Last Week in DeFi - Reserve Launches Index DTFs, Timeswap Live on HyperEVM, Kasu Finance Launch, and many more
Launches 🚀
Solv Protocol announces SolvBTC is now live on Concrete, offering BTC holders yield-bearing liquid staking with access to Binance Launchpool, Megadrop, and HODLer rewards without selling their BTC. Powered by Astherus, Lista DAO, Venus Protocol, and PancakeSwap, the strategy enables BTC deposits to generate 8%+ APY through BNB Chain’s top DeFi opportunities.
BTC is used as collateral on Venus, with borrowed BNB converted into slisBNB and asBNB for optimized yield, while a portion is allocated to PancakeSwap liquidity pools.
Time.fun launches a platform for tokenizing time, allowing creators to monetize their availability by offering tradeable minutes. Users can redeem time for DMs, group chats, and soon voice/video calls and auctions. As demand for a creator’s time grows, its value increases, with USDC rewards distributed through dedicated award pools.
Currently, time markets are permissioned, with broader access and features like calls, auctions, and a mobile app set to roll out in the coming weeks.
DIA Oracles go live on Somnia Testnet, bringing trustless price feeds to the high-performance, EVM-compatible Layer 1 blockchain. Optimized for gaming, metaverse, and social dApps, Somnia supports 1M+ TPS with sub-second finality. Developers can now integrate real-time price feeds for BTC, ETH, ARB, USDT, and USDC, enabling advanced DeFi applications such as lending, stablecoins, and DEXs.
Reserve introduces the Reserve Index Protocol, enabling Index DTFs for market or narrative exposure with 1:1 backing, transparent onchain custody, and 24/7 redemption. Launch partners include Bloomberg Indices, CoinDesk Markets, MarketVector, and Virtuals.
Among the indexes is the DeFi Growth Index (DGI), curated by Today in DeFi, which tracks early-stage projects with strong growth potential and established demand.
Sushi launches RP6, its most advanced aggregation upgrade, enhancing swap execution with Universal Bridge Integration, Curve Metapool support, and modular smart contracts. The update auto-stakes and unstakes assets for better pricing, taps into Curve Metapools for deeper liquidity, and introduces RouteProcessor6 for optimized trade routing.
Developers can integrate seamlessly via Sushi’s Swap API, leveraging superior pricing and cross-chain liquidity.
Avantis launches v1.5, introducing new primitives and capital efficiency improvements for crypto and RWA assets on its fully onchain perp DEX. Key updates include a PnL-based perpetual with zero fees until profit, CEX-like volume-based fee discounts, and enhanced liquidity management with separate long/short OI caps.
Traders gain access to 500x leverage, increased profit limits, and optimized UI performance, while LPs benefit from improved risk pricing.
Aave launches its v3.3 upgrade, developed by BGD Labs, introducing enhanced bad debt management and liquidation mechanisms in preparation for the upcoming Umbrella system. Umbrella will replace Aave’s current Safety Module with an automated system, allowing users without borrow positions to stake aTokens, earning rewards while contributing to protocol security.
Skate launches Skate Shuffle on Aptos, enabling one-click interactions with apps like Pendle, Resolv Labs, Lombard Finance, and GMX. Users can spin and earn Ollies by participating at park.skatechain.org/shuffle.
Kasu is now live on Base, offering up to 25% APY through its risk-optimized private credit platform, open to almost all users, including those in the U.S. The platform lends exclusively to top-tier accounting firms and clients in Tier 1 economies, delivering uncorrelated yields that remain stable despite crypto and macro market volatility.
Powered by Apxium, which manages over $2.5 billion in invoices annually with an eight-year zero-loss record, Kasu emphasizes transparency with upcoming risk dashboards and financial tracking. Backed by investors including Woodstock Fund, Morningstar Ventures, and Cypher Capital, Kasu aims to set a new benchmark in DeFi private credit.
Hop launches V3 with Hopper Mode, offering faster trades with ~0.1-second confirmation times and improved pricing. The upgrade is now live and available for users.
Updates 📰
Wormhole introduces Wormhole Settlement, a next-generation suite of intents protocols designed for fast, multichain transfers at institutional scale. Built on Solana and powered by Wormhole and Mayan Finance, the system enables seamless asset transfers across any chain with high reliability and full composability.
Wormhole Settlement includes three key components: Liquidity Layer, an institutional-grade intents protocol; Mayan Swift, an onchain auction protocol optimized for speed; and MCTP, which integrates with Circle’s CCTP for enhanced composability.
Securitize brings Apollo Global’s ACRED into DeFi through its sToken partnership with Elixir, allowing investors to mint deUSD liquidity while retaining ACRED ownership and yield. deUSD holders can access USDC borrowing on Morpho with a 91.5% LLTV, provide liquidity in Spectra’s yield trading pool and LFJ’s deUSD/USDC pool, unlocking new DeFi opportunities. This integration bridges institutional private credit with DeFi, enhancing liquidity and capital efficiency across the ecosystem.
Berachain introduces Polaris, the first fully autonomous Star in Sky’s Agent Framework, leveraging $7.5B of SkyEcosystem’s USDS to deploy capital into the Berachain ecosystem. The integration combines Sky’s deep liquidity engine with Proof of Liquidity, enhancing capital efficiency across Berachain.
Inverse Finance integrates deUSD-DOLA LP collateral tokens into FiRM, allowing users to leverage their liquidity for borrowing. Deposits into Curve Finance are automatically handled by FiRM, with options to stake LP tokens on Yearn or Convex. Users can loop positions up to 10x with a 90% collateral factor, earning up to 69.59% APY while benefiting from fixed lending rates to avoid rate volatility. The collaboration with Elixir, Yearn, Convex, and Curve also offers 10x Apothecary potions rewards for deUSD-DOLA liquidity providers.
LayerZero integrates Hyperliquid’s HyperEVM with 120+ chains, enabling seamless token extensions, app deployments, and asset bridging. With nearly a trillion dollars in lifetime perpetuals volume, HyperEVM expands its interoperability through LayerZero’s network.
Wormhole enables native-to-native cross-chain swaps to Sui via Mayan Finance’s MCTP, allowing users to swap any token from Solana and EVM chains to Sui in a single click. Leading Sui protocols, including Navi Protocol and Aftermath Finance, have integrated MCTP for seamless cross-chain transactions, with more integrations expected soon.
Gearbox expands to Sonic, introducing lending pools, leverage farming, and leverage trading with enhanced rewards. Users can earn 8x Sonic Points on wS lending and 10x Sonic Points on USDC lending, with no lockups, fees, or impermanent loss. Leverage farmers can earn 120x Sonic Points + 240 Rings per day with scUSD from Rings Protocol or 80x Sonic Points and 29% APY with stS from Beets.fi.
Traders can access leverage on WETH, wS, and stS across Shadow and Equalizer DEXes. Secured by 10+ audits, AI monitoring, and Chaos Labs risk management, Gearbox offers a battle-tested platform for maximizing capital efficiency on Sonic.
Timeswap is now live on HyperEVM, allowing users to borrow USDT against wHYPE collateral without facing liquidations. The platform’s first pool enables lending and borrowing USDT through Hyperlane, with full details available on the official Timeswap app.
Certora announces it is now open source, making its security tools freely accessible to developers and encouraging broader adoption for securing protocols across the DeFi ecosystem.
PancakeSwap is now live on Monad, with $aprMON among the first supported tokens. Users can swap quickly and add liquidity to earn higher yields on the platform.
Grayscale launches its Decentralized AI Fund, offering accredited investors diversified exposure to the intersection of AI and crypto. The fund includes holdings in $NEAR, $TAO, $RENDER, $FIL, $GRT, and $LPT. Interested investors can access more details and disclosures through Grayscale’s official platform.
Magic Eden now allows users to create wallets using their email, enabling NFT trading across Solana and all EVM chains without the need for additional wallets. The feature supports fiat and crypto funding while remaining non-custodial and secure.
Available on desktop and mobile browsers, with BTC wallet integration and mobile app support coming soon.
Ethena Labs reports a reduction in its unrealized PNL exposure to Bybit from $30 million to $10 million, with full exposure expected to be eliminated within the hour. The platform holds $2 billion in liquid stablecoins backing USDe, which remains fully redeemable. Users can track these metrics via Ethena’s transparency dashboard. The team also expressed support for Bybit amid the ongoing investigation.
Jupiter Exchange upgrades its token search feature, enhancing results by factoring in both search terms and market conditions using organic scores and other metrics. The platform invites user feedback to further improve the search experience.
mETH Protocol has resumed $cmETH withdrawals, assuring users that all funds remain secure and fully backed. A detailed post-mortem will be released soon, providing insights into the incident and the measures taken to resolve it.
Issues
Safe{Wallet} confirms that the Bybit attack was a targeted operation by the Lazarus Group, exploiting a compromised Safe{Wallet} developer machine to propose a disguised malicious transaction. A forensic review found no vulnerabilities in Safe smart contracts or frontend services. In response, Safe{Wallet} has rebuilt and reconfigured its infrastructure, rotated credentials, and implemented additional security measures.
The platform has been restored on Ethereum mainnet with a phased rollout, and a full post-mortem will be published once the investigation concludes. Safe also commits to leading industry-wide efforts to improve transaction verifiability.
Recently, Bybit, a major cryptocurrency exchange based in Dubai, experienced a significant security breach that’s been making headlines. On February 21, 2025, hackers managed to steal around $1.4 to $1.5 billion worth of digital assets, primarily Ethereum (ETH), from one of the exchange’s cold wallets. This incident is the largest crypto theft in history.
Lookonchain reports that since the hack, Bybit has received approximately 446,870 ETH (valued at $1.23 billion) through loans, whale deposits, and direct purchases. These efforts have nearly closed the gap caused by the recent security breach.
Lookonchain reports that stablecoin bank Infini was hacked, resulting in the theft of 49.5 million USDC. The attacker swapped the stolen USDC for an equal amount of DAI and subsequently purchased 17,696 ETH. The acquired ETH was then transferred to a new wallet.
Upcoming ⏳
Mastercard integrates Ondo Finance into its Multi Token Network (MTN), making it the first RWA provider on the platform. Ondo’s Short Term US Treasuries Fund (OUSG) will serve as the first tokenized RWA solution, enabling businesses to access daily yield and flexible cash management onchain.
A proposal for Aave v3 Sonic activation is now live. If approved by governance, Aave will launch on Sonic next Monday.
Fjord Foundry announces the upcoming Magpie Protocol Pre-Sale, a Fjord-partnered project and the first aggregator in the Sonic ecosystem. Backed by Jump and ParaFi Capital, Magpie claims to offer over 90% better pricing than leading DEX aggregators, with $4.5 billion in trading volume across 19 blockchains.
The project is integrated by Rabby and 15 others, with the sale and TGE set to take place on SonicLabs.
Ethena Labs expands to MoveVM chains, starting with Aptos, where sENA holders will receive a share of 5% of Echelon’s token supply. sENA rewards begin accruing as points, with locked sENA eligible for additional incentives. USDe and sUSDe will be integrated into the Aptos ecosystem, with sUSDe positioned as a core savings asset via Echelon and Thala Labs.
Users can bridge assets through Stargate Finance and must delegate their airdrop to link their Aptos and Ethereum addresses for Ethena rewards.
Berachain launches Governance Phase 1, allowing teams to submit RFRVs for BEX and non-BEX smart contract pools. Proposals should be posted on the Berachain forum for community feedback before approval, determining eligibility for BGT emissions.
Meteora reaffirms its commitment to strengthening its liquidity layer and LP community, outlining key improvements to its DLMM and Dynamic AMM. Enhancements include Dynamic Positions for better liquidity management, Token2022 support for expanded accessibility, and a new version of the Dynamic AMM for increased capital efficiency. Meteora will also refine its SDKs and documentation to support developer integrations.
Solv Protocol is set to launch SolvBTC.BNB tomorrow, enabling BTC holders to access Binance Launchpool yields and top DeFi opportunities on BNB Chain. The new product aims to enhance BTC utility within the ecosystem.
Axelar launches v1.2.1 "Cobalt", introducing a governance-approved fee-burning mechanism that sends 98% of network gas fees to a burn address, with the remaining 2% allocated to a community grant pool. This upgrade strengthens AXL tokenomics by securing interoperability through a reward pool model, replacing inflationary rewards.
Contango announces the integration of sUSDS from SkyEcosystem into Compound Finance, enhancing liquidity and leverage opportunities. The platform has also introduced additional trading instruments using USDS as a quote asset.
Avantis launches XP Quests, a weekly community competition offering 50,000 XP and additional boosts for participants. Users can join the Avanteers, complete quests, and earn rewards for their contributions. Quest I is now live, with details available on the Avantis Discord.
Airdrops 🪂
Vertex launches a 1.75M $S token trading rewards program over the next five weeks, distributing 350K $S tokens weekly based on taker volume. Traders can earn up to 100% of taker fees paid in $S, with rewards scaling proportionally if demand exceeds the pool. In addition to $S, participants will also farm Sonic Points and Gems as part of Season 1 ecosystem rewards.
The program runs from February 26 to April 1, with weekly epochs refreshing every Wednesday.
Morph highlights its rapid growth, boasting over 1 million community members, 165K+ unique registered addresses, 3.25M+ transactions, and 200+ deployed projects. Backed by Dragonfly, Pantera, Foresight Ventures, The Spartan Group, and others, Morph secured $20 million in seed funding to expand its ecosystem. The platform also fosters a vibrant creator community, offering resources for content and storytelling. Morph continues to engage its community through online and IRL events, with a Secret Room gathering planned this Thursday in Denver.
Vertex launches a 1.75M $S token trading rewards program over the next five weeks, distributing 350K $S tokens weekly based on taker volume. Traders can earn up to 100% of taker fees paid in $S, with rewards scaling proportionally if demand exceeds the pool. In addition to $S, participants will also farm Sonic Points and Gems as part of Season 1 ecosystem rewards.
The program runs from February 26 to April 1, with weekly epochs refreshing every Wednesday.
Morph highlights its rapid growth, boasting over 1 million community members, 165K+ unique registered addresses, 3.25M+ transactions, and 200+ deployed projects. Backed by Dragonfly, Pantera, Foresight Ventures, The Spartan Group, and others, Morph secured $20 million in seed funding to expand its ecosystem. The platform also fosters a vibrant creator community, offering resources for content and storytelling. Morph continues to engage its community through online and IRL events, with a Secret Room gathering planned this Thursday in Denver.
Bunni launches Round 3 of $BUNNI incentives, running from Feb 25 - Mar 11 with two incentivized pools on Ethereum Mainnet. The USR-USDC Rush Pool targets $5M TVL, rehypothecating assets to Euler Finance for additional yield, while the USDC-USDT Recur Pool has a $1M TVL target, leveraging Aave for extra returns. Rush pool users must manually join the recur pool to continue earning. Both pools are now live for LPs to participate.
Babylon Foundation opens BABY Airdrop Registration, allowing users to sign up for eligibility. Full details and registration are available on the official blog.
RateX integrates with Fragmetric to offer trading for fragSOL and fragJTO, featuring a 4x F Points bonus and a 5x RateX Point Booster as part of an accelerated campaign with 5,000 JTO incentives. Fragmetric, a native liquid restaking protocol on Solana, allows users to leverage LSTs and earn additional NCN rewards.
Traders can gain up to 40x exposure by swapping YT-fragSOL and YT-fragJTO while securing fixed yields through PT-fragSOL and PT-fragJTO. Liquidity providers can maximize returns through APYs, swap fees, and boosted points on RateX’s leveraged yield platform.
Talus launches the Tallys NFT waitlist, offering early sign-ups a digital sticker pack and automatic entry into a giveaway for 20 exclusive Talus x Sui Network hoodies. Users can also gain extra giveaway entries by referring friends. Sign-ups are now open at tallys.talus.network.
Satoshi Protocol announces that users can now connect their wallets to check their GOLD allocation from Season 1 contributions. GOLD, which will soon be claimable as a tradable token and later convert into the governance token, is earned through BTC/LST deposits, satUSD minting, BTCFi usage, and testnet participation. No GOLD tokens have been issued yet, and users are advised to beware of scams, with official updates expected next week.
ALLiN GAMING launches a battle for a 1,000,000 $ALLIN airdrop, with only one community eligible to claim the prize. Competing groups include Mad Scientists, Celestine Sloths, Mammoth Overlord, and Onchain OMies. The poll is live for five days, and participants are encouraged to rally their communities.
Mitosis invites users who voted on the KaitoAI Launchpad during the first week to claim their rewards at morse.mitosis.org/claim. Rewards will be distributed in three equal rounds over three months, with unclaimed first-round rewards forfeited after 12 AM UTC on March 31, 2025. Snapshot details include votes, leaderboard rankings, and NFT holder snapshots taken between January 24 and February 11, 2025. Further announcements will be made as each reward round begins.
Soneium Conquest enters its final three days, with over 125,000 participants and 25+ projects reshaping Web3 gaming. Users still have the chance to join the onchain action and be part of the platform's growing ecosystem. The final phase is live on Galxe.
Matchain announces the migration of MatchQuest to its new web platform at hub.Matchain.io. Users must sign up with their Telegram accounts and set up MatchID.ai to secure their progress and ensure eligibility for upcoming airdrops. Immediate action is recommended to avoid losing game data.
Farms 🧑🏻🌾
Ethena Labs introduces two new Pendle pools, offering enhanced rewards for USDe holders. The eUSDe pool with Ethereal DEX expires on May 29, earning 50x Ethena Rewards and Ethereal points, while the USDe pool expiring on July 31 features an exclusive 60x Ethena Rewards multiplier, the highest to date. Ethena confirms that interactions post-Season 3 expiry will count toward Season 4 rewards, with further details expected next month. Pendle is also migrating the old USDe pool to optimize the new 60x Sats yield structure for YT holders.
Pendle integrates LevelUSD, bringing lvlUSD and slvlUSD to the platform with enhanced rewards. lvlUSD (non-yield bearing) offers 40x Level XP + Symbiotic Points, while slvlUSD (yield-bearing) provides 20x Level XP alongside Aave V3 base yield and restaked yield, currently at ~11.3% APY. Traders can speculate on XP with YT-lvlUSD or balance yield exposure with YT-slvlUSD, while fixed-income seekers can utilize PTs for stable APY.
Term Labs' Friday Blue Sheets highlight new earning opportunities with SuperUSDC on Superform. Users can earn 12.25% APY backed by PT-ysUSDC with Term points or 10.75%-11.75% APY backed by deUSD with 1.7x Elixir Lux rewards. ETH holders can earn 4.75% APY backed by tETH with 10x TreehouseFi nuts and Term points. Earnings are now live at app.term.finance.
Stake DAO launches the $sUSD/$USDe pool on Curve Finance, enhanced by OnlyBoost for optimized $CRV rewards. Synthetix supports the initiative by maximizing returns through Stake DAO’s full suite, including Votemarket incentives for voting.
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