Last Week in DeFi - QuickSwap Bonds Live, Liquity Introduces Desktop Frontend, LSDfi Apollo Launching on Neutron, Kamino Points Coming, and More...

Recap: Week of Dec 4th

Launches 🚀

• Gyroscope launches GYD, a dollar-pegged stablecoin backed by reserve assets, and features an algorithmic mechanism to keep its price pegged to $1. Users can now mint GYD or provide liquidity to GYD pools.

• Crypto Volatility Index launches CVI V4, introducing new features such as the Hedged Theta Vault, a ~3x stretched version of the CVI, borrower leverage, etc.

• Aevo launches aeUSD, a yield-bearing stables-denominated collateral asset (5% USDC and 95% sDAI) that allows users to earn a 4.75% APY on their exchange margin while trading with 20x leverage.

• QuickSwap launches QuickSwap Bonds on the DEX, a new way for liquidity provision. Users can provide liquidity and receive tokens at a discount that vest over time, represented by a Bond NFT.

• Lending protocol Ethereum Reserve Dollar (ERD) launches the USDE stablecoin, using liquid staking derivatives (LSDs) and blue-chip DeFi tokens as collateral.

• Helium Mobile launches a nationwide plan in the US. with unlimited data, text, and talk that costs $20 a month. Helium Mobile combines the Solana-based IoT project Helium Network and a nationwide 5G network.

• Hashflow DEX launches 2.0. The upgraded version enables Smart Order Routing (SOR), improved UX, and Solana expansion.

• Cross-chai yield protocol Clip launches on Linea L2 with its first product available - automated income vault.

• Hourglass, a liquid staking protocol, is live on Blast L2. Hourblast launches two time-bound tokens, blastETH & blastUSD, to increase capital efficiency on Blast.

• Perp DEX LogX launches on Mantle L2 with Log Points and Airdrop rewards program live for traders and LPs.

• Mantle L2 launches two products: Mantle LSP and mETH. Mantle LSP is a liquid staking protocol that enables users to stake ETH for mETH and earn rewards.

• Obol Mainnet Live

  Obol launched Mainnet Open Beta with three products available: Mainnet DV Launchpad, Obol SDK, and Obol Splits.

• StarkDefi on Starknet
  StarkDeFi launches an AMM on Starknet Mainnet, with other features coming soon: Farm, Launchpad, Quest, etc.

• Fore on Arbitrum
  Fore Protocol launches on Arbitrum mainnet. Fore allows anyone to create prediction markets on any event, participate in markets, validate outcomes, and earn rewards for their activities.

• Botanix Testnet
  Botanix, the first EVM equivalent L2 on Bitcoin & powered by Spiderchain, launches a testnet.

Updates 🚩

• Liquity introduces IApps (local apps), a self-ran private frontend solution that offers regulatory compliance, better security, faster loading, and update policy.

• Safe introduces RecoveryHub, a marketplace of options in Safe Wallet to set up account recovery, in collaboration with third-party recovery service providers.

• Bridging protocol Connext launches the Bacco Network Upgrade. The upgrade reduces the operational cost of the network and allows Connext to expand to new chains & L2s rapidly.

• Thorchain has disabled impermanent loss protection (ILP) for all LP positions to unbounded potential liability on the Reserves. LPs are expected to accept more rewards and potential risks of the IL.

• Kava 15 upgrade is live. K15 is a major upgrade to Kava’s economic model, with the KAVA inflation rate to be permanently reduced to zero on Jan 1st, 2024.

• Frax Finance launches Fraxchain testnet. Users can now get test frxETH and bridge them to the Fraxchain testnet.

• Wormhole Connect Live on Jupiter Bridge
  Jupiter launches a cross-chain bridge powered by Wormhole. Users can transfer ETH, WETH, or WBTC from Ethereum to Solana with 0 slippage.

• Kamino integrates with Moongate, enabling EVM users to access Kamino Lend & Liquidity vaults straight from Metamask.

• DEX aggregator Matcha now supports Cross-chain swaps, enabling token swaps across 7 chains and aggregated liquidity across 100+ DEXs

• Solana explorer SolanaFM launches the Quantum upgrade with new features such as Transaction Headers, RPC Multiplexer, and Advanced Transaction Filters.

• Aave DAO proposes to increase the GHO borrow rate from 5.35% APR to 6.35% APR to support the GHO peg restoration and align borrowing costs with market rates.

• Inverse Finance launches Accelerated Leverage Engine (ALE) on most FiRM markets. ALE allows a user to leverage his deposit by flash minting the required amount of DOLA to buy extra collateral via an exchange proxy and then borrowing from his escrow to repay and burn the minted amount.

• Toros Finance goes live on Arbitrum, integrating swETH from Swell to launch the delta-neutral swETH-USDC pool.

• Derivatives protocol Aevo launches Spot Swaps, allowing users to convert between ETH, USDC, USDC, and WBTC within Aevo.

Hacks 👾

• Platypus Hackers Acquitted by French Court
  The hackers from the February 2023 hack of Platypus Finance for $8.5 million have been cleared of criminal charges by a French court, which found that their use of a flawed smart contract did not constitute fraud.

Upcoming ⏳

• Solana-based lending protocol marginfi plans to launch YBX, a LST-backed stablecoin that will earn Solana staking yield (~8%), MEV capture (LSTs using Jito's MEV client), and lending yield (in marginfi).

• ApeCoin DAO proposes to develop ApeChain using Arbitrum Orbit chain technology and AnyTrust technology, positioning APE as the native gas token.

• Aave DAO voted against a temp check proposal that will allocate stablecoins from the Aave Treasury into Maple Finance’s cash management pool to earn the risk-free rate on-chain.

• The Worldcoin Foundation launched a new grants program for developers while outlining plans to decentralize the network.

• Immutable partners with Merit Circle DAO. The Beam chain by Maerit Circle is an Avalanche Subnet and will expand to Immutable zkEVM.

• Trident Digital proposes to add the pyUSD/USDC pool to Curve’s Gauge Controller and mentions that the company will use incentives to drive liquidity. pyUSD is a stablecoin issued by PayPal and Paxos.

• Syntehtix founder Kain proposes to end SNX inflation. If the proposal gets implemented, inflation will be reduced to zero in the claim week following the vote.

• Evmos DAO proposes introducing a burning of fees on Evmos to reduce the circulating supply of Evmos tokens.

• Stablecoin project Gyroscope plans to launch mainnet in ~2 days.

• Balancer AMM announces the V3 upgrade, which will introduce new features, pool types, and tooling.

• Cosmos-based Osmosis DEX and lending protocol UC Chain (fka. Umee) propose a merger. If approved, the process will begin with integrating UX Chain’s codebase into Osmosis Chain, combining their capabilities and total value locked.

• Mars Protocol proposes migrating V2 to Neutron with a set of mutual commitments.

• Gearbox will launch V3 soon with margin trading, new assets, L2 possible deployments, better organic rates, etc.

• Lyra DAO is voting on the V2 economics, including plans for ecosystem incentives, protocol fees, and rollup fees.

• BadgerDAO hints on upcoming 2.0.

• Proposal: CowSwap Solver Computed Fees
  CoW DAO proposes to replace CoW Protocol's current fees with network and protocol fees and asks solvers to collect both.

• Apollo on Neutron
  Apollo DAO, a protocol focusing on LSDfi on Cosmos, will launch a new ETH (wstETH/ETH LP) Vault for Neutron.

Airdrops 🪂

• Solana liquid staking protocol Jito opened the airdrop claim window on Dec 7th, 2023. Eligible users can now claim their JTO tokens for 18 months, starting on the Token Generation Date.

• Premia launched the Blue Season campaign. Programs of the campaign include Blue SZN on Galxe, GMX Recruit quest, GMX vault ARB incentives on Premia, and a Trading Competition (Dec 8).

• Rhino Announces New Token
  Rhino announces a new token RHINO and plans to migrate the current token DVF to RHINO, implement a Buy and Burn Mechanism, distribute fees to stakers, and relaunch the token with enhanced utilities.

• Kamino Points
  Solana-based Kamino Finance will launch a points system. Farming/trading actions on Kamino are already being tracked.

• Extension forArbitrum STIP

  Arbitrum DAO approved the proposal to extend the deadlines for protocols in both STIP and the Backfund proposal.

• Starknet to Distribute Airdrop
  Staknet Foundation plans to distribute the token to certain users/contributors for past activity at some point, and “no actions or activity now can impact eligibility in any way.”

Farms 🧑🏻‍🌾

• F(x) protocol’s fETH/ETH/xETH pool on Curve Arbitrum now has CRV rewards live, providing a boosted APR.

• Stella launches a new leveraged LST strategy for wstETH. Users can access the strategy with 10x leverage and earn a max APR of 181.90% for wstETH (28 Mar 24).

• Sommelier launches the Turbo stETH vault. stETH holders can now leverage their assets in the vault, and the vault covers all gas fees on its rebalances.

• crvUSD pool on Pendle now offers +32% APY with bribes from Curve and PENDLE emissions.

• Alphanonce launches a new borrower pool on Clearpool. Lenders can earn a 9.23% APR with 5% additional rewards in OP.

• Stakewise launches a new farm osETH-rETH on Curve, allowing users to earn staking rewards from RocketPool and StakeWise, trading fees, and $SWISE incentives.

• Solana staking yield protocol Super Stake Sol now supports bSOL from SolBlaze, allowing users to earn on bSOL with leverage and boosted rewards in BLZE.

• Lending protocol Delta Prime now offers ~21% yield plus ~6.6% incentives on USDC & USDT farms on Avalanche and Arbitrum.

• New AAVE incentives (~6000 USD) are live for the GHO-USDC vault on Range Protocol, enabling ~210% APR for LPs.

• Pendle Farms
  Pendle offers two-digit APRs on RWA/Stables/LSD farms (some require boosting)

Today in DeFi Premium includes early looks at promising projects, yield farming tips, and proper research to help you get the most out of DeFi.

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• High Yield Staking on Avalanche

• No Fee Swaps with Airdrop

• Upcoming Airdrop on Solana

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