Last Week in DeFi - Sei V2 Live, Ondo Launch rUSDY, Aave Chain Coming, Aevo Airdrop for Zerolend, and more....
Recap: Week of May 27th
Launches π
Taiko L2 has launched on the Ethereum mainnet. Taiko will launch its token a few weeks after the mainnet goes live, and will introduce a points incentive program called Trailblazers to engage its community.
Sei V2 is live on mainnet. Users can now connect to Sei using EVM wallets like Metamask and Compass.
Astaria, an intent-based, fixed-rate lending protocol led by ex-Sushi CTO, is live on Ethereum mainnet with tokens available (WETH, GEAR, PEPE, etc.)
Velar, the first perp dex on Bitcoin, launches its testnet on Bitlayer L2. Testers can trade perps on Bitcoin-based assets with up to 10x leverage.
Soul Labs launched the web version of Soul, a cross-chain lending protocol based on LayerZero. Soul enables lending & borrowing for native assets without the need for bridging or synthetics.
Mind Network launched a testnet for the first FHE (Fully Homomorphic Encryption) Restaking Layer for PoS and AI Networks. FHE allows for direct computation of encrypted data without the need for decryption.
Stargate V2 pools and incentives are live. LPs can now deposit their liquidity into V2 pools to earn STG token rewards.
DFlow mobile trading app launches beta on Solana with faster onboarding and improved security. The app is now for Phase 0 & 1 users and will be available to everyone by the end of June.
Forma, a modular blockchain focused on NFTs, is live. Forma is built on Astria and Celestia.
Mastercard launches 'Crypto Credential,' allowing users to send and receive crypto using a username instead of a wallet address.
Updates π°
Hyperliquid L1 has enabled permissionless spot deployment. Anyone can deploy spot assets on Hyperliquid following the HIP-1 & HIP-2 standards.
IntentX, a Blast-based perps DEX, has launched the public phase of INTX ICO on the Moby launchpad, with a 10,000 USDC cap for each wallet.
Uniswap launched a vote on May 31st to upgrade the protocol so that its fee mechanism can reward UNI token holders who have staked and delegated their tokens. UNI holders who want to vote must delegate their tokens before voting goes live.
Jupiterβs JupSOL now earns 50% of priority fees generated by the Jupiter Validator. Jupiter has distributed 400 SOL over the weekend and will add future earnings automatically every epoch.
Ondo launched rUSDY on the Ethereum mainnet. rUSDY is a new form of USDY, where earnings are accumulated through the daily distribution of additional tokens. The original USDY earnings were accumulated daily through an increase in the redemption value of each token.
Solana community has voted to allocate 100% of priority fees to validators, ending the previous mechanism that burned 50% of these fees.
Sandbox, a gaming platform, announced a three-phase launch of Sandbox DAO. The DAO will allow SAND holders and LAND owners to vote on governance and project implementations.
Kwenta V3 merge release is live on Base. The release features support for USDC, portfolio margin, and future upgrades to enable multi-collateral margin, long tail assets, and more.
LayerZero is now live on Solana.
Pendle now supports USDe (Karak). Users can access leveraged exposure to Karak XP + Sats through YT with USDe on Pendle, benefiting from the highest Karak XP multiplier.
Paypalβs pyUSD is available on Solana, using token extensions to support compliance while allowing for confidentiality.
Phantom announced users can now buy, store, and manage BTC from it
Babylon chain raises 70M in a round led by Paradigm to advance trustless Bitcoin staking.
XAI Games announced their partnership with SuperWalk, a Move2Earn (M2E) dApp based in Japan and Korea.
Optimism Fjord upgrade proposal means chain operators will have more time to respond to L1 node outage issues before the L2 chain stalls.
GMX announced the launch of perpetual & spot markets on GMX V2 on Arbitrum.
Issues π¨
DMM Bitcoin, a Japanese cryptocurrency exchange, reported a loss of 48 billion yen ($305 million) in Bitcoin due to a hack. The hacker stole 4,502.9 BTC, distributing the funds across 10 wallets in batches of 500 BTC each. Measures have been implemented to prevent further unauthorized outflows.
Upcoming β³
Ether.fi introduced Cash, a mobile wallet, and a Visa credit card. The card will allow users to spend money by borrowing USDC against their ether.fi assets or swapping them into USDC for instant settlement. Card pre-orders will be available in July and shipped for use in September. Users can join the waitlist to get 1,000 Cash points.
Lido proposed Simple DVT Module expansion. If approved, Lido will allow the creation of larger Node Operator clusters and increase the maximum target share of the Simple DVT module to 4%.
ENS Labs introduced ENS v2, proposing to extend the ENS protocol to a layer 2 network to bring protocol enhancements.
Maple announced Syrup, a new protocol that allows users to earn institutional yield + Drips rewards. Users will be able to deposit USDC into the platform, receive LP tokens (syrupUSDC), and earn yield.
defi.money is a licensed refactor of crvUSD, but natively cross-chain with a focus on L2s. defi.money will launch $MONEY, a USD-based (CDP) stablecoin that is interoperable with any EVM.
Self Chain is a modular intent-centric access L1 and keyless wallet infrastructure service that utilizes MPC-TSS/AA technology for multi-chain Web3 access.
dydx is proposing dydx Chain Protocol v5. This upgrade introduces new features including Isolated Markets, Batch Orders, Liquidity Vaults, Risk and Safety Improvements, performance enhancements, and the Slinky price oracle provided by Skip.
Aave is planning to introduce its chain after launching Aave V4.
Maverick announced Maverick V2. V2 reduces gas fees, adds directional fees, programable pools, and new ve-βFlywheelβ mechanics including a veToken factory.
Arweave: AO, the βhyper parallel computerβ from Arweave, will launch its token. Tokenomics and Genesis Event: June 13. 1100 EST.
RISC Zero , an Offchain zk infrastructure project, is coming to Optimism.
Angle proposes to distribute the Layerzero airdrop: 10% for the team, 90% for veAngle holders, and None for $agEUR bridge users.
Airdrops πͺ
Aevo launched the first Aevo Airdrops for Zerolend, with 400,000,000 $ZERO distributed to eligible users (Aevo stakers & ZERO pre-launch traders).
Starting May 28, users can deposit USDe and earn Ethena native incentives as well as Infinex Governance Points (GP).
Puffer is partnering with Gammaswap. 1% of GammaSwap tokens will go to Puffers: 20% airdropped to pufETH holders, and 80% for pufETH liquidity mining soon.
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