Last Week in DeFi - Penpie Live on Sonic, Truemarkets Live on Base, Berachain Airdrop Claim Coming Soon, and more...
Recap of 1st week of March
Launches 🚀
Bullet has launched its testnet, as Solana’s first network extension for trading, offering real-time execution, built-in trading primitives, and zero-knowledge proofs for transparency. With 2ms execution speed, it claims to outperform CEXs while maintaining decentralization. ZEX token holders will receive a 1:1 migration to Bullet upon mainnet launch.
Upcoming plans include the Bullet Trading Cup with $100K in rewards and the launch of a scalable perps platform.
Biconomy introduced its new application layer, enabling seamless execution across multiple chains and off-chain services via a single access point. Powered by "Supertransactions," users can sign once to execute complex actions across chains without gas tokens or multiple confirmations. Developers benefit from a unified API, gas sponsorship, and faster deployment.
The decentralized node network ensures secure execution, with the Genesis Mainnet launch set for April 2025.
GMX has launched on Solana, expanding beyond Arbitrum and Avalanche. Users can trade 20+ cryptocurrencies with permissionless perpetual swaps, self-custody, and Chainlink-powered pricing. Liquidity providers can mint GLV with SOL or USDC to earn fees across selected markets.
Truemarkets is now live on @base, offering real-time information aggregation across politics, pop culture, and more. Acting as an onchain oracle, it tracks breaking headlines and integrates real-world data into the Ethereum ecosystem. New markets will be added daily, with community input encouraged.
Berachain launched Bepolia, its canonical testnet mirroring mainnet functionality, including all contracts needed for PoL. Users can connect via the public RPC, track transactions on the Bepolia block explorer, and claim testnet BERA from the faucet. Hub and Honey UIs, along with additional infrastructure providers, will be deployed in the coming weeks.
Movement Network's Public Mainnet Beta is live, introducing a Move-based blockchain that settles to Ethereum with enhanced execution safety. The ecosystem includes liquid staking, NFTs, swapping, lending, and yield protocols. A LayerZero-powered bridge supports asset transfers, and developers can access endpoints, docs, and training resources.
Penpie is now live on Sonic Labs, integrating Pendle’s vePENDLE strategy with over 32% of total vePENDLE voting power. Sonic users can access enhanced yield opportunities without locking $PENDLE, benefiting from Sonic’s high-speed, EVM-compatible environment.
Updates 📰
Compound has launched Morpho-powered vaults on Polygon, allocating $3M in COMP and POL incentives to drive growth. The vaults, owned by Compound DAO and curated by Gauntlet, allow users to deposit and borrow directly from markets, with a 10% performance fee on yield going to the DAO.
By adopting the Morpho Stack, Compound benefits from faster asset listings, reduced governance overhead, and enhanced efficiency.
Braavos has enabled Bitcoin Lightning payments on Starknet, allowing users to scan Lightning QR codes and pay with STRK, which auto-converts to BTC. The integration is powered by Braavos, supported by Atomiq Labs, and leverages the Lightning Network for seamless transactions.
Infinex has integrated 1inch Fusion, enhancing liquidity and optimizing trade routes for faster and cheaper transactions. Users can now deposit and swap over 1,000 assets across ten chains.
RemusDEX, a fully onchain order book DEX, is now live on Starknet. The platform offers market and limit orders with an embedded charting feature, providing a CEX-like trading experience while maintaining self-custody.
Steakhouse Financial has launched a new opportunity for wstETH holders to earn lending rates while stacking staking rewards. The vault supports $ynETHx as collateral, with potential for more assets privileging wstETH as a liquid buffer. All vaults include appropriate timelocks and Aragon guardians.
Aave has added Circle’s euro stablecoin, EURC, to its Base market, allowing users to borrow or use it as collateral. EURC is MiCA-compliant and redeemable 1:1 for euros.
BOB and Layer3 are launching interactive quests to showcase Bitcoin’s role in DeFi. The initiative aims to educate users through hands-on participation, reinforcing Bitcoin’s growing utility beyond a store of value.
Bungee has enabled chain-abstracted swaps to scUSD on Sonic, offering 0.25% more on each swap. scUSD, a yield-bearing stablecoin by Rings Protocol, can be minted seamlessly with support from Aave and GHO. Users earn Sonic points and additional rewards within the Sonic DeFi ecosystem. Bungee's gasless liquidity marketplace allows one-click cross-chain swaps.
Mezo has launched mUSD, a Bitcoin-backed stablecoin designed to unlock BTC liquidity. mUSD is fully backed by Bitcoin with a 150% system-wide collateral ratio, ensuring a stable 1:1 peg. Users can borrow without minimum payments and benefit from fixed interest rates between 1-5%. Secured by tBTC’s infrastructure, mUSD aims to drive economic activity on Bitcoin. The testnet is live, with a waitlist open for 1% borrow rates.
Resolv Labs has joined the Superstate Industry Council (SIC), collaborating with Superstate and 20 other industry leaders to drive tokenization adoption in financial markets.
Fluid Money Market is now live on @0xPolygon, offering high LTVs, low liquidation penalties, and competitive lending and borrowing rates. At launch, markets include USDC, USDT, ETH, wstETH, and POL, with vaults spanning multiple asset pairs. Over 1.5M $POL incentives will be distributed for lending, with Fluid’s DEX integration coming soon for enhanced capital efficiency.
Jumper now supports Ink Chain, enabling seamless bridging of USDT, USDC, wETH, and more to and from @inkonchain.
Pell Network revealed $PELL tokenomics, focusing on sustainability, utility, and long-term growth. The model includes restaking incentives, ecosystem governance, and community rewards.
Wormhole has integrated Circle's CCTP V2, enabling USDC transfers across Avalanche, Base, and Ethereum with reduced finality time. The update supports solver rebalancing for Wormhole Settlement and expands options for multichain development.
Wormhole Connect also streamlines CCTP V2 integrations, allowing developers to enable direct USDC transfers in their applications, with additional chain support planned.
Sky has introduced token rewards for supplying USDS, offering SKY governance tokens, Chronicle Labs points, and upcoming SPK rewards from SparkFi, along with more Sky Star tokens. Meanwhile, Sky Treasury has opened its first claims round for users who migrated DAI or MKR, with a 24-hour window to check eligibility before the next round in March.
RabbitX is now live on Sonic Labs, offering users the opportunity to farm APY, Sonic Points, and Gems. A 2x points boost is available for depositing stablecoins into a vault, with a share of 8,750 RabbitX Gems up for grabs.
YieldNest has welcomed THENA to its Strategic Round, integrating its liquidity model to enhance BNB Chain restaking yields. The partnership improves cross-chain efficiency with lower slippage, higher APYs, and Kernel DAO synergy.
Plans include expanding liquidity pairs, deeper BNB Chain integration, and further alignment with THENA’s liquidity solutions.
Staked lvlUSD is now available on Superform, allowing users to earn yield from its underlying collateral. lvlUSD generates returns through lending on Aave and restaking on Symbiotic, with more integrations planned.
Curve Finance has introduced new crvUSD minting markets with weETH, cbBTC, and LBTC as collateral options.
LayerZero is the official interoperability provider for Movement Network, enabling transfers of MOVE, USDT, USDC, WETH, and WBTC between Ethereum and Movement via the Movement bridge.
Elixir Network is now fully decentralized, allowing users to run validators and earn rewards through its network security program.
PancakeSwap burned 9.58 million $CAKE ($15M) this week, with a net weekly emission of -752K CAKE (-$1.18M), marking a 19% supply reduction. AMM V2 emissions increased by 129% to 333K CAKE, while AMM V3 saw a 34% drop to 574K CAKE.
Berachain opened the first round of Boyco claims, allowing users who deposited into @Dolomite_io or @D2_Finance 30-day markets to claim their $BERA rewards on Royco. Deposits in 90-day markets will unlock on May 6, 2025.
Users can continue earning yield by holding receipt tokens after withdrawal, with swaps required to reclaim initial deposits.
Sui introduced passkey integration, enabling users to create accounts and sign transactions using Face ID, Touch ID, or YubiKey without handling private keys. Passkeys enhance security by preventing phishing and eliminating seed phrases while allowing seamless cross-device access.
Developers benefit from simplified authentication flows, improving Web3 UX and security. Passkey support is now live on Sui Testnet.
Avail Mainnet has reached 105 active validators, marking a significant milestone since launch. The network continues to expand with growing validator participation, strengthening its decentralization and security.
Pell Network is building an Omnichain Decentralized Validated Service (DVS) Network powered by BTC restaking, enhancing capital efficiency and shared security for DeFi applications. Users stake BTC LSTs into a security pool that supports oracles, cross-chain bridges, and other services across multiple blockchains.
Pell is now exploring AI and DeFAI integration, expanding its capabilities while maintaining its core restaking model.
EigenLayer has launched ETH restaking on @okx Earn, allowing users to seamlessly restake their ETH and earn rewards directly through their OKX account.
Osmosis burned ~80,000 OSMO tokens as part of its monthly token burn, permanently reducing the circulating supply. 50% of taker fees collected each month are burned, with over 2.5 million OSMO removed so far.
Hyperlane is now live on @SonicSVM, enabling bridging to the first @solana chain extension. Sonic’s Mainnet Campaign offers 2,400,000 SONIC in rewards for participants.
Solayer integrated @PythNetwork price feeds, enabling real-time, high-fidelity pricing for $LAYER. This upgrade enhances trustless composability, making it easier for DeFi protocols to integrate $LAYER into various use cases.
Issues ⚠️
Hyperliquid addressed concerns over its margin system, emphasizing a first-principles approach to preventing manipulation without compromising decentralization. The updated margining model introduces separate requirements for withdrawals and new positions, ensuring liquidated positions either result in a loss relative to entry price or require a near 20% mark price move for profitable exploits.
The exchange rejects centralized intervention and CEX-style leverage scaling, arguing that robust liquidity and market maker participation will enhance long-term system resilience.
Hyperliquid clarified that there was no protocol exploit or hack regarding the 0xf3f4 user's ETH long position. The user withdrew funds, reducing their margin and triggering liquidation, ultimately securing $1.8M in profit. HLP incurred a $4M loss over the past 24 hours.
A calldata corruption vulnerability in an old version of 1inch Settlement led to an exploit on March 5, 2025, allowing an attacker to overwrite the resolver address and drain funds from market maker TrustedVolumes. The issue stemmed from improper order suffix processing, enabling arbitrary resolver execution. The attacker later negotiated a bounty, returning most of the stolen funds. The 1inch team and security researchers identified the root cause and mitigated further risks.
Gauntlet’s proposal to launch Compound-Morpho lending vaults on @0xPolygon has sparked controversy within @compoundfinance. The plan includes $1.5M in incentives from both Compound and Polygon, aiming to boost Compound’s market share and tech adoption. Gauntlet would serve as Curator, Compound would own the vaults, and Morpho would handle technical implementation. Critics highlight concerns over Gauntlet’s dual role, potential future fees, and perceived efforts to shift Compound’s direction.
Upcoming ⏳
Resupply has outlined its rollout roadmap, with contracts now live but not yet interactive. The system will be fully functional next week, allowing users to deposit collateral and borrow reUSD to farm RSUP. Token emissions, Prisma conversions, and gauge votes will follow, leading up to fee distribution and incentive activation by Week 3. The full launch announcement is expected next week.
Starknet outlined its roadmap for Bitcoin integration, aiming for full decentralization by early 2026. The network will introduce federated and BitVM-powered bridges to bring Bitcoin assets on-chain, enabling native DeFi applications like trading, lending, and staking. Starknet is also launching an incentive program to boost Bitcoin adoption and has partnered with top Bitcoin projects to expand interoperability. Additionally, StarkWare is building BTC and ETH reserves to strengthen ecosystem alignment.
Soneium is integrating blockchain into LINE mini-apps to simplify Web3 access. The platform is relaunching Farm Frens, a viral Telegram farming game, to onboard LINE’s Web2 users. Moonveil is bringing Puffy Match as part of its zk-L2 and AI-driven gaming ecosystem. Pocket Mob, a social strategy RPG by Sonzai Labs, introduces Mafia-style battles within messenger apps, with Respect points leading to potential NFT rewards.
Axelar is integrating with Sui, bringing universal interoperability to the Move-based Layer 1 blockchain. This expansion connects Sui to over 70 chains, enhancing cross-chain accessibility for its ecosystem.
Elys Network outlined its growth since launch and upcoming developments. Liquidity pools and spot trading have driven organic expansion, with daily users increasing nearly 10x and trading volume reaching a $1.2 million peak. Upcoming changes include taker fees to support ELYS buy pressure, reduced swap fees, and a gated PerpDEX launch.
New staking vaults and extended leverage LP will add ATOM, BTC, and ETH. IBC Eureka integration will introduce new liquidity pools, reinforcing sustainable growth.
3Jane introduced its whitepaper, unveiling a capital-efficient money market on Ethereum that enables 0% collateral borrowing. The protocol issues unsecured USDC credit lines to traders, businesses, and AI agents based on verifiable financial proofs rather than onchain collateral. It features a credit underwriting system that evaluates users' DeFi, CEX, and bank assets, along with a slashing mechanism and debt recovery auctions for repayment enforcement. 3Jane aims to expand borrowing power by unlocking future cash flow-based credit.
Corn has adopted USDT0 as its canonical stablecoin, bringing over $140B in liquidity access to BTCFi. USDT0, built on LayerZero's Omnichain Fungible Token standard, enables seamless transfers, efficient lending, and interoperability with Tether’s ecosystem. Backed 1:1 by USDT on Ethereum, it provides deep liquidity and frictionless transactions across supported chains.
Lido has introduced its vision for CSM V2, aiming to scale the module to a double-digit share of Lido stake, enhance participation from independent stakers, and maintain competitive rewards. Updates include performance safeguards, optimized reward structures, and tailored entry pathways to support decentralization while discouraging large operators.
Napier V2 is set to launch on March 14.
Mitosis is launching its first Matrix campaign with Theo Network next week, with full details to be announced soon.
Sui has partnered with Merkle Science to enhance security with real-time transaction monitoring, proactive risk assessment, and stronger compliance frameworks for DeFi and NFTs.
Solv Protocol is launching SolvBTC.BNB on March 12 at 12 PM UTC, a yield-bearing Bitcoin liquid staking token that enables BTC holders to earn rewards from Binance Launchpools, Megadrops, and top BNB Chain DeFi protocols.
Users can access BTC-denominated yields, DeFi incentives, and maximize returns through a structured yield strategy.
Movement is teasing a major announcement for March 10, signaling the beginning of a new chapter. Details remain undisclosed.
MYX Finance is preparing for its $MYX Token Generation Event after a year of rapid growth, becoming the fastest-growing multi-chain perp DEX in 2024 and the top DEX on Linea. Following a $5M strategic funding round, MYX is set to launch with a community-first approach.
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Airdrops 🪂
Berachain's airdrop claim deadline is approaching, with unclaimed social and RFB allocations requiring wallet registration by March 20 at 12 PM EST. The claim site will reopen on March 24 at 10 AM EST.
Eligible users can register their socials at checker.berachain.com and claim tokens at airdrop.berachain.com once the portal is live.
Vest has launched Vest Points, a rewards system tracking user activity within its ecosystem. One million points will be distributed weekly for six months, with users earning points by trading, providing liquidity, and engaging with the platform.
Referrals grant 15% of referred users' points, with links reserved on a first-come, first-served basis. Points are distributed every Wednesday at 10 AM EST.
Nillion's $NIL allocation checker is live, allowing users to verify their token allocations and earned medals. The project introduced Gold (1,000-3,000 tokens) and Diamond (3,000+ tokens) tiers, with personalized social cards for qualifying members. A full breakdown of the ranking criteria was provided, and Nillion hinted at new missions in 90 days.
Pell Network's Epoch 1 airdrop for $PELL goes live on March 13, 2025, at 9:00 UTC, with the first 8 hours exclusive to OKX Wallet users. Participants can import their addresses in advance to ensure a smooth claim process.
Vertex has launched Sonic Fusion: Part Three, allowing users to trade $S, complete quests, and earn points with fast trade execution. The Fusion campaign introduces users to Vertex’s financial instruments, with participation available on Galxe.
Peaq's Get Real Season 1 reward claiming is now live, with 15,000 participants eligible and over 2.1 million $PEAQ allocated to the top 100. Rewards can be claimed until May 9 via Hedgey Finance for both quest and referral incentives.
Shardeum's Phase 1 Airdrop wallet collection is in its final call for offchain contributors. Eligible participants must submit their wallet details before the deadline on March 10, 2025, at 11:59 UTC
AO’s Protocol Pioneers campaign kicks off at March 8, featuring a 5-day smart contract challenge, content rewards, and ecosystem quests. Over 800 $AO is up for grabs, with the campaign running until March 14, concluding with the PI token launch on Pi Day.
Farms 🧑🏻🌾
Spectra has launched a new sUSN pool from Noon Capital with over $100K in liquidity. The pool offers fixed rates on sUSN, leveraged exposure to sUSN yield and Noon Points, and multiple yield streams. Users can earn predictable returns or amplify Noon Points accumulation through yield leverage tools.
The DGI Rewards Program allows users to earn additional APR simply by holding $DGI, with no staking or lockups required. Rewards can be claimed over time, and more details are available on the official page.
Pendle PT markets are now live on Euler Sonic, allowing PT-wstkscUSD and PT-wstkscETH to be used as collateral. Users can explore the new markets on Euler’s platform.
Silo Labs has launched a new PT-wstkscUSD-frxUSD loop in collaboration with Frax, enabling fixed yield looping against frxUSD’s deep liquidity. This marks Frax’s entry into Sonic, positioning frxUSD as a stablecoin contender. The market has $7 million available for borrowing, with Silo Points as additional incentives.
Drift has launched the FuelFlow Vault, allowing users to amplify their airdrop rewards by up to 15x FUEL. The vault optimizes capital allocation, incorporates advanced hedging, and utilizes smart leverage, all with zero performance fees.
Pendle has launched a new aUSDC pool on Sonic Labs, offering additional Sonic Points and yield opportunities. aUSDC, a receipt token for USDC deposits on Aave, earns interest from borrowing and comes with bonus $wS incentives and 8x Sonic Points. Users can LP for boosted yields, buy PT for discounted USDC, or use YT for leveraged yield and point exposure, with incentives starting Thursday at 00:00 UTC.
Abstract has released Week 6 XP earnings. Users can check their rewards at portal.abs.xyz/rewards.
Ethena Labs has introduced USDe as a reward-bearing stable margin collateral on Deribit, allowing users to earn up to 9% APR, paid daily, by holding or trading with USDe. Deribit now supports four new 0-fee spot pairs: BTC/USDe, ETH/USDe, USDe/USDC, and USDe/USDT. Users can earn rewards automatically, with custody managed via Fireblocks, Copper Clearloop, and Zodia Custody.
Pendle has launched new PT markets on Silo Finance, enabling up to 7.7x leveraged yield strategies. Users can now borrow USDC or ETH against PTs, swap for more PTs, and loop their positions. The new markets include PT-wstkscUSD/USDC and PT-wstkscETH/ETH, expanding opportunities for fixed yield and speculation.
Contango has launched a 25,000 $OP incentive program on Optimism for Compound Finance, rewarding long positions on rETH/ETH, wstETH/ETH, ezETH/ETH, eETH/ETH, and rsETH/ETH. Rewards are proportional to open interest, claimable every 8 hours, and eligible for 3x Contango points, which contribute to quarterly $TANGO rewards.
Beefy has launched a new vault for stkscUSD-scUSD, offering 22% APY plus points in collaboration with ICHI and Sonic Labs.
Steakhouse Financial has launched the sUSDS Vault on Morpho Labs on Base, offering USDS rewards for deposits.
Lombard’s LBTC is now live on @AftermathFi, a Sui-based DEX, with an LBTC/suiWBTC liquidity pool. Users can provide liquidity to earn trading fees along with 3x Lombard Lux and DEEP rewards. LBTC holders can bridge from supported chains or stake BTC to mint LBTC on Sui.
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