Last Week in Defi - Sonic Launches Testnet 2.0 Blaze,Farm SOL with Dual Airdrop, Meteora Launches M3M3 Staking, and more...

Recap: Week of Dec 2nd

Launches 🚀

• Sonic, formerly Fantom, has unveiled Testnet 2.0 Blaze, an EVM-compatible Layer 1 blockchain platform. Sonic introduces innovative fee monetization models, enabling developers to earn up to 90% of the fees generated by their dApps. Users who engage with dApps on the Blaze testnet will also qualify for an upcoming airdrop of approximately 200 million S tokens.

• Coinbase integrates Apple Pay with Coinbase Onramp, supporting fiat-to-crypto conversions with lightweight KYC, US debit card compatibility, and free USDC on/offramping.

  

• Brahma Account, a self-custodial, multichain smart contract account, is transforming the onchain experience with seamless integrations, secure asset management, and 1-click onchain actions. Users can manage assets across chains, interact with dApps, and enjoy programmable money capabilities, all powered by @SAFE for maximum security.

  • Today in DeFi is supported in part by Brahma.

• Orderly Network is now live on Solana, providing a shared orderbook for traders on Solana and EVM chains. Developers can use the SDK to integrate perpetuals, and traders gain access to 70+ pairs, deep liquidity, and gasless trading.

• Namada launches mainnet phase 1, introducing multichain shielded transactions for enhanced privacy and data control.

• Starknet releases StarkGate v2.0 on Mainnet, introducing improved UX, broader token support, and updated bridging features for accessing its dApps in a low-cost environment.

• Meteora announces M3M3, a staking mechanism for memecoins inspired by the (3,3) model, designed to shift memecoin dynamics from PvP to PPP by reducing selling pressure and encouraging long-term staking.

• Particle Network unveils UniversalX, a chain-agnostic trading platform powered by Universal Accounts, eliminating the need for bridging and enabling seamless, borderless Web3 transactions.

• Avalon Labs launches $USDa, a Bitcoin-backed stablecoin on Hemi, offering up to 15% yields and an 8% fixed borrowing rate.

• Kamino launches Kamino Swap, a Solana-based exchange using Pyth Network to eliminate slippage, fees, and MEV, ensuring efficient and seamless token swaps.

• MilkyWay launches Celestia's first restaking protocol, allowing assets like TIA, milkTIA, and stTIA to secure MilkyWay AVSs and off-chain programs. mPoint rewards outside Osmosis LP (milkTIA) are discontinued.

• Movement announces the launch of Movement Network Mainnet Beta. Infrastructure providers can now begin supporting the network.

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Updates 📰

• Jupiter’s first Jupuary vote has fallen short of the required 70% supermajority, concluding with 58% in favor of the baseline plan and 42% against. A total of 364 million JUP was cast, accompanied by over 12,000 verified feedback submissions. The team is currently reviewing the input and plans to propose a revised vote on December 3 or 4.

• GoPlus Security has announced the launch of the first security-focused AVS (Active Validation System) mainnet, powered by AltLayer and economically secured via EigenLayer’s restaking mechanism. This AVS will enable GoPlus to offer decentralized security services, including anti-phishing, token security analysis, malicious address detection, AML tools, and potential MEV attack prevention.

• Holding Usual’s USD0++ now earns 43% APY. USD0++ is the liquid staking token of USD0 backed by US treasuries. USD0++ allows holders to benefit from amplified treasury yields and receive 90% of protocol revenue emissions.

• Derive integrates with Ethena Labs, enabling access to its DeFi ecosystem and unlocking $4.5B TVL and 300,000 users. The partnership aims to enhance on-chain options, perpetuals, and structured products.

• Spectra launches $SPECTRA on Base, introduces App V2 with mobile support, and unveils MetaVaults for liquidity optimization in Q1 2025. Updated Curve-backed pools enhance trading efficiency and user rates.

• Gearbox expands BTCfi strategies with up to 10x credit, enabling boosted restaking rewards on EtherFi's eBTC and enhanced yields through Lombard Finance's LBTC PT on Pendle.

• Sky Ecosystem updates parameters following an Executive Vote: SSR rises to 9.5% and DSR to 8.5%. Stability fees increase to 9.25%-9.75% for ETH vaults, 10%-10.25% for WSTETH vaults, and 12%-12.75% for WBTC vaults.

• Wormhole launches the Staking Rewards Program (SRP) on December 4 across EVM and Solana chains, allocating 50,000,000 W for Reward Period 1 to users staking for governance.

• Everclear launches the NEXT to CLEAR migration and Season 1 Rewards on December 6 with 1.75M CLEAR over three months. L2 tokens auto-wrap, Mainnet tokens wrap 1:1, and stakers earn vbCLEAR for governance.

• Pear Protocol updates $PEAR staking with enhanced $ETH rewards, autocompounding into $stPEAR, and a new staking page. LP fees and revenue sharing boost payouts.

• Aerodrome launches the AERO Fed, allowing veAERO voters to adjust emissions rates for growth. Early Velodrome Rewards voters get a 1.5x asset boost.

• Superform Labs launches on Linea, an Ethereum L2 zk-rollup, enabling seamless deposits into Linea vaults from any chain in one transaction. Users can earn up to 43% APY and ZeroLend’s Zero Gravity Points, convertible into $ZERO tokens.

• Spark proposes increasing the savings rate from 9.5% to 12.5% and the USDS/DAI borrow rate to ~12.5% on SparkLend.

• Meteora announces $M3M3 fee rewards are now live, with over $4 million to be distributed to the Top 999 stakers. All $M3M3 holders can stake and compete for a share of the rewards.

• Lido announces wstETH is now live on Starknet, allowing users to bridge tokens to access Starknet's DeFi ecosystem with lower gas costs and faster transactions.

• MetaMask announces ETH staking is now live on MetaMask Mobile, allowing users to stake and earn rewards directly from their app.

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Upcoming ⏳

• Sui is collaborating with Babylon Labs and Lombard Finance to bring Bitcoin liquidity to its ecosystem. BTC holders will soon be able to stake natively on Sui and engage in its DeFi ecosystem. Protocols like NAVI and Cetus are showing interest in supporting $LBTC pools, enhancing opportunities for users.

• Sturdy's Bittensor subnet is integrating USDY, Ondo US Dollar Yield stablecoin. Users will be able to borrow USDC against USDY and Curve USDC-rUSDY against USDC Lenders will be able to deposit to an aggregator that allocates assets to these pools. Sturdy's Bittensor subnet, SN10, will manage USDC allocations within the aggregator to provide lenders with AI-optimized yields

  

• Perennial introduces Perennial Intents, novel intent layer designed to enhance

  liquidity and provide a CEX-like trading experience for perpetuals in DeFi.

  It offers guaranteed price execution, seamless one-click trading, and deep

  liquidity by combining intent-based order matching with AMM settlement, while

  the new "Petals" program rewards active traders with points.

  • Today in DeFi is supported by Perennial Finance.

• Sonic Labs announces the creation of its genesis block, signaling the imminent launch of Sonic L1.

• Convex Finance hints at a new chapter with an upcoming announcement, hinting an upcoming product release.

• Celestia enables 8MB blocks on the Arabica testnet, achieving 1.33MB/s of permissionless data throughput. Mainnet launch is planned for January.

• MilkyWay launches the first Restaking Protocol for Celestia in December, enabling TIA restaking to secure AVSs and off-chain systems while supporting modular security solutions.

• Suilend announces a 10-day countdown to the launch of $SEND on December 12.

• Seraphnet announces the $DLLM token launch via a Liquidity Bootstrapping Pool (LBP) on Fjord Foundry starting December 9, 2024.

• Satori announces a 12% airdrop allocation to reward its community: 3% for Season 0 OGs, 4% for Season 1 participants (ending December 7), and 5% for the upcoming Season 2 with gamified rewards for trading milestones.

• Berachain proposes integrating Morpho Blue into its Bend money market, enhancing lending with PoL incentives and seamless deployment. The partnership includes a license fee, risk management onboarding, and operational tool setup.

• Curve proposes to further optimize scrvUSD parameters by increase fee share to 50%. Further fee share increases could drive growth but require careful monitoring of pegkeeper liquidity.

• Fluid Protocol is rebranding to $FLUID, aiming for $10B in market size by 2025 through new tokenomics, governance updates, and growth incentives. The plan includes algorithmic buybacks, lending and trading rewards.

• Austin Federa leaves Solana to co-found DoubleZero, the first N1 network, alongside Mateo Ward and Andrew McConnell. DoubleZero aims to enhance bandwidth, reduce latency, and provide decentralized, permissionless base layer infrastructure for high-performance blockchains like Solana.

• Safe announces Safenet, a network linking L1s, L2s, and offchain systems for instant cross-chain execution, enhanced security, and onchain GDP integration.

• Ethena Labs announces the launch of $DRV on January 15, 2025, with 5% of the supply allocated to $sENA stakers.

• ZKsync Ignite announces its launch on January 6, 2024, with integrations across major DeFi protocols like SyncSwap, Uniswap, and PancakeSwap.

• Phantom has announced plans to integrate support for the Sui blockchain, expanding its multichain capabilities beyond Solana, Ethereum, and Polygon.

• Pudgy Penguins announces $PENGU launching in 2024.

• N1 introduces a new L1 blockchain focused on enabling all code and applications fully on-chain.

• Babylon announces BTC staking on Binance Earn, launching December 9. Users can stake BTC and earn rewards directly through their Binance accounts.

• Nexus announces a new network testnet launching December 9, aiming to reduce time and resources for the Verifiable Internet.

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Airdrops 🪂

• Lombard’s Babylon Cap-3 Flash Event is now live. Users can mint a minimum 0.001 LBTC before 15 Dec 11:00 UTC, and hold it either in a wallet or whitelisted DeFi until 5 Jan 11:00 UTC to join the event. All new LBTC minted will receive a double Lux boost. Existing users that double their stake before Dec 15 will be eligible for triple rewards.

• Pell has launched the Rush Campaign in partnership with Mantle, offering users a share of 20,000 MNT rewards and Pell Points. Participants can complete social tasks and restake on Mantle via Pell to earn rewards.

• Matchain’s Stage 2 of Don’t FOMO Event is now live. Users can purchase KEY to participate in jackpot lottery and have the opportunities to win airdrops with ongoing rewards for KEYS you hold. The airdrop pool

  grows with every KEY purchase.

• Storm Trade introduces $STORM staking, offering 5 TON Open League points for every $20 staked. Users can mint badges and start earning points via the Open League platform, powered by JVault.

• EtherScore releases the "Linea Voyage NFT Minter" badge for Linea users who minted a Linea Voyage NFT. Users with earned LXP from the Surge program can claim an additional badge.

• Satori to announce airdrop allocations for Seasons 0, 1, and 2 on December 3.

• Nodepay launches Season 1 Points on dashboards, users can check their season 1 earnings now.

• Elys Network announces the airdrop checker is live, reflecting 5% of the supply. A detailed breakdown of the full 14% allocation will be shared on December 8, with updated eligibility checks available then.

• Jumper launches the Genesis of GravityChain quest, users can complete tasks, mint an NFT, and enter a $1000 USDC raffle.

• Magic Eden announces the launch of a $ME eligibility and allocation checker.

• Sonic Labs announces that the $S airdrop has not occurred yet. Users can earn points by engaging with apps on the Sonic mainnet after launch

• Kelp DAO launches the Kelp Gain vault on ZircuitL2, offering higher rewards, 2x Zircuit points, 3x Kelp Miles, and access to ecosystem airdrops, AXL grants, and multi-L2 rewards. Expansion to another L2 is coming soon.

• Sky Save Finance enables USDS borrowing and lending on Solana with 400,000 USDS in monthly rewards (~100,000 USDS weekly) for USDS suppliers.

• Fuel Network teases an upcoming token generation event for the $FUEL airdrop.

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Farms 🧑🏻‍🌾

• Meteora launches the sSOL-SOL pool, allowing users to restake SOL via Solayer Labs and earn higher yields. The pool offers dual incentives, granting both Solayer and MET points.

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