Last Week in DeFi - Sushi Launches on Sonic Labs, BeraChain Beramas Giveaway Live, IRS States Crypto Staking Rewards Taxable, and more...
Recap: Week of Dec 23rd
Launches π
Sushi goes live on Sonic Labs, bringing token swaps, v2 & v3 AMMs, and DEX Aggregator support to the EVM-compatible Layer-1 blockchain.
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The PENDLE/WETH pool is now live on AerodromeFi, marking $PENDLE's official entry into the Base ecosystem
Panoptic launches its mainnet on Ethereum, introducing the first on-chain, permissionless options protocol. The platform offers traders perpetual options on any token, passive LPs earnings without IL, and active LPs enhanced earnings on Uniswap positions. Early contributors and LPs receive boosted rewards.
Wormhole and Mayan Finance power 10-second native cross-chain swaps now live on Rango Exchange, an advanced protocol for seamless multi-blockchain asset swaps.
Moonwell introduces the PT-LBTC-29MAY2025/cbBTC Isolated Market on Base. This market features Pendle's Principal Token for Lombard Finance's LBTC, maturing May 29, 2025, unlocking new fixed-rate Bitcoin strategies. It drives cbBTC borrowing demand, increasing returns for Frontier Vault depositors.
deBridge expands to Sonic Labs and Fantom, enabling fast bridging to Sonic from any chain.
KyberSwap expands to Sonic Labs, bringing its Aggregator and Limit-Order features. Now you can trade with top market rates powered by 17 integrated liquidity sources and counting.
Hyperlane launches on Arthera, enabling connections to 100+ chains, token bridges, and interchain appsβall permissionless.
RedotPay launches on Solana, enabling payments at 120 million merchants globally using stablecoins like USDC and USDT. The physical and virtual card integrates with Apple Pay and Google Pay, expanding stablecoin utility in everyday transactions.
Updates π°
MetaMask introduces swapping without ETH on Mainnet Ethereum, supporting a variety of tokens with more to come.
Elected President Donald Trump announces Bo Hines as the Executive Director for the Crypto Council.
HyperLend introduces HYPE to its Core Pool and adds stHYPE to its Isolated Pools, expanding its lending and staking options.
Ether.fi's $eBTC is now cross-chain, allowing users to natively mint or bridge on Arbitrum, Base, and Corn platforms.
Sui Bridge now supports $USDT, enabling Ethereum users to transfer assets like ETH and USDT to the Sui DeFi ecosystem with enhanced speed and security.
Sonic Labs announces upgraded tokenomics following four governance proposals on Fantom, including a ~200M $S airdrop. Post-launch, the network plans an extended airdrop campaign, ecosystem growth funding, and validator rewards with capped supply expansion at 15% until 2031. Multiple burn mechanisms aim to reduce $S supply effectively.
Kernel DAO adds three new assets to its platform: uniBTC by Bedrock DeFi, stBTC by Lorenzo Protocol, and asBNB by Astherus Hub. Users can now restake to unlock new opportunities.
Fluid welcomes KelpDAO's $rsETH to its ecosystem with the launch of rsETH-ETH/wstETH and rsETH/wstETH vaults. These additions enhance liquidity and staking opportunities within the network.
Rabby Wallet now supports Safe Wallet on Mantle, Worldcoin, Blast, and Sonic Labs, allowing users to easily import and manage their Safe wallets.
Inverse Finance introduces scrvUSD as $sDOLA LP collateral on FiRM, expanding DeFi collaborations with Curve Finance. This launch unlocks new yield opportunities with twin stablecoins.
Lorenzo Protocol expands $stBTC bridging, now supporting Taiko, Core DAO, Swell Network, Corn, and Hemi. Extend your BTC liquidity across these networks via the Lorenzo app.
Issues π¨
WalletConnect reports a temporary outage of the WalletConnect[.]Network registry due to a domain issue. This does not affect users who have already claimed and staked their WCT. The team is working to resolve the issue and will update once the site is restored.
Upcoming β³
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.
Wormhole DAO is set to go live in Q1 2025, with governance participation requiring staked W tokens. The ongoing Wormhole Staking Rewards Program allocates a minimum of 50,000,000 W for Reward Period 1 across all chains, including EVM and Solana.
Securitize, backed by BlackRock, proposes becoming an enshrined custodian to enable fiat redeemability for Frax's upgraded stablecoin, frxUSD. This initiative aligns with Frax's Vision Roadmap, enhancing frxUSD with tighter pegs, high-yield savings via $sfrxUSD, and institutional-grade security, positioning Frax among top RWA-backed stablecoins.
Zest Protocol announces plans to introduce sBTC loans, further enhancing Bitcoin's productivity. Currently, over 35% of all sBTC on Stacks is yielding on their platform, showcasing strong community support.
DeFi App to Launch Cryptoβs First All-in-One SuperApp on Jan 6: 10x Leverage, Cross-Chain Token Access, Top Yield Farms, and Zero Gas or KYC. Limited to 1,000 Early Sign-Ups.
Berachain Teases βQ5β Mainnet Launch.
Aethir partners with Injective to launch the first-ever tokenized GPU marketplace, offering fractional GPU power, real-time market access, and DeFi-ready features for trading, staking, and lending.
Puffer Finance teases $SOON as an on-chain token, unlocking arbitrage opportunities and market-driven dynamics. $PUFFER Season 2 launches $SOON!
Avalanche AI Hints at Upcoming Release, Promising to Bring AI to Life on Avalanche.
Reddex becomes the official DEX for the Redbelly Network, with the upcoming launch of $RBNT. The token will be available exclusively on Reddex and MEXC
Airdrops πͺ
Jupiter Uplink shares the first draft of its Jupuary 2025 distribution, splitting rewards between Users, Stakers, Carrots, and Good Cats to recognize all participants in the Jupiverse. Draft details are subject to change.
Tevaera updates $TEVA airdrop allocations, including TeviTreat-only players and additional users qualifying under market and Ninja game loyalty criteria. Eligible participants can check their updated allocations at the claim checker link.
Berachain launches the 69-hour Beramas Giveaway, offering PumpBera Sweater NFTs. Participants can join by connecting their wallet at the rewards link, covering gas fees, and ensuring activity with their main wallet. Results depend on wallet activity.
Mitosis concludes the Game of MITO, with the testnet closing at 12 AM UTC on December 22, 2024. Snapshot balances are recorded, and Convert Drop results will be announced later. More developments for the protocol and community are planned for 2025.
Ether.fi announces a $1.5M $ZRC token allocation from Zircuit L2. Participants can earn tokens by depositing a minimum of 0.1 weETH into the Zircuit liquidity hub and holding it for 7 days.
Aligned Foundation's Genesis Drop registration ended today, with over 144,332 addresses from Mina Protocol, Starknet, EigenLayer, zkSync, Taiko, and Scroll already registered.
Tensor Foundation announces the end of Season 4 and launches the rewards claim checker for eligible participants. Check your rewards now.
Ink opens the DeFi Training Grounds, offering participants a chance to prove their skills, ascend to DeFi Wizard status, and win ETH. Start your journey now by selecting your first challenge.
StakeStone launches the Berachain Vault, offering early access to Berachain with $beraSTONE and $beraSBTC. Engage effortlessly with Boyco Protocol, earn rewards from StakeStone, Berachain, and ecosystem protocols, and leverage Berachain's Proof of Liquidity. Rewards include up to 15M $STO in Bera Wave, Berachain incentives, and project rewards from KodiakFi and Dolomite. Phase 1 begins Dec 25, 2024, with bonuses for early deposits and referral incentives.
Solv Protocol launches SolvBTC minting with Mainnet BTC, offering $6M in $SOLV rewards via airdrops and staking. Partnering with OKX Wallet, SolvBTC introduces a new era for Bitcoin staking.
Farms π§π»βπΎ
Penpie introduces the sUSDe (27/02) pool in collaboration with Ethena Labs, offering depositors a +39% APY in boosted $PENDLE rewards and 30x Sats. Depositors can start earning now.
Superform Labs launches the Animal Farm protocol, offering 10x CRED rewards for $PIGGY deposits in the Piggy Bank. Deposits of $PIGGY/$ETH Uniswap LP into The Slop Bucket earn 90.6% APY in $PIGGY plus 10x CRED.
Bedrock launches Bitcoin Restaking with 2x Segment Points Boost and added rewards: 4.5M Babylon Points and 63x Bedrock Diamonds. Stake $uniBTC on BOB and deposit on Segment by Jan 31 to maximize rewards!
Marginfi partners with Sky Ecosystem to offer 40% fixed APY on $USDS.
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