Last Week in DeFi - StableJack Live on Avalanche, Shardeum Incentivized Testnet Live, Superposition L3 Testnet Live, Wormhole to Bring World ID to Solana, and more....
Recap: Week of June 24th
Launches π
Stable Jack, a stablecoin project in partnership with Trader Joe, went live on Avalanche. In the first Epoch of the Seed Launch, users can deposit $USDT, $USDC, $AVAX, and $sAVAX and mint an equal amount of $aUSD and $xAVAX. Early contributors of Stable Jack will enjoy 2x boosted Discount Tickets during the Seed Launch.
Jupiter launched Swap V3 with many new features, powered by its Metropolis liquidity backend. V3 features include instant routing, dynamic slippage, intelligent token filtering, and ecosystem token lists.
DEX Screener launched Moonshot, a pumpdotfun-like platform to launch tokens instantly.
Light Protocol and Helius Labs partner to launch ZK Compression, a new tech that allows applications to scale on Solana. ZK Compression is live on Heliusβ public zk-Testnet, with docs and codes available for developers.
Roam, a DePIN project that uses DIDs to create a Wifi network, is live on Solana Mobile. Roam allows users to connect to over 3.5 million OpenRoaming spots and earn rewards.
Midas, an RWA protocol backed by Coinbase Ventures, launched a new yield-bearing token called mBASIS. The mBASIS token is similar to Ethenaβs sUSDe, which also uses a delta-neutral basis trading strategy to generate yield.
Zerion launched a testnet for ZERO, an EVM-compatible L2 rollup on the ZK stack with zero network fees for Zerion users.
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Updates π°
Aevo tokenomics update: Aevo staking rewards will remain at 100,000 AEVO per week but will not extend into multi-month programs. As approved in AGP-1, the team will commit to buybacks of at least 1M AEVO every month from July to December.
Symbiotic now supports Ethena restaking pools. Pools for Ethena's $ENA and $sUSDe tokens are now open for deposit.
PancakeSwapβs AI-prediction market is live on Arbitrum with a 9-week campaign with 60,000 ARB in rewards.
Solana introduced the Blinks and Actions feature to enable on-chain transactions via any site on the Internet, including X and other social media platforms. Blinks and Actions are now supported on Phantom Wallet, allowing users to make on-chain transactions without leaving their X feed.
io.net has enabled Block Rewards for Suppliers on an hourly basis for making their GPU or CPU available on the IOG Network.
Syrup.fi, a yield protocol by Maple Finance, is live for early users with an access code.
BnB Chain is allocating 900K for liquidity pool (LP) support to develop further and grow meme projects.
Blast introduces Blast Foundation. The Blast Twitter account, website, and governance of the Blast protocol are being transitioned from Arcade Research to Foundation control.
Juice, a Blast-based cross-margin lending protocol, launched Juice Pro. Users can now farm with 10x leverage across Particle and Wasabi, and earn Juice season 3 points.
Tether ends support for USDT minting on EOS and Algorand, shifting focus to community-driven blockchains. Tether will continue to redeem USDT on these blockchains for the next 12 months.
Arbitrum launched Layer Leap, allowing users to bridge directly from Ethereum L1 to an L3 Orbit chain skipping L2.
VanEck, a US investment management firm, just filed for the US's first Solana exchange-traded fund (ETF).
Gravita launched the gravETH vault on StakeWiseV3. Users can either mint gravETH or StakeWiseβs osETH from this vault.
Renzo introduced pzETH in collaboration with Symbiotic and Mellow. Users can mint pzETH to earn restaking rewards and points from Symbiotic, Mellow, and Renzo.
QiDao launched MAI on Morpho (mMAI) on Base. mMAI generates yield from usage fees on Morpho.
Dydx introduced in-app staking. Users can now stake and unstake DYDX and earn USDC staking rewards using the dydx.trade interface.
Bluefin, a Sui-based perp DEX, introduces the BLUE token to extend the protocol ownership to the community.
Upcoming β³
Optimism will launch the Superchain DeFi Festival (SuperFest) soon. Users will be able to explore the Optimism ecosystem and earn rewards.
zkSync unveils Elastic Chain architecture as part of the zkSync 3.0 roadmap, aiming to shift from a singular zero-knowledge (ZK) rollup chain to a network of multiple ZK chains.
Aave ACI proposes joining the Lido Alliance as the Aave DAO and deploying an Aave v3 instance focused on the Lido ecosystem. The market will include wstETH and wETH assets with E-Mode enabled, featuring a 90% wETH borrow cap and initial wETH slope1 set at 2.60% for the first 6 months.
Opyn introduces Opyn Markets, a new protocol for perps trading. The landing page is going live on July 1st.
Valantis Labs introduces Valantis, a modular protocol for deploying customizable DEX modules. Valantis is going live this summer with HOT AMM, the first modular DEX on Valantis.
Bubbly Finance is an AMM-based pre-market DEX with its testnet protocol coming next month. Bubbly will start with points and pre-launch tokens, with plans to support all pre-market assets like vesting tokens, SAFTs, etc.
Arbitrum DAO proposed ARB Staking, a mechanism that uses 50% of future surplus sequencer fees to improve the economic security of the DAO and incentivize more active participation in governance.
Bitcoin developer Burak introduced Brollups, a new Bitcoin L2 that can support more than 90% of DeFi use cases, from NFT sales to token orders on DEXs.
Ondoβs $USDY is one of the six selected applicants of the Arbitrum STEP Committeeβs recommendations for Arbitrum Treasury diversification. Arbitrum will convert 6 million ARB into $USDY, which the allocation amount is second to BlackRockβs $BUIDL.
Fluid will launch a DEX by the end of July. The Fluid DEX will introduce Smart Collateral, Smart Debt, and strategies that allow users to do more with their collateral and debt.
MegaLabs, the builder of MegaETH, has raised $20 million in a seed funding round from Dragonfly, Vitalik Buterin, Joseph Lubin, and others. MegaETH is a βreal-time blockchainβ that aims to achieve 100,000 TPS.
Magpie introduces Sympie, a Magpie SubDAO that provides liquid restaking through Symbiotic. Users will be able to restake their assets on Symbiotic to mint LRTs and accumulate Bio Points, securing an $SMP token airdrop + IDO quota.
Origin DAO proposed a merger of primeETH into YieldNest ynLSD. The proposal states that primeETH users can migrate underlying ETH and LSTs to ynLSD in the upcoming weeks.
Scroll unveils Curie, its next major protocol upgrade scheduled for July 3rd. This upgrade will reduce gas fees on the Scroll chain by 2x.
Wormhole received grants from the Worldcoin Foundation to bring World ID to Solana. The integration will enable Solana-based protocols to verify users' World IDs originally authenticated on Ethereum.
Optimism Fjord upgrade will go live on the OP Mainnet on July 10th at 16:00:01 UTC. The upgrade will bring new features and cost savings.
Airdrops πͺ
Zeta Marketsβ ZEX stage 1 airdrop claim went live on June 27 at 09:45 UTC and will last until Sep 25, with 8% of the total supply distributed to eligible users. After the stage 1 airdrop, the stage 2 staking airdrop will go live for ZEX holders.
Blur Season 3 is complete and Season 4 has started. Users can get points by bidding, listing, and lending on BLUR.io to earn a share of 500,000,000 $BLAST.
Gearbox leveraged Renzo ETH pool has a 3x ezPoint boost. Users can deposit ETH and earn up to 7 EigenLayer points and 22x Renzo points.
Penpie Zircuit L2 pools are live, earning multiplied points on ETH and USDe.
Silo ezETH market on Optimism earns depositors OP rewards, Renzo points, and EigenLayer points.
Blast airdrop went live on June 26 at 10AM EST (10PM HKT, 4PM CET) and around 17% of the total supply was distributed.
Zeta Marketsβ $ZEX airdrop claim will start on June 27, 2024, at 10:00 UTC.
Ether.fi proposes the launch of Season 3, introducing an airdrop of 25,000,000 ETHFI tokens to eligible stakers.
Rainbow Wallet introduces ETH Rewards. Rainbow is dropping rewards to the top 10,000 all-time Points leaders in phase 1 and plans to airdrop ETH Rewards to more users.
Sanctum launches Sanctum Profiles. Usersβ profiles will serve as a criterion for Sanctumβs upcoming CLOUD launch.
Superposition L3 testnet is live. Users can get on Superposition to interact with Dapps on the Superposition Chain.
Solv Protocol upgraded its points system by adding Solv Points multipliers to more than 10 partnered dApps, enabling users to earn Solv points for BTCfi participation.
Shardeum launched Atomium Stage 1, an incentivized testnet campaign that allows users to earn rewards such as XP, badges, NFTs & $SHM airdrop.
Teahouse Finance introduces TeaTime, a rewards program that allows users to earn points by holding Share Tokens, owning HighTable NFTs, and participating in events.
Farms π§π»βπΎ
Stake your GHO to earn ~22% APR from AAVE and Merit Program
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Synthetix V3 now supports Ethena USDe on Arbitrum, allowing depositors to earn ARB rewards, Ethena Sats, trading fees, and borrow USDx.
Synthetix unveils its Arbitrum LTIP distribution plan. The 12-week program will distribute 2M $ARB until Sep 3rd, allowing users to earn rewards by providing liquidity and trading perps on Synthetix.
Infinex launches the Craterun season. Users can deposit and stake in their Infinex Account to earn crates, and win a share of 1,000 Patron NFTs and a total prize pool of over $5M.
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