Last Week in Defi - $MORPHO Transferable, Sui Adds Native $FDUSD, Galxe Live on Telegram, Binance $BFUSD offers 19.55% APY, and more..
Recap: Week of Nov 18
Launches π
Galxe, the biggest SocialFi and web 3 quest platform, is now live on Telegram. Users can now complete quests in Telegram to learn about web3 and earns you GG points, which unlock rewards like Lucky Spins with prizes such as $G tokens, Jambo Technology phones, and more.
RISC Zero introduces Kailua, a hybrid architecture that gives OP chains 1-hour finality without the higher cost of constant ZK proving. Built together with rollup-as-a-service providers Conduit, Alchemy, Caldera, AltLater, and Gelaton, Kailua shortens the time for OP chain to reach finality from 7 days to 1 hour.
Monad, an Ethereum-compatible Layer 1 blockchain, has initiated its testnet rollout. Designed to enhance scalability and performance within the Ethereum ecosystem.
Lens Protocol introduces Social Legos, modular tools for onchain social innovation, enabling customizable, user-owned features for identity, connection, and discoverability.
Sky Ecosystem announced the launch of USDS on Solana, marking it as the first major DeFi-native stablecoin on the network. This integration unlocks new opportunities for lending, borrowing, and trading across top DeFi platforms on Solana. Early adopters can access weekly rewards, with governance-approved rewards for liquidity providers and suppliers on platforms like Kamino Finance and Drift Protocol.
ORA Foundation has introduced $ORA, a token designed to advance blockchain intelligence through decentralized AI. With a total supply of 333,333,333, $ORA will power Ethereum's intelligence, from nodes to governance, and aims to shape the future of decentralized AI and blockchain. The token's launch value is set at $333,333,333.
Henez Finance announced the launch of the $HEZ Token Sale on FjordFoundry, introducing the first Chain Abstraction Layer for DeFi. The sale features a fixed-price model with a fair FDV (Fully Diluted Value) launch, and 80% of the tokens are community-owned. Interested participants can join through the provided link.
Usual's $USUAL token is now live on Binance Pre-Market. It is designed to be revenue-based and disinflationary, with its supply growing scarcer as total value locked (TVL) increases. The token also grants holders ownership in Usual's governance and treasury, positioning it as more than just a typical token.
Mezo Network has launched matsnet Alpha, a new platform that transforms community engagement by bridging Mezo's "mats" directly to a Bitcoin testnet. Users can earn mats through activities like meme creation, Discord participation, or deposits. These mats can be converted into matsnet BTC, which can be used for stacking sats, gas, and exploring the Mezo ecosystem. This integration allows community contributions to become tradable assets with tangible utility.
Base introduces USDC rewards on Coinbase Wallet, offering 4.7% APY for holding USDC on-chain.
Zircuit launches Season 3, focusing on active liquidity on L2 and Mainnet transactions. Season 1 claims are live, with Season 2 claims opening soon. L1 and L2 stakers are already earning Season 3 points.
dYdX launches MegaVault, allowing liquidity provision across all markets with rewards from protocol fees and MegaVault's PnL.
Adrastea Finance launches Epoch 1, enabling $SOL and $sSOL restaking with $lrtsSOL for liquid staking in one click.
Magic Eden launches Rune Swaps Beta with onchain orderbook and full mempool protection. BTC-to-Rune swaps are live, with Rune-to-BTC swaps rolling out soon.
Mode launches AI Agent App Store, enabling onchain AI agents for DeFi strategies. Developers can list agents as Mode scales AI-driven blockspace use.
Coinshift launches csUSDL, an RWA-backed Liquid Lending Token offering yield and security. Built on Safe, it supports treasury optimization for individuals and institutions.
Fluid Protocol beta launches on Fuel Network, introducing $USDF as its first native stablecoin. Users can borrow $USDF interest-free, earn $FPT rewards as Stability Providers, and stake $FPT for additional rewards. Retroactive Fuel Points can be earned by depositing ETH-based assets or providing liquidity for $USDF and $FPT.
Solayer launches Savings Account for sUSD holders, offering staking, earning, and milestone-based rewards. Phase 1 access is open to sUSD holders in the Raydium sUSD-USDC pool or those with referrals. Eligibility runs Nov 18β25, with account claiming available Nov 25βDec 2.
Brahma, a user-friendly multi-sig account platform supporting multiple chains, has launched a rewards campaign where users can boost their Karma score by completing on-chain actions, earning badges, and enhancing their overall experience.
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Updates π°
Uniswap v4 Address Mining Challenge is now live. Building on the capital efficiency of Uniswap v3, v4 offers enhanced flexibility through hooks and optimized gas usage throughout trades. Pool creation costs will drop by 99.99%, and traders will benefit from cheaper multi-hop swaps. The challenge, running until December 1, 2024, invites users to find a salt value for the CREATE2 deployment function that generates a contract address with the most leading zeros and prominent occurrences of the number 4 for the upcoming v4 launch.
Covalent has integrated with Unichain, an OP Stack Layer 2 platform by Uniswap Labs, to provide developers with easy access to Unichainβs onchain data.
This collaboration allows for efficient building of DeFi applications by simplifying data queries, enabling real-time insights, and providing a suite of developer tools.
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YOM, the decentralized cloud gaming infrastructure, has migrated from Solana to peaq. Developers from YOM said the aggressive marketing of meme tokens on Solana has damaged the findability of more serious, yet underground, infrastructure projects.
Following the Binance launchpool of USUAL, Usualβs USD0 and USD0++ are now integrated with Morpho, Euler, Term Finance, Curve, Pancake, Uniswap, and Pendle with the upcoming expansion onto L2s.
New KelpDAOβs agETH pool and Bedrockβs uniETH pool are now live on Penpie with boosted airdrop points on top of autocompounded LP fee, PT yield, and PENDLE rewards.
Renzo will soon double the cap of SOL restaking for ezSOL with incentives available to provide liquidity on Kamino Finance.
Clearpool reports a 76% revenue increase from Q2, driving $CPOOL buybacks. Revenue from Prime, Dynamic Pools, Credit Vaults, and the USDX Pool funded the buyback, with 50% of tokens burned and 50% allocated to rewards.
Morpho Labs enables $MORPHO transferability starting November 21.
Jito opens $50M cap for (Re)staking deposits via Renzo, KyrosFi, Fragmetric, and the Jito homepage, enabling users to stake easily with streamlined steps.
Kamino boosts incentives in the Jito Market by 50%, offering SOL depositors 18,000 $JTO weekly with the remaining capacity of 100,000 SOL.
Sky raises its Savings Rate to 8.5%, offering higher USDS rewards through the decentralized Sky Protocol while ensuring users retain full control of their assets.
Pendle's Penconomy expands as Term Labs adds PT-sUSDE support for fixed-rate borrowing, enabling leveraged Ethena Labs sUSDe yields with fixed spreads.
$ME tokenomics reveal a 1 billion supply distributed over four years, with 12.5% available at TGE for eligible users across Bitcoin, Solana, and EVM ecosystems. The allocation prioritizes community rewards (37.7%), contributors (26.2%), and strategic participants (23.6%), with long-term locks for most. The ME Foundation, supported by a Security Council, will steward the ecosystem, ensuring safety and growth. Eligibility checks and claims begin before TGE.
Elixirβs new βdeUSD RWA Institutional Program,β launched in partnership with Securitize, enables holders of tokenized real-world assets (RWAs) like Blackrockβs BUIDL to access DeFi via deUSD, backed by $110M+ on-chain liquidity. The program ensures isolated yield exposure and 1:1 redemption for USDC without altering deUSDβs risk profile.
Clearpool's Ozean has partnered with Nexade, an RWA protocol under Incomlend, to bring SME invoice financing on-chain. Backed by Peak XV Partners, Nexade will integrate with Ozean to enable up to $100 million in invoice financing opportunities, revolutionizing SME access to capital within the RWA sector.
MetaMask has launched Extension v12.6, introducing two major features: token swaps without needing ETH for gas, enabled by the MetaMask Gas Station, and the ability to sign transactions across permitted networks without manual network switching, thanks to Chain Permission controls. These updates enhance usability, security, and user convenience.
Uniswap Wallet now supports in-app bridging, enabling users to move native assets and stablecoins across 8+ networks quickly and permissionlessly.
Sui now supports native $FDUSD, enhancing liquidity, utility, and multi-chain compatibility while enabling innovative applications in payments and data transfers.
Drift Protocol integrates Ondo's tokenized US Treasuries on Solana, enabling yield-bearing RWAs as collateral for a consumer-focused financial hub.
Morpho Labs enables $MORPHO transferability starting tomorrow on November 21 at 08:00 UTC.
Term Labs integrates with EtherFiβs liquid vaults, offering secure fixed yields through the Market Neutral USD Vault powered by Veda Labs.
Storm Trade completes its largest buyback, repurchasing 414,541 $STORM using 30% of protocol fees. Users can earn up to 102% APR through staking and farming opportunities.
Fluid now offers 5x rewards for borrowing $GHO against $sUSDe, enabling users to maximize points through looping strategies.
MetaMask introduces token swaps without requiring ETH for gas, available now on the browser extension. Mobile support coming soon.
Symbiotic has expanded its collateral options by adding $SWELL and increasing caps for $sUSDe, $stETH, $LBTC, and $mETH.
Aave adds rsETH to its v3 Ethereum market for supply and borrowing. Depositors earn Kelp miles and EigenLayer points.
Issues π¨
Coinbase announced it will suspend trading for Wrapped Bitcoin (wBTC) on December 19, 2024, at approximately 12 PM ET. The suspension affects Coinbase.com (Simple and Advanced Trade), Coinbase Exchange, and Coinbase Prime. Users will retain access to their wBTC holdings and can withdraw funds anytime. wBTC order books are now in limit-only mode.
Sui Network faced its first outage due to a congestion control bug. A fix was deployed, restoring activity within 2.5 hours.
Upcoming β³
Ondoβs RWA-backed stablecoin OUSG will support 24/7 conversions with Paypalβs PYUSD. Users will soon be able to convert in & out of Ondo's OUSG with PYUSD, enhancing redemption liquidity and expanding the utility of PYUSD as a liquidity source for RWAs. The collaboration will expand access to tokenized US Treasuries while enabling 24/7 instant redemptions of OUSG into PYUSD.
Binance is set to launch $BFUSD, a yield-bearing stablecoin usable as collateral for trading and borrowing while offering 19.55% APY.
Zerion introduced Zerion Rewards, enabling 10M wallets to earn XP for on-chain activities. Users can claim XP by importing their wallets and engaging in tasks like swaps, bridges, TVL maintenance on ZERO Network, completing daily quests, gas spending on 13 chains, and referrals. This program follows the ZERO Network's mainnet launch and integrates ecosystem dApps.
Sonic Labs announces its launch in December 2024, with the exact date yet to be revealed.
Sonic Labs partners with PaintSwap to launch an NFT marketplace for trading shares of the $130M S token airdrop. The platform functions as a futures market for speculating on S token value as unlocks progress.
Airdrops πͺ
WalletConnect announces the Season 1 WalletConnect Token (WCT) airdrop eligibility checker will be live in 8 days.
Usual launches $USUAL as the Pills Campaign ends in late November. Airdrop claims begin mid-December, with USD0++ holders earning $USUAL post-TGE. Staking will offer 10% of new $USUAL and governance benefits.
Morph launches Testnet points claiming and Zoo Season 2 on mainnet. Earn points by bridging ETH or spending gas. Use Bitget Wallet for a 1.2x multiplier. Early and quality participation increases rewards.
MetaMask is now WalletConnect Certified, a golden badge will ow be displayed on WalletGuide.
Layer3 offers over $500,000 in rewards through year-end, featuring daily staking rewards, weekend races, and activity-based Minidrops for new and returning users.
Infinex distributes delayed Season 2 $ENA airdrop rewards, compensating users with a 15% bonus for the delay, while also rewarding "OG Real Yield Maxi" badge holders.
Story introduces three new testnet badges: Spotlight, Impossible Finance, and SNGLR. Users can mint badges by completing tasks such as connecting wallets, staking TIDIA, and engaging with specific platforms.
Save (formerly Solend) announces the final step in its rebrand, converting SLND to SAVE. SLND holders will receive a 1:1 conversion plus a 15% SEND mdrop, aligning incentives with long-term supporters while introducing the Save ecosystem on Sui.
Morpho enables $MORPHO transfers. Ethereum $MORPHO must be wrapped via the Morpho App, while Base $MORPHO is already transferable.
mETH Protocol launches $COOK Feast (Nov 21βFeb 16), offering 200 $cmETH rewards for $COOK locks on Mantle. Rewards scale with lock duration, calculated via daily snapshots, and are claimable post-event. $cmETH supports yields across multiple protocols.
Sky Ecosystem offers early USDS users on Solana over 500,000 USDS in weekly rewards across DeFi protocols like Kamino Finance, Save Finance, Drift Protocol, Wormhole, and Jito.
Farms π§π»βπΎ
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