Last Week in DeFi - Nostra UNO Stablecoin, DeFi Saver crvUSD Auto-Payback, Zerion L2, Napier Points, and more....
Recap: Week of Mar 18th
Launches π
f(x) Protocol launched rUSD, a stablecoin backed by LRTs. Users can mint rUSD using Ether.fi eETH and deposit rUSD into stability pools to earn LRT yield, FXN incentives, ~4x EigenLayer points, and ~2x EtherFi points.
Nostra launched UNO, a Starknet-native stablecoin backed by USDC. Users can buy and sell UNO for 1 USDC for a 0.10% fee, lend/borrow UNO, and provide liquidity to UNO pools on Nostra for boosted points.
Updates π°
DeFi Saver introduced a new automation option for cruvUSD lending: Hard liquidation protection. The option allows users to set a trigger Health Ratio value and the amount of crvUSD to be automatically paid back from their EOA wallets.
Predy Finance, an Intent-based DEX on Arbitrum, upgraded to v6.1. Predy V6.1 enables Take Profit Order & Stop Loss Order features for users.
LlamaNodes V2 is live. V2 comes with universal MEV protection, new Ethereum clients (Reth), and improved premium RPCs & APIs.
0xmons, the founder of sudoswap, unveils the GitHub repo for a fully on-chain NFT orderbook on top of sudoswap pools. A UI is coming soon.
BlackRock launched a tokenized digital asset fund and deposited $100m USDC on the Ethereum Network to back the fund.
Yearn launched V3 Vaults on Ethereum with more vaults and strategies coming to V3.
IndexCoop launched ETH2x and BTC2x, new Layer 2 leveraged tokens on Aave V3 to replace IndexCoopβs legacy FLI tokens (TH2x-FLI and BTC2x FLI).
Alchemix is live on Arbitrum. Users can now take a cross-chain loan or provide liquidity to alAsset (alUSD & alETH) pools on Ramses. Alchemix will incentivize pools with ALCX rewards.
Jupiter DEX launched the Intuitive Launchpool Model (ILM), a modeling tool to allow any project to design a launch pool that fits their specific needs and requirements.
Gnosis Chain launched uRamp, an on & off ramping tool that allows users to exchange euros for EURe stablecoin, and access ERC20 tokens across EVM chains.
Matcha Auto gasless swaps are live on Optimism. Users can use Matcha Auto mode to swap without ETH in their wallets.
CatalystAMM launched Tiger Testnet, the final testnet before Catalyst Mainnet. Tiger is live on Optimism, Arbitrum, and Ethereum Sepolia.
Issues π¨
Dolomite, an Arbitrum-based margin trading and lending protocol, was exploited and lost $1.8M in USDC. The exploit impacted Dolomite's old contracts on Ethereum Mainnet, which users should revoke from. Dolomiteβs products on Arbitrum remain unaffected.
ParaSwap discovered a vulnerability affecting V6 users. The team has paused V6 API and secured users' funds with white hat hackers' help. ParaSwap also urged users to revoke permission to the V6 contracts while the team investigates.
Upcoming β³
Frax Finance founder published Frax Singularity Roadmap Part 1. The proposed changes include L3s of Fraxtal, veFXS revenue share & fee switch, Frax Liquidity Engine (FLE), and Frax Asset improvements.
Mantle Network will enable users to stake MNT and earn Ethena shards.
Gotchichain, a Layer 3 rollup dedicated to the Aavegotchi on-chain game, will use Base L2 for settlement. Gotchichain is set to launch in Q2.
IndexCoop introduces Product Revenue Tokens (PRTs), a new way for early depositors to own a piece of a new product's revenue stream. The first product to go through a pre-sale process will be a High Yield ETH Index (hyETH).
Inverse community proposed to raise the current DBR auction ceiling by 400% to retire bad DOLA debt more quickly.
PancakeSwap will launch V4 to Ethereum and BnB Chain in Q3. V4 will enable Hooks, Custom Pool Types & Donate, Gas Optimization via Singleton & Flash Accounting, and other new features.
MakerDAO founder proposed changes for Launch Season (aka Endgame Phase 1), including a potential deployment of a Direct Deposit Module (D3M) that would inject Dai liquidity into Morpho's sUSDe/DAI and USDe/DAI markets.
Mask Network will launch staking programs and enable stakers to participants to earn additional tokens.
Light is a cross-EVM wallet that allows users to interact with any supported EVM chains (L2/L3s) using one wallet without worrying about bridging or refueling gas. Users can now get on the waitlist for private beta access.
Zerion Wallet is building a Layer 2 network called the ZERO Network, with plans to launch in late Q2 or early Q3 this year.
Airdrops πͺ
Velar, a DeFi liquidity protocol on Bitcoin, introduced Velar Points. Users can provide liquidity to Velar pools and stake LP tokens to earn points.
Gyroscope launched Rehype liquidity pools and introduced the SPIN points program. Users can earn SPIN by holding GYD, LPing GYD, and LPing select LST & Rehype pools.
DFlow Daily XP is live for early users. Users need an invite code to pre-fund their accounts and earn Daily XP.
Merit, Aaveβs 90-day program with $2.1m in ETH and 2.9m GHO in rewards, is live. 280 WETH was distributed to WETH borrowers, and an airdrop to GHO borrowers and stakers is scheduled for next week.
Ether.fi launched the Eligibility Checker, and claims will go live on Mar 18th at 7 am EST.
Cyber Connect launched Staking on Cyber L2. Users can stake to share the 1M CYBER reward pool and receive a series of Ecosystem Airdrops.
Mint Blockchain launched MintPool, allowing users to stake their MintIDs to secure MINT airdrop and earn additional Mint Energy (ME) rewards during the Mint Forest event.
Napier introduced Napier Points, targeting holders of veCRV and other wrapped tokens or bribery markets like Convex, Yearn, StakeDAO, etc.
Farms π§π»βπΎ
Avalanche launched Phase 1 of Memecoin Rush, a liquidity mining incentive program for the community coin ecosystem. Phase one provides $1M incentives in AVAX for LPs of select tokens on SteakHut and Trader Joe.
Aevo launched the Trading & Staking Incentive Program. Users can trade on Aevo or stake AEVO/RBN to earn more AEVO for 4 months. $AEVO rewards will be claimable from April 10, 2024 onward.
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