Last Week in DeFi - MYS Live on Arbitrum, Gnosis karpatkey Spinoff, Gearbox Leveraged Restaking, High-Yield Farms, and more....
Recap: Week of Feb 19th
Launches 🚀
Across Protocol V3 is live. V3 enables new features such as a cross-chain intents settlement layer, cross-chain bridge hooks for user intents, and upgrades to the Across Bridge.
Sushiswap launched Sushi Bonds. Sushi Bonds provides an alternative solution to traditional LPing. LPs get discounted tokens and projects get sticky liquidity.
Prisma Finance’s PrismaLRT is live on Ethereum Mainnet. Users can mint ULTRA stablecoin using ether.fi weETH.
Ethena, a stablecoin project, is live on the Ethereum mainnet with its Shard Campaign (points program) available. Shards will be shared for LPs buying and locking raw USDe.
Abracadabra introduced V3 and MIMSwap. V3 now has an improved and reimagined front end that gives users access to MIM and other products. MIMSwap is a stable swap AMM, natively on Blast L2 testent.
Tranchess launched V3, unlocking LST utility with two new use cases: Turbo Yield ETH (turYETH) and Stable Yield ETH (staYETH).
Dymension embedded AMM is live and for each swap, a 0.3% fee is charged.
Lyra introduces Coinbase Cloud-powered Lyra Wallet, allowing users to create a wallet with email, Google, and Apple accounts.
MYX Finance is live on Arbitrum. MYX is a derivatives protocol with a Matching Pool Mechanism (MPM), offering performance comparable to CEX.
Hacks/Issues 🚨
Blueberry Protocol experienced an exploit and the protocol is now paused. The total validator payment (loss) is 91 ETH. The team is getting in touch and aiming for a full repayment to users as the goal.
Gauntlet, an independent risk manager to Aave, is leaving Aave as the team "found it difficult to navigate the inconsistent guidelines and unwritten objectives" of Aave's "largest stakeholders."
Aevo suffered downtime on Feb 17th from 14.18 to 16.20 UTC. The incident has been solved and the team has shared details on reimbursements in Discord.
Updates 📰
Starknet launched StarkGate 2.0, enabling one-click withdrawal, withdrawal limit, and fast withdrawals.
Avantis introduced native native bridging and swapping powered by Li.fi protocol. Avantis now allows users to bridge funds to Base, or swap tokens on Base for USDC and ETH.
Bracket Labs launched the GMX market on Passage, allowing users to long or short GMX volatility on Passage.
Osmosis DEX now supports Wrapped Bitcoin ($WBTC).
Matcha launched Matcha Auto on Base, enabling Gasless swaps, Faster trade confirmations, and MEV protection.
Filecoin announced integration with Solana. By leveraging Filecoin's decentralized storage capabilities, Solana aims to optimize block history accessibility, reinforcing its infrastructure reliability.
ZKX Pro Trade, an advanced trading terminal tailored for traders focusing on arbitrage, sub-second speed & APIs, is live on Starknet mainnet.
Upcoming ⏳
Cosmos fork AtomOne is set to launch mainnet next Tuesday, February 27th.
Opyn v1.0.2 upgrade will launch with more collateral and more combinations.
dYdX proposed to upgrade the dYdX Chain to version 4.0, encompassing new features and improvements, focusing on Order Book Features, Risk and Safety Improvements, and enhancements related to the Cosmos ecosystem.
Dymension community proposed to launch AMM incentives and stream DYM rewards to LPs to aggregate liquidity.
TLX, a leveraged tokens protocol powered by Synthetix, will launch on Optimism. TLX will support 50+ assets and allow for up to 20x leverage.
Yearn proposes using the yETH protocol's design to create new, self-governing pools for various assets, called yPools.
The Starknet DeFi Spring program has begun. The Foundation distributed 40M STRK to participating DeFi protocols in the program.
Gnosis DAO is discussing the karpatkey DAO spin-off and KPK token launch. karpatkey has led the active DAO treasury management space after becoming GnosisDAO’s treasury manager.
Uniswap v4's launch, featuring ‘hooks’, is tentatively set for Q3 2024.
Sturdy approved two proposals: one to make STRDY transferable and the other to add liquidity by allocating 1.5M $STRDY to a Uniswap V3 pool.
Aura DAO approved to ratify Hyperlock as its first DAO franchise.
Tron DAO announced its Bitcoin layer 2 solution and roadmap.
Euler released a whitepaper for the upcoming V2. V2 will be a modular lending platform that provides customization and liquidity interconnection.
Uniswap Foundation proposed to upgrade Uniswap Protocol Governance. The upgrade would reward UNI holders who have staked and delegated their tokens.
Airdrops🪂
Zircuit enabled staking. Users can stake their LSTs/LRTs and earn Zircuit Points.
Jupiter will distribute $100k worth of rewards evenly for the top 500 Solana Referral leaderboard participants.
Kelp DAO introduced KEP (Kelp Earned Points), a token representation of Kelp's
EigenLayer points. KEP allows restakers to transfer and trade their earned points and participate in DeFi.
Optimism announced Airdrop #4, allocating 10M+ OP to over 22k unique addresses of creators and artists who have created NFT collections on the Superchain.
Vertex introduced Vertex VERTerans, a task campaign that allows users to earn rewards based on their XP at the end of each sprint.
Avantis launched trade-to-earn, a 2-week trading campaign with a prize pool of 15k USDC distributed to all participants.
Gearbox enabled leveraged EigenLayer restaking, allowing users to earn up to 9.5x EIGEN points and 19X Ether.fi points on Gearbox.
STRK airdrop will be live and available to claim on Feb 20th at 12pm UTC.
Linea L2 will launch Linea Park, a gaming-focused campaign, starting Feb 20th until April 2nd, 2024. Linea Park quests allow users to earn Linea LXP while exploring gaming projects.
Magic Eden will launch the Mint to Earn program, allowing users to earn Diamonds by supporting their favorite creators on Magic Eden’s Ethereum Launchpad.
Frax Finance will take a snapshot for the airdrop of $FXTL points to veFXS stakers based on veFXS balance on March 6th (the week after ETHDenver).
GammaSwap launched Referrals for its point program.
Farms 🧑🏻🌾
Range Protocol USDY vaults earn boosted yield + Ondo points.
Solv offers good native yield plus ARB rewards on USDT.
Gearbox USDC and ETH lending offer good rates.
Gains Network gTrade stable vaults offer good APYs.
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