Last Week in DeFi - Perennial Live, Lodestar Exploit, Maple 2.0, and More...

Recap: Week of Dec. 5th

Product Launches 🚀

• Perennial Live
  Derivatives protocol Perennial is now live on the Ethereum mainnet. Perennial offers infrastructure for derivative markets, with V1 currently supporting Long-ETH, Short-ETH, and Long-Squeeth markets.

• Tessera Live
  Previously Fractional Art, Tessera is now live on Ethereum, enabling shared ownership and governance of NFTs.

• Numoen Live on Arbitrum
  Options AMM Numoen is live on Arbitrum, allowing users to trade options or provide liquidity for options pools (ETH/USDC, DPX/ETH).

• Osmosis Stableswap
  Osmosis launches the V13 upgrade with a stableswap, enabling traders to swap large amounts of stablecoins with minimum price impact.

• Compound Extensions Live
  Compound releases Extensions for its V3 users. Extensions are a series of add-on features to enhance users’ experience, including Advance Transactions, Position Migrator, Position Management (by DeFi Saver), etc.

• InsureDAO Audited Code Coverage
  InsureDAO offers insurance for audited protocol. Protocols that have finished one audit can apply to get security assurance with 2% premiums.

• Nostra Alpha Live on StarkNet
  Lending protocol Nostra launches alpha (with deposit limit) on StarkNet mainnet, enabling money markets with low tx costs on StarkNet.

• rwa.xyz Live
  rwa.xyz, an analytics platform for real-world assets, is now live. The site allows users to analyze protocols investing in RWA by making RWA discoverable, with standardized data so that assets can be filtered and compared against each other.

Project Updates 🚩

• DeFi Kingdoms, LayerZero on Klaytn
  Previously on Harmony, DeFi Kingdomes launched Serendale 2.0 on Klaytn L1. Interoperability protocol LayerZero is also live on Klaytn.

• Gnosis Chain Merge Completed
  Gnosis chain has completed its Merge upgrade and transitioned from PoA to PoS.

• Chainlink Staking Live
  Chainlink launches staking v0.1 to eligible members for the early access phase. On Dec. 8th staking will be available to the public.

• ApeCoin Staking Live
  APE staking went live and started accruing rewards on the 12th.

• Axelar Supports Arbitrum
  Cross-chain protocol Axelar now supports Arbitrum.

• Waves Power Protocol
  Waves team announces Power Protocol, a new DAO governance architecture that will launch in January 2023 and will come with an airdrop of the protocol token POWER.

• Aave Acquired Sonar
  Aave has acquired Sonar, a mobile-focused metaverse project. Sonar will be integrated with Lens to improve the social experience with NFT trading & collecting.

• Decentraland Lending
  Decentraland enables renting systems in its marketplace, allowing LAND owners to earn rentals and tenants to rent LAND to deploy experiences without owning LAND in Genesis City.

Governance Highlights 📝

• Proposal: Sushiswap x Reliquary
  Byte Masons proposed to assist with replacing the MasterChef emissions management system with Reliquary. Reliquary would introduce maturity tranches that would increase rewards for long-term LPs based on the length of time they have provided liquidity.

• Proposal: 1inch Staking Pods
  1inch community proposes Staking Pod mechanics for the token. Stakers will receive st1INCH and boosted governance dependent on their lock period, 50% of protocol revenue, and the ability to deploy permissionless delegation pods.

Hacks/Issues 👾

• Lodestar Exploit
  Arbitrum-based lending protocol Lodestar was exploited and lost ~$6.5m in deposits. The attacker manipulated the exchange rate of plvGLP and used it as collateral to borrow/drain all available liquidity.

• Amber Group Financial Problems
  Amber Group, an Asia crypto firm, seems to have liquidity problems according to on-chain analysis. Amber’s asset management platform WhaleFin and CeDeFi lending protocol Clearpool are the two related firms/borrowers that might be affected by Amber’s shortage of funds. (source: rwa.xyz)

• Maple Cuts Orthogonal
  Orthogonal Trading, a crypto firm that has funds stuck on FTX, and is also a significant borrower on lending protocol Maple Finance, has defaulted on eight loans totaling $36 million on Maple.
  Creditor M11 Credit issued a default notice to Orthogonal for its loans, while Maple severed all ties with Orthogonal for misrepresenting its financial position.

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