Last Week in DeFi - multiBTC Live, SBF Arrested, Ren to Shut Down 1.0, and More...

Product Launches 🚀

• Multichain multiBTC Live
  Multichain launches multiBTC and a BTC bridge. Meanwhile, Curve launches a multiBTC/WBTC/sBTC pool and launched a proposal vote for adding liquidity incentives to the pool.

• Yearn veYFI Live
  Yearn launched the staking UI for veYFI. Previously, users can take part in governance using YFI, and going forward veYFI will be the only governance token on Yearn.

• CVI CVOL Live
  Crypto VIX protocol CVI Finance launches a new crypto volatility index product CVOL. Traders can use CVOL to gain insight into the expected volatility of the crypto market and develop strategies to hedge against price fluctuations or speculate on the direction of the index.

• Oasys Mainnet Live
  Validated by two leading gaming companies SEGA and Ubisoft, gaming-optimized L1 Oasys launches its mainnet and lists the OAS token on five major CEXs.

• Maple 2.0 Live
  After the borrower default, Maple released a new version focusing on diversifying borrowers and improving risk management parameters.

• Contango Live on Arbitrum
  Options protocol Contango launches beta on Arbitrum, providing 3.5x leverage on ETH pairs, and 10x leverage on stable vs stable pairs.

• Phi Live on Polygon
  Phi.xyz, a metaverse project built around ENS & wallet activities, launches Phi Land & Phi Quest on Polygon, allowing users to create lands and explore quests of projects.

• TempleDAO RAMOS Live
  TempleDAO launches a new market-making mechanic RAMOS. Through RAMOS, token holders’ rewards will automatically accrue to the TEMPLE token price through the Treasury Price Index (TPI).

• Rage Trade GLP Vaults Live
  Arbitrum-based ETH perp protocol Rage Trade launched Delta-Neutral GLP vaults and the vaults are at capacity as of writing. The team plans to increase the deposit cap within the next few weeks.

• Quicksilver Live
  Cosmos-based liquid staking chain Quicksilver went live. The support for Cosmos hub coming on Dec 22 will allow users to stake Atom and mint qAtom.

• CowSwap Limit Orders
  DEX aggregator Cowswap now enables limit orders to traders.

• zkLend Artemis Testnet Live
  StarkNet-based lending protocol zkLend launches public testnet of Artemis, zkLend’s lending interface for traders to test out lending/borrowing on StarkNet.

Project Updates 🚩

• SBF Arrested
  SBF has been arrested in the Bahamas the day before appearing before Congress. Reports say the US is likely to request extradition.

• Magic Eden Supports Polygon
  NFT marketplace Magic Eden now supports buy/sell/mint Polygon NFTs.

• MetaMask x PayPal
  The PayPal MetaMask integration enables buying ETH from within the MetaMask wallet using PayPal. Starting with selected users, PayPal will roll out the functionality to all eligible customers in the coming weeks.

• Perpetual Protocol Lazy River 2.0
  Perpetual protocol launches USDC fee sharing (Lazy River 2.0), and a portion of the protocol's revenue generated from trading fees will be distributed to vePERP holders.

• MakerDAO x GnosisDAO
  MakerDAO and GnosisDAO form a strategic partnership. MakerDAO has onboarded GNO as a new collateral type, and GnosisDAO will utilize the available debt ceiling for borrowing DAI against GNO from its treasury and mint up to 30m DAI to fund the Gnosis ecosystem.

• Maple Loans Update
  Auros, a borrower on Maple that was affected by the FTX bankruptcy, has made a mutual decision with underwriter M11 Credit to allow the loan to lapse to overdue. Based on the financial position of Auros, even without a successful restructure, they say they should be able to recover a large majority of the assets for liquidity providers.

Governance Highlights 📝

• Executed: Maker Key Deployments
  Maker executed a bunch of key proposals, including the DSR Savings increase to 1%, GNO onboarding, and renBTC-A offboarding, among other changes.

• Passed: Maker to Fund RWA
  MakerDAO passed the executive vote and will deploy four vaults to fund investments in real-world assets (RWA), originated by BlockTower and issued on-chain through Centrifuge.

• Voting: Funding Ren 2.0
  Ren is voting on setting up a Ren Foundation and minting new Ren tokens to it, such that the Foundation can fund Ren 2.0 development. The 200m Ren mint is the leading option as of writing.

• Voting: Increase Sushi Kanpai Payout Ratio
  Sushiswap is running a signal vote to produce a signal on whether to redirect 100% of the Sushi fees redirect to the Kanpai Treasury for 1-year.

• Voting: Uniswap Governance Process Change
  Uniswap is voting to make two major changes to the current process. The first is to replace the first Snapshot poll with a formal RFC (Request for Comment), second is to increase the quorum for the remaining Snapshot poll to 10 million UNI.

Upcoming ⏳

• Ren to Shut Down 1.0
  Ren protocol is likely to imminently shut down 1.0. Since the compatibility between 1.0 and 2.0 cannot be guaranteed, holders of Ren assets should bridge back to native chains ASAP.

• Sturdy Token & Airdrop
  Lending protocol Sturdy announces its token STRDY and airdrop for eligible users. Sturdy is also launching a revamped UI for V1 on the 20th.

• Arrakis V2 and PALM
  Uni LP management protocol Arrakis will launch V2 with new features such as Multiple Liquidity Positions, Cross-Fee Tier, Reduced IL, etc. Arrakis will also launch PALM to offer a Uni market-based mechanism for protocols to acquire liquidity.

• Alpaca 2.0
  BnB-based leveraged lending protocol Alpaca announces 2.0 with upcoming features including Over-collateralized lending, Cross-margin for borrowing and LYF, and Multiple interest rates models, etc.

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