Last Week in DeFi - Maple Finance, Arbitrum, xToken Hack, and More

Last week saw Maple Finance and Slingshot launch, as well as several DeFi classics; Alpha Finance and Cover update to V2 (alpha was a relaunch following an exploit in the first launch)

Another week another DeFi hack: staking project xToken was exploited

Several projects announced upcoming launches: Arbitrum, Sushi, and BoringDAO.

P.S. We’ve changed format of the weekly newsletter to make it easy for you to skim through and/or to read news details (by clicking the headlines). Please enjoy!

Sushiswap🍣

Today in DeFi is sponsored by Sushiswap.

Sushiswap is a DeFi-Native, multi-chain DEX which features the best liquidity across many DeFi pairs such as YFI, SNX, and AAVE.

You can swap DeFi pairs at Sushiswap, earn yield by farming, earn yield by lending, stake SUSHI for more SUSHI, or margin trade on Kashi

Sushiswap has also recently launched Liquidity Mining on Polygon. Find out more.

Launches🚀

• Maple is Live
  Maple Finance launched on May 15, bringing credit based lending to DeFi. They’re currently focused on Institutions

• Slingshot on Polygon
  Slingshot, a rebranded DEX aggregator promising better on-chain liquidity, launched an open beta on Polygon.

• Cover V2 Live
  Cover Protocol upgraded to V2 to improve capital efficiency, and V2 also expanded Cover to BSC.

• Sudoswap V2 Live
  P2P swapping platform Sudoswap upgraded to V2 with more features added as the swap fee remains zero.

• Index Coop BTC2x-FLI
  Index Coop launched BTC2x-FLI as an extension of their FLI (Flexible Leverage Index ) suite of products.

• YFI Woofy Live.
  Yearn team launched Woofy on May 12, which is available on Ethereum, BSC, and Fantom. Woofy is a low priced dog coin that is pegged to YFI.

• Alpha Homora V2

  Alpha Homora relaunched its V2 update. The first launch suffered an exploit.

• Balancer V2
  Balancer launched the public facing interface of their V2 AMM.

Hacks👾

• xToken Exploited
  Yield aggregator project xToken got hacked and lost ~$25m in funds across their xBNT and xSNX pools.

Upcoming⏳

• Sushi MISO Launching
  Sushi is launching a new token offering platform for project builders on May 17.

• Arbitrum Mainnet Soon
  Layer 2 platform Arbitrum plans to open mainnet for developers on May 28.

• BoringDAO V3
  Multi-chain bridge project Boring will upgrade to V3 this year. The upgrade will expand support to more EVM compatible chains, as well as introduce features for NFTs and Layer 2s.

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Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned.