Last Week in DeFi - Sushi Hacked, Ribbon Aevo Live, Ethereum Shanghai Coming, and More...

Recap: Week of Apr. 3rd

Product Launches 🚀

• Aevo Live
  Built by the Ribbon team, Aevo is an options AMM that currently allows users to trade ETH options across Daily, Weekly, Monthly, and Quarterly expiries.

• MEV Blocker Live
  Co-developed by CowSwap and 30+ projects, MEV Blocker is an RPC endpoint that can protect users from various types of MEV attacks, including front-running and sandwich attacks

• Trader Joe Liquidity Book v2.1 Live
  Trader Joe’s LB v2.1 enables sJOE fee sharing, permissionless pool creation, optimized fees, and pool migration. Autopools and new order types are to be released at later dates.

• LooksRare V2 Live
  LooksRare V2 offers lower fees, cheaper gas, one-signature bulk listing, support for more NFTs, and seller payout in ETH.

• Camelot V2 Live
  Camelot rolls out the first stage of v2, enabling concentrated liquidity in the AMM. The next two stages will enable upgrades on UI and farms.

• DebtDAO Live
  DebtDAO is a marketplace for crypto credits that allows DAOs to use Revenue-Based Financing to borrow from future cash flows.

Project Updates 🚩

• Magic Eden Live on Ethereum
  Magic Eden went live on Ethereum and launched Bitcoin NFT Launchpad.

• dYdX to Geoblock Canada
  Starting April 7, no more new users are onboarding and existing users will be moved to close-mode on dYdX starting April 14.

Governance Highlights 📝

• Temp Check: Return and Buyback ARB
  The Arbitrum community is running a snapshot vote for AIP-1.05. The AIP proposes to return 700m ARB to the DAO, recover proceeds from the $10m dump, reveal Wintermute MM deal terms, and pause AIP 1.1 and 1.2.

• Lyra Governance V2
  Lyra has transitioned its governance to V2. V2 shifts from a representative council model to a fully autonomous on-chain system, that enables staking & delegation, and grants controls of treasury & developments to token holders.

Hacks/Issues 👾

• Sushi Exploit
  Sushiswap was exploited due to an approval bug and lost over $3.3m. The Sushi CEO suggested users revoke and check if their addresses are affected while the team is working on a refund solution.

• Sentiment Exploit
  Sentiment was exploited and lost ~$1m in USD. The root cause of the exploit was a read-only reentrancy attack, which was used to manipulate the asset price.
  After negotiating with the attacker, ~90% of lost funds had been returned.

Upcoming ⏳

• Ethereum Shanghai Mainnet
  The Shapella network upgrade (ETH Withdrawal) will activate on the Ethereum network at epoch 194048, scheduled for 22:27:35 UTC on Apr. 12, 2023.

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