Last Week in DeFi - Rysk Launched 100x, Tally Introduces Tally Protocol, Superposition L3 Launching Public Testnet, Summer.fi Introduces Points Program, and more....

Recap: Week of June 17th

Launches 🚀

• RISC Zero has launched zkVM 1.0, a production-ready, general-purpose zero-knowledge virtual machine (zkVM). One of the key features of zkVM 1.0 is its cost-effective proving process and better performance metrics.

• Tether introduced Alloy by Tether, a platform for minting gold-backed Tethered Assets. The first Alloy by Tether token is aUSD₮, a USD-denominated Tethered Asset that can be minted using Tether Gold (XAU₮) as collateral.

• Rysk launched 100x, a zero-trading fee perp dex on Blast L2. Rysk is giving 100 XP to Rysk users and has 114,144 Blast Gold to distribute until June 25th.

• Moon.inc is live on Base L2. Moon.inc is a new token launchpad built on Ajna which allows for the creation of un-ruggable tokens that can be shorted or borrowed against on Ajna.

• Nuri Exchange launched on Scroll L2. Nuri is a dex with Concentrated Liquidity ve(3,3) implementation.

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Updates 📰

• Fantom Foundation announced the Sonic Labs Innovator Fund, committing up to 200,000,000 FTM to accelerate partner migration for the launch of the Sonic Network.

• Revert has released V3 of Revert Automators, featuring an auto-compounder that keeps position NFTs in user wallets, simultaneous auto-compound and auto-range/auto-exit functions, improved auto-range logic, and flexible fee payment options.

• Maverick AMM launched V2 on Ethereum, Arbitrum, Base, BnB Chain, and zkSync. Maverick V2 integrates with top Defi protocols (Lido, Aave, Ethena), has programmable pools, and offers MAV emissions for LPs.

• Drift, a Solana-based perp dex, launched DRIFT staking. Stakers are earning double voting power and fees from DRIFT/USDC market.

• IndexCoop launched Fortunafi’s RWA index token presale. Early depositors can earn IndexCoop PRTs, and for successful products, PRTs can be staked to receive a share of product revenue.

• Drift partners with Ondo to enable the integration of RWAs into Solana DeFi. Ondo’s USDY is now live on Drift as collateral for margin trading and perpetual.

• BOB L2 introduced BOB Gateway, allowing users to swap BTC into tBTC, and wBTC (more soon) on BOB via a unified interface without complexities.

• Ethena $ENA tokenomics update includes the introduction of ENA generalized restaking, ENA restaking pools within Symbiotic, USDe as the gas token for Ethena Chain, etc.

• Trader Joe launched Liquidity Book V2.2. V2.2 introduces a hook capability for the Liquidity Book and Concentrated Incentives (live today) with ARB rewards activating tomorrow.

• Notional announced V2 deprecation. V2 borrowers will be swapped to V3 by July 1st, and everyone else by July 8th.

• Uniswap is now live on zkSync L2. Uniswap partners with Layer3, allowing users to earn CUBEs and XP while swapping on ZKsync with the Uniswap interface.

• Ether.fi announced a new LRT weETHs and launched the Super Symbiotic LRT vault. Users can deposit LSTs to earn points and receive weETHs.

• Spectra introduced its Points Page, allowing users to discover programs and access strategies that increase points exposure in one place.

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Issues 🚨

• Kraken CSO Percoco disclosed that nearly $3 million worth of funds had been withdrawn from its wallets related to a vulnerability found by a security firm which turned out to be Certik. Percoco alleged that three individuals connected to Certik were behind the withdrawals and had refused to return any funds. Percoco later confirmed that the funds were transferred back to Kraken.

• Stacks, an L2 for Bitcoin, experienced a halt for nearly 9 hours caused by a Bitcoin block reorganization and unexpected miner behavior. The team stated that “This type of block slowness will not be an issue for Stacks post-Nakamoto since there are no forks.”

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Upcoming ⏳

• ENS releases a project plan for its forthcoming V2. The ENSv2 project plan details five implementation phases turning ENS from an Ethereum protocol to an L2.

• Ether.fi proposes to buy back ETHFI with up to 50% of protocol revenue, use the purchased ETHFI to build the treasury, and seed a liquidity pool on Curve to increase TVL on-chain for ETHFI.

• Tally, a DAO management platform, announces Tally Protocol. Tally Protocol will focus on the economic potential of governance tokens by introducing features like Tally Liquid Staked Tokens (tLSTs), governance restaking, voting power redistribution, etc.

• dTrinity, a stablecoin liquidity protocol with low borrowing costs and sustainable yields, will launch on Fraxtal L2 in Q3 2024.

• Superposition will launch its public testnet on June 24th. Superposition is an L3 chain built on top of Arbitrum One, and users will get paid for using it.

• Jupiter's founder proposes a 30% reduction in JUP's total supply, including a voluntary cut from the team's allocation and a corresponding reduction in emissions.

• Marinade, a Solana-based liquid staking protocol, introduces V2. Marinade V2 will support native staking, Protected Staking Rewards (PSR), and Stake Auction Marketplace (SAM).

• Sturdy approved $veSTRDY. Once staking goes live, users will be able to stake their $STRDY in exchange for $veSTRDY to direct $STRDY emissions and boost yield.

• Ronin, a gaming blockchain, announced forthcoming support for zkEVM L2 chains. Ronin will use a modified version of the Polygon CDK to allow third-party game developers to build their own L2s on Ronin.

• USX Protocol, a stablecoin project built by dForce, introduced $sUSX. $sUSX is a yield-bearing omni stablecoin that will allow users to earn native yields on sUSX across all supported blockchains, providing flexibility and enhancing liquidity.

• Gnosis DAO proposed to approve a grant of 40,000 xDAI and 100 GNO to expand marketing campaigns in support of the launch of Shutterized Gnosis Chain.

• BnB Chain announced the BEP-336 upgrade with the Haber hardfork on June 20. Inspired by Ethereum’s EIP-4844, this upgrade aims to optimize the BnB Chain's data storage and transaction processing.

• Jupiter cofounder announced upcoming updates, including Jupiter Swap V3, Dynamic Slippage, Token List V2, Value Averaging, and Jupiter APE Wallet.

• Mantle L2 introduced $cmETH, a new LST that will launch with a points program for early supporters. Season 1 of the program will start July 1, 2024, and will last for 100 days.

• Trader Joe introduced Stable Jack, an Avalanche-based LSTfi platform that will feature AVAX LSTs-backed stablecoin aUSD. Stable Jack will have a governance token JACK, and users will be able to buy JACK at a discount by providing liquidity on Stable Jack.

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Airdrops 🪂

• Zeta Markets’s ZEX eligibility checker is live. Claiming will start after the TGE. 30% of the $ZEX supply will go for ongoing trader incentives on a per epoch basis (every 28 days), with rewards proportional to each trader's Z-Score.

• Summer.fi introduces its points program. Summer.fi has taken a snapshot for early users, and users can still earn $RAYS by using Borrow, Earn, or Multiply.

• Pendle YTs earn Symiotic points, Mellow points, and LRT points, while PTs accrue the yields.

• Lista DAO airdrop claim is live and LISTA is now trading on Binance.

• EigenLayer stakedrop Season 1 phase 2 claim is live. Season 1 claim window will close on Sept. 7th and Season 2 is underway.

• ZKX, an OG perp dex on Starknet, launched the $ZKX token. ZKX plans to launch staking and 4M $ZKX tokens for airdrop 2.0.

• Particle, a Blast-based leveraged trading protocol, will launch the $PTC token in early July. Particle will distribute the remaining 500k and 150k Blast Gold for LAMM and DUO with boosts to celebrate.

• Kinetix, a perp dex on Kava and Base, launched the $KAI airdrop checker.

• Deri, a derivatives trading protocol, launched a trading competition with a 15,000 USDC prize pool and a 500 extra prize for Galxe users.

• LayerZero has launched the airdrop checker for eligible users. The airdrop is going live on June 20th.

• Pac Finance, a Blast-based lending protocol, introduced the $PAC token. Users can earn Pac points by supplying and borrowing assets on Pac, with the amount and holding period determining their total points.

• Mode introduced Activity Points. Users can earn a share of 5 million points daily based on their transaction volumes across key pools on Kim, Supswap, SwapMode, Izumi, and Velodrome.

• Wasabi, a Blase-based perp dex, partners with ThrusterFi to launch a trading competition. Starting today until June 24th, traders on Wasabi will compete in 3 different categories across 7 Blast native pairs to win a piece of the 100K Blast Gold prize pool.

• zkSync’s ZK airdrop claim is now live. Claiming will be open until January 3, 2025.

• LayerZero introduced the LayerZero Foundation and confirmed the $ZRO airdrop date on June 20th.

• According to Fortune, socialFi app Farcaster has 50k daily users and will launch a token.

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Farms 🧑🏻‍🌾

• Stake your GHO to earn ~22% APR from AAVE and Merit Program

  • Today in DeFi is supported in part by ACI

• Synthetix V3 is live on Arbitrum and starting June 18th, at 9 pm EST., depositing ETH, ARB, and USDC will earn users ARB LTIP rewards.

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