI models. Neura is EVM-compatible, built using Cosmos SDK, and will use ANKR token as the primary currency. Developers can submit a form to join the beta test.
TrueFi plans to launch Trinity, an RWA lending platform allowing users to borrow against RWAs and other yield-bearing assets, minting $TRI against deposited collateral.
SithSwap, a Starknet-based DEX, launched the SITH token and public sale. The token sale runs from March 27th to April 4th (12 pm UTC).
Arbitrum community proposed a memecoin fund that helps selected memecoin projects grow and cultivates a memecoin-friendly culture in Arbitrum.
Safe community proposed to unpause the SAFE Token Contract to enable token transferability. The earliest possible date for the SAFE token to become transferable is tentatively Tuesday, 23 April 2024.
Airdrops πͺ
Wormhole W token airdrop will be claimable on April 3rd at 11:30 AM UTC.
ZeroLend now supports Renzo ezETH, enabling users to earn EigenLayer points, 2x Renzo points, and 2x ZERO points.
Linea will introduce the βLinea Voyage: Surgeβ program in April. Linea Surge is an LXP-driven program that rewards people for having assets on Linea and gives bonuses for deploying those assets into partner protocols. The program will run for six months, or until Linea reaches $3B TVL, whichever comes first.
StakeStone Omnichain Carnival Wave 1 Early Access hast started on 3/26 at 14:00 UTC and will last 4 days. Users who activate their account during early access can get a 15% boost in Wave 1, in which the Wave 1 participants will share 3% of the $STONE total supply.
Solv, the issuer of SolvBTC, will launch the Solv Points System soon.
WomPets NFTs airdrop is now claimable. Eligible participants can claim WomPets until April 9th, 16:00 UTC+8. WomPets is part of Wombatβs Gamified Bribe Market 2.0.
Orderly, an orderbook-based trading infrastructure protocol, will launch a gamified campaign next week where traders earn "Merits" (Orderly points) and compete for a share of Orderlyβs upcoming airdrop.
Synthetix will launch the Pyth Governance Distribution to strengthen the relationship between Synthetix and Pyth Network. Eligible users can submit their SOL addresses in the Synthetix Discord within the next 4 weeks to maintain eligibility.
Ether.fi Points Season 2 runs from March 15 until June 30. 5% of the total ETHFI token supply will be allocated to Season 2.
Napier points snapshots are scheduled for March 26 at 10 am (UTC).
Farms π§π»βπΎ
Trader Joe Memecoin Rush runs from March 29th 12pm to April 5th 12pm (GMT). Users can stake memecoins into single-sided vaults to earn AVAX rewards.
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